Economics research outputs

2014

CategoryPaper no.TitleAuthors
Discussion Paper14/05Advances in Auctions

Todd R. Kaplan and Shmuel Zamir

Discussion Paper14/04Strategic Experimentation with Competition and Private Arrival of Information

Kaustav Das

Discussion Paper14/03A Theory of Trade Policy Under Dictatorship and Democratization

Ben Zissimos

Discussion Paper14/02Horizontal, Vertical, and Conglomerate Cross Border Acquisitions

Nils Herger and Steve McCorriston

Discussion Paper14/01Explaining Behavior in the "11-20" Game

Lawrence C.Y Choo and Todd R. Kaplan

2013

CategoryPaper no.TitleAuthors
Discussion Paper13/15Strategic Experimentation with Heterogeneous Agents and Payoff Externalities

Kaustav Das

Discussion Paper13/14Dynamic Moral Hazard and Stopping

Robin Mason and Juuso Välimäki

Discussion Paper13/13Decentralised Bilateral Trading in a Market with Incomplete Information

Kalyan Chatterjee and Kaustav Das

Discussion Paper13/12Consistent Model Specification Testing

James Davidson and Andreea G. Halunga

Discussion Paper13/11Trejos-Wright with a 2-unit bound: existence and stability of monetary steady states

Pidong Huang and Yoske Igarashi

Discussion Paper13/10Why Ten $1’s Are Not Treated as a $10.

Pidong Huang and Yoske Igarashi

Discussion Paper13/09Distributional effects of hiring through networks

Yoske Igarashi

Discussion Paper13/08Universal vs separated banking with deposit insurance in a macro model

Tatiana Damjanovic, Vladislav Damjanovic and Charles Nolan

Discussion Paper13/07Monetary Transmission to UK Retail Mortgage Rates before and after August 2007

Jack R. Rogers

Discussion Paper13/06Fixed versus Variable Rate Debt Contracts and Optimal Monetary Policy

Tatiana Kirsanova and Jack Rogers

Discussion Paper13/05Quantile regression with clustered data

Paulo M.D.C. Parente and J.M.C. Santos Silva

Discussion Paper13/04Assessing the empirical relevance of Walrasian labor frictions to business cycle Fluctuations

Joao Madeira

Discussion Paper13/03Should Central Bank respond to the Changes in the Loan to Collateral Value Ratio and in the House Prices?

Tatiana Damjanovic and Sarunas Girdenas

Discussion Paper13/02Discrimination via Exclusion: An Experiment on Group Identity and Club Goods

Surajeet Chakravarty and Miguel A. Fonseca

Discussion Paper13/01Monetary regimes and statistical regularity: the Classical Gold Standard (1880-1913) through the lenses of Markov models

Daniela Bragoli, Camilla Ferretti, Piero Ganugi and Giancarlo Ianulardo

2012

CategoryPaper no.TitleAuthors
Discussion Paper12/08Endogeneous Risk in Monopolistic Competition

Vladislav Damjanovic

Discussion Paper12/07The Effect of Social Fragmentation on Public Good Provision: an Experimental Study

Surajeet Chakravarty and Miguel A. Fonseca

Discussion Paper12/06An Experiment on the Causes of Bank Run Contagions

Surajeet Chakravarty,
Miguel A. Fonseca and Todd R. Kaplan

Discussion Paper12/05Universality of Nash Components

Dieter Balkenborg and Dries Vermeulen

Discussion Paper12/04Evaluating the Role of Firm-Specific Capital in New Keynesian Models

Joao Madeira

Discussion Paper12/03Microfoundations for the Environmental Kuznets Curve: Invoking By-Production, Normality and Inferiority of Emissions

Sushama Murty

Discussion Paper12/02On the Theory of By-Production of Emissions

Sushama Murty

Discussion Paper12/01Universal banking, competition and risk in a macro model

Tatiana Damjanovic, Vladislav Damjanovic and Charles Nolan

2011

CategoryPaper no.TitleAuthors
Discussion Paper11/11A Cautionary Note on Tests for Overidentifying Restrictions

Paulo M.D.C. Parente (Department of Economics, University of Exeter)
Joao M.C. Santos Silva (University of Essex and CEMAPRE)

Discussion Paper11/10The Theory of By-Production of Emissions and Capital-Constrained Non-Cooperative Nash Outcomes of a Global Economy

Sushama Murty

Discussion Paper11/09International Taxation and FDI Strategies: Evidence from US Cross-Border Acquisitions

Nils Herger, Christos Kotsogiannis and Steve McCorriston

Discussion Paper11/08Degree of Policy Precommitment in the UK: An Empirical Investigation of Monetary and Fiscal Policy Interactions

Tatiana Kirsanova  (University of Exeter)
Stephanus le Roux (Department for Work and Pensions)

Discussion Paper11/07Inequality in Developing Economies: The Role of Institutional Development

Adalgiso Amendola, Joshy Easaw and Antonio Savoia

Discussion Paper11/06Co-ordinating Climate and Trade Policies: Pareto Efficiency and the Role of Border Tax Adjustments

Michael Keen and Christos Kotsogiannis

Discussion Paper11/05Why has Britain fewer marginal seats than it used to?

