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Bangkok Clears $2.41 Billion Fund For Rescuing Troubled Thai Firms, Shawn Crispin Jun 2003

Bangkok Clears $2.41 Billion Fund For Rescuing Troubled Thai Firms, Shawn Crispin

Documents

No abstract provided.


A Modern History Of Fomc Communication: 1975-2002, David E. Lindsey Jun 2003

A Modern History Of Fomc Communication: 1975-2002, David E. Lindsey

Documents

David E. Lindsey, Deputy Director of Monetary Affairs and Associate Economist, Federal Open Market Committee


Financial And Corporate Restructuring In South Korea, Hiroshi Akama, Kunihisa Noro, Hiroko Tada Jun 2003

Financial And Corporate Restructuring In South Korea, Hiroshi Akama, Kunihisa Noro, Hiroko Tada

Documents

No abstract provided.


Recommendation From The Business Committee On A Merger Between Dnb Holding Asa And Gjensidige Nor Asa, Norway Jun 2003

Recommendation From The Business Committee On A Merger Between Dnb Holding Asa And Gjensidige Nor Asa, Norway

Documents

No abstract provided.


Child Labor, Christopher Udry Jun 2003

Child Labor, Christopher Udry

Discussion Papers

No abstract provided.


Intrahousehold Resource Allocation In Côte D’Ivoire: Social Norms, Separate Accounts And Consumption Choices, Esther Duflo, Christopher Udry Jun 2003

Intrahousehold Resource Allocation In Côte D’Ivoire: Social Norms, Separate Accounts And Consumption Choices, Esther Duflo, Christopher Udry

Discussion Papers

No abstract provided.


The Inflationary Bias Of Real Uncertainty And The Harmonic Fisher Equation, Ioannis Karatzas, Martin Shubik, William D. Sudderth, John Geanakoplos Jun 2003

The Inflationary Bias Of Real Uncertainty And The Harmonic Fisher Equation, Ioannis Karatzas, Martin Shubik, William D. Sudderth, John Geanakoplos

Cowles Foundation Discussion Papers

Arrow’s original proof of his impossibility theorem proceeded in two steps: showing the existence of a decisive voter, and then showing that a decisive voter is a dictator. Barbera replaced the decisive voter with the weaker notion of a pivotal voter, thereby shortening the first step, but complicating the second step. I give three brief proofs, all of which turn on replacing the decisive/pivotal voter with an extremely pivotal voter (a voter who by unilaterally changing his vote can move some alternative from the bottom of the social ranking to the top), thereby simplifying both steps in Arrow’s proof. My …


The Computation Of Counterfactual Equilibria In Homothetic Walrasian Economies, Donald J. Brown, Ravi Kannan Jun 2003

The Computation Of Counterfactual Equilibria In Homothetic Walrasian Economies, Donald J. Brown, Ravi Kannan

Cowles Foundation Discussion Papers

We propose a nonparametric test for multiple calibration of numerical general equilibrium models, and we present an effective algorithm for computing counterfactual equilibria in homothetic Walrasian economies, where counterfactual equilibria are solutions to the Walrasian inequalities.


Indeterminacy, Nonparametric Calibration And Counterfactual Equilibria, Donald J. Brown, Ravi Kannan Jun 2003

Indeterminacy, Nonparametric Calibration And Counterfactual Equilibria, Donald J. Brown, Ravi Kannan

Cowles Foundation Discussion Papers

We propose a nonparametric approach to multiple calibration of numerical general equilibrium models, where counterfactual equilibria are solutions to the Walrasian inequalities. We present efficient approximation schemes for deciding the solvability of Walrasian inequalities.


Determinacy With Nominal Assets And Outside Money, Pradeep Dubey, John Geanakoplos Jun 2003

Determinacy With Nominal Assets And Outside Money, Pradeep Dubey, John Geanakoplos

Cowles Foundation Discussion Papers

We build a finite horizon model with inside and outside money, in which interest rates, price levels and commodity allocations are determinate, even though asset markets are incomplete and asset deliveries are purely nominal.


Cross-Section Regression With Common Shocks, Donald W.K. Andrews Jun 2003

Cross-Section Regression With Common Shocks, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper considers regression models for cross-section data that exhibit cross-section dependence due to common shocks, such as macroeconomic shocks. The paper analyzes the properties of least squares (LS) and instrumental variables (IV) estimators in this context. The results of the paper allow for any form of cross-section dependence and heterogeneity across population units. The probability limits of the LS and IV estimators are determined and necessary and sufficient conditions are given for consistency. The asymptotic distributions of the estimators are found to be mixed normal after re-centering and scaling. t , Wald, and F statistics are found to have …


Management Of A Financial Crisis In Banks With Cross-Border Establishments, Suomen Pankki/Central Bank Of Finland Jun 2003

Management Of A Financial Crisis In Banks With Cross-Border Establishments, Suomen Pankki/Central Bank Of Finland

Documents

No abstract provided.


