template-type: ReDIF-Paper 1.0
title: Pathological Outcomes of Observational Learning.
author-name: Smith, L.
author-name: Sorensen, P.
keywords: LEARNING;EDUCATION;INFORMATION;MODELS
length: 46 pages
abstract: This paper systematically analyzes and enriches the observational learning paradigm of Banerjee (1992) and Bikhchandani, Hirshleifer, and Welch (1992).
classification-jel: C50 D80 D82 I20 I21
creation-date: 1996
handle: RePEc:nuf:econwp:115

template-type: ReDIF-Paper 1.0
title: Inequality, Market Structure, and Growth: A Neo-Schumpeterian Perspective.
author-name: Li, C.W.
keywords: ECONOMIC GROWTH;SOCIAL JUSTICE;ECONOMIC DEVELOPMENT;RESEARCH AND DEVELOPMENT;TECHNOLOGY
length: 24 pages
abstract: This paper aims to examine the relationships between inequality and growth, emphasising the role of a product market, its market structure and technological innovation.
classification-jel: L10 O15 O30 O41
creation-date: 1996
handle: RePEc:nuf:econwp:112

template-type: ReDIF-Paper 1.0
title: Nonparametric Inference by Quasi-Likelihood Methods.
author-name: Spady, R.H.
keywords: ECONOMETRICS;EVALUATION;MATHEMATICS
length: 26 pages
abstract: Two techniques for nonparametric inference concerning statistical functionals are examined as quasi-likelihood methods.
classification-jel: C10 C13 C14
creation-date: 1996
handle: RePEc:nuf:econwp:111

template-type: ReDIF-Paper 1.0
title: Bringing Income Distribution in from the Cold.
author-name: Atkinson, A-B
keywords: INCOME DISTRIBUTION
length: 36 pages
abstract: The title of this Presidential Address is chosen to highlight the way in which the subject of income distribution has in the past been marginalised. For much of this century, it has been very much out in the cold. There are signs that in the 1990s it is being welcomed back, and I shall be referring to recent research, but I would like to use this occasion to give further impetus to the re-incorporation of income distribution into the main body of economic analysis.
classification-jel: D33
creation-date: 1996
handle: RePEc:nuf:econwp:117

template-type: ReDIF-Paper 1.0
title: Skewness of Earnings and the Believability Hypothesis : How Does the Financial Market Discount Accounting Earnings Disclosures?
author-name: Krishnan, M
author-name: Sankaraguruswamy, S
author-name: Song Shin, H
keywords: FINANCIAL MARKET ; ECONOMIC MODELS
length: 25 pages
abstract: When firms attempt to manage their earnings disclosures by presenting evidence selectively, sophisticated inference on the part of financial market participants entails a positive association between the market to bood ratio of a firm and the skewness of the distribution of its announced earnings. In this paper, we put this hypothesis to the test, and confirm its main predictions.
classification-jel: C52 E44
creation-date: 1996
handle: RePEc:nuf:econwp:120

template-type: ReDIF-Paper 1.0
title: Adversarial and Inquisitorial Procedures in Arbitration.
author-name: Song Shin, H
keywords: ARBITRATION
length: 21 pages
abstract: Should arbitrators adjudicate on the basis of their own investigations, or invite the interested parties to make their cases and decide on the basis of the information so gathered?
classification-jel: J52
creation-date: 1996
handle: RePEc:nuf:econwp:124

template-type: ReDIF-Paper 1.0
title: Booms and Busts in the UK Housing Market.
author-name: Muellbauer, J
author-name: Murphy, A
keywords: HOUSING ; ECONOMETRIC MODELS
length: 28 pages
abstract: The often volatile behaviour of UK house prices between 1957 and 1994 is analysed in an annual econometric model. Theory suggests that financial liberalization of mortgage markets in the 1980s should have led to notable shifts in house price behaviour.
classification-jel: C51 R21
creation-date: 1996
handle: RePEc:nuf:econwp:125

template-type: ReDIF-Paper 1.0
title: Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks.
author-name: Morris, S
author-name: Song Shin, H
keywords: EXCHANGE RATE ; INFORMATION
length: 24 pages
abstract: Even though self-fulfilling currency attacks lead to multiple equilibria when fundamentals are common knowledge, we demonstrate the uniqueness of equilibrium when speculators face a small amount of noise in their signals about the fundamentals. This unique equilibrium depends not only on the money in criculation and the costs of speculative trading. In contrast to multiple equilibrium models, our model allows analysis of policy proposals directed at curtailing currency attacks.
classification-jel: F31 D82
creation-date: 1996
handle: RePEc:nuf:econwp:126

template-type: ReDIF-Paper 1.0
title: The Monotonicity of Individual and Market Demand.
author-name: Quah, J-K-H
keywords: DEMAND ; INCOME DISTRIBUTION
length: 25 pages
abstract: This paper studies the interplay between two types of conditions guaranteeing the monotonicity of market demand : conditions on individual preferences and conditiosn on the distribution of income.
classification-jel: D33 E1
creation-date: 1996
handle: RePEc:nuf:econwp:127

template-type: ReDIF-Paper 1.0
title: An Option-Based Model of Equilibrium Credit Rationing.
author-name: Mason, R
keywords: CREDIT ; ECONOMIC EQUILIBRIUM ; DEBT ; INFORMATION
length: 14 pages
abstract: This paper applies options theory to the model of equilibrium credit rationing developed by Stiglitz and Weiss (1981) by noticing that, given a standard debt contract and limited liability, the payoffs to the lender and the borrower when a loan is make involve a put option and a call option respectively. Information asymmetry is modelled using stochastic volatility option pricing methods.
classification-jel: D82 E51
creation-date: 1996
handle: RePEc:nuf:econwp:128