Research on the presence of consumer racial discrimination in the baseball labor and memorabilia markets has produced contradictory empirical results. While studies of baseball salaries-find no evidence of discrimination, Nardinelli and Simon (1990) and Andersen and La Croix (1991) use data from...

We analyze households' joint investment decisions for financial wealth and homes. We use a bivariate censored regression model with endogenous switching. Fixed costs or transaction costs are captured by an unobserved nonzero censoring threshold. The model allows for spill-over effects of a...

We analyze households' joint investment decisions for financial wealth and homes. We use a bivariate censored regression model with endogenous switching. Fixed costs or transaction costs are captured by an unobserved nonzero censoring threshold. The model allows for spill-over effects of a...

The analysis of the "natural rate of interest" fills one of the most important and controversial chapters in the history of economic thought. It continues to be a highly topical subject in modern macroeconomics because it is the keystone of the new monetary policy. On classical and Post...

In this paper we study a new type of latent model in which only the rank statistics of the depen- dent variable is observed. This problem appears naturally in the microeconometric literature, in particular in the case of the parametric estimation of a production function when the output is...

Abstract The elasticity of risky sexual behavior to changes in local HIV infection prevalence is estimated using a longitudinal survey of the sexual behavior and health of gay men in San Francisco during the 1980s. An average respondent decreases risky behavior by about 5% in response to a 10%...

The elasticity of risky sexual behavior to changes in local HIV infection prevalence is estimated using a longitudinal survey of the sexual behavior and health of gay men in San Francisco during the 1980s. An average respondent decreases risky behavior by about 5% in response to a 10% increase...

The elasticity of risky sexual behavior to changes in local HIV infection prevalence is estimated using a longitudinal survey of the sexual behavior and health of gay men in San Francisco during the 1980s. An average respondent decreases risky behavior by about 5% in response to a 10% increase...

This article shows how to construct a likelihood for a general class of censoring problems. This likelihood is proven to be valid, i.e. its maximizer is consistent and the respective root-n estimator is asymptotically efficient and normally distributed under regularity conditions. The method...

The recent availability of Chapter 12 bankruptcy and the more frequent use of lender liability suits by borrowers are factors that may be adversely affecting the supply of agricultural loans. An experiment using hypothetical loan applications was undertaken involving 34 banks in western...