Institutions And The Vicious Circle Of Distrust In The Russian Household Deposit Market, Andrew Spicer, William Pyle Jun 2003

Institutions And The Vicious Circle Of Distrust In The Russian Household Deposit Market, Andrew Spicer, William Pyle

Documents

No abstract provided.


Argentina's Economic Crisis: Causes And Cures, Jim Saxton Jun 2003

Argentina's Economic Crisis: Causes And Cures, Jim Saxton

Documents

No abstract provided.


Yale Scientific Magazine: Volume 76, Number 4 Jun 2003

Yale Scientific Magazine: Volume 76, Number 4

Yale Scientific Magazine

No abstract provided.


The Harmonic Fisher Equation And The Inflationary Bias Of Real Uncertainty, Ioannis Karatzas, Martin Shubik, William D. Sudderth, John Geanakoplos Jun 2003

The Harmonic Fisher Equation And The Inflationary Bias Of Real Uncertainty, Ioannis Karatzas, Martin Shubik, William D. Sudderth, John Geanakoplos

Cowles Foundation Discussion Papers

The classical Fisher equation asserts that in a nonstochastic economy, the inflation rate must equal the difference between the nominal and real interest rates. We extend this equation to a representative agent economy with real uncertainty in which the central bank sets the nominal rate of interest. The Fisher equation still holds, but with the rate of inflation replaced by the harmonic mean of the growth rate of money. Except for logarithmic utility, we show that on almost every path the long-run rate of inflation is strictly higher than it would be in the nonstochastic world obtained by replacing output …


Real Determinacy With Nominal Assets, Pradeep Dubey, John Geanakoplos Jun 2003

Real Determinacy With Nominal Assets, Pradeep Dubey, John Geanakoplos

Cowles Foundation Discussion Papers

We build a finite horizon model with inside and outside money, in which interest rates, price levels and commodity allocations are determinate, even though asset markets are incomplete and asset deliveries are purely nominal.


Bank Of Japan Minutes Of The Monetary Policy Meeting, April 7-8, 2003, Bank Of Japan/Central Bank Of Japan May 2003

Bank Of Japan Minutes Of The Monetary Policy Meeting, April 7-8, 2003, Bank Of Japan/Central Bank Of Japan

Documents

No abstract provided.


Minutes Of The Monetary Policy Meeting On April 7 And 8, 2003, Bank Of Japan/Central Bank Of Japan May 2003

Minutes Of The Monetary Policy Meeting On April 7 And 8, 2003, Bank Of Japan/Central Bank Of Japan

Documents

No abstract provided.


Decreto 1262/2003, Argentina: Ministerio De Economia/Ministry Of Economy May 2003

Decreto 1262/2003, Argentina: Ministerio De Economia/Ministry Of Economy

Documents

No abstract provided.


Aig Valuation - Intra-Period Collection Account Report, Abn Amro Cdo Trust Services May 2003

Aig Valuation - Intra-Period Collection Account Report, Abn Amro Cdo Trust Services

Documents

No abstract provided.


Chairman Of U.S. Securities & Exchange Commission, William H. Donaldson Testimony Concerning Global Research Analyst Settlement Before The Senate Committee On Banking, Housing And Urban Affairs, William H. Donaldson May 2003

Chairman Of U.S. Securities & Exchange Commission, William H. Donaldson Testimony Concerning Global Research Analyst Settlement Before The Senate Committee On Banking, Housing And Urban Affairs, William H. Donaldson

Documents

No abstract provided.


Frb Memo From Carol Zaglio To Distribution Re Citigroup Citifinancial Commitments Review Procedures Conference Call On April 23 2003, Carol Zaglio May 2003

Frb Memo From Carol Zaglio To Distribution Re Citigroup Citifinancial Commitments Review Procedures Conference Call On April 23 2003, Carol Zaglio

Documents

No abstract provided.


