Abstracts of working papers
#9901 -- David Andolfatto and Eric Smith (December 1999)
Technological change and income distribution dynamics (PDF)
This paper explores the link between technological change and the dynamics of the earnings distribution and production. Technological change not only advances society's collective capability but also changes the relative productivities of its members. This latter effect establishes the likely winners and losers from advances in productive capabilities, provides a mechanism that can generate cyclical fluctuations in output as well as employment, and determines the evolution of the earnings distribution.
#9902 -- David Andolfatto and Paul Gomme
Unemployment and economic welfare
#9903 -- Peter Kim, Lingxue Pan and Tony Wirjanto (April 1999)
Bootstrapping and jackknifing neural networks for noisy financial time series
#9904 -- David Andolfatto (November 1999)
Why do societies impose legal restrictions that limit the disposable property rights of some individuals? The explanation proposed here is that these constraints arise as an institutional response against financial markets that, in a sense, work 'too well'. That is, we demonstrate how a well-functioning financial market can potentially work against a social policy designed to ensure a basic minimum standard of living for all types of individuals. Inalienable property rights emerge as a natural institutional response to the relatively improvident tendencies of some members of society when a majority of individuals share a common distaste for neighborhood squalor.