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 2009

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Is the Median Voter Decisive? Evidence of 'Ends Against the Middle' From Referenda Voting Patterns, Eric J. Brunner and Stephen L. Ross

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Guns and Books: Legitimacy, Revolt and Technological Change in the Ottoman Empire, Metin M. Cosgel, Thomas J. Miceli, and Jared Rubin

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International Transfer Pricing for Goods and Intangible Asset Licenses in a Decentralized Multinational Corporation: Review and Extensions, Peter C. Dawson and Stephen M. Miller

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Solving the Non-Linear Dynamic Asset Allocation Problem: Effects of Arbitrary Stochastic Processes and Unsystematic Risk on the Super Efficient Portfolio Space, Kwamie Dunbar

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The Effects of Credit Risk on Dynamic Portfolio Management: A New Computational Approach, Kwamie Dunbar

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"Ripple Effects" and Forecasting Home Prices in Los Angeles, Las Vegas, and Phoenix, Rangan Gupta and Stephen M. Miller

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The Time-Series Properties on Housing Prices: A Case Study of the Southern California Market, Rangan Gupta and Stephen M. Miller

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A New Economic Analysis of the American Revolution, Paul Hallwood and Ambyre Ponivas

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Bank Capital Requirements and Capital Structure, John P. Harding, Xiaozhong Liang, and Stephen L. Ross

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Deterrence and Incapacitation: Towards a Unified Theory of Criminal Punishment, Thomas J. Miceli

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Free Riders, Holdouts, and Public Use: A Tale of Two Externalities, Thomas J. Miceli

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Lease Defaults and the Efficient Mitigation of Damages, Thomas J. Miceli, C. F. Sirmans, and Geoffrey K. Turnbull

Submissions from 2008

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Do Structural Oil-Market Shocks Affect Stock Prices?, Nicholas Apergis and Stephen M. Miller

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Increasing Derivatives Market Activity in Emerging Markets and Exchange Rate Exposure, Uluc Aysun and Melanie Guldi

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Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops, Uluc Aysun and Adam Honig

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The Effect of Classmate Characteristics on Individual Outcomes: Evidence from the Add Health, Robert Bifulco, Jason Fletcher, and Stephen L. Ross

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Preference Structure and Random Paths to Stability in Matching Markets, James W. Boudreau

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Sequential Pre-Marital Investment Games: Implications for Unemployment, James W. Boudreau

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Stratification and Growth in Agent-based Matching Markets, James W. Boudreau

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Marriage Matching and Intercorrelation of Preferences, James W. Boudreau and Vicki Knoblauch

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Voting in Kenya: Putting Ethnicity in Perspective, Michael Bratton and Mwangi S. Kimenyi

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Economics and Ideology: Causal Evidence of the Impact of Economic Conditions on Support for Redistribution and Other Ballot Proposals, Eric Brunner, Stephen L. Ross, and Ebonya Washington

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Is the Great Moderation Ending? UK and US Evidence, Giorgio Canarella, WenShwo Fang, Stephen M. Miller, and Stephen K. Pollard

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Dynamic Stock Market Interactions between the Canadian, Mexican, and the United States Markets: The NAFTA Experience, Giorgio Canarella, Stephen M. Miller, and Stephen K. Pollard

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Church and State, Metin Cosgel and Thomas Miceli

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The Race to the Suburb: The Location of the Poor in a Metropolitan Area, Charles A. M. de Bartolome and Stephen L. Ross

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The Impact of the FOMC's Monetary Policy Actions on the growth of Credit Risk: the Monetary Policy - Liquidity Paradox, Kwamie Dunbar

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Modeling the Volatility of Real GDP Growth: The Case of Japan Revisited, WenShwo Fang and Stephen M. Miller

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The Great Moderation Flattens Fat Tails: Disappearing Leptokurtosis, WenShwo Fang, Stephen M. Miller, and ChunShen Lee

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Environmental Policy in Majoritarian Systems, Per G. Fredriksson, Xenia Matschke, and Jenny Minier

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For Sale: Trade Policy in Majoritarian Systems, Per G. Fredriksson, Xenia Matschke, and Jenny Minier