Positive And Negative Modulatory Roles Of Platelet Endothelial Cell Adhesion Molecule-1 Signaling In Endothelial Cell Migration: Coordination Of Rho Signaling And Targeting Of Shp-2 Tyrosine Phosphatase Activity, Dita Gratzinger May 2003

Positive And Negative Modulatory Roles Of Platelet Endothelial Cell Adhesion Molecule-1 Signaling In Endothelial Cell Migration: Coordination Of Rho Signaling And Targeting Of Shp-2 Tyrosine Phosphatase Activity, Dita Gratzinger

Yale Medicine Thesis Digital Library

Platelet Endothelial Cell Adhesion Molecule-1 (PECAM-1), an immunoglobulin family adhesion molecule, is involved in endothelial migration and angiogenesis. We found that PECAM-1 deficient endothelial cells exhibit enhanced nondirected single cell motility and extension formation at the expense of wound-healing migration. These in vitro endothelial behaviors model aspects of highly developmentally and pathophysiologically relevant processes. Wound healing migration may model the reendothelialization of denuded vasculature following balloon angioplasty or the remodeling of vascular endothelium under variant flow conditions, while single cell motility is prominently involved in developmental processes such as endocardial-mesenchymal transition within the cardiac cushion. A specific deficiency of RhoGTP …


Prevalence And Correlates Of Drug Abstinence Following Substance Abuse Treatment, Angela Cheryl Ni May 2003

Prevalence And Correlates Of Drug Abstinence Following Substance Abuse Treatment, Angela Cheryl Ni

Yale Medicine Thesis Digital Library

No abstract provided.


Two New Proofs Of Afriat's Theorem, Ana Fostel, Herbert E. Scarf, Michael J. Todd May 2003

Two New Proofs Of Afriat's Theorem, Ana Fostel, Herbert E. Scarf, Michael J. Todd

Cowles Foundation Discussion Papers

We provide two new, simple proofs of Afriat’s celebrated theorem stating that a finite set of price-quantity observations is consistent with utility maximization if, and only if, the observations satisfy a variation of the Strong Axiom of Revealed Preference known as the Generalized Axiom of Revealed Preference.


On Houseswapping, The Strict Core, Segmentation, And Linear Programming, Thomas Quint, Jun Wako May 2003

On Houseswapping, The Strict Core, Segmentation, And Linear Programming, Thomas Quint, Jun Wako

Cowles Foundation Discussion Papers

We consider the n-player houseswapping game of Shapley-Scarf (1974), with indifferences in preferences allowed. It is well-known that the strict core of such a game may be empty, single-valued, or multivalued. We define a condition on such games called “segmentability”, which means that the set of players can be partitioned into a “top trading segmentation.” It generalizes Gale’s well-known idea of the partition of players into “top trading cycles” (which is used to find the unique strict core allocation in the model with no indifference). We prove that a game has a nonempty strict core if and only if it …


Consistent Estimation With A Large Number Of Weak Instruments, John C. Chao, Norman R. Swanson May 2003

Consistent Estimation With A Large Number Of Weak Instruments, John C. Chao, Norman R. Swanson

Cowles Foundation Discussion Papers

This paper conducts a general analysis of the conditions under which consistent estimation can be achieved in instrumental variables regression when the available instruments are weak in the local-to-zero sense. More precisely, the approach adopted in this paper combines key features of the local-to-zero framework of Staiger and Stock (1997) and the many-instrument framework of Morimune (1983) and Bekker (1994) and generalizes both of these frameworks in the following ways. First, we consider a general local-to-zero framework which allows for an arbitrary degree of instrument weakness by modeling the first-stage coefficients as shrinking toward zero at an unspecified rate, say …


Alternative Approximations Of The Bias And Mse Of The Iv Estimator Under Weak Identification With An Application To Bias Correction, John C. Chao, Norman R. Swanson May 2003

Alternative Approximations Of The Bias And Mse Of The Iv Estimator Under Weak Identification With An Application To Bias Correction, John C. Chao, Norman R. Swanson

Cowles Foundation Discussion Papers

We provide analytical formulae for the asymptotic bias (ABIAS) and mean squared error (AMSE) of the IV estimator, and obtain approximations thereof based on an asymptotic scheme which essentially requires the expectation of the first stage F -statistic to converge to a finite (possibly small) positive limit as the number of instruments approaches infinity. The approximations so obtained are shown, via regression analysis, to yield good approximations for ABIAS and AMSE functions, and the AMSE approximation is shown to perform well relative to the approximation of Donald and Newey (2001). Additionally, the manner in which our framework generalizes that of …


Structure, Clearinghouses And Symmetry, Martin Shubik, Eric Smith May 2003

Structure, Clearinghouses And Symmetry, Martin Shubik, Eric Smith

Cowles Foundation Discussion Papers

We introduce and justify a taxonomy for the structure of markets and minimal institutions which appear in constructing minimally complex trading structures to perform the functions of price formation, settlement and payments. Each structure is presented as a playable strategic market game and is examined for its efficiency, the number of degrees of freedom and the symmetry properties of the structure.