Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica - Volume 54

Issue 1

Back Matter

Log In To View Full Content

Erratum: Effects of Growing Incomes on Classified Income Distributions, the Derived Lorenz Curves, and Gini Indices

Hans-Georg Petersen

Log In To View Full Content

Front Matter

Log In To View Full Content

Submission of Manuscripts to Econometrica

Log In To View Full Content

The Superneutrality of Money in the United States: An Interpretation of the Evidence

John Geweke
p. 1-22

Log In To View Full Content Abstract

Common Knowledge, Consensus, and Aggregate Information

Richard D. McKelvey, Talbot Page
p. 109-128

Log In To View Full Content Abstract

Stochastic Communication and Coalition Formation

A. Kirman, C. Oddou, S. Weber
p. 129-138

Log In To View Full Content Abstract

Realization and Nash Implementation: Two Aspects of Mechanism Design

Steven R. Williams
p. 139-152

Log In To View Full Content Abstract

Simultaneity of Issues and Additivity in Bargaining

Hans Peters
p. 153-170

Log In To View Full Content Abstract

Aggregation, Efficiency, and Cross-Section Regression

Thomas M. Stoker
p. 171-188

Log In To View Full Content Abstract

A Theorem of Validity for Edgeworth Expansions

J. D. Sargan, S. E. Satchell
p. 189-214

Log In To View Full Content

Notes and Comments: Comment on Identification in the Linear Errors in Variables Model

Paul A. Bekker
p. 215-218

Log In To View Full Content

Notes and Comments: Additive Separability and Equivalent Scales

Arthur Lewbel
p. 219-222

Log In To View Full Content

Call For Papers: 1986 North American Summer Meeting of the Econometric Society

p. 223-224

Log In To View Full Content

Nomination of Fellows, 1986

p. 223-223

Log In To View Full Content

6th Latin American Meeting of the Econometric Society--1986: Call for Papers

p. 224-225

Log In To View Full Content

1986 Australasian Meeting of the Econometric Society: Announcement and Call for Papers

p. 225-225

Log In To View Full Content

European Meeting of the Econometric Society, Budapest, 1986: Announcement and Call for Papers

p. 225-225

Log In To View Full Content

Announcement and Call for Papers: North American Winter Meeting of the Econometric Society

p. 226-227

Log In To View Full Content

1987 Australasian Meetings of the Econometric Society: Preliminary Announcement

p. 227-227

Log In To View Full Content

Accepted Manuscripts

p. 227-228

Log In To View Full Content

News Notes

p. 229-232

Log In To View Full Content

Borrowing Constraints and Aggregate Economic Activity

Jose A. Scheinkman, Laurence Weiss
p. 23-46

Log In To View Full Content Abstract

Report of the Secretary

Julie P. Gordon
p. 233-238

Log In To View Full Content

Report of the Treasurer

Robert J. Gordon
p. 239-244

Log In To View Full Content

Report of the Editors

Angus Deaton, David Kreps, Gary Chamberlain, Roger Guesnerie
p. 245-246

Log In To View Full Content

Female Labor Supply with Taxation, Random Preferences, and Optimization Errors

A. Zabalza, J. L. Arrufat
p. 47-64

Log In To View Full Content Abstract

When is it Optimal to Kill off the Market for Used Durable Goods?

John Rust
p. 65-86

Log In To View Full Content Abstract

Power and Linear Income Taxes: An Example

Richard M. Peck
p. 87-94

Log In To View Full Content Abstract

On Competitive Market Mechanisms

Jean-Pascal Benassy
p. 95-108

Log In To View Full Content Abstract

Issue 2

[Photograph]: Daniel McFadden, President of the Econometric Society, 1985; First Vice-President of the Econometric Society, 1984; Second Vice-President of the Econometric Society, 1983

Log In To View Full Content

Back Matter

Log In To View Full Content

Front Matter

Log In To View Full Content

Submission of Manuscripts to Econometrica

Log In To View Full Content

The Present Value of Profits and Cyclical Movements in Investment

Andrew B. Abel, Olivier J. Blanchard
p. 249-274

Log In To View Full Content Abstract

The Durable Goods Monopolist and Consistency with Increasing Costs

Charles Kahn
p. 275-294

Log In To View Full Content Abstract

An Information Good Market with Symmetric Externalities

Shigeo Muto
p. 295-312

Log In To View Full Content Abstract

An Example of Price Formation in Bilateral Situations: A Bargaining Model with Incomplete Information

