We propose a root n consistent estimator for B0 when the qth conditional quantile of Y given X=x and Z=z takes the semi linear form g(x)+z'B0 where g(.) is an un- known real valued function,B0 a finite dimensional parameter and (X,Z) a couple of explanatory variables. Importantly, our estimator...

This paper develops a trade model with firm-specifc quality heterogeneity, limit pricing, and an endogenous distribution of markups. Exposure to trade induces only the firms producing high-quality (high-price) products to enter the export markets, whereas firms producing low-quality (low-price)...

It is widely reported in the literature that it is not possible to test nonmarket good preference restrictions against revealed preference. While it is clearly impossible to affirm any particular preference restriction as being “true,” it is possible to show that a preference restriction is...

We show how to implement inflation forecast targeting using a VAR model and derive the implied inflation-output variability frontier. Our approach is based on dynamic, stochastic simulations of the average inflation rate over a two-year horizon using the moving average representation of the VAR...

This paper develops a fully-endogenous, variety-expansion growth model with firm- specifc quality heterogeneity, limit pricing, and an endogenous distribution of markups. Trade induces only firms with high-quality products to export, whereas firms with low- quality products serve only the...

We use house price hedonics to compare the extent that homeowners value traditional measures of school quality or the “value added” of schooling. Unlike other studies, we use spatial statistics as an identification strategy. Based on our study of 310 school districts and 77,000 house...