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Persistent link: https://www.econbiz.de/10005519104
This paper studies the problems of estimation and inference in the linear trend model: yt=à+þt+ut, where ut follows an autoregressive process with largest root þ, and þ is the parameter of interest. We contrast asymptotic results for the cases þþþ 1 and þ=1, and argue that the most...
Persistent link: https://www.econbiz.de/10005601537
This paper studies the problems of estimation and inference in the linear trend model y<sub>t</sub> = α + βt + u<sub>t</sub>, where u<sub>t</sub> follows an autoregressive process with largest root ρ and β is the parameter of interest. We contrast asymptotic results for the cases |ρ| 1 and ρ = 1 and argue that the most...
Persistent link: https://www.econbiz.de/10005557451
A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage. Authors have examined efficiency by looking at the spread of the gold points, gold point violations, the flow of gold, or by tests of various asset market criteria, including...
Persistent link: https://www.econbiz.de/10005088628
A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage. Authors have examined efficiency by looking at the spread of the gold points, gold point violations, or the flow of gold, or by tests of various asset market criteria, including...
Persistent link: https://www.econbiz.de/10005557294
A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage. Authors have examined efficiency by looking at the spread of the gold points, gold point violations, the flow of gold, or by tests of various asset market criteria, including...
Persistent link: https://www.econbiz.de/10005791868
We present a model with a monopolistic landlord and tenants with unobservable ability. In this setting, the landlord should use a wage contract to extract the full surplus due to ability since a share or fixed rent contract leaves some of the surplus in the hands of the tenants. We combine this...
Persistent link: https://www.econbiz.de/10005696095
A new data set shows the extensive use of sharecropping in modern U.S. agriculture particularly in wheat, rice, corn, soybeans, and cotton. For these five crops, I investigate the importance of risk and three types of incentive problems that are commonly regarded to 'cause' sharecropping. A...
Persistent link: https://www.econbiz.de/10005450667
Persistent link: https://www.econbiz.de/10005515116
Persistent link: https://www.econbiz.de/10005515119