Robert Hodgson and John Maloney

Discussion Paper11/04To assemble to resemble? A study of tax disparities among French municipalities

Marie-Laure Breuillé Pascale Duran-Vigneron & Anne-Laure Samson

Discussion Paper11/03The Incentive Structure of Impure Public Good Provision - The Case of International Fisheries

Michael Finus, Raoul Schneider and Pedro Pintassilgo

Discussion Paper11/02Expectations Traps and Monetary Policy with Limited Commitment

Christoph Himmels and Tatiana Kirsanova

Discussion Paper11/01On modeling pollution-generating technologies

Sushama Murty, R. Robert Russell and Steven B. Levkoff

2010

CategoryPaper no.TitleAuthors
Discussion Paper10/11Unit Versus Ad Valorem Taxes: The Private Ownership of Monopoly In General Equilibrium

Charles Blackorby
and Sushama Murty

Discussion Paper10/10Constraints on profit income distribution and production efficiency in private ownership economies with Ramsey taxation

Sushama Murty

Discussion Paper10/09Economic Voting in Britain, 1857-1914

Robert Hodgson and John Maloney

Discussion Paper10/08The Treasury and the New Cambridge School in the 1970s

John Maloney

Discussion Paper10/07An Experimental Investigation of Entry Cost Effects in Sealed Bid Dollar Auctions

Surajeet Chakravarty and Sudeep Ghosh

Discussion Paper10/06Vote or Shout

Surajeet Chakravarty and Todd R. Kaplan

Discussion Paper10/05The Benefits of Costly Voting

Surajeet Chakravarty, Todd R. Kaplan and Gareth Myles

Discussion Paper10/04Optimal Allocation without Transfer Payments

Surajeet Chakravarty and Todd R. Kaplan

Discussion Paper10/03International Environmental Agreements under Uncertainty: Does the Veil of Uncertainty Help?

Michael Finus and Pedro Pintassilgo

Discussion Paper10/02Political Economy of Mass Media: Public Good, News and Voting Behaviour

Cosimo Scagliusi

Discussion Paper10/01Where strategic and evolutionary stability depart - a study of minimal diversity games

Dieter Balkenborg, Stefano Demichelis and Dries Vermeulen

2009

CategoryPaper no.TitleAuthors
Working Paper09/05Optimism and Pessimism in Games

Jürgen Eichberger and David Kelsey

Working Paper09/04The interest rate - exchange rate nexus: exchange rate regimes and policy equilibria

Christoph Himmels and Tatiana Kirsanova

Working Paper09/03The α-MEU Model: A Comment

Jürgen Eichberger, Simon Grant, David Kelsey and Gleb A. Koshevoy

Working Paper09/02Neutral Optima in Informed Principal Problems with Common Values

Dieter Balkenborg and Miltiadis Makris

Working Paper09/01Straightening The Phillips Curve, 1968-76

John Maloney

2008

CategoryPaper no.TitleAuthors
Working Paper08/16Type I and Type II Fractional Brownian Motions: a Reconsideration

James Davidson and Nigar Hashimzade

Working Paper08/15A New Keynesian Model with Overtime Labor

Joao Madeira

Working Paper08/14The Consequences of Zakat for Capital Accumulation

D.H. Norulazidah, P.H. Omar Ali and Gareth D. Myles

Working Paper08/13Discretionary Policy and Multiple Equilibria in LQ RE Models

Andrew P. Blake and Tatiana Kirsanova

Working Paper08/12Announcement or Contribution? The Relative Efficiency of Manipulated Lindahl Mechanisms

Nigar Hashimzade and Gareth D. Myles

Working Paper08/11When is a Time Series I(0)?

James Davidson

Working Paper08/10Endogenous Transaction Costs

V. Filipe Martins-Da-Rocha AND Yiannis Vailakis

Working Paper08/09Evidence on the Insurance Effect of Redistributive Taxation

Charles Grant, Christos Koulovatianos, Alexander Michaelides and Mario Padula

Working Paper08/08Public Goods and Tax Competition in a Two-Sided Market

Christos Kotsogiannis and Konstantinos Serfes

Working Paper08/07Representation and Weak Convergence of Stochastic Integrals with Fractional Integrator Processes

James Davidson and Nigar Hashimzade

Working Paper08/06Refined best-response correspondence and dynamics

Dieter Balkenborg, Josef Hofbauer and Christoph Kuzmics

Working Paper08/05Tests of Bias in Log-Periodogram Regression

James Davidson and Philipp Sibbertsen

Working Paper08/04An Experiment on Forward versus Backward Induction: How Fairness and Levels of Reasoning Matter

Dieter Balkenborg and Rosemarie Nagel

Working Paper08/02Inflation Bias with Dynamic Phillips Curves and Impatient Policy Makers

