Contributed Papers, WEDNESDAY, AUGUST 23, 2:00 - 3:30 p.m.

Cooperative Games 1 (Session 23B-21)

Chair: Sang-Seung Yi (Dartmouth College)

Manipulation and Stability in a College Admissions Problem
Jinpeng MA (Rutgers University)

Von Neumann and Morgenstern Stable Sets in a Merger Game
Maria Paz ESPINOSA (Universidad del Pais Vasco)
Elena Inarra

Economics of Families (Session 23B-22)

Chair: Raghav Gaiha (University of Delhi)

Gender Differences in Education in a Two-Sex Overlapping Generations Bargaining Model
Antonio MERLO (University of Minnesota)
Christina Echevarria

A Theory of Intergenerational Transfers and Savings
C. Simon FAN (Lingnan College)

Selected Sons and Dejected Daughters: The Impact of Sex-Choice Technologies on the Status and Well-Being of Women
Lena EDLUND (Stockholm School of Economics)

Hierarchies and Incentives (Session 23B-23)

Chair: Robert Gibbons (Cornell University)

Collusion in Hierarchies: The Case of Beneficial Corruption
Trond E. OLSEN (University of Bergen)
Gaute Torsvik

A Three-Tier Hierarchy and Optimal Organization under Potential Collusion: The Case of Productive Supervisors
Mikko LEPPAMAKI (London School of Economics)

Optimal Supervision in Hierarchies
Hideo SUEHIRO (Kobe University)
Nahum Melumad

Dynamic Choice (Session 23B-25)

Chair: Jean Tirole (Universite des Sciences Sociales de Toulouse)

On the Interpretation of Decision Problems with Imperfect Recall
Michele PICCIONE (University of British Columbia)
Ariel Rubinstein

Towards a Theory of Self-Restraint
Bernard CAILLAUD (CERAS-ENPC)
Daniel Cohen
Bruno Jullien

Contractibility of Forward-Looking Choice
Ludwig D.W. VON AUER (University of Kiel)

Growth 1 (Session 23B-31)

Chair: Edwin Lai (Boston University)

How Does Foreign Direct Investment Affect Economic Growth?
Jong-wha LEE (Korea University and NBER)
Eduardo Borensztein
Jose de Gregorio

Development Stages, Factor Endowment and Industrial Linkages: Experiences of Asian NICs
Choong Yong AHN (Chung-Ang University)

Monetary Economics 1 (Session 23B-32)

Chair: Eduard Engel (University of Chile)

Currency Exchange in a Random Search Model
Ruilin ZHOU (University of Pennsylvania)

Welfare of Alternative Equilibrium Paths in the Kiyotaki-Wright Model
Juan M. RENERO (Instituto Tecnologico de Mexico)

Federal Reserve Interest Rate Targeting, Rational Expectations and the Term Structure
Glenn RUDEBUSCH (Federal Reserve Bank of San Francisco)

Financial Market Theory 2 (Session 23B-33)

Chair: Elyes Jouini (ENSAE)

Price Formation and Order Placement Strategies in a Dynamic Order Driven Market
Thierry FOUCAULT (Universitat Pompeu Fabra)

Pricing and Hedging Asian Options: A PDE Approach
Jean-Paul DECAMPS (Universite de Toulouse 1)
Pierre Francois Koehl

A General Theory of Arbitrage Pricing: When the Idiosyncratic Risks are Dependent and Their Second Moments do not Exist
Taychang WANG (National Taiwan University)
Chi-Wen Jevons Lee

Technology Transfer and Adoption (Session 23B-35)

Chair: Lawrence Ausubel (University of Maryland)

Adoptions and Orphans in the Early Microcomputer Market
David SALANT (Charles River Associates)
Neil Gandal
Shane Greenstein

Adoption of New Technology, Real Options, and Search: Revenue Uncertainty
Otto TOIVANEU (University of Warwick)
Paul Diederen
Paul Stoneman

International Patenting and Technology Diffusion
Jonathan EATON (Boston University)
Samuel Kortum

Unit Root Testing 1 (Session 23B-36)

Chair: James H. Stock (Harvard University, USA)

On the Asymptotic Validity of Bootstrapping the Unit Root Hypothesis in AR (1) Models with Unknown Mean
Noud P.A. VAN GIERSBERGEN (University of Amsterdam, The Netherlands)

Bayesian Analysis of Unit Root and Cointegration with an Application to a Yen-Dollar Exchange Rate Model
Hajime WAGO (Niigata University, Japan)
Hiroki Tsurumi