Motty Perry
p. 313-322

Log In To View Full Content Abstract

Multistage Games with Communication

Roger B. Myerson
p. 323-358

Log In To View Full Content Abstract

A Utility Representation for a Preference Relation on a @s-Algebra

Marcus Berliant
p. 359-362

Log In To View Full Content Abstract

A Stochastic Analysis of an Input-Output Model

Guy R. West
p. 363-374

Log In To View Full Content Abstract

Structural and Reduced-Form Models of Choice among Alternatives in Continuous Time: Youth Employment under a Guaranteed Jobs Program

D. Alton Smith, George Farkas, Randall J. Olsen
p. 375-394

Log In To View Full Content

Tests of Noncausality under Markov Assumptions for Qualitative Panel Data

J. J. Laffont, M. B. Bouissou, Q. H. Vuong
p. 395-414

Log In To View Full Content Abstract

Sampling Designs for Short Panel Data

Bianca L. De Stavola
p. 415-424

Log In To View Full Content Abstract

Notes and Comments: On the Allocation of Residents to Rural Hospitals: A General Property of Two-Sided Matching Markets

Alvin E. Roth
p. 425-428

Log In To View Full Content

Notes and Comments: Limit Pricing when the Potential Entrant is Uncertain of its Cost Function

Joseph E. Harrington, Jr.
p. 429-438

Log In To View Full Content

1986 Australasian Meeting of the Econometric Society: Announcement and Call for Papers

p. 439-440

Log In To View Full Content

6th Latin American Meeting of the Econometric Society--1986: Call for Papers

p. 439-439

Log In To View Full Content

Nomination of Fellows, 1986

p. 439-439

Log In To View Full Content

Announcement and Call for Papers: North American Winter Meeting of the Econometric Society

p. 440-442

Log In To View Full Content

European Meeting of the Econometric Society, Budapest, 1986: Announcement and Call for Papers

p. 440-440

Log In To View Full Content

1987 Australasian Meetings of the Econometric Society: Preliminary Announcement

p. 442-442

Log In To View Full Content

Accepted Manuscripts

p. 442-442

Log In To View Full Content

News Notes

p. 443-446

Log In To View Full Content

Report of the President

p. 447-453

Log In To View Full Content

The Econometric Society Research Monograph Series: Report of the Editors

p. 455-456

Log In To View Full Content

Submission of Manuscripts to the Econometric Society Monograph Series

p. 457-457

Log In To View Full Content

Program of the Fifth World Congress of the Econometric Society

p. 459-505

Log In To View Full Content

Issue 3

Back Matter

Log In To View Full Content

Front Matter

Log In To View Full Content

Submission of Manuscripts to Econometrica

Log In To View Full Content

Neighborhood Systems for Production Sets with Indivisibilities

Herbert E. Scarf
p. 507-532

Log In To View Full Content Abstract

The Folk Theorem in Repeated Games with Discounting or with Incomplete Information

Drew Fudenberg, Eric Maskin
p. 533-554

Log In To View Full Content Abstract

A Structural Retirement Model

Alan L. Gustman, Thomas L. Steinmeier
p. 555-584

Log In To View Full Content Abstract

Inflation and Asset Prices in an Exchange Economy

Jean-Pierre Danthine, John B. Donaldson
p. 585-606

Log In To View Full Content Abstract

Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives

Christophe Chamley
p. 607-622

Log In To View Full Content Abstract

Competition of Firms: Discriminatory Pricing and Location

Arthur P. Hurter, Jr., Phillip J. Lederer
p. 623-640

Log In To View Full Content Abstract

Bounding the Effects of Proxy Variables on Regression Coefficients

John W. Pratt, William S. Krasker
p. 641-656

Log In To View Full Content Abstract

The Encompassing Principle and its Application to Testing Non-Nested Hypotheses

Grayham E. Mizon, Jean-Francois Richard
p. 657-678

Log In To View Full Content Abstract

Notes and Comments: An Exogeneity Test for a Simultaneous Equation Tobit Model with an Application to Labor Supply

Richard J. Smith, Richard W. Blundell
p. 679-686

Log In To View Full Content

Notes and Comments: A Note on the Unbiasedness of Feasible GLS, Quasi-Maximum Likelihood, Robust, Adaptive, and Spectral Estimators of the Linear Model

Donald W. K. Andrews
p. 687-698

Log In To View Full Content

Notes and Comments: Confidence Regions for Multipliers in Linear Dynamic Models

Graeme Wells, Lewis Evans
p. 699-706

Log In To View Full Content

Notes and Comments: Falmagne and the Rationalizability of Stochastic Choices in Terms of Random Orderings