Tatiana Kirsanova, David Vines and Simon Wren-Lewis

Working Paper08/01Inflation-Conservatism and Monetary-Fiscal Policy Interactions

Andrew P. Blake and Tatiana Kirsanova

2007

CategoryPaper no.TitleAuthors
Working Paper07/06Strategic Monetary and Fiscal Policy Interactions: An Empirical Investigation

Matteo Fragetta and Tatiana Kirsanova

Working Paper07/05Optimal Fiscal Feedback on Debt in an Economy with Nominal Rigidities

Tatiana Kirsanova and Simon Wren-Lewis

Working Paper07/04Tests for Cointegration with Structural Breaks Based on Subsamples

James Davidson and Andrea Monticini

Working Paper07/03Ad Valorem Taxes and the Fiscal Gap in Federations

Christos Kotsogiannis and Diego Martinez

Working Paper07/02Corruption Around the World: Evidence from a Structural Model

Axel Dreher, Christos Kotsogiannis and Steve McCorriston

Working Paper07/01Federal Tax Competition and the Efficiency Consequences for Local Taxation of Revenue Equalization

Christos Kotsogiannis

2006

CategoryPaper no.TitleAuthors
Working Paper06/12A Comparison of National Saving Rates in the UK, US and Italy

Tatiana Kirsanova and James Sefton

Working Paper06/11Optimal Fiscal Policy Rules in a Monetary Union

Tatiana Kirsanova, Mathan Satchi, David Vines and Simon Wren-Lewis

Working Paper06/10Five-Equation Macroeconomics A Simple View of the Interactions Between Fiscal Policy and Monetary Policy

Tatiana Kirsanova, Sven Jari Stehn and David Vines

Working Paper06/09On the Relationship between the Investment-Cashflow Sensitivity and the Degree of Financing Constraints

Alfonsina Iona, Leone Lionida and Aydin Ozkan

Working Paper06/08Asymmetry of Shocks and Convergence in Selected Asean Countries: A Dynamic Analysis

Carlos Cortinhas

Working Paper06/07Updating Choquet Beliefs.

Jurgen Eichberger, Simon Grant and David Kelsey

Working Paper06/06Differentiating Ambiguity: A Comment.

Jurgen Eichberger, Simon Grant and David Kelsey

Working Paper06/05Optimism and Pessimism in Games.

Jurgen Eichberger and David Kelsey

Working Paper06/04Externalities, Monopoly and the Objective Function of the Firm

David Kelsey and Frank Milne

Working Paper06/03Seignorage and Capital Taxation: Tax Competition Revisited

Miltiadis Makris

Working Paper06/02Complementarities and Macroeconomics: Poisson Games

Miltiadis Makris

Working Paper06/01Incentives for Motivated Agents under an Administrative Constraint

Miltiadis Makris

2005

CategoryPaper no.TitleAuthors
Working Paper05/07On the Incentives to Experiment in Federations

Christos Kotsogiannis and Robert Schwager

Working Paper05/06Influence of aggregation and measurement scale on ranking a compromise alternative in AHP

Alessio Ishizaka, Dieter Balkenborg and Todd Kaplan

Working Paper05/05How Do Institutions Affect Corruption and the Shadow Economy.

Axel Dreher, Christos Kotsogiannis and Steve McCorriston

Working Paper05/04Ambiguity and Social Interaction.

Jurgen Eichberger, David Kelsey and Burkhard C. Schipper

Working Paper05/03Market distortions and corporate governance.

David Kelsey and Frank Milne

Working Paper05/02Joining the 'Europe' and Shrinking the Pound: Britain's Single Currency Debate of the Late 1860s.

John Maloney

Working Paper05/01Imperfect Competition, Indirect Tax Harmonization and Public Goods.

Christos Kotsogiannis and Miguel-Angel Lopez-Garcia

2004

CategoryPaper no.TitleAuthors
Working Paper04/04On extended liability in a model of adverse selection

Dieter Balkenborg

Working Paper04/03It's My Turn . . . Please, After You: An Experimental Study of Cooperation and Social Conventions

Todd R. Kaplan and Bradley Ruffle

Working Paper04/02The Optimal Rewards in Contests

Chen Cohen, Todd R. Kaplan and Aner Sela

Working Paper04/01Indeterminacy, intergenerational redistribution, endogenous longevity and human capital accumulation

Giam Pietro Cipriani and Miltiadis Makris

2003

CategoryPaper no.TitleAuthors
Working Paper03/04Tax Competition and Politics: Double-Edged Incentives Revisited

Ben Lockwood and Miltiadis Makris

Working Paper03/03Forecasting Value at Risk in Emerging Arab Stock Markets

C. Guermat, K. Hadri and C. C. Kucukozmen

Working Paper03/02The Practice of Zakat: An Empirical Examination of Four Gulf Countries

C. Guermat, A.T. Al-Utaibi and J.P. Tucker

Working Paper03/01The Influence of globalization on taxes and social policy - an empirical enalysis for OECD countries

