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Heteroskedasticity and serial correlation in tests for rational expectations and/or simple market efficiency: A white-type approach
Ligeralde, Antonio Velasco; Ligeralde, Antonio Velasco - 1989
The simple market efficiency hypothesis implies that prediction errors, such as forward less spot exchange rates, will be orthogonal to elements of the information set. One can therefore test for market efficiency via ordinary least squares by regressing the prediction errors on pieces of...
Persistent link: https://www.econbiz.de/10009441881
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Moving to a direct tax on consumption: Some transitional issues
Sarkar, Shounak Sankar; Sarkar, Shounak Sankar - 1994
; business taxes are ignored and assumed to "pass through" to individuals. One important result of these studies is that the … important conditions ignored by these models.First, the thesis incorporates an explicit business sector in these models and … business income tax with a business cash flow tax. Intergenerational redistributions are altered and difference in steady state …
Persistent link: https://www.econbiz.de/10009441903
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Essays in microeconomics: Wage subsidy in an optimal redistribution program and bundling hardware and software
Zarovnyi, Alexei; Zarovnyi, Alexei - 2000
My dissertation consists of two unrelated essays. In the first essay, "Wage Subsidy in an Optimal Redistribution Program", I analyze the efficiency of income transfers and wage subsidies as instruments of income redistribution in an optimal taxation framework. I extend the Mirrlees model (1971)...
Persistent link: https://www.econbiz.de/10009441951
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Essays on Privacy, Information, and Anonymous Transactions
Wagman, Liad - 2009
This dissertation uses game theoretic models to examine the effects of agent anonymity on markets for goods and for information. In open, anonymous settings, such as the Internet, anonymity is relatively easy to obtain --- oftentimes another email address is sufficient. By becoming anonymous,...
Persistent link: https://www.econbiz.de/10009475474
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Market power and transportation price formation: Theory and an application to the captive shipper problem
Woock, Rodger Allan - 1990
We develop a spatial model of bulk commodity transportation price formation. The spatial transportation price model is first developed for the monopolist carrier. Then the model is extended to quantity-setting and price-setting duopolist carriers under incomplete cross-hauling. Measures...
Persistent link: https://www.econbiz.de/10009477715
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An investment center vs. a profit center: Capital investment under informational asymmetry
Chung, Moon-Chong - 1992
The choice problem between a profit and an investment center revolves around whether it is desirable to delegate investment decision responsibility to a divisional manager who is better informed about the investment opportunities of the division. We show that an accounting performance measure...
Persistent link: https://www.econbiz.de/10009477820
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ESSAYS IN EMPIRICAL INDUSTRIAL ORGANIZATION
Chesnes, Matthew William - 2009
Chapter 1: Capacity and Utilization Choice in the US Oil Refining IndustryThis paper presents a new dynamic model of the operating and investmentdecisions of US oil refiners. The model enables me to predict how shocks to crudeoil prices and refinery shutdowns (e.g., in response to hurricanes)...
Persistent link: https://www.econbiz.de/10009450802
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Three Empirical Studies in Market Design
Stocking, Andrew James - 2009
Market design is the development of mechanisms that improve market efficiency and build on an understanding of the interaction between human behavior and market rules. The first chapter considers the sale of a charitable membership where the charity poses the market design question of how to...
Persistent link: https://www.econbiz.de/10009450803
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Development of China's rural industry and measurement of its productive efficiency at firm level
Song, Xiaojiang
Through the remarkable growth of over a decade China's rural industry has already become an important pillar of its national economy. The primary goal of this dissertation is to place China's rural industry in a historical and a market economic perspective in an efforts to link its rapid...
Persistent link: https://www.econbiz.de/10009431390