In this paper we estimate a demand curve for Broadway shows and estimate average willingness to pay for information on the quality of the show. The data employed are weekly time series observations on attendance to Broadway performances and individual characteristics of each Broadway show...

We propose a new approach for estimating a “hybrid” New Keynesian Phillips Curve (NKPC)that includes demand pressures coming from disequilibrium relations in three differentmarkets: (1) monetary and financial, (2) international, and (3) labour. The results of theapplication of this approach...

In this paper we present a new utility model that serves as the basis for modeling discrete/continuous consumer choices with a general corner solution.The new model involves a more flexible representation of preferences than what has been used in the previous literature and, unlike most of this...

Parliamentary and presidential systems dffer in the way citizens elect politicians in the executive power. In the first case they do it indirectly through the legislative power and in the second they do it directly. The main consequence of this is that ticket-splitting and divided governments...

Political decentralization involves an incentive game in which the President and regional authorities have to share power to provide public goods. In such a game, it is never reasonable to allocate political power to appointed Governors. In fact, when formal authority goes to the President...

En este artículo se presentan series corregidas de salarios mensuales con periodicidad trimestral para trece regiones en Chile en el período Diciembre 1994 - Diciembre 2004. La información se origina de la Superintendencia de Administradoras de Fondos de Pensiones, pero ha sido corregida por...

We study whether lax environmental regulations induce comparative advantages, causing the  least-regulated countries to specialize in polluting industries. We seek to improve three areas in the empirical literature based on the Heckscher-Ohlin-Vanek’s factor content of trade, more...

We prove the strict concavity of the value function for liquidity-constrained saving or storage models with possibly responsive effort, possibly unbounded marginal utility, and i.i.d. disturbances. Thus we furnish a foundation for empirical estimation of homogeneous Markov processes for...

Several studies report large and persistent differences in standards of living and poverty within a country. In this paper, we study whether the observed differences in poverty incidence in urban areas are due to differences in the attributes of the population that lives in these zones or comes...