Prasanta K. Pattanaik, Salvador Barbera
p. 707-716

Log In To View Full Content

1987 Australasian Meetings of the Econometric Society: Preliminary Announcement

p. 717-717

Log In To View Full Content

Accepted Manuscripts

p. 717-718

Log In To View Full Content

News Notes

p. 719-720

Log In To View Full Content

1985 Election of Fellows to the Econometric Society

p. 721-724

Log In To View Full Content

Fellows of the Econometric Society as of January 1986

p. 725-738

Log In To View Full Content

Program of the 1985 North American Winter Meetings of the Econometric Society

p. 739-753

Log In To View Full Content

Issue 4

Back Matter

Log In To View Full Content

Front Matter

Log In To View Full Content

News Notes

Log In To View Full Content

Submission of Manuscripts to Econometrica

Log In To View Full Content

Patents as Options: Some Estimates of the Value of Holding European Patent Stocks

Ariel Pakes
p. 755-784

Log In To View Full Content Abstract

Bargaining and Competition Part I: Characterization

Douglas Gale
p. 785-806

Log In To View Full Content Abstract

Bargaining and Competition Part II: Existence

Douglas Gale
p. 807-818

Log In To View Full Content Abstract

The General Basis of Arbitrator Behavior: An Empirical Analysis of Conventional and Final-Offer Arbitration

Henry S. Farber, Max H. Bazerman
p. 819-844

Log In To View Full Content Abstract

Learning Procedures and Convergence to Rationality

C. Fourgeaud, C. Gourieroux, J. Pradel
p. 845-868

Log In To View Full Content Abstract

Instrumental-Variable Estimation of an Error-Components Model

Takeshi Amemiya, Thomas E. MaCurdy
p. 869-880

Log In To View Full Content Abstract

The Exact Distribution of the Wald Statistic

P. C. B. Phillips
p. 881-896

Log In To View Full Content Abstract

Cake Eating, Chattering, and Jumps: Existence Results for Variational Problems

Paul Romer
p. 897-908

Log In To View Full Content Abstract

Distribution of Power under Stochastic Social Choice Rules

Bezalel Peleg, Prasanta K. Pattanaik
p. 909-922

Log In To View Full Content Abstract

Common Agency

B. Douglas Bernheim, Michael D. Whinston
p. 923-942

Log In To View Full Content Abstract

A Theory of Exit in Duopoly

Drew Fudenberg, Jean Tirole
p. 943-960

Log In To View Full Content Abstract

The Transmission of Data Noise into Policy Noise in U.S. Monetary Control

Agustin Maravall, David A. Pierce
p. 961-980

Log In To View Full Content Abstract

Notes and Comments: On the Non-Transferable Utility Value: A Reply to Aumann

Alvin E. Roth
p. 981-984

Log In To View Full Content

Notes and Comments: On the Non-Transferable Utility Value: Rejoinder

Robert J. Aumann
p. 985-990

Log In To View Full Content

Notes and Comments: The Measurement and Decomposition of Multi-Dimensional Inequality

Esfandiar Maasoumi
p. 991-998

Log In To View Full Content

1987 Australasian Meetings of the Econometric Society: Preliminary Announcement

p. 999-999

Log In To View Full Content

1987 Far East Meetings of the Econometric Society: Preliminary Announcement

p. 999-999

Log In To View Full Content

Accepted Manuscripts

p. 999-1000

Log In To View Full Content

Issue 5

Back Matter

Log In To View Full Content

Front Matter

Log In To View Full Content

Submission of Manuscripts to Econometrica

Log In To View Full Content

On the Strategic Stability of Equilibria

Elon Kohlberg, Jean-Francois Mertens
p. 1003-1038

Log In To View Full Content Abstract

The Price Equilibrium Existence Problem in Topological Vector Lattices

Andreu Mas-Colell
p. 1039-1054

Log In To View Full Content Abstract

Bargaining Power, Fear of Disagreement, and Wage Settlements: Theory and Evidence from U.S. Industry

Jan Svejnar
p. 1055-1078

Log In To View Full Content Abstract

Capital Accumulation and Uncertain Lifetimes with Adverse Selection

Andrew B. Abel
p. 1079-1098

Log In To View Full Content Abstract

A Theory of Ambiguity, Credibility, and Inflation under Discretion and Asymmetric Information

Alex Cukierman, Allan H. Meltzer
p. 1099-1128

Log In To View Full Content Abstract

Rational Expectations Equilibria, Learning, and Model Specification

M. M. Bray, N. E. Savin
p. 1129-1160

Log In To View Full Content Abstract

Stochastic Equilibria: Existence, Spanning Number, and the `No Expected Financial Gain from Trade' Hypothesis

Darrell Duffie
p. 1161-1184

Log In To View Full Content Abstract

Consumer Information in Markets with Random Product Quality: The Case of Queues and Balking

