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Markov Switching Rationality
(Private Enterprise Research Center, Texas A&M University, 2022-05-23)
The authors propose novel tests for the detection of Markov switching deviations from forecast rationality. Existing forecast rationality tests either focus on constant deviations from forecast rationality over the full ...
Generosity Across the Income and Wealth Distributions
(Private Enterprise Research Center, Texas A&M University, 2020-06-29)
Despite widespread interest, there is little systematic evidence on the relationship between income, wealth, and charitable giving. Although the media suggests that the well-off are stingy, the misuse of data, incomplete ...
The Long Run Effects of De Jure Discrimination in the Credit Market: How Redlining Increased Crime
(Private Enterprise Research Center, Texas A&M University, 2019-08-20)
Today in the United States, the welfare costs of crime are disproportionately borne by individuals living in predominately African-American or Hispanic neighborhoods. This paper by author John Anders shows that redlining ...
From Fixed-event to Fixed-horizon Density Forecasts: Obtaining Measures of Multi-horizon Uncertainty from Survey Density Forecasts
(Private Enterprise Research Center, Texas A&M University, 2019-12-12)
Surveys of professional forecasters produce precise and timely point forecasts for key macroeconomic variables. However, the accompanying density forecasts are not as widely utilized, and there is no consensus about their ...
Public Pension Reforms and Fiscal Foresight: Narrative Evidence and Aggregate Implications
(Private Enterprise Research Center, Texas A&M University, 2020-06-29)
With aging societies, policymakers have increasingly focused on pension retrenchment reforms in recent years to keep their pension systems solvent. PERC Professor Sarah Zubairy and co-author Huixin Bi explore the evolution ...
Testing Risk Dominance and Payoff Dominance in Repeated Global Stag Hunt Games
(Private Enterprise Research Center, Texas A&M University, 2014-04-01)
In any 22 global game, Carlsson and van Damme (1993b) showed that the game has a unique dominance solvable equilibrium that corresponds to the risk dominant equilibrium of the related common knowledge game with multiple ...
Misdemeanor Prosecution
(Private Enterprise Research Center, Texas A&M University, 2021-04-12)
Communities across the United States are reconsidering the public safety benefits of prosecuting nonviolent misdemeanor offenses. So far there has been little empirical evidence to inform policy in this area. In this paper, ...
Stochastic Superiority
(Private Enterprise Research Center, Texas A&M University, 2021-05-06)
This paper introduces a definition of stochastic superiority. One random variable is stochastically superior to another whenever it stochastically dominates the other after the risk in each random variable has been optimally ...
Does Race Matter for Police Use of Force? Evidence from 911 Calls
(Private Enterprise Research Center, Texas A&M University, 2020-03-10)
While there is much concern about the role of race in police use of force, identifying causal effects is difficult. This is in part because of selection, and in part because researchers often observe only interactions ...
A Model to Evaluate Vehicle Emission Incentive Policies in Japan
(Private Enterprise Research Center, Texas A&M University, 2014-06-01)
Using three years of data from the 47 prefectures of Japan, the authors estimate behavior of households who simultaneously make discrete decisions about vehicle ownership and continuous decisions about driving distance. ...