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Stochastic error specification in primal and dual production systems (replica...
In this paper we derive both primal and dual-cost systems in which the stochastic specifications arise from the model (random environment or measurement errors and optimization... -
Default estimation, correlated defaults, and expert information (replication ...
Capital allocation decisions are made on the basis of an assessment of creditworthiness. Default is a rare event for most segments of a bank's portfolio and data information can... -
The response of prices, sales, and output to temporary changes in demand (rep...
We determine empirically how automakers accommodate shocks to demand. Using data on production, sales, and transaction prices, we estimate a dynamic profit maximization model of... -
Measuring the diffusion of housing prices across space and over time (replica...
How fast and how long (and to what magnitude) does a change in housing prices in one region affect its neighbors? In this paper, I apply a time series technique for measuring...
