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When are Supply and Demand Determined Recursively Rather than Simultaneously? Another look at the Fulton Fish Market Data
Graddy, Kathryn; Kennedy, Peter E - C.E.P.R. Discussion Papers - 2007
(OLS) is the recommended estimation procedure. Supply to a daily fish market is determined by the previous night’s catch …
Persistent link: https://www.econbiz.de/10005504667
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A Theory of Regular Markov Perfect Equilibria in Dynamic Stochastic Games: Genericity, Stability, and Purification
Doraszelski, Ulrich; Escobar, Juan - C.E.P.R. Discussion Papers - 2008
This paper develops a theory of regular Markov perfect equilibria in dynamic stochastic games. We show that almost all dynamic stochastic games have a finite number of locally isolated Markov perfect equilibria that are all regular. These equilibria are essential and strongly stable. Moreover,...
Persistent link: https://www.econbiz.de/10005497794
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The Estimation of Linear Models with Future Rational Expectations by Efficient and Instrumental Variable Methods
Wickens, Michael R. - C.E.P.R. Discussion Papers - 1986
This paper considers the estimation of a number of commonly used single-equation linear models, all of which have … proposed in each case. The choice of estimation method is usually represented as a trade-off between efficiency on the one hand … of an efficient estimation method depends on whether or not the model has a unique solution and often this will not be …
Persistent link: https://www.econbiz.de/10005656310
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Monetary Policy in an Estimated Open-Economy Model with Imperfect Pass-Through
Lindé, Jesper; Nessen, Marianne; Söderström, Ulf - C.E.P.R. Discussion Papers - 2004
We develop a structural model of a small open economy with gradual exchange rate pass-through and endogenous inertia in inflation and output. We then estimate the model by matching the implied impulse responses with those obtained from a VAR model estimated on Swedish data. Although our model is...
Persistent link: https://www.econbiz.de/10005123761
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Estimates of Bilateral Trade Elasticities and Their Implications for the Modelling of `1992'
Brenton, Paul; Winters, L. Alan - C.E.P.R. Discussion Papers - 1992
In this paper we use detailed trade and production data and a theoretically consistent model of demand - the Almost Ideal Demand System - to estimate bilateral trade elasticities, the key parameters required for quantification of the effects of the `1992' programme. Initial results for 70 West...
Persistent link: https://www.econbiz.de/10005123957
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Reform Without Losers: An Interpretation of China's Dual-Track Approach to Transition
Lau, Lawrence J; Qian, Yingyi; Roland, Gérard - C.E.P.R. Discussion Papers - 1998
worked in product and labour markets in China’s economic reform in practice. …
Persistent link: https://www.econbiz.de/10005504255
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One Third of the World's Growth and Inequality
Quah, Danny - C.E.P.R. Discussion Papers - 2002
This Paper studies growth and inequality in China and India – two economies that account for a third of the world … countries. For personal income inequalities in a China-India universe, the forces assuming first-order importance are …
Persistent link: https://www.econbiz.de/10005498030
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The Limits of Career Concerns in Federalism: Evidence from China
Persson, Petra; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2015
Performance-based promotion schemes in administrative hierarchies have limitations. Chinese provincial leaders, despite facing strong career concerns, make different policy decisions depending on their career backgrounds. Provincial party secretaries who rose from low to high positions within...
Persistent link: https://www.econbiz.de/10011165652
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A DSGE Model of China
Dai, Li; Minford, Patrick; Zhou, Peng - C.E.P.R. Discussion Papers - 2014
We use available methods for testing macro models to evaluate a model of China over the period from Deng Xiaoping …
Persistent link: https://www.econbiz.de/10011083573
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Trade liberalization and Embedded Institutional Reform: Evidence from Chinese Exporters
Khandelwal, Amit; Schott, Peter K.; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2012
If trade barriers are managed by inefficient institutions, trade liberalization can lead to greater-than-expected gains. We examine Chinese textile and clothing exports before and after the removal of externally imposed quotas. Both the surge in export volumes and the decline in prices after the...
Persistent link: https://www.econbiz.de/10011083645