Refael Hassin
p. 1185-1196

Log In To View Full Content Abstract

Implicit Mean Value and Certainty Equivalence

Peter C. Fishburn
p. 1197-1206

Log In To View Full Content Abstract

Stability Comparison of Estimators

Donald W. K. Andrews
p. 1207-1236

Log In To View Full Content Abstract

Microeconometric Demand System with Binding Nonnegativity Constraints: The Dual Approach

Lung-Fei Lee, Mark M. Pitt
p. 1237-1242

Log In To View Full Content Abstract

Notes and Comments: Wald Criteria for Jointly Testing Equality and Inequality Restrictions

David A. Kodde, Franz C. Palm
p. 1243-1248

Log In To View Full Content

Notes and Comments: An Extension to the Implementability of Reduced Form Auctions

Yu-Min Chen
p. 1249-1252

Log In To View Full Content

1987 Australasian Meetings of the Econometric Society: Preliminary Announcement

p. 1253-1254

Log In To View Full Content

Call for Papers: 1987 North American Summer Meeting of the Econometric Society

p. 1253-1253

Log In To View Full Content

Submission of Manuscripts to the Econometric Society Monograph Series

p. 1253-1253

Log In To View Full Content

1987 Far Eastern Meeting of the Econometric Society: Announcement and Call for Papers

p. 1254-1254

Log In To View Full Content

Accepted Manscripts

p. 1254-1256

Log In To View Full Content

News Notes

p. 1257-1258

Log In To View Full Content

Issue 6

North American Winter Meeting of the Econometric Society: Announcement and Call for Papers

p. 1495-1496

Log In To View Full Content

Accepted Manuscripts

p. 1497-1498

Log In To View Full Content

News Notes

p. 1499-1500

Log In To View Full Content

Erratum: The General Basis of Arbitrator Behavior: An Empirical Analysis of Conventional and Final-Offer Arbitration

Henry S. Farber, Max H. Bazerman
p. 1501-1501

Log In To View Full Content

The General Basis of Arbitrator Behavior: An Empirical Analysis of Conventional and Final-Offer Arbitration

Henry S. Farber, Max H. Bazerman
p. 1503-1528

Log In To View Full Content Abstract

Back Matter

Log In To View Full Content

Front Matter

Log In To View Full Content

Submission of Manuscripts to Econometrica

Log In To View Full Content

Volume Information

Log In To View Full Content

Theoretic Models: Mathematical Form and Economic Content

Gerard Debreu
p. 1259-1270

Log In To View Full Content Abstract

Values of Markets with Satiation or Fixed Prices

Jacques H. Dreze, Robert J. Aumann
p. 1271-1318

Log In To View Full Content Abstract

Reporting Errors and Labor Market Dynamics

James M. Poterba, Lawrence H. Summers
p. 1319-1338

Log In To View Full Content Abstract

An Analysis of the Health and Retirement Status of the Elderly

Paul Taubman, Robin C. Sickles
p. 1339-1356

Log In To View Full Content Abstract

An Examination of Multijurisdictional Corporate Income Taxation under Formula Apportionment

John D. Wilson, Roger Gordon
p. 1357-1373

Log In To View Full Content Abstract

An Approach to Communication Equilibria

Francoise Forges
p. 1375-1385

Log In To View Full Content Abstract

Analytical Policy Design under Rational Expectations

Charles H. Whiteman
p. 1387-1405

Log In To View Full Content Abstract

Mobility Indices in Continuous Time Markov Chains

Gary A. Zarkin, John Geweke, Robert C. Marshall
p. 1407-1423

Log In To View Full Content Abstract

A More Powerful Method for Triangularizing Input-Output Matrices and the Similarity of Production Structures

Yukio Fukui
p. 1425-1433

Log In To View Full Content Abstract

Symmetrically Trimmed Least Squares Estimation for Tobit Models

James L. Powell
p. 1435-1460

Log In To View Full Content Abstract

Consistent Estimation of Scaled Coefficients

Thomas M. Stoker
p. 1461-1481

Log In To View Full Content Abstract

Notes and Comments: Control Variates to Estimate the Reduced Form Variance in Econometric Models

Frederic P. Sterbenz, Giorgio Calzolari
p. 1483-1490

Log In To View Full Content

Call for Papers: 1987 North American Summer Meeting of the Econometric Society

p. 1491-1491

Log In To View Full Content

Nomination of Fellows, 1987

p. 1491-1491

Log In To View Full Content

The Latin American Meeting of the Econometric Society--1987: Call for Papers

p. 1491-1494

Log In To View Full Content

1987 Australasian Meeting of the Econometric Society: Announcement and Call for Papers

p. 1494-1494

Log In To View Full Content

1987 Far Eastern Meeting of the Econometric Society: Announcement and Call for Papers

p. 1495-1495

Log In To View Full Content