Contributed Papers, FRIDAY, AUGUST 25, 2:00 - 3:30 p.m.

Experiments with Markets (Session 25b-21)

Chair: Mamoru Kaneko (University of Tsukuba, Japan)

Winner's Curse in Common Value Markets
Jan POTTERS Jorgen WIT (Tilburg University,The Netherlands)
Jorgen Wit

Experimental Foreign Exchange Markets
Eric O'N FISHER (The Ohio State University, USA)
Frank S. Kelly

Price Formation in Single Call Markets
Timothy N. CASON (University of Southern California, USA)
Daniel Friedman

Interacting Economic Agents (Session 25b-22)

Chair: Alvaro Sandroni (University of Pennsylvania, USA)

Economies with Interacting Agents
Alan P. KIRMAN (European University Institute, Italy)

Learning from Neighbors
Venkatesh BALA (McGill University, Canada)
Sanjeev Goyal

Stochastic Interactive Dynamics of Agents with a Discrete Choice Set
Masanao AOKI (University of California, Los Angeles, USA)

Opportunism, Contracts and Signals (Session 25b-23)

Chair: Jacques Cremer (Universite des Sciences Sociales de Toulouse, France)

Renegotiation and the Efficiency of Investments
Steinar HOLDEN (University of Oslo, Norway)

Incomplete Contracts and Cooperative Investments
Yeon-Koo CHE (University of Wisconsin-Madison, USA)
Tai-Yeong Chung

Equilibrium in Markets when Agents can Vary in Ethical Character
Kenneth KOFFORD (University of Delaware, USA)
Mark Penno

Allocation 2 (Session 25b-25)

Salvador Barbera (Universitat Autonoma de Barcelona, Spain)

Environmental Disasters, Endogenous Income Transfers and Public Insurance Programs
David NICKERSON(American University, USA)
Lanny S. Arvan

Two Versions of the Tragedy of the Commons
Alison WATTS (Vanderbilt University, USA)
Herve Moulin

General Equilibrium 5: Existence (Session 25b-26)

Chair: Karl Vind (University of Copenhagen, Denmark)

General Equilibrium in Asset Markets with or without Short-Selling
F. MAGNIEN (INSEE, France)
R.A. Dana
C. Le Van

A Unified Perspective on Resource Allocation: Limited Arbitrage is Necessary and Sufficient for the Existence of a Competitive Equilibrium, the Core and Social Choice
Graciela CHICHILNISKY (Columbia University, USA)

Growth 3: Trade (Session 25b-31)

Chair: Joshua Gans (University of New South Wales)

Growth and Trade: The North can Lose
Antonio SPILIMBERGO (Inter-American Development Bank, USA)

Trade Dynamics and Endogenous Growth -- An Overlapping Generations Analysis
Andrew MOUNTFORD (Tilburg University, The Netherlands)

A Two-Country Model of Trade of Intermediate Goods and Growth
Byung-Ho SONG (Virginia Polytechnic Institute and State University, USA)

acroeconomics 1: Dynamic Control (Session 25b-32)

Chair: Mario G.P. Garcia(Pontificia Universidade Catolica de Rio de Janiero)

Monetary Policy and Structural Change: Controlling the Policy Target When Structural Parameters are Unknown
Volker WIELAND (Stanford University, USA)

Infrequent Information, Kinked Adjustment Costs and Aggregate Effects
Marco BONOMO (Pontificia Universidade, Rio de Janeiro)
Rene Garcia

Flexible Accelerator and Incomplete Information: A Variable-Structure Systems (VSS) Approach
S.H. HSU (National Taiwan University)
C.C. Chang

Labor Markets 2: Unions (Session 25b-33)

Chair: Yoram Weiss (Tel Aviv University, Israel)

Implicit Contracts, Optimal Union Power and Takeovers
Gilles CHEMLA (London School of Economics, UK)

Remuneration Systems, Capital Formation, and the NAIRU
Jochen MICHAELIS (London School of Economics, UK)
Jurgen Jerger

Wages and Employments in a Repeated Game with Revenue Fluctuations
Christian SCHULTZ (University of Copenhagen, Denmark)

Spatial Competition (Session 25b-35)

Chair: Fernand Vega-Redondo (Universidad de Alicante, Spain)

Exact Solutions of Location Games
Jacob GOEREE (University of Amsterdam, The Netherlands)
Ronald Ramer

Equilibrium in Hotelling's Model of Location
Kali P. RATH (University of Notre Dame, USA)

Pricing Policy and Free Entry in Spatial Competition
Takatoshi TABUCHI (Kyoto University, Japan)

Nonlinear Time Series (Session 25b-36)

Chair: Franz C. Palm (University of Limburg-Maastricht, The Netherland)

ARCH and Bilinearity as Competing Models for Nonlinear Dependence
Anil K. BERA (University of Illinois, USA)
Matthew L. Higgins

