Showing 91 - 100 of 206
Persistent link: https://www.econbiz.de/10008904175
There has been a long debate about whether speculators are stabilizing or not. We consider a model where speculators have a stabilizing role in normal times, but may also provoke large risk panics. The very feature that makes arbitrageurs liquidity providers in normal times, namely their...
Persistent link: https://www.econbiz.de/10008905464
This paper examines the correlated random coefficient model. It extends the analysis of Swamy (1971, 1974), who pioneered the uncorrelated random coefficient model in economics. We develop the properties of the correlated random coefficient model and derive a new representation of the variance...
Persistent link: https://www.econbiz.de/10008821804
Persistent link: https://www.econbiz.de/10009573405
Persistent link: https://www.econbiz.de/10009552600
Persistent link: https://www.econbiz.de/10003812070
This paper presents Gary Becker's approach to conducting creative, empirically fruitful economic research. It describes the traits and methodology that made him such a productive and influential scholar.
Persistent link: https://www.econbiz.de/10010477886
"This paper examines the properties of instrumental variables (IV) applied to models with essential heterogeneity, that is, models where responses to interventions are heterogeneous and agents adopt treatments (participate in programs) with at least partial knowledge of their idiosyncratic...
Persistent link: https://www.econbiz.de/10003375232
Persistent link: https://www.econbiz.de/10003293065
Persistent link: https://www.econbiz.de/10003804169