This paper studies U.S. in‡ation adjustment speed to aggregate technology shocks and to monetary policy shocks in a medium size Bayesian VAR model. According to the model estimated on the 1959-2007 sample, in‡ation adjusts much faster to aggregate technology shocks than to monetary policy shocks. These results are robust to di¤erent identi…cation assumptions and measures of aggregate prices. Ho...

The impact of group-based credit programs on the nutritional status of children by gender in rural Bangladesh is evaluated. Lacking exclusion restrictions of the usual sort, the effect of credit program participation by gender of participant is identified by imposing a factor structure on the regression errors. Women’s credit is found to have a large and statistically significant impact on two ...

Even in the face of a continuously changing economic environment, interest rates often remain unadjusted for long periods. When rates are moved, the norm is for a series of small unidirectional discrete basis-point changes. To explain these phenomena we suggest a two-equation system combining a “long-run” equation explaining a binary decision to change or not change the interest-rate, and a “sh...

This paper investigates the differences in the matching process of job seekers and vacancies to be filled between different educational and occupational groups. To investigate this issue, matching functions are estimated across different occupations and educational cohorts, that is, on an even lower level of aggregation than previously investigated in the literature, and along different dimensi...

In repeated games with di®erential information on one side, the labelling \general case" refers to games in which the action of the informed player is not known to the uninformed, who can only observe a signal which is the random outcome of his and his opponent's action. Here we consider the problem of minimizing regret (in the sense ̄rst formulated by Hannan [8]) when the information available...

background: the serum levels of c 3 , c4, and the total hemolytic activity of complement system (ch50) of patients ex­posed to mustard gas (mg) in the battlefield were measured in this study. methods: c3 and c4 were measured by single radial immunodifusion and ch50 was evaluated according to total hemolytic activ­ity of the serum. results:   the serum levels of c 3 showed a significant increase...

this paper focuses on the residential sector demand for electricity, natural gas and petroleum products (kerosene, gas oil and lpg) in iran in the context of a popular locally flexible functional forms - “the almost ideal demand system (aids)”. we pay explicit attention to the theoretical regularity conditions of positivity, monotonicity, and curvature. we treat the curvature property as a main...