6 cases of tracheobronchopathia osteochondroplastica are discussed. Diagnoses were established ante mortem. Endoscopic examination was performed in 3 patients because of hematic expectoration, in the other 3 cases the induction was given by chronic bronchorhea, slow-resolving pneumonia and suspected neoplasia, respectively. Calcification and cartilaginous areas were restricted to a small portio...

This paper develops a dynamic general equilibrium model of an agricultural economy in which poor farmers borrow from rich farmers. Because output is stochastic (we allow for idiosyncratic and aggregate shocks), there may be default ex post. We compare equilibria with and without political intervention. Intervention takes the form of a moratorium and is decided by voting. When bad economic shock...

A general model of dynamic common agency with symmetric information is considered. The set of truthful Markov perfect equilibrium payoffs is characterized and the efficiency properties of the equilibria are established. A condition for the uniqueness of equilibrium payoffs is derived for the static and the dynamic game. The payoff is unique if and only if the payoff of each principal coincides ...

Protection buyers share risk with protection sellers, whose assets are only imperfectly pledgeable because of moral hazard. To mitigate moral hazard, privately optimal contracts involve variation margins. When margins are called, protection sellers must sell some of their assets to other investors. We analyse, in a general equilibrium framework, whether this leads to ine¢ cient …re sales. If ma...

This paper combines on-the-job search and human capital theory to study the coexistence of …rm-funded general training and frequent job turnovers. Although ex ante identical, …rms di¤er in their training decisions. The model generates correlations between various …rm characteristics that are consistent with the data. Wage dispersion exists among ex ante identical workers because workers of the ...

In Aumann (1995) and Aumann (1998), time is assumed implicitly in the description of games of perfect information, and it is part of the epistemic distinction between ex-ante and ex-post knowledge. We show that ex-post knowledge in these papers can be expressed by ex-ante knowledge and therefore epistemically, time is irrelevant to the analysis. Furthermore, we show that material rationality by...

An incomplete information game is defined by a probability distribution + over a type space and payoff functions u. Probability distribution +$ is strategically close to + if, for any bounded payoff functions u and any equilibrium of the game (+, u), there exists an approximate equilibrium of the game (+$, u) under which all players get approximately the same payoffs. This note shows that two p...

In this paper, the structural vector autoregression methodology is used to decompose the euro area nominal short-term interest rate into an expected inflation and an ex-ante real interest rate component. The latter may be a useful indicator of the monetary policy stance of the ECB. To this end, a vector autoregression model comprised of the differenced interest rate series and the stationary co...

OBSTETRIC shock is one of the most serious of the accidents associated with childbirth. Puerperal sepsis is the only condition responsible for a larger proportion of maternal deaths. Out of 141 consecutive deaths occurring in the Belfast Maternity Hospital, and the Royal Maternity Hospital, Belfast, during the ten years, 1927-36, twenty-three, i.e., 16.3 per cent., were due to obstetric shock. ...

An ex ante adoption model of bovine somatotropin (BST) is estimated with survey data of California milk producers. Theoretical justification is developed for incorporation of socioeconomic explanatory variables in a technology-adoption model. The advantages of a multinomial over a binomial ex ante model also are presented. The multinomial logit model is used to predict BST adoption, to test hyp...