The methods used in most SAT validity studies cannot be justified by any sample selection assumptions and are uninformative about the source of the SAT’s predictive power. A new omitted variables estimator is proposed; plausibly consistent estimates of the SAT’s contribution to predictions of University of California freshman grade point averages are about 20% smaller than the usual methods imp...

This paper investigates the determinants of Spanish vertical intra-industry trade with a large sample of countries. We empirically test the comparative advantage explanation. To this aim, we build physical, human and technological capital stocks. On average, that is using OLS techniques, differences in endowments are a limitation for vertical intra-industry trade. Using quantile regressions tec...

the frequent occurrence of currency crises in recent years brought the early warning literature back in the researchers spotlight. in recent years, concept of an early warning system (ews) developed that should be able to identify various costly events, such as currency crises, early enough for policy makers to reduce the costs. this study attempted by using iran's economy quarterly data d...

A large economic literature discusses the implications of export sanctions for a variety of states around the world. This paper investigates the macro-level consequences of imposing oil export barriers on an oil exporting country. We employ a large real financial computable general equilibrium for Iran. The model is calibrated based on 1999 Social Accounting Matrix for the economy of Iran inc...

This paper examines the transformation of the Iranian economy through the Twentieth Century within a global context. At the start of that century, the Iranian economy had long remained stagnant, poor, and largely agrarian, with a marginal role in the world economy. By the turn of 21 century, Iran had transformed into a complex and relatively large economy with important consequences for the eco...

this article examines the basic assumption of rational expectations hypothesis on iran's economy from 1966 to 2003. this assumption suggests the neutrality or ineffectiveness of money policy on the development of real variables of production and employment. the results from estimation of production equation do not support the significant influence of unanticipated component of money growth...

This paper presents a general model of an exchange economy with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The key aspect of the model is that the economy is described in distributional terms. JEL Classification D5

Differential tax analysis is used to show how the optimal mix of inflation tax and direct taxation changes with the relative size of the hidden economy. The larger the relative size of the hidden economy, the smaller the optimal ratio of direct tax to inflation tax. Anecdotal empirical evidence supports this result. JEL Classification: E62, H21, H26, O17.

We analyze the ex ante incentive compatible core for replicated private information economies. We show that any allocation in the core when the economy is replicated sufficiently often is approximately Walrasian for the associated Arrow–Debreu economy.  2004 Elsevier Inc. All rights reserved. JEL classification: C7; C71; D5