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Measuring the Progressive Realization of Human Rights Obligations: An Index of Economic and Social Rights Fulfillment, Sakiko Fukuda-Parr, Terra Lawson-Remer, and Susan Randolph

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Minimizing the Price of Tranquility: How to Discourage Scotland's Secession from the United Kingdom, Paul Hallwood

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A Review of the Empirical Evidence on the Effects of Fiscal Decentralization on Economic Efficiency: With Comments on Tax Devolution to Scotland, Paul Hallwood and Ronald MacDonald

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International Money and Finance, Paul Hallwood and Ronald MacDonald

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Is the Cheating Risk Always Higher in Online Instruction Compared to Face-to-Face Instruction?, Oskar Harmon, James Lambrinos, and Judy Buffolino

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Identity, Grievances, and Economic Determinants of Voting in the 2007 Kenyan Elections, Mwangi S. Kimenyi and Roxana Gutierrez Romero

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Tribalism as a Minimax-Regret Strategy: Evidence from Voting in the 2007 Kenyan Elections, Mwangi S. Kimenyi and Roxana Gutierrez Romero

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The Political Economy of Constitutional Choice: A Study of the 2005 Kenyan Constitutional Referendum, Mwangi S. Kimenyi and William F. Shughart

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Recognizing a Single-Issue Spatial Election, Vicki Knoblauch

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Three-agent Peer Evaluation, Vicki Knoblauch

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Optimal Test for Parameter Instability When the Unstable Process and the Error Distribution are Unknown, Dong Jin Lee

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Antidumping as Strategic Trade Policy Under Asymmetric Information, Xenia Matschke and Anja Schottner

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An Equilibrium Model of Lawmaking, Thomas J. Miceli

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A Note on the Social versus Private Value of Suits when Care is Bilateral, Thomas J. Miceli

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Deterrence, Incapacitation, and Repeat Offenders, Thomas J. Miceli

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Legal Change and the Social Value of Lawsuits, Thomas J. Miceli

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The Social versus Private Incentive to Sue, Thomas J. Miceli

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A Question of Title: Property Rights and Asset Values, Thomas J. Miceli, Henry J. Munneke, C. F. Sirmans, and Geoffrey K. Turnbull

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The Impact of Property Condition Disclosure Laws on Housing Prices: Evidence from an Event Study using Propensity Scores, Anupam Nanda and Stephen L. Ross

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Heterodox Economics and Dissemination of Research through the Internet: the Experience of RePEc and NEP, Marco Novarese and Christian Zimmermann

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Measuring Unemployment Insurance Generosity, Stephane Pallage, Lyle Scruggs, and Christian Zimmermann

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Unemployment Insurance Generosity: A Trans-Atlantic Comparison, Stephane Pallage, Lyle Scruggs, and Christian Zimmermann

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Predicting the Fed, Kenneth B. Petersen and Vladimir Pozdnyakov

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Are Indian Firms too Small? A Nonparametric Analysis of Cost Efficiency and Industry Structure of Indian Manufacturing, Subhash C. Ray

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Comparing Input- and Output-Oriented Measures of Technical Efficiency to Determine Local Returns to Scale in DEA Models, Subhash C. Ray

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Input Price Variation Across Locations and a Generalized Measure of Cost Efficiency, Subhash C. Ray, Lei Chen, and Kankana Mukherjee

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Innovation Processes and Industrial Districts, Paul L. Robertson, David Jacobson, and Richard N. Langlois

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Understanding Racial Segregation: What is known about the Effect of Housing Discrimination, Stephen L. Ross

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Low-Wage Labor Markets and the Power of Suggestion, Natalya Y. Shelkova

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GMM Based Inference with Standard Stratified Samples when the Aggregate Shares are Known, Gautam Tripathi

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Efficient Production of Wins in Major League Baseball, Brian Volz

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Minority Status and Managerial Survival in Major League Baseball, Brian Volz

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Geographic Deregulation and Commercial Bank Performance in US State Banking Markets, YongDong Zou, Stephen M. Miller, and Bernard Malamud

Submissions from 2007

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Emissions Control and the Regulation of Product Markets: The Case of Automobiles, Rasha Ahmed and Kathleen Segerson

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Total Factor Productivity and Monetary Policy: Evidence from Conditional Volatility, Nicholas Apergis and Stephen M. Miller

