A model of the dynamically interrelated demand for capital and labor is specified and estimated. The estimates are of … slow rates of adjustment displayed in other, related estimates of the demand for capital. Because adjustment is estimated …

Although there have been a large number of empirical studies of the demand for international reserves, there have not … demand function trigger a process of adjustment. This paper presents new evidence which suggests that central banks do have a … rapid. In addition, an economic theory of the speed of adjustment is presented and tested. The evidence suggests that …

Some additional evidence on the comparative effect of income, regulation, and other variables on the demand for lawyers … demand for lawyers. Section I presents a theoretical model of the demand for and supply of lawyers. The empirical … investment in legal education. Section, presents other evidence of an excess demand for lawyers and offers several explanations …

Aggregate housing demand shocks are an important source of house price fluctuations in the standard macroeconomic …-rent puzzle"). We build a tractable heterogeneous-agent model that provides a microeconomic foundation for housing demand shocks …

From its inception, demand estimation has faced the problem of "many prices." This paper provides estimators of average … demand and associated bounds on exact consumer surplus when there are many prices in cross-section or panel data. For cross … "zeros problem" of demand. For panel data we provide bias corrected, ridge regularized estimators of average coefficients and …

Can measured risk attitudes and associated structural models predict insurance demand? In an experiment (n = 1,730), we … parameterize seventeen common structural models (e.g., expected utility, cumulative prospect theory). Subjects also make twelve …

A recent literature considers the identification of heterogeneous demand and supply models via "quasi … demand when one has "micro data'' linking characteristics of individual consumers to their choices. Micro data provide a … panel structure allowing one to exploit variation across consumers within each market, where latent demand shocks are fixed …