Advances in Economics and Econometrics: Theory and Applications, Eighth World Congress

by Edited by Mathias Dewatripont , Lars Peter Hansen , Stephen J. Turnovsky

• ISBN13: 9780521818735
• ISBN10: 0521818737
• Format: Hardcover
• Copyright: 2003-01-20
• Publisher: Cambridge University Press

Summary

This is the second of three volumes containing edited versions of papers and commentaries presented in invited symposium sessions of the Eighth World Congress of the Econometric Society. The papers summarize and interpret recent key developments and discuss future directions in a wide range of topics in economics and econometrics. The papers cover both theory and applications. Written by leading specialists in their fields these volumes provide a unique survey of progress in the discipline.

Table of Contents

List of Contributors	ix
Preface	xi
1. Sorting, Education, and Inequality	1	(40)
RAQUEL FERNANDEZ
2. Wage Equations and Education Policy	41	(41)
KENNETH I. WOLPIN
Empirical and Theoretical Issues in the Analysis of
Education Policy: A Discussion of the Papers by Raquel
Fernandez and by Kenneth I. Wolpin	73	(60)
COSTAS MEGHIR
3. Toward a Theory of Competition Policy	82	(51)
PATRICK REY
4. Identification and Estimation of Cost Functions Using
Observed Bid Data: An Application to Electricity Markets	133	(73)
FRANK A. WOLAK
5. Liquidity, Default, and Crashes: Endogenous Contracts in General Equilibrium	170	(36)
JOHN GEANAKOPLOS
6. Trading Volume	206	(78)
ANDREW W. LO AND JIANG WANG	278	(6)
A Discussion of the Papers by John Geanakoplos and by
Andrew W. Lo and Jiang Wang
FRANKLIN ALLEN
7. Inverse Problems and Structural Econometrics: The Example of Instrumental Variables	284	(28)
JEAN-PIERRE FLORENS
8. Endogeneity in Nonparametric and Semiparametric Regression Models	312	(53)
RICHARD BLUNDELL AND JAMES L. POWELL
Endogeneity and Instruments in Nonparametric Models:
A Discussion of the Papers by Jean-Pierre Florens and by
Richard Blundell and James L. Powell	358	(7)
MANUEL ARELLANO
Index	365