Axel Dreher

2002

CategoryPaper no.TitleAuthors
Working Paper02/03Taylor Rules in the Open Economy

Campbell Leith and Simon Wren-Lewis

Working Paper02/02Dividing the Indivisible: Procedures for Allocating Cabinet Ministries to Political Parties in a Parliamentary System

Steven J. Brams and Todd R. Kaplan

Working Paper02/01Tax competition in federations and the welfare consequences of decentralization

Michael J Keen and Christos Kotsogiannis

2001

CategoryPaper no.TitleAuthors
Working Paper01/11Political Uncertainty and Policy Innovation

Christos Kotsogiannis and Robert Schwager

Working Paper01/10A Note on Revenue Effects of Asymmetry in Private-Value Auctions

Todd R. Kaplan and Shmuel Zamir

Working Paper01/09All-Pay Auctions with Variable Rewards

Todd R. Kaplan, Israel Luski, Aner Sela and David Wettstein

Working Paper01/08Worker Discretion and Misallocation of Talent within Firms

Hans K. Hvide and Todd R. Kaplan

Working Paper01/07The Regional Policy of the European Union and the Enlargement Process to Central and Eastern European Countries

J. Andrés Faíña and Jesús López Rodríguez

Working Paper01/06On the Evolutionary Selection of Nash Equilibrium Components

Dieter Balkenborg and Karl H. Schlag

Working Paper01/05A Randomized Procedure for Choosing Data Transformation

Valentina Corradi and Norman R. Swanson

Working Paper01/04Strategic Advance Production

Sougata Poddar and Dan Sasaki

Working Paper01/03Behind the Cube Rule: Implications of and Evidence against a Fractal Electoral Geography

John Maloney, Bernard Pearson and Andrew Pickering

Working Paper01/02An OLG Model of Endogenous Growth and Ageing

Giam Pietro Cipriani and Miltos Makris

Working Paper01/01Bootstrap Specification Tests with Dependent Observations and Parameter Estimation Error

Valentina Corradi and Norman R. Swanson

2000

CategoryPaper no.TitleAuthors
Working Paper00/20Here's something you never asked for, didn't know existed, and can't easily obtain: A search model of gift giving

Bradley J. Ruffle and Todd R. Kaplan

Working Paper00/19The Dynamics of Firms' Credit Ratings

Mohan Bijapur

Working Paper00/18Borrower and Lender Reputation Effects: A New Theory of Financial Intermediation

Mohan Bijapur

Working Paper00/17Strategic inventories in two-period oligopoly

H. Peter Mollgaard, Sougata Poddar and Dan Sasaki

Working Paper00/16Preferred bidders' curse in a simultaneous ascending auction with a case study on an Australian broadband spectrum auction

Trond Trond Romsås and Dan Sasaki

Working Paper00/15A Large Poisson Currency Crises Game: Towards a Theory of Both the Onset and the Swiftness of Currency Attacks

Miltos Makrisy

Working Paper00/14Why Banks Should Keep Secrets

Todd R. Kaplan

Working Paper00/13Bounds for inference with nuisance parameters present only under the alternative

Filippo Altissimo and Valentina Corradi

Working Paper00/12A Consistent Test for Nonlinear Out of Sample Predictive Accuracy

Valentina Corradi and Norman R. Swanson

Working Paper00/11Strong Rules for Detecting the Number of Breaks in a Time Series

Filippo Altissimo and Valentina Corradi

Working Paper00/10Product Quality and Environmental Taxation

Gareth D. Myles and Ayse Uyduranoglu

Working Paper00/09On the Membership of Decision-Making Committees

George Bulkley, Gareth D. Myles and Bernard R. Pearson

Working Paper00/08Individually-Rational Union Membership

George Bulkley and Gareth D. Myles

Working Paper00/07Advantageous Selection in Insurance Market

David de Meza, David C. Webb

Working Paper00/06Innovative Activity and Sunk Cost

Todd R. Kaplan, Israel Luski, David Wettstein

Working Paper00/05Recent Developments on the Links between Foreign Direct Investment and Trade

Steve McCorriston

Working Paper00/04Trade Flows and Spatial Effects: The Gravity Model Revisited

Anca Porojan

Working Paper00/03Evaluating Alternative Exchange Rate Regimes: Time Consistency, Inertia and the Identification of Shocks in a New Keynesian Model

Rebecca L. Driver

Working Paper00/02Are Our FEERs Justified?

