This paper examines the validity of Rudd and Whelan’s (2006) critiques of Gali and Gertler’s (1999) hybrid Phillips curve (HYPC) by re-estimating the HYPC using full information maximum likelihood (FIML). We also estimate HYPC with the constraint that the weights for the sum of forward...

Several studies have demonstrated that individual contributions to public goods are increasing in others’ contributions. The underlying causes for this, however, are not yet fully understood. We present a model of duty-orientation in which moral responsibility is learned through observations...

Several studies have demonstrated that individual contributions to public goods are increasing in others’ contributions. The underlying causes for this, however, are not yet fully understood. We present a model of duty-orientation in which moral responsibility is learned through observations...

We formulate a Monte Carlo EM algorithm to estimate treatment effect models involving multiple censored responses. The algorithm has at least three advantages with respect to traditional methods. First, it does not require integrating the unobserved information out from the likelihood function,...