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model, the bias may be up to 50 percent. We find a similar bias in PSID data. -- labor supply elasticity ; intertemporal …
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enforcers - on corruption, drug dealing, and other forms of sequential, bilateral, illegal trade. We find that when not properly …-shot) illegal transactions, which would not be enforceable otherwise. -- Law enforcement ; Self-reporting ; Corruption ; Crime …
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We summarize some methods useful in formulating and solving Hansen-Sargent robust control problems, and suggest extensions to discretion and simple rules. Matlab, Octave, and Gauss software is provided. We illustrate these extensions with applications to the term structure of interest rates, the...
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. -- decision theory ; discrete choice ; uncertainty ; monotonicity …
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