Giacomo Barisone, Rebecca L. Driver and Simon Wren-Lewis

Working Paper00/01Agenda Formation in Issue-by-Issue Bargaining Games

Francesca Flamini

1999

CategoryPaper no.TitleAuthors
Discussion Paper99/21Voting over social security with uncertain lifetimes

Philippe De Donder
GREMAQ, Universit de Toulouse I, France

and

Jean Hindriks
University of Exeter, UK

Discussion Paper99/20Optimal Tax Mix and Public Goods Supply Under Multilateral Tax Evasion
Discussion Paper99/19Income Tax Compliance: The No-Commitment Game

Jean Hindriks

Discussion Paper99/18The targeting of Social Security: A Tax Reform Approach*

Jean Hindriks

Discussion Paper99/17New Trade Theory and Aggregate Export Equations: An Application of Panel Cointegration

Rebecca Driver*
Bank of England

and

Simon Wren-Lewis
University of Exeter

Discussion Paper99/16Backpropagation Neural Network Versus Translog Model in Stochastic Frontiers: A Monte Carlo Comparison

C Guermat*
University of Exeter

and

K Hadri*
City University, London

Discussion Paper99/15Mobility and Redistributive Politics

Jean Hindriks*
University of Exeter

Discussion Paper99/14Heteroscedasticity in Stochastic Frontier Models: A Monte Carlo Analysis

C Guermat
University of Exeter

and

K Hadri
City University, London

March 1999

Discussion Paper99/13Interactions Between Monetary and Fiscal Policy Rules*

Campbell Leith
Simon Wren-Lewis
University of Exeter

Discussion Paper99/12A Note on the Determinants of UK Business Cycles*

Alexander Day
Campbell Leith
Simon Wren-Lewis
University of Exeter

Discussion Paper99/11Aggregate Investment, Tobin's q and Insolvency Risk*

Campbell Leith
University of Exeter

Discussion Paper99/10Outside Options, Ownership and Incentives Revisited

David de Meza
London School of Economics and University of Exeter

and

Ben Lockwood
University of Warwick and CEPR

Discussion Paper99/09Moment Approximation for Least Squares Estimators in Dynamic Regression Models with a Unit Root

Jan F Kiviet*
University of Amsterdam

and

Garry DA Phillips**
University of Exeter

Discussion Paper99/08Doubly Heteroscedastic stochastic production frontiers with an application to English cereal farms

K. Hadri*, City University, London

and

C Guermat and J Whittaker, University of Exeter

Discussion Paper99/07Does Job Matching Explain Job Satisfaction? Evidence for UK Graduates

CR Belfield*
School of Education, University of Birmingham

and

RDF Harris University of Exeter

Discussion Paper99/06An Alternative Approach to Obtaining Nagar-Type Moment Approximations in Simultaneous Equation Models

Kaddour Hadri
City University, London, UK
University of Exeter, UK

and

Garry D.A. Phillips
University of Exeter, UK

Discussion Paper99/05An Alternative Approach to Obtaining Nagar-Type Moment Approximations in Simultaneous Equation Models

Garry D.A. Phillips

Discussion Paper99/04The Bias of the 2SLS Variance Estimator

Jan F. Kiviet
Tinbergen Institute & Faculty of Economics and Econometrics
University of Amsterdam

and

Garry D.A. Phillips

Discussion Paper99/03Higher-order Asymptotic Expansions of the Least-squares Estimation Bias in First-order Dynamic Regression Models

Jan F. Kiviet
Tinbergen Institute & Faculty of Economics and Econometrics
University of Amsterdam

and

Garry D.A. Phillips

Discussion Paper99/02Effects of Rationing on Consumer Behaviour in Chinese Urban Households

Hua Ding
Visiting Scholar, University of Exeter, UK

and

Kaddour Hadri
City University, London, UK

Discussion Paper99/01A Survey of Total Factor Productivity and Technical Change in the Chinese Economy 1979-1996

Qi Liang*

and

Garry D.A. Phillips
University of Exeter, School of Business and Economics
Exeter, UK

1998

CategoryPaper no.TitleAuthors
Discussion Paper98/15The Gilt-Equity Yield Ratio and the Predictability of UK and US Equity Returns

Richard D. F. Harris

and

René Sanchez-Valle

Discussion Paper98/14Forecasting (Log) Volatility Models

George A Christodoulakis*, **

and

Stephen E Satchell**, ***

Discussion Paper98/13Testing the Tax Smoothing Hypothesis of Fiscal Policy: some Evidence from Italy

Giacomo M Barisone
University of Exeter

Discussion Paper98/12A test of the expectations hypothesis of the term structure using cross-section data

Richard D Harris
University of Exeter

Discussion Paper98/11The expectations hypothesis of the term structure and time varying risk premia: a panel data approach

Richard D Harris
University of Exeter

Discussion Paper98/10The Formalist Revolution or what happened to orthodox economics after World War II
Discussion Paper98/09Corruption, extortion and evasion*

Jean Hindriks
University of Exeter

Michael Keen
University of Essex
International Monetary Fund Washington DC
Institute for Fiscal Studies London

Abhinay Muthoo

Discussion Paper98/08Tax versus transfer competition*

Jean Hindriks
University of Exeter

Elias Tzavalis
University of Exeter

Discussion Paper98/07When will capitalists meet their match? The property rights theory of the firm with endogenous timing*

David de Meza
University of Exeter

Ben Lockwood
University of Exeter

Discussion Paper98/06Inference for unit roots in dynamic panels with heteroscedastic and serially correlated errors

Richard Harris
University of Exeter

Elias Tzavalis
University of Exeter

Discussion Paper98/05On the Use of Collateral

Giuseppe Coco
University of Exeter

Discussion Paper98/04Twenty-fifth anniversary of the UK health economists' study group, June 1997. Where are we now in British health economics?

