We examine the behaviour of pedestrians wishing to cross a stream of traffic at signalized intersections. We model each pedestrian as making a discrete crossing choice by comparing the gaps between vehicles in traffic to an individual-specific 'critical gap' that characterizes the individual's...

I study whether and how US shocks are transmitted to eight Latin American countries. US shocks are identified using sign restrictions and treated as exogenous with respect to Latin American economies. Posterior estimates for individual and average effects are constructed. US monetary shocks...

This paper addresses the empirical dilemma in identifying and estimating the parameters governing the intertemporal elasticity of substitution (IES) for import demand. We propose a new concept, the cross-Euler equation, for overcoming this empirical dilemma. IES parameters are estimated by...