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There are two important points in which in which we need assets and liabilities measured in financial accounting: on initial recognition and at a balance sheet day. Many International Financial Report...
This paper was funded by the Labor Project for Working Families through a grant from the David and Lucile Packard Foundation. Michael Reich, Ph.D., Professor of Economics at University of California...
 In the fall  of  2010,  167  auction  experts from top  universities  around the  country sent  a  letter to&...
The investment approach says that, as long as the rate of return to investment is positive, we need to invest less than a dollar today to obtain a dollar of benefi ts in the future. Under the inve...
We consider the problem of portfolio selection, with transaction costs and constraints on exposure to risk. Linear transaction costs, bounds on the variance of the return, and bounds on different shor...
Recent turmoil in the financial markets raises questions about whether and by how much monetary policy should deviate from its regular, more systematic, responses to economic conditions. Whether it ...
With risk neutral traders and zero transactions costs, the expected value of the di erence between the current forward price and the spot price of a commodity at the delivery date of the forward con...
We show that the e§ects of taxes on labor supply are shaped by interactions between adjustment costs for workers and hours constraints set by Örms. We develop a model in which Örms post jo...
Covering the Costs     Cost  involved       2015/7/20
Covering the Costs
This paper presents a new non-cooperative approach to multilateral bargaining. We consider a demand game with the following additional ingredients: (i) there is an exogenous deadline, by which bargai...
This paper explores how the costs of meeting given aggregate targets for pollution emissions change with the imposition of the requirement that key pollution-related industries be compensated for pote...
We analyze the Baron and Myerson (1982) model of regulation under the restriction that transfers are infeasible. Extending the Lagrangian approach to delegation problems of Amador and Bagwell (2013a) ...

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