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This paper introduces a nonparametric binary classification tree approach to inferring unobserved strategies from the observed actions of economic agents. The strategies are in the form of possibly nested if- then statements. We apply our approach to experimental data from the repeated ultimatum...
Persistent link: https://www.econbiz.de/10005407882
The current research emphasis on institutions as key determinants of economic performance, rather than on resources and resource productivity, has uncovered important questions for further research. For example, if institutions are central to economic performance, then what explains observed...
Persistent link: https://www.econbiz.de/10005125631
Institutions either promote or constrain economic performance, but which parts of institutions advance or restrict performance, and why do economies sharing similar institutions sometimes perform differently? This paper is a modest attempt at addressing a small part of these questions. It...
Persistent link: https://www.econbiz.de/10005125690
This paper develops a simple and practical framework for characterizing (long-run) economic growth and fluid capital accumulation under shifting technological change. The framework specifies a technological change that depends on exogenous and endogenous factors as well as the interaction...
Persistent link: https://www.econbiz.de/10005408266
This paper decomposes the large regression residuals of income across 84 U.S. Native American economies (USNAEs) into Solow and Solow-like parts. Decomposition is accomplished algebraically. The calculations find a weak to negative correlation between income and Solow residuals, and a strong...
Persistent link: https://www.econbiz.de/10005118791
Concern is growing regarding the poverty impacts of trade liberalization. The strong general equilibrium effects of … to detailed poverty analysis. We bridge this gap by constructing a CGE model that explicitly models all households from a … models. Urban poverty falls and rural poverty increases as initial tariffs were highest for agriculture. Impacts increase …
Persistent link: https://www.econbiz.de/10005407655
REDUCING POVERTY PROVIDES A DIFFERENT BUT EQUALLY POWERFUL CASE FOR HEALTH INVESTMENTS. HOWEVER, IF POLICYMAKERS ARE TO …
Persistent link: https://www.econbiz.de/10005408428
reducing poverty provides a different but equally powerful case for health investments. However, if policymakers are to …
Persistent link: https://www.econbiz.de/10005556956
Successful descriptions of the short-term nominal interest rate inertial behavior have frequently been obtained with small scale macro models in which a Central Banker minimizes a loss function containing an argument labelled as interest rate smoothing. The rationale for this argument is not...
Persistent link: https://www.econbiz.de/10005076824
We study the behavior of real exchange rates in a two­country dynamic equilibrium model. In this model, consumers can only consume domestic goods but can invest costlessly in capital stocks of both countries. Nevertheless, transporting goods between the two countries is costly and, hence, the...
Persistent link: https://www.econbiz.de/10005076998