Mark Blaug
University of Exeter

Discussion Paper98/03Fact or fiction? Conference on realism in economics; Erasmus Institute for Philosophy and Economics, Erasmus University; 'Ugly currents in modern economics'

Mark Blaug
University of Exeter

Discussion Paper98/02Misunderstanding classical economics - the Sraffian interpretation of the surplus approach

Mark Blaug
University of Exeter

1997

CategoryPaper no.TitleAuthors
Discussion Paper97/15Credit rationing and the welfare gain from Usury laws

Giuseppe Coco
University of Exeter

Discussion Paper97/14Fiscal policy, debt and coalition behaviour: theory and evidence form Italy

Giacomo M. Barisone
University of Exeter

Discussion Paper97/13Who Gains (Relatively) From Monetary Union? An Estimate of Relative Net Benefits for EU 15 Member States*

Anca-Manuela Porojan
University of Exeter

Discussion Paper97/12Tests of Structural Stability of Risk Premia and Returns Relationships

Evangelos Karanikas
University of Exeter

Elias Tzavalis
University of Exeter

Working Paper97/11Which alternative to choose: does the excess sensitivity hypothesis or a time varying term premium explain the failure of the rational expectations hypothesis of the term structure?

Elias Tzavalis

Discussion Paper97/10The Non-Neutrality of Border Tax Adjustments for Environmental Taxes Under Imperfect Competition

S McCorriston
University of Exeter

I.M. Sheldon
Ohio State University

Discussion Paper97/09Interest Rates and the Price Level

Campbell Leith
University of Exeter

Paul Warren

Simon Wren-Lewis*
University of Exeter

Discussion Paper97/08Analyst Optimism and the Magnitude of Earnings Growth

Richard D.F. Harris
University of Exeter

Discussion Paper97/07Money, Labour Supply and Growth in a Liquidity Costs Economy

Alberto Petrucci
University of Molise
Campobasso
LUISS G. Carli
Rome

Discussion Paper97/06Tests of the Expectations Hypothesis of the Term Ttructure in a Model with Bayesian Learning

George Bulkley
Richard D.F. Harris
University of Exeter

Paul Weller*
University of Iowa

Discussion Paper97/05Inference for Unit Roots in Dynamic Panels in the Presence of Deterministic Trends

Richard D.F. Harris
Elias Tzavalis

University of Exeter

Discussion Paper97/04Interest Rate Feedback Rules in an Open Economy with Forward Looking Inflation

Campbell B Leith
Simon Wren-Lewis

University of Exeter

Discussion Paper97/03Inter-Regional Insurance*

Ben Lockwood
University of Exeter and CEPR**

Discussion Paper97/02Collateral, Heterogeneity in Risk Attitude and the Credit Market Equilibrium

Guiseppe Coco*
University of Exeter and CEPR

Discussion Paper97/01Does Asset Ownership Always Motivate Managers? The Property Rights Theory of the Firm with Alternating - Offers Bargaining

David de Meza
Ben Lockwood*

University of Exeter and CEPR

1996

CategoryPaper no.TitleAuthors
Discussion Paper96/21Public firms anre repellent

Saul Estrin, David de Meza, David Parker

Discussion Paper96/19Strategic bargaining with destructive power

Paola Manzini

Discussion Paper96/18Optimal taxation and the private provision of public goods

Jun-ichi Itaya, David de Meza, Gareth Myles

Discussion Paper96/17Strategic bargaining with destructive power: the role of commitment

Paola Manzini

Discussion Paper96/16On the foundations of wage bargaining

Paola Manzini, Dennis J Snower

Discussion Paper96/15Game theoretic models of wage bargaining

Paola Manzini

Discussion Paper96/14Why do the gains from trade reform vary between countries?

TW Hertel, Stevan McCorriston

Discussion Paper96/13Price-cost margins in the Italian grocery trade: an emprical analysis

Monica Giulietti

Discussion Paper96/12Indvidually rational union membership

George Bulkley, Gareth Myles

Discussion Paper96/11Chinese emprical evidence on the linear and quadratic expenditure systems

Hua Ding, Kaddour Hadri

Discussion Paper96/10Imperfect competition, the marginal cost of public finds and public goods supply

Ben Lockwood

Discussion Paper96/09Why Does the Ratio of Book to Market Value of Equity Explain Cross-Section Stock Returns?

George Bulkley
University of Exeter

Richard Harris
University of Exeter

Discussion Paper96/08Irrational Analysts' Expectations as a Cause of Excess Volatility in Stock Prices

George Bulkley

University of Exeter

Richard Harris
University of Exeter

Discussion Paper96/07European Monetary Union, Asymmetric Shocks and Inertia

Rebecca Driver
Ujniversity of Exeter

Simon Wren-Lewis
University of Exeter

Discussion Paper96/06How Robust are FEERs?

