This working paper series is a collection of pre-prints reflecting the current research by faculty and graduate students in the Department of Economics.

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Submissions from 2007

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Cost Improvements, Returns to Scale, and Cost Inefficiencies for Real Estate Investment Trusts, Stephen M. Miller and Thomas M. Springer

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Integrity and Agreement: Economics When Principles Also Matter, Lanse Minkler

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Does the Federal Reserve Follow a Non-Linear Taylor Rule?, Kenneth Petersen

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Efficiency in Managing the Environment and the Opportunity Cost of Pollution Abatement, Subhash C. Ray and Kankana Mukherjee

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Efficiency Bounds for Estimating Linear Functionals of Nonparametric Regression Models with Endogenous Regressors, Thomas A. Severini and Gautam Tripathi

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Auctions with a Buy Price: The Case of Reference-Dependent Preferences, Nicholas Shunda

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Moment Based Inference with Stratified Data, Gautam Tripathi

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A General Schema for Optimal Monetary Policymaking: Objectives and Rules, Huiping Yuan and Stephen M. Miller

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Academic Rankings with RePEc, Christian Zimmermann

Submissions from 2006

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Monetary Policy, Exchange Rate Overshooting, and Endogenous Physical Capital, Habib Ahmed, C. Paul Hallwood, and Stephen M. Miller

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Collective Voluntary Agreements and the Production of Less Polluting Products, Rasha Ahmed and Segerson Kathleen

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Automatic Stabilizer Feature of Fixed Exchange Rate Regimes in Emerging Markets, Uluc Aysun

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Determinants and Effects of Maturity Mismatches in Emerging Markets: Evidence from Bank Level Data, Uluc Aysun

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Testing for Balance Sheet Effects in Emerging Market Countries, Uluc Aysun

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An Economic Theory of Mortgage Redemption Laws, Matthew J. Baker, Thomas J. Miceli, and C. F. Sirmans

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Efficiency in Deregulated Electricity Markets: Offer Cost Minimization vs. Payment Cost Minimization Auction, Rimvydas Baltaduonis

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Identifying Individual and Group Effects in the Presence of Sorting: A Neighborhood Effects Application, Patrick Bayer and Stephen L. Ross

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Tiebout Choice and the Voucher, Eric J. Brunner and Jennifer Imazeki

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Universal Vouchers and White Flight, Eric J. Brunner, Jennifer Imazeki, and Stephen L. Ross

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California's School Finance Reform: An Experiment in Fiscal Federalism, Eric J. Brunner and Jon Sonstelie

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The Walsh Contracts for Central Bankers Are Optimal After All!, Georgios E. Chortareas and Stephen M. Miller

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Human Capital and Interethnic Marriage Decisions, Delia Furtado

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Do Proctored Exams Matter In Online Classes?, Oskar R. Harmon and James Lambrinos

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Online Format vs. Live Mode of Instruction: Do Human Capital Differences or Differences in Returns to Human Capital Explain the Differences in Outcomes?, Oskar R. Harmon and James Lambrinos

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Interbank Markets under Currency Boards, Marius Jurgilas

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Is There Propitious Selection in Insurance Markets?, Tsvetanka Karagoyozova and Peter Siegelman

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Economic Reforms and Pro-Poor Growth: Lessons for Africa and other Developing Regions and Economies in Transition, Mwangi S. Kimenyi

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The Demand for Power Diffusion: A Case Study of the 2005 Constitutional Referendum Voting in Kenya, Mwangi S. Kimenyi

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Costly Revenue-Raising and the Case for Favoring Import-Competing Industries, Xenia Matschke

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Do Labor Market Imperfections Increase Trade Protection? A Theoretical Investigation, Xenia Matschke

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Criminal Solicitation, Entrapment, and the Enforcement of Law, Thomas J. Miceli

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On Negligence Rules and Self-Selection, Thomas J. Miceli

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Is the Compensation Model for Real Estate Brokers Obsolete?, Thomas J. Miceli, Katherine A. Pancak, and C. F. Sirmans

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A Bargaining Model of Holdouts and Takings, Thomas J. Miceli and Kathleen Segerson