Non-Linear Stochastic Trends
Tomoo INOUE (University of California, San Diego, USA)
Clive W.J. Granger
Norman Morin

Universal Approximation, LM Tests and Nonlinear Error Correction in Economic Time Series
Norman R. SWANSON (The Pennsylvania State University, USA)
Clive W.J. Granger

Count Data Econometrics 2 (Session 25b-41)

Chair: Colin Cameron (Australian National University, Australia)

Explanatory Variables in the AR(1) Poisson Model
Kurt BRANNAS (University of Umea, Sweden)

Grouped Poisson Regression Models: Theory and an Application to Public House Visit Frequency
Peter G. MOFFATT (University of East Anglia, UK)

Individual Effects & Dynamics in Count Data Models
Frank WINDMEIJER (University College London)
Richard Blundell
Rachel Griffith

Transition Models (Session 25b-42)

Chair: Jan C. van Ours (Free University Amsterdam, The Netherlands)

Competing Risk Hazard Models for Demographic Transitions
David BROWNSTONE (University of California, USA)
Camilla Kazimi

Savings, Layoff Risk and Labour Market Transitions
Thierry MAGNAC(INRA, France)
Richard Blundell
Costas Meghir

Climbing up Career Steps: Becoming a Professor in Economics
Ali C. TASIRAN (Gothenburg University, Sweden)
Bo Sandelin
Ann Veiderpass

Production Functions (Session 25b-43)

Chair: Paul W. Wilson (University of Texas, USA)

Infrastructure and Productivity: A NonLinear Approach
Vijaya G. DUGGAL (Widener University, USA)
Cynthia Saltzman
Lawrence R. Klein

Non-Parametric Estimation of Returns to Scale: Applications to Natural Resource Economics
Kevin J. FOX (University of New South Wales, Australia)
R. Quentin Grafton

Production Function with Cyclical Depreciation: A Non-Linear Estimation for Nine OECD Countries
Jean Marc GERMAIN (Direction de la Prevision-Ministere de l'Economie)
Roland Lescure

Structural Change 2 (Session 25b-45)

Chair: A. Ronald Gallant (University of N. Carolina, USA)

Detecting Regime Shifts by Kernel Density Estimation
Marco BIANCHI (Bank of England, UK)

Monitoring Structural Change
Chia-Shang James CHU (University of Southern California, USA)
Maxwell Stinchcombe
Halbert White

Testing for Structural Breaks in Exchange Rate Series
Pedro L. Valls PEREIRA (Universidade de Sao Paulo, Brazil)
Luiz K. Hotta

Development and Financial Markets (Session 25b-46)

Chair: Robert M. Townsend (University of Chicago, USA)

The Impact of Financial Intermediation on Dynamic Savings Decisions in Agriculture
Jere R. BEHRMAN (University of Pennsylvania, USA)
Andrew Foster
Mark R. Rosenzweig

"Financial Repression", Financial Deepening and Economic Growth: Evidence from India
Panicos DEMETRIADES (University of Cyprus)
Kul Luintel

Informal Insurance Arrangements in Village Economies
Tim WORRALL (University of Liverpool, UK)
Jonathan P. Thomas

Simulation Methods 2 (Session 25b-53)

Chair: Jean-Francois Richard (University of Pittsburgh, USA)

A Sorting Method for Variance Reduction in Microsimulation Models
J.M. BEKKERING (Netherlands Scientific Council - Government Policy)

SML Estimation in Transition Models
Thierry KAMIONKA (Universite des Sciences Sociales, France)

Simulation Estimation of Dynamic Switching Regression and Dynamic Disequilibrium Models - some Monte Carlo Results
Lung-fei LEE (The Hong Kong University of Science & Technology)

Inflation and Unemployment (Session 25b-54)

Chair: Neil R. Ericsson (Federal Reserve Board, USA)

Long Run Determinants and Short Term Dynamics of Nominal Wages in Brazil
Francisco CARNEIRO (University of Kent at Canterbury, UK)
Andrew Henley

A New View of the NAIRU
Robert EISNER (Northwestern University, USA)

Inflation Dynamics in a New Keynesian Model
Jonathan IRELAND (University of Strathclyde, UK)
Simon Wren-Lewis

Limited Dependent Variable Models (Session 25b-55)

Chair: Paul A. Ruud (University of California Berkeley)

A Simple Root-N Consistent, Heteroskedasticity Robust, and Distribution Free Estimator for some Limited Dependent Variable Models
Chunrong AI (University of Florida, USA)

A Tobit Model with GARCH Errors
Gabriele FIORENTINI (CEMFI, Spain)
Giorgio Calzolari

An Inverse Hyperbolic Sine Double-Hurdle Model with Dependent Errors
Steven T. YEN (Iowa State University, USA)
Andrew Jones

Program World Conference Econometric Society Tokyo, August 1995