Rebecca Driver
University of Exeter

Simon Wren-Lewis
University of Exeter

Discussion Paper96/05State Manipulation and Asymptotic Inefficiency in a Dynamic Model of Monetary Policy*

Henrick Jensen
University of Copenhagen**

Ben Lockwood
University of Exeter***

Discussion Paper96/04Inference for Unit Roots in Dynamic Panels

Richard Harris
University of Exeter

Elias Tzavalis
University of Exeter

Discussion Paper96/03Posted vs. Negotiated Prices under Incomplete Information

Piergiovanna Natale*
Università Cattolica del Sacro Cuore, Milano

Discussion Paper96/02Specific and Ad Valorem Tariffs are not Equivalent in Trade Wars*

Ben Lockwood**
University of Exeter

Kar-yiu-Wong***
University of Washington

Discussion Paper96/01Policy Regime Changes and the Long-Run Sustainability of Fiscal Policy: An Application to Greece

Stelios Makrydakis
Centre of Planning and Economic Research

Elias Tzavalis
Department of Economics, University of Exeter

Athanassios Balfoussias*
Centre of Planning

1995

CategoryPaper no.TitleAuthors
Discussion Paper95/22The Economics of Artists' Labour Markets

Ruth Towse
University of Exeter

Discussion Paper95/21ON EFFICIENT SIMULATIONS IN DYNAMIC MODELS

Karim M Abadir*
Department of Economics, University of Exeter

Discussion Paper95/20Gluts, Dearths and Market Efficiency

Jane Black and David de Meza

Discussion Paper95/19FORECASTING INFLATION FROM THE TERM STRUCTURE

Elias Tzavalis
Department of Economics
University of Exeter
Exeter EX4 4RJ, UK

M.R. Wickens*
Department of Economics
University of York
Your YO1 5DD, UK

Discussion Paper95/18Rogoff's

Ben Lockwood

University of Exeter and CEPR*

Discussion Paper95/17Pearson M-Estimators in Regression Analysis

Michael A Magdalinos*
Athens University of Economics and Business

and

George P Mitsopoulos
Athens University of Economics and Business

Discussion Paper95/16COMPETITION AS AN END-STATE AND COMPETITION AS A PROCESS

Mark Blaug
University of Exeter*

Discussion Paper95/15ENTREPRENEURSHIP IN THE HISTORY OF ECONOMIC THOUGHT

Mark Blaug
University of Exeter*

Discussion Paper95/14A note on discontinuous value functions and strategies in afine-quadratic differential games

Henrick Jensen
University of Copenhagen*

Ben Lockwood
University of Exeter and CEPR**

Discussion Paper95/13State-Contingent Inflation Contracts and Output Persistence*

Ben Lockwood

University of Exeter and CEPR**

Discussion Paper95/12Bias nonmonotonicity in stochastic difference equations

Karim M Abadir

and

Kaddour Hadri*

Discussion Paper95/11Economic Mismeasurement and the Bias in Policy Choice

Gareth D. Myles
University of Exeter

Discussion Paper95/10AN INTRODUCTION TO HYPERGEOMETRIC FUNCTIONS FOR ECONOMISTS

Karim M Abadir*
University of Exeter

Discussion Paper95/09MULTIPRODUCT FIRMS' PRICING BEHAVIOUR IN THE ITALIAN GROCERY TRADE

Monica Giulietti*
Agricultural Economics Unit, University of Exeter

Discussion Paper95/08Tax Evasion, Social Customs and Optimal Auditing

Gareth D. Myles
University of Exeter

and

Robin A Naylor
University of Warwick

Discussion Paper95/07TESTING FOR COINTEGRATION

K.M. Abadir*

Department of Economics, Amory Building, Rennes Drive
University of Exeter, Exeter EX4 4RJ, UK.

Discussion Paper95/06Taxation and the control of international oligopoly

Gareth D. Myles

University of Exeter

Discussion Paper95/05Efficiency, environmental contaminants and farm size: testing for links using stochastic production frontiers

K. HADRI and J WHITTAKER*

University of Exeter

Discussion Paper95/04TOO FEW RISK TAKERS

J.M.Black

David de Meza

University of Exeter (UK)

Discussion Paper95/03COMMODITY TAX HARMONISATION WITH PUBLIC GOODS- AN ALTERNATIVE PERSPECTIVE

Ben Lockwood**
University of Exeter and CEPR*

Discussion Paper95/02THE BORROWER'S CURSE: OPTIMISM, FINANCE AND ENTREPRENEURSHIP

David de Meza
Department of Economics, University of Exeter.

Clive Southey
Department of Economics, University of Guelph.

Discussion Paper95/01REGRESSION-BASED TESTS FOR PERSISTANCE IN CONDITIONAL VARIANCES

Zacharias Psaradakis
Department of Economics, University of Bristol, U.K.

Elias Tzavalis
University of Exeter

1994

CategoryPaper no.TitleAuthors
Discussion Paper94/09THE PERSISTANCE IN VOLATILITY OF THE US TERM PREMIUM 1970-1986

Elias Tzavalis
University of Exeter

M.R.Wickens
Department of Economics, University of York, U.K.