Consumer Demand 1 (Session 23B-41)

Chair: John van Reenen (The Institute for Fiscal Studies, UK)

Testing Homogeneity in the Linearized Almost Ideal Demand System
A. BUSE (University of Alberta, Canada)

When do Estimated Demand Systems Automatically Satisfy Adding Up?
David EDGERTON (Lund University, Sweden)

Estimation of a Random Utility Model from Data on Consumer Demand
Rosa L. MATZKIN (Northwestern University, USA)
Donald J. Brown

Wage Determination 2 (Session 23B-42)

Chair: Patrizia Ordine (Universita della Calabria, Italy)

Wage Determination in Italy: A Microeconomic Analysis
Andrea GAVOSTO (Bank of Italy)
Paola Casavola
Paolo Sestito

How Sharp is the Sword of Justice?
Amanda GOSLING (The Institute for Fiscal Studies, UK)

Wage Formation under Union Threat Effects: Theory and Empirical Evidence
Claudio LUCIFORA (Universita Cattolica del Sacro Cuore, Italy)
Giacomo Corneo

GMM Estimation (Session 23B-43)

Chair: Andrew Chesher (University of Bristol, UK)

A Generalized Moments Estimator for the Autoregressive Parameter in a Spatial Model
Harry H. KELEJIAN (University of Maryland)
Ingmar R. Prucha

Generalized Method of Moments (GMM) with Some Nonstationary Variables
Jae-Young KIM (State University of New York - Albany)

An Information-Theoretic Alternative to Generalized Method of Moments Estimation
Yuichi KITAMURA (University of Minnesota)
Michael Stutzer

Trade and Political Economy 1 (Session 23B-45)

Chair: Will Martin (World Bank, USA)

Predation and Dumping by Foreign Firms in the U.S.: An Econometric Analysis
Wendy L. HANSEN (University of New Mexico)
F. Gasmi
J.J. Laffont

Cooperation and Conflict among Democracies: Why do Democracies Cooperate more and Fight Less?
Soloman W. POLACHEK (State University of New York at Binghampton)

Social Protection and Political Competition
Tanguy VAN YPERSELE (CREST-LEI, France)
J. Gabszewicz

Microeconometrics: Development and Demography 1 (Session 23B-46)

Chair: Pan A. Yotopoulos (Stanford University, USA)

Nutritional Status and the Allocation of Time in Rwandese Households
Alok BHARGAVA (University of Houston)

Learning and Doing and Learning from Others: Human Capital and Technical Change in Agriculture
Andrew D. FOSTER (University of Pennsylvania)
Mark R. Rosenzweig

How does Schooling of Mothers Improve Child Health: Evidence from Morocco
Paul GLEWWE (The World Bank, USA)

Higher-Order Asymptotics (Session 23B-53)

Chair: James Davidson (University of Wales, Aberystwyth, UK)

Saddlepoint Approximations and Non-Central Quadratic Forms
Patrick MARSH (Southampton University, UK)

Higher-Order Asymptotic Expansions of the Least-Squares Estimation Bias in First-Order Dynamic Regression Models
Garry PHILLIPS (University of Exeter, UK)
Jan F. Kiviet

The Second Order Bias and Mean Squared Error of Nonlinear Estimators
Paul RILSTONE (Universite Laval, Canada)
V.K. Srivastava
Aman Ullah

Cointegration and Dynamic Modeling 1 (Session 23B-54)

Chair: Eilev S. Jansen (Norges Bank, Norway)

Bayesian Panel Data Techniques Applied t o OECD Health Care Expenditure
R.A.L. CARTER (University of Western Ontario, Canada)

A Nonlinear Model for the Investment Function in Spain
Antoni ESPASA (Universidad Carlos III de Madrid, Spain)
Eva Senra

The Unit Root Analysis of the Causality between the Japanese Money and Income
Kimio MORIMUNE (Kyoto University, Japan)
Guo Qing Zhao

Structural Change 1 (Session 23B-55)

Chair: Timo Terasvirta (Stockholm School of Economics, Sweden)

Nonparametric Estimation of Structural Break Points
Miguel DELGADO (Universidad Carlos III de Madrid, Spain)
Javier Hidalgo

Analysis of Structural Change in Linear Time Series
See-Hyeon PARK (State University of New York at Albany, USA)
Jae-Young Kim

Testing for a Shift in Mean without Having to Estimate Serial Correlation Parameters
Timothy VOGELSANG (Cornell University, USA)

Program World Conference Econometric Society Tokyo, August 1995