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An impossibility theorem in matching problems

Takagi, Shohei; Serizawa, Shigehiro - 2006

This paper studies the possibility of strategy-proof rules yielding satisfactory solutions to matching problems …. Alcalde and Barberá (1994) show that effcient and individually rational matching rules are manipulable in the one …-to-one matching model. We pursue the possibility of strategy-proof matching rules by relaxing effciency to the weaker condition of …

Persistent link: https://www.econbiz.de/10010332209

Asymptotic properties of the estimator of the long-run coefficient in a dynamic model with integrated regressors and serially correlated errors

Maekawa, Koichi; MacAleer, Michael; He, Zonglu - 2001

In this paper we examine the asymptotic properties of the estimator of the long-run coefficient (LRC) in a dynamic regression model with integrated regressors and serially correlated errors. We show that the OLS estimators of the regression coefficients are inconsistent but the OLS-based...

Persistent link: https://www.econbiz.de/10010332196

Comparing tests of autoregressive versus moving average errors in regression models using Bahadur's asymptotic relative efficiency

MacKenzie, C. R.; MacAleer, Michael - 2001

The purpose of this paper is to use Bahadur's asymptotic relative efficiency measure to compare the performance of various tests of autoregressive (AR) versus moving average (MA) error processes in regression models. Tests to be examined include non-nested procedures of the models against each...

Persistent link: https://www.econbiz.de/10010332248

On adaptive estimation in nonstationary ARMA models with GARCH errors

Ling, Shiqing; MacAleer, Michael - 2001

This paper considers adaptive estimation in nonstationary autoregressive moving average models with the noise sequence satisfying a generalised autoregressive conditional heteroscedastic process. The locally asymptotic quadratic form of the log-likelihood ratio for the model is obtained. It is...

Persistent link: https://www.econbiz.de/10010332474

Income distribution and macroeconomics revisited: The role of fertility adjustment

Nakagawa, Masao; Sugimoto, Yoshiaki - 2009

This paper develops a theory in which households prepare for future education by adjusting the number of children they intend to raise. Income inequality lowers output per worker only if the inequality is attributed in some part to unexpected disturbances after childbirth.

Persistent link: https://www.econbiz.de/10010332195

Global habits, habit differentials, and international macroeconomic adjustment to income shocks

Ikeda, Shinsuke; Gombi, Ichiro - 2010

In a two-country model with habit formation, we focus on interdependent macroeconomic adjustments to global and country-specific income shocks.Global habits and habit differentials play key roles in the global equilibrium dynamics, possibly nonmonotonic, and in the determination of international...

Persistent link: https://www.econbiz.de/10010332197

Multinationals, tax holidays, and technology transfer

Miyagiwa, Kaz; Ohno, Yuka - 2008

Host country governments often grant investment incentives to foreign firms locating in their territories. We show that such preferential treatment of foreign firms can facilitate transfer of foreign technology, induce entry by the local firm, and increase host country welfare. However, this...

Persistent link: https://www.econbiz.de/10010332201

Free entry, regulatory competition, and globalization

Miyagiwa, Kaz; Sato, Yasuhiro - 2012

This paper examines the optimal entry policy towards oligopoly in a globalized world. In an open economy free entry is socially suboptimal, but corrective tax policy to curb entry proves insufficient unless internationally harmonized. Thus, while conferring the gains from trade, globalization...

Persistent link: https://www.econbiz.de/10010332204

First-to-invent versus first-to-file: International patent law harmonization and innovation

Miyagiwa, Kaz - 2007

The U.S. has been under pressure to abandon the unique first-to-invent feature of its patent law for awarding patents. The opposition to reform however argues that switch to a first-to-file rule, the international norm, will undermine innovation. We evaluate this argument in a dynamic stochastic...

Persistent link: https://www.econbiz.de/10010332206

A survey of recent theoretical results for time series models with GARCH errors

Li, W. K.; Ling, Shiqing; MacAleer, Michael - 2001

This paper provides a review of some recent theoretical results for time series models with GARCH errors, and is directed towards practitioners. Starting with the simple ARCH model and proceeding to the GARCH model, some results for stationary and nonstationary ARMA-GARCH are summarized. Various...

Persistent link: https://www.econbiz.de/10010332210

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