http://hdl.handle.net/10016/713 Sat, 18 May 2013 21:38:14 GMT 2013-05-18T21:38:14Z http://hdl.handle.net/10016/16622 Title: Coordination in heterogeneous federal systems Author(s): Loeper, Antoine Abstract: We compare centralized and decentralized policy making in a federation in which policy heterogeneity is inherently costly and preferences vary across jurisdictions: all jurisdictions agree that some harmonization is desirable but no one agrees on the direction of harmonization. This type of collective choice problem arises when members of a federal system have to coordinate nonbudgetary policies such as laws, regulations, standards, or diplomatic policies. Contrary to the common wisdom, decentralization becomes optimal when coordination becomes very important. When coordination costs are symmetric, decentralization dominates centralization irrespective of the magnitude of externalities and the heterogeneity of preferences. In the case of discontinuous network effects, standardization never Pareto dominates decentralization Sun, 31 Jul 2011 22:00:00 GMT http://hdl.handle.net/10016/16622 2011-07-31T22:00:00Z http://hdl.handle.net/10016/3323 Title: Rejections of orthogonality in rational expectations models: Further Monte Carlo results for an extended set of regressors Author(s): Dolado, Juan José [dolado]; Banerjee, Anindya; Galbraith, John W. Abstract: It is well known that many rationality tests do not have the correct sizes if innovations in the explanatory series are correlated with the regressand and the explanatory series are substantially autocorrelated. We argue, by considering somewhat more general data generating processes and models, that the importance of the over-rejections may have been over-emphasized. Wed, 31 Dec 1986 23:00:00 GMT http://hdl.handle.net/10016/3323 1986-12-31T23:00:00Z http://hdl.handle.net/10016/3261 Title: Evaluating changes in the bank of Spain´s interventions : an alternative approach using marked point processes Author(s): Dolado, Juan José [dolado]; María-Dolores, Ramón Tue, 30 Apr 2002 22:00:00 GMT http://hdl.handle.net/10016/3261 2002-04-30T22:00:00Z http://hdl.handle.net/10016/3322 Title: Orthogonality tests with de-trended data: Interpreting Monte-Carlo results using Nagar expansions Author(s): Dolado, Juan José [dolado]; Banerjee, Anindya; Galbraith, John W. Abstract: We extend previous results concerning the behaviour of a finite-sample approximation to the distribution of the t-statistic used in testing orthogonality of a variable to a given information set. In particular, we look at the case in which the data are de-trended, innovations in the explanatory variable are correlated with the regressand, and the explanatory variable is substantially autocorrelated. Sun, 31 Dec 1989 23:00:00 GMT http://hdl.handle.net/10016/3322 1989-12-31T23:00:00Z