Knowledge that Transforms

financial market ; information ; economic models ; pricing

Stephen G. Grubaugh, Andrew J. Stollar, G. Rodney Thompson, Socialist Structural Gaps: A Simultaneous Inference Analysis, The Review of Economics and Statistics, Vol. 71, No. 4 (Nov., 1989), pp. 693-698

Hua-Shan Chi, Substitution between Production Labor and Other Inputs in Unionized and Nonunionized Manufacturing: Comment, The Review of Economics and Statistics, Vol. 71, No. 3 (Aug., 1989), pp. 549-552

Badi H. Baltagi, James M. Griffin, Alternative Models of Managerial Behavior: Empirical Tests for the Petroleum Industry, The Review of Economics and Statistics, Vol. 71, No. 4 (Nov., 1989), pp. 579-585

A method for estimating the marginal rate of substitution in the intertemporal capital asset pricing model is presented. The marginal rate of substitution is treated as an unobservable and one-period returns are used to develop a method of moments estimator that is consistent. Consistency depends on both a large number of time observations and a large number of securities. In the last section of the paper, the estimates of the marginal rate of substitution are used to test whether stock prices are unbiased predictors of ex post market fundamentals. Copyright 1989 by MIT Press.

Vittorio Corbo, Paul D. McNelis, The Pricing of Manufactured Goods during Trade Liberalization: Evidence from Chile, Israel, and Korea, The Review of Economics and Statistics, Vol. 71, No. 3 (Aug., 1989), pp. 491-499