Showing 571 - 574 of 574
This paper develops an efficiency theory of contingent trade policies. We model the competition for a domestic market between one domestic and one foreign firm as a pricing game under incomplete information about production costs. The cost distributions are asymmetric because the foreign firm...
Persistent link: https://www.econbiz.de/10009004307
Many countries provide extra resources to schools serving disadvantaged pupils. We exploit a discontinuity in the assignment of such personnel subsidies in Flanders to estimate the impact on cognitive outcomes via a regression discontinuity (RD) design. Because bias can be substantial in RD...
Persistent link: https://www.econbiz.de/10009004308
This paper argues that important insights into the business cycle can be obtained by exploring the micro-structure of macroeconomic fluctuations. We fit firm-level growth data with the Asymmetric Exponential Power density, which accounts for asymmetric dispersion and kurtosis on either side of...
Persistent link: https://www.econbiz.de/10009004309
We address how the value of risky options should be assessed in the case where the sum of the probability-weighted payoffs is not absolutely convergent and thus dependent on the order in which the terms are summed (e.g., as in the Pasadena Paradox). We develop and partially defend a proposal...
Persistent link: https://www.econbiz.de/10009004310