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Frank A Cowell, Marc Fleurbaey and Bertil Tungodden
We address a puzzle in welfare economics – the possibility that rational people may be simultaneously against two apparently con‡icting forms of “tyranny.” In fact the two types of tyranny can be reconciled but at the po...Read more...
While a large social-choice-theoretic literature discusses the aggregation of individual judgments into collective ones, there is relatively little formal work on the transformation of individual judgments in group delib...Read more...
Franz Dietrich and Christian List
In the theory of judgment aggregation on logically connected propositions, an important question remains open: Which aggregation rules are manipulable and which are strategy-proof? We define manipulability and strategy-p...Read more...
We study the impact of large cross-sections of contemporaneous aggregation of GARCH processes and of dynamic GARCH factor models. The results crucially depend on the shape of the cross-sectional distribution of the GARCH...Read more...
Liudas Giraitis and Peter M Robinson
The aggregation procedure when a sample of length N is divided into blocks of length m = o(N), m ? ? and observations in each block are replaced by their sample mean, is widely used in statistical inference. Taqqu, Tever...Read more...
Marco Lippi and Paolo Zaffaroni
his paper deal with aggregation of AR(1) micro variables driven by a common and idiosyncratic shock with random coefficients. We provide a rigorous analysis, based on results on sums of r.v.'s with a possibly finite firs...Read more...
C Michelacci and Paolo Zaffaroni
Unit root in output, an exceptional 2% rate of convergence, and no change in the underlying dynamics of output seems to be three stylized facts that can not go together. This paper extends the Solow-Swan growth model all...Read more...
Andrew C Harvey, Siem Jan Koopman and J Penzer
Many series are subject to data irregularities such as missing values, outliers, structural breaks and irregular spacing. Data can also be messy, and hence difficult to handle by standard procedures, when they are intrin...Read more...
Researchers in many fields of economics often compare distributions using some criterion or another of inequality, poverty or welfare. It is standard practice to base such comparative analysis on aggregated data. But wil...Read more...