Discussion Paper94/08DESIGNING MONETARY POLICY WHEN UNEMPLOYMENT PERSISTS*

Ben Lockwood
Professor of Economics, University of Exeter, CEPR Research Fellow

Marcus Miller
Professor of Economics, University of Warwick, CEPR Research Fellow

Lei Zhang
PhD in Economics, University of Warwick, U.

Discussion Paper94/07COINTEGRATION THEORY, EQUILIBRIUM AND DISEQUILIBRIUM ECONOMICS*

Karim M.Abadir
University of Exeter

Discussion Paper94/06THE ASYMPTOTIC INFLUENCE OF VAR DIMENSIONS ON ESTIMATOR BIASES

Karim M.Abadir

Kaddour Hadri

Elias Tzavalis

University of Exeter

Discussion Paper94/05THE MARGINAL DENSITY OF BIVARIATE COINTEGRATION ESTIMATORS

Karim M.Abadir
University of Exeter

Paolo Paruolo*
University of Bologna

Discussion Paper94/04THE JOINT MOMENT GENERATING FUNCTION OF QUADRATIC FORMS IN MULTIVARIATE AUTOREGRESSIVE SERIES*

Karim M.Abadir
University of Exeter

Rolf Larson
Uppsala University

Discussion Paper94/03THE JOINT DENSITY OF TWO FUNCTIONALS OF A BROWNIAN MOTION

Karim M.Abadir*
University of Exeter

Discussion Paper94/02THE RATIONAL EXPECTATIONS HYPOTHESIS OF THE TERM STRUCTURE: RECONCILING THE EVIDENCE

Elias Tzavalis
University of Exeter

Micheal Wickens
Department of Economics, University of York

Discussion Paper94/01FISCAL POLICY, PUBLIC DEBT STABILIZATION AND POLITICS: THEORY AND EVIDENCE FROM THE US AND UK

Ben Lockwood
University of Exeter and CEPR

Apostolis Philippopoulos
University of Essex

Andy Snell
University of Edinburgh

1993

CategoryPaper no.TitleAuthors
Discussion Paper93/10An Introduction to the Theory and the Econometric Tests of the Rational Expectations Hypothesis of the Term Structure of Interest Rates

Elias Tzavalis

Discussion Paper93/09Multiple Markov-Perfect Equilibria in Infinite Horizon Linear-Quadratic Dynamic Games

Ben Lockwood

Discussion Paper93/08Is the Quantity Theory of Money True?

Mark Blaug

Discussion Paper93/07Why I Am Not A Constructivist, or Confessions of an Unrepentant Popperian

Mark Blaug

Discussion Paper93/06The Eqivalence Between Destination and Restricted Origin Tax Regimes

Ben Lockwood, David de Meza & Gareth Myles

Discussion Paper93/05An Eqiulibrium Model of Labour Transfers in Developing Countries in the Presence of a Third Wage with Application to Data from the West Bank

Ali Kadri

Discussion Paper93/04Estimation of Diseqilibrium Models Using the MGF and the CF Estimators

Kaddour Hadri

Discussion Paper93/03Evidence of Medium Cycles in US Data

Jean Fan

Discussion Paper93/02What has been Discarded? An Alternative Appraoch to Cycle and Growth

Jean Fan

Discussion Paper93/01A Note on Sargan Densities and Econometric Modelling

Kaddour Hadri

1992

CategoryPaper no.TitleAuthors
Discussion Paper92/12The Rationality of Appreciating Lots of Wine

Jane Black & David de Meza

Discussion Paper92/11A Cross-Section Test of the Present-Value Model for US Stock Prices

George Bulkley & Nick Taylor

Discussion Paper92/10Bootsrapping Two-Stage Least Squares Estimates

Wai Cheung Ip & Garry D.A.Phillips

Discussion Paper92/09Diversionary Tactics: Why Loans to Small Businesses are So Safe

Jane Black & David de Meza

Discussion Paper92/08House Prices, the Supply of Collateral, and the Enterprise Economy

Jane Black, David de Meza & David Jeffreys

Discussion Paper92/07Bias Assessment and Reduction in Linear Error-Correction Models

Jan F.Kiviet & Garry D.A.Phillips

Discussion Paper92/06Multi-firm Regulation without Lump-Sum Taxation

Ben Lockwood

Discussion Paper92/05Testing for Market Efficiency with Volatility Statistics: Some Exact Finite-Sample Results

Gary S.Shea

Discussion Paper92/04Gold Prices and the Interest Rate Term Structure During the Civil War; An Analysis of their Common Trends

Gary S.Shea

Discussion Paper92/03A Model of Tax Evasion with Group Conformity and Social Customs

Gareth D.Myles & Robin A.Naylor

Discussion Paper92/02Ramsey Pricing in Imperfectively Competitive Economies

Gareth D.Myles

Discussion Paper92/01Unnatural Monopoly

Saul Estrin & David de Meza