Monetary policy may be implemented either by controlling the nominal money supply or by fixing the nominal interest rates. This paper investigates the effects on available information of both kinds of policies in the equilibrium rational expectations model presented in Grossman-Weiss (1980). A...

Necessary and sufficient conditions are obtained for the existence of an equilibrium point (as well as for the existence of a dominating equilibrium point) in a two-person non-zero sum game of timing.

Formulae that are given in the literature for the characteristic function of the F distribution are incorrect and imply that the distribution has finite moments of all orders. Correct formulae are derived and the asymptotic behavior of the characteristic function in the neighborhood of the...

A new method of approximating the probability density function (pdf's) of econometric estimators and test statistics is developed. It is shown that best uniform approximants to a general class of pdf's exist in the form of rational functions. A procedure for extracting approximants is devised...

The theory of Fourier transforms of generalized functions is used to extract general formulas for the tail behavior of a probability distribution from the behavior of its characteristic function in the locality of the origin. The theory is applied to develop asymptotic formula for the tails of...