This paper investigates the two-sided many-to-many matching problem, where every agent has max–min preference. The equivalence between the pairwise-stability and the setwise-stability is obtained. It is shown that the pairwise-stability implies the strong corewise-stability and the former may...

This paper provides a necessary and sufficient condition for the existence of nonautarkic contract in a risk sharing model with two-sided lack of commitment. Verifying the condition takes just one Gaussian elimination of a matrix.

This paper empirically examines the international spillover of economic growth through bilateral trade. We extend the Solow growth model with a spatial autoregressive term and a spatial time lag term, and estimate such a model with a sample of 26 OECD countries over the period 1971–2005. We...

This paper investigates the quasi-maximum likelihood (QML) estimation of spatial panel data models where spatial weights matrices can be time varying. We show that QML estimate is consistent and asymptotically normal. We also derive the asymptotic distribution of average impact coefficients...