Credit Rating Agencies and Speedy Payday Loans INTERNATIONAL RESOURCE ALLOCATION: Trade with Incomplete Information 4 INTERNATIONAL RESOURCE ALLOCATION: Trade with Incomplete Information 3 INTERNATIONAL RESOURCE ALLOCATION: Trade with Incomplete Information 2
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Archive for August, 2014

THE IMMIGRANTS: Summary Statistics 3

Changes in immigrants1 labor market skills have received a great deal of attention(Borjas 1990). The direct measure of skills that is most readily available is educational attainment. Tables la and...

THE IMMIGRANTS: Summary Statistics 2

THE IMMIGRANTS: Summary Statistics 2

The data used in this paper are from the I960, 1970, 1980 and 1990 Public Use Microdata Samples of the United States censuses. The 1960 data are a 1 percent sample of the population. The 1970 data...

THE IMMIGRANTS: Summary Statistics

Using an adaptation of the Roy Model, he argues that the correlation of country of-birth effects with various characteristics of the source countries is consistent with the view that the “quality...

THE IMMIGRANTS: Introduction 2

This ”counterfactual” exercise further allows us to pinpoint w’hich of the recent immigrants1 characteristics has the greatest impact on changes in the wage distribution between...

THE IMMIGRANTS: Introduction

During the 1980s approximately 8 million legal immigrants came to the United States. This is higher than during any decade since the early 1900s.1 While the characteristics of immigrants have...

THE BOND MARKETS: CONCLUDING COMMENTS 3

THE BOND MARKETS: CONCLUDING COMMENTS 3

Appendix В. Deriving Moments from the Characteristic Function ...

THE BOND MARKETS: CONCLUDING COMMENTS 2

THE BOND MARKETS: CONCLUDING COMMENTS 2

It is worthwhile suggesting further avenues of research, which would benefit from the framework of this paper. First, the issue of what information releases cause jumps is an open question. Locating...

THE BOND MARKETS: CONCLUDING COMMENTS

The objective of this paper is twofold. One, we develop technical methods for jump-diffusion term structure models. Two, we examine whether it. is worthwhile to enhance existing diffusion models with...

THE BOND MARKETS: Estimation 6

We now use the moments to understand the differences between the diffusion-based class of models and the jump-diffusion class. We first note that for any n-factor pure diffusion model, as the time...

THE BOND MARKETS: Estimation 5

THE BOND MARKETS: Estimation 5

We minimize the usual objective function (denoted H). In contrast to Chan. Karolyi, Longstaff and Sanders, we use the exact continuous time moments rather than moments from a discretization of the...

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