Helle et al. (2002) used data from Finnish parish records to study the cost of bearing sons vis-à-vis daughters in terms of postmenopausal longevity and found a large and significant cost associated with sons. In this paper, we replicate and extend their analysis on a larger dataset of...

We study costless pre-play communication of intentions among inexperienced players. Using the level-k model of strategic thinking to describe players' beliefs, we fully characterize the effects of pre-play communication in symmetric 2×2 games. One-way communication weakly increases coordination...

Financial return series of sufficiently high frequency display stylized facts such as volatility clustering, high kurtosis, low starting and slow-decaying autocorrelation function of squared returns and the so-called Taylor effect. In order to evaluate the capacity of volatility models to...

In this paper we propose a general method for testing the Granger noncausality hypothesis in stationary nonlinear models of unknown functional form. These tests are based on a Taylor expansion of the nonlinear model around a given point in a sample space. We study the performance of our tests by...

A purchaser/provider split together with output- based reimbursement were recently introduced by several Swedish county councils. These changes have been motivated by arguments of efficiency and consumer choice. This paper tests the null hypothesis that hospital services are provided as...

Within a simple formal model, we show that there is a link between workers' consumption patterns and their preferred real wage. A large budget share of illiquid durable consumption goods (such as houses and cars) makes workers more willing to accept a low wage in order to reduce the probability...

We present a model of financial contracting in the presence of asymmetric information between entrepreneur and investor. Either liquidation threat or governance control can be used to protect investor’s interests against expropriation risk. The two parties first agree to a financial...

This paper analyses the impacts of trade and trade policy on tropical deforestation. Distinctions are made between the different costs and benefits pertaining to forest use, their distribution and natural vis-à-vis industrial forest features. It is emphasized that forest management is...

This paper deals with the investment effects of regional integration agreements and discusses how such arrangements may affect inward and outward foreign direct investment flows in the integrating region. After setting up a conceptual framework for the analysis, we provide three studies focusing...

This study examines the long-run relationship between finance and economic growth in Sweden from the 1830s until the 1990s using recently developed econometric techniques for tests of cointegration. The role of investment, education and technological progress (patents) is accounted for as well...