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The neoclassical theory of project evaluation is based on models in which agents discount the future at a constant exponential rate. But there is strong empirical evidence say that people discoun...
An Econometric Business Cycle Model with Rational Expectations: Policy Evaluation Results.
This draft was prepared for the Robert A. Mundell Festschrift Conference, organized by Guillermo Calvo, Rudi Dornbusch, and Maury Obstfeld and held at the World Bank, Washington, D.C., October 24, 1...
ONE OF THE most important advances in monetary policy analysis in the past three decades has been the development and use of economy-wide econometric models that combine forward-looking rational exp...
We, the authors, could not have completed this study without inspiration, expertise, and a great deal of data from Harvard’s Office of Admissions and Financial Aid, which has shown unswerving commitme...
Nearly all discussions about the appropriate consumption discount rate for climate-change policy evaluation assume that a single discount rate concept applies. We argue that two distinct concepts and ...
In fields as diverse as technology entrepreneurship and the arts, crowds of interested stakeholders are increasingly responsible for deciding which innovations to fund, a privilege that was previously...
U.S. money market mutual funds (MMFs) are an important source of dollar funding for global financial institutions, particularly those headquartered outside the U.S. MMFs proved to be a source of consi...
Manufacturers are increasingly being required to adhere to product take-back regulations that require them to manage their products at the end of life. Such regulations seek to internalize products' e...
This thesis examines two possible orders of combining multiple experts in elicitations with multiple de-composed events: Should experts be combined early or later in the decision process? This thesis ...
Involvements of major financial institutions in the recent financial crisis have generated renewed interests in fragilities of global financial networks among economists and regulatory authorities. In...
This work considers the possibility to transport CO2 in an adsorbed phase and analyzes its cost as a function of transported quantities, transport conditions and transportation means. CO2 adsorption c...
At logging and at the subsequent wood and wood semi-products treatment the fine grained loose waste arises, e.g. wood dust, saw dust, shavings, chips, bark etc. One of possibilities of its meaningful ...
Outdoor recreation has become an important element of economy. Determination of the value of outdoor recreation to ensure more efficient allocation of resources is becoming an increasingly critical pr...

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