Sharp convergence rates for fixed design regression estimators for negatively associated random variables are established. The rates are obtained by means of exponential inequalities, which hold under general conditions.

In many real world applications, decisions are usually made by collecting and judging information from multiple different data sources. Let us take the stock market as an example. We never make our decision based on just one single piece of advice, but always rely on a collection of information,...

This paper analyzes a two-country general equilibrium model with multiple stages of production and sticky prices. Working through the cross-country input-output relations and endogenous price stickiness, the model generates the observed patterns in international aggregate comovements following...

We show that Arrow-Debreu equilibria with countably additive prices in infinite-time economy under uncertainty can be implemented by trading infinitely-lived securities in complete sequential markets under two different portfolio feasibility constraints: wealth constraint, and essentially...

This paper investigates the contributions of staggered price contracts, staggered wage contracts, and an input-output production structure in generating the observed persistence of real output and inflation, and the weak but persistent response of real wages following monetary shocks. It...

Recent empirical studies reveal that monetary shocks cause persistent fluctuations in inflation and aggregate output. In the literature, few mechanisms have been identified to generate such persistence. In this paper, we propose a new mechanism that does so. Our model features an input-output...

Staggered price-setting and staggered wage-setting are commonly viewed as similar mechanisms in generating persistent real effects of monetary shocks. In this paper, we distinguish the two mechanisms in a dynamic stochastic general equilibrium framework. We show that, although the dynamic...

China as one of the largest emerging market economies enacted its anti-monopoly law in 2008, an important step in establishing a competitive environment. In this paper, we review the course of the drafting process and its revision of China’s anti-monopoly law. We will also analyze some of...

This paper provides an insight to the time-varying dynamics of the shape of the distribution of financial return series by proposing an exponential weighted moving average model that jointly estimates volatility, skewness and kurtosis over time using a modified form of the Gram-Charlier density...

Molecular hydrogen adsorption on MOF-210 was evaluated at the density functional theory level. The most stable H2 adsorption occurs near the acetenyls in the organic linker, but its binding energy (0.113 eV) is not sufficient to satisfy the minimum value (0.24 eV) required for practical...