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Property Condition Disclosure Law: Does 'Seller Tell All' Matter in Property Values?, Anupam Nanda

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Property Condition Disclosure Law: Why Did States Mandate 'Seller Tell All'?, Anupam Nanda

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Are Shirking and Leisure Substitutable? An Empirical Test of Efficiency Wages Based on Urban Economic Theory, Stephen L. Ross and Yves Zenou

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Corruption and Growth Under Weak Identification, Philip Shaw, Marina-Selini Katsaiti, and Marius Jurgilas

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The Making of Optimal and Consistent Policy: An Implementation Theory Framework for Monetary Policy, Huiping Yuan and Stephen M. Miller

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The Making of Optimal and Consistent Policy: An Analytical Framework for Monetary Models, Huiping Yuan, Stephen M. Miller, and Langnan Chen

Submissions from 2005

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Consumption asymmetry and the stock market: New evidence through a threshold adjustment model, Nicholas Apergis and Stephen M. Miller

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Inflation Targeting and Output Growth: Evidence from Aggregate European Data, Nicholas Apergis, Stephen M. Miller, Alexandros Panethimitakis, and Athanassios Vamvakidis

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Conversations between Anthropologists and Economists, Metin Cosgel

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The Socioeconomics of Consumption: Solutions to the Problems of Interest, Knowledge, and Identity, Metin Cosgel

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Last Hired, First Fired? Black-White Unemployment and the Business Cycle, Kenneth A. Couch and Robert Fairlie

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Labor-Use Efficiency in Indian Banking: A Branch Level Analysis, Abhiman Das, Subhash C. Ray, and Ashok Nag

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Endogenous Growth in the Presence of Informal Credit Markets: A Comparative Analysis Between Credit Rationing and Self-Revelation Regimes, Basab Dasgupta

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Liquidity Constraint and Child Labor In India: Is Market Really Incapable Of Eradicating It From Wage-Labor Households?, Basab Dasgupta

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Optimally Combining Censored and Uncensored Datasets, Paul J. Devereux and Gautam Tripathi

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Isotone Recursive Methods for Overlapping Generation Models with Stochastic Nonclassical Production, Jaime Erikson, Olivier F. Morand, and Kevin L. Reffett

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Does Exchange Rate Risk Affect Exports Asymmetrically? Asian Evidence, WenShwo Fang, YiHao Lai, and Stephen M. Miller

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Export Promotion through Exchange Rate Policy: Exchange Rate Depreciation or Stabilization?, WenShwo Fang, YiHao Lai, and Stephen M. Miller

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Determinants of Poverty in Kenya: A Household Level Analysis, Alemayehu Geda, Niek de Jong, Mwangi S. Kimenyi, and Germano Mwabu

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The Aggregate Demand for Private Health Insurance Coverage in the U.S., Carmelo Giaccotto, Rexford E. Santerre, and Francis W. Ahking

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A Generic Model of Financial Repression, Rangan Gupta

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Asymmetric Information, Tax Evasion and Alternative Instruments of Government Revenue, Rangan Gupta

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Financial Liberalization and Inflationary Dynamics, Rangan Gupta

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Financial Liberalization and Inflationary Dynamics: An Open Economy Analysis, Rangan Gupta

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Financial Liberalization and Inflationary Dynamics in the Context of a Small Open Economy, Rangan Gupta

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Policy Response of Endogenous Tax Evasion, Rangan Gupta

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A Simple Model of Credit Rationing with Information Externalities, Akm Rezaul Hossain

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An 'Ideal' Decomposition of Industry Dynamics: An Application to the Nationwide and State Level U.S. Banking Industry, Yongil Jeon and Stephen M. Miller

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Bank Performance: Market Power or Efficient Structure?, Yongil Jeon and Stephen M. Miller

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Has Deregulation Affected Births, Deaths, and Marriages in the U.S. Commercial Banking Industry?, Yongil Jeon and Stephen M. Miller

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Economic Rights, Human Development Effort and Institutions, Mwangi S. Kimenyi

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Efficiency and Efficacy of Kenya's Constituency Development Fund: Theory and Evidence, Mwangi S. Kimenyi

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Policy Advice during a Crisis, Mwangi S. Kimenyi and Germano Mwabu