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An Experimental Study of Complex-Offer Auctions: Payment Cost Minimization vs. Offer Cost Minimization, Rimvydas Baltaduonis

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Simple-Offer vs. Complex-Offer Auctions in Deregulated Electricity Markets, Rimvydas Baltaduonis

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Technical Efficiency in the Indian Textiles Industry: A Nonparametric Analysis of Firm-Level Data, Anup Kumar Bhandari and Subhash C. Ray

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Public School Choice and Integration: Evidence from Durham, North Carolina, Robert Bifulco, Helen F. Ladd, and Stephen Ross

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How Decisive Is the Decisive Voter?, Eric J. Brunner and Stephen L. Ross

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Marriage Matching with Correlated Preferences, Onur B. Celik and Vicki Knoblauch

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Which School Attributes Matter? The Influence of School District Performance and Demographic Composition on Property Values, John M. Clapp, Anupam Nanda, and Stephen L. Ross

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Stagnation and Change in Islamic History, Metin M. Cosgel

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Tax Collection in History, Metin M. Cosgel and Thomas J. Miceli

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US Corporate Default Swap Valuation: The Market Liquidity Hypothesis and Autonomous Credit Risk, Kwamie Dunbar

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Empirical Analysis of Credit Risk Regime Switching and Temporal Conditional Default Correlation in Credit Default Swap Valuation: The Market liquidity effect, Kwamie Dunbar and Albert J. Edwards

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The Great Moderation and the Relationship between Output Growth and Its Volatility, WenSho Fang and Stephen M. Miller

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Cross-Country Evidence on Output Growth Volatility: Nonstationary Variance and GARCH Models, WenShwo Fang, Stephen M. Miller, and ChunShen Lee

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Quantile Inferences for Inflation and Its Variability: Does a Threshold Inflation Rate Exist?, WenShwo Fang, Stephen M. Miller, and Chih-Chuan Yeh

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Cross-Nativity Marriages, Gender, and Human Capital Levels of Children, Delia Furtado

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Malaria: Disease Impacts and Long-Run Income Differences, Douglas Gollin and Christian Zimmermann

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An Economic Analysis of Drawing Lines in the Sea, Paul Hallwood

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A Note on US Royalty Relief, Rent Sharing and Offshore Oil Production, Paul Hallwood

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From Tranquility to Secession and Other Historical Sequences: A Theoretical Exposition, Paul Hallwood

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Did Impending War in Europe Help Destroy the Gold Bloc in 1936? An Internal Inconsistency Hypothesis, Paul Hallwood, Ronald MacDonald, and Ian Marsh

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The Optimal Capital Structure of Banks: Balancing Deposit Insurance, Capital Requirements and Tax-Advantaged Debt, John P. Harding, Xiaozhing Liang, and Stephen L. Ross

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Student Performance in Traditional vs. Online Format: Evidence from an MBA Level Introductory Economics Class, Oskar R. Harmon and James Lambrinos

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MBA Program Reputation And Quantitative Rankings: New Information for Students, Employers, And Program Administrators, Yongil Jeon, Stephen M. Miller, and Subhash C. Ray

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Monetary Policy Under a Currency Board, Marius Jurgilas

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Asset Pricing with Heterogeneous Agents, Incomplete Markets and Trading Constraints, Tsvetanka Karagyozova

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Institutional Infrastructure to Support 'Super Growth' in Kenya: Governance Thresholds, Reversion Rates and Economic Development, Mwangi S. Kimenyi

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The Economics of Citation, Jeong-Yoo Kim, Insik Min, and Christian Zimmermann

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A Universal Formula for Continuous Utility, Vicki Knoblauch

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Marriage Matching: A Conjecture of Donald Knuth, Vicki Knoblauch

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Organizing the Electronic Century, Richard N. Langlois

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Antidumping Duties Under Asymmetric Cost Information, Xenia Matschke and Anja Schottner

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Tax Motivated Takings, Thomas J. Miceli, Kathleen Segerson, and C. F. Sirmans

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Private Property, Public Use, and Just Compensation: The Economics of Eminent Domain, Thomas Miceli and Kathleen Segerson

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The Optimal Response to Default: Renegotiation or Extended Maturity?, Thomas Miceli and C. F. Sirmans