Are people concerned with their relative standing in a reference group? Do certain types care more about this than others? Little work has been done to identify underlying determinants for an inclination to make social comparisons and to explain variation across individuals. We investigate...

We incorporate strategic complementarities into a multi-agent sequential choice model with observable actions and private information. In this framework agents are concerned with learning from predecessors, signalling to successors, and coordinating their actions with those of others....

This paper proposes a new nonparametric estimator for general regression functions with multiple regressors. The method used here is motivated by a remarkable result derived by Kolmogorov (1957) and later tightened by Lorentz (1966). In short, any continuous function f(x_1,...,x_d) has the...

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Evidence from most developing countries suggest that parents have a preference for sons over daughters. This is know as son preference. This paper uses individual level unit record data to test the son preference hypothesis in South Africa. We use an accelerated hazard model to estimate the...

This paper examines jointly the empirical relevance of the mean-reversion and the Purchasing Power Parity (PPP) hypotheses in the exchange rate dynamics within the European Exchange Rate Mechanism (ERM). Given the non stationarity and the nonlinearities characterizing foreign exchange rate...

We study the problem of identification of the long regression E(y|x,z) when the short conditional distributions P(y|x) and P(z|x) are known but the long conditional distribution P(y|x,z) is not known. This problem often arises when a researcher utilizes data from two separate data sets. (A...

Several studies indicate that firms are reluctant to cut nominal wages during periods of relatively high nominal per capita GDP growth. It has been argued, however, that in an environment with a low nominal per capita GDP growth, i.e., when nominal wage cuts become customary, firms would no...

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