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Finite Characterizations and Paretian Preferences, Vicki Knoblauch

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The Economics of Open Bibliographic Data Provision, Thomas Krichel and Christian Zimmermann

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The Secret Life of Mundane Transaction Costs, Richard N. Langlois

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The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm, Richard N. Langlois

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Criminal Solicitation, Entrapment, and the Enforcement of Law, Thomas J. Miceli

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Minimum Quality Standards in Baseball and the Paradoxical Disappearance of the .400 Hitter, Thomas J. Miceli

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An Economic Model of Fair Use, Thomas J. Miceli and Richard P. Adelstein

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Equity Markets, the Money Market, and Long-Run Monetary Neutrality, Stephen M. Miller

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Economies of Scale and Cost Efficiencies: A Panel-Data Stochastic-Frontier Analysis of Real Estate Investment Trusts, Stephen M. Miller, Terrence M. Clauretie, and Thomas M. Springer

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Consistent Targets and Optimal Monetary Policy: A Note, Stephen M. Miller and Huiping Yuan

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Stationary Markovian Equilibrium in Overlapping Generation Models with Stochastic Nonclassical Production, Olivier F. Morand and Kevin L. Reffett

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Measuring Potential Output and Output Gap and Macroeconomic Policy: The Case of Kenya, Angelica E. Njuguna, Stephen N. Karingi, and Mwangi S. Kimenyi

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Input Aggregation in Models of Data Envelopment Analysis: A Statistical Test with an Application to Indian Manufacturing, Subhash C. Ray

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Shadow Profit Maximization and a Generalized Measure of Inefficiency, Subhash C. Ray

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Direct and Indirect Measures of Capacity Utilization: A Nonparametric Analysis of U.S. Manufacturing, Subhash C. Ray, Kankana Mukherjee, and Yanna Wu

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The Continuing Practice and Impact of Discrimination, Stephen L. Ross

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Fair Housing Enforcement and Changes in Discrimination between 1989 and 2000: An Exploratory Study, Stephen L. Ross and George C. Galster

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Mortgage Lending in Chicago and Los Angeles: A Paired Testing Study of the Pre-Application Process, Stephen L. Ross, Margery Austin Turner, Erin Godfrey, and Robin R. Smith

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Some Identification Issues in Nonparametric Linear Models with Endogenous Regressors, Thomas A. Severini and Gautam Tripathi

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A Model of Rights, Nicholas Shunda

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Strategic Behavior in Day-Ahead and Real-Time Markets for Electricity: Offer Cost or Payment Cost Minimization?, Nicholas Shunda

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Technological Characteristics and R&D Alliance Form: Evidence from the U.S. Biotechnology Industry, Xia Wang

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Technical Efficiency and Stock Market Reaction to Horizontal Mergers, Yanna Wu and Subhash C. Ray

Submissions from 2004

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Non-Parametric Tests of Real Exchange rates in the Post-Bretton Woods Era, Francis W. Ahking

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The Power of the "Objective" Bayesian Unit-Root Test, Francis W. Ahking

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Consumption Asymmetry and the Stock Market: Empirical Evidence, Nicholas Apergis and Stephen M. Miller

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Consumption Asymmetry and the Stock Market: Further Evidence, Nicholas Apergis and Stephen M. Miller

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An Economic Theory of Mortgage Redemption Laws, Matthew J. Baker, Thomas J. Miceli, and C. F. Sirmans

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Place of Work and Place of Residence: Informal Hiring Networks and Labor Market Outcomes, Patrick Bayer, Stephen L. Ross, and Giorgio Topa

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Income Inequality in the 1990s: Re-Forging a Lost Relationship?, Richard V. Burkhauser, Kenneth A. Couch, Andrew Houtenville, and Ludmila Rovba

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Agricultural Productivity in the Early Ottoman Empire, Metin M. Cosgel

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Efficiency and Continuity in Public Finance: The Ottoman System of Taxation, Metin M. Cosgel

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Taxes, Efficiency, and Redistribution: Discriminatory Taxation of Villages in Ottoman Palestine, Southern Syria and Transjordan in the Sixteenth Century, metin M. Cosgel