In a repeated game of incomplete information, myopic players form beliefs on next-period play and choose strategies to maximize next-period payoffs. Beliefs are treated as forecast of future plays. Forecast accuracy is assessed using calibration tests, which measure asymptotic accuracy of beliefs against some realizations. Beliefs are calibrated if they pass all calibration tests. For a positiv...

Thermophilic treatment is one of the advanced treatment technologies used for the purification of high-strength wastewaters. Thermophilic systems are conventionally used for sludge treatment, but their ability to reduce COD to a great extent with sludge generation one-tenth when compared to the other wastewater treatment technologies, have favored its application for wastewater purification. Mo...

This paper develops a Bayesian quantile regression model with time-varying parameters (TVPs) for forecasting inflation risks. The proposed parametric methodology bridges the empirically established benefits of TVP regressions ability to flexibly whole distribution inflation. In order make our approach accessible and relevant forecasting, we derive an efficient Gibbs sampler by transforming stat...

A new density fitting approach to the Coulomb problem in Kohn–Sham and Hartree–Fock theory is introduced. Almost all of the 2and 3-index repulsion integrals become simple overlap-like integrals, without approximation. The method is tested on numerous benchmark problems, which reveal that accuracy equal to or better than standard density fitting can be achieved with the evaluation of around a te...

How much do returns to education differ across different natural experiment methods? To test this, we estimate the rate of return to schooling in Australia using two different instruments for schooling: month of birth and changes in compulsory schooling laws. With annual pre-tax income as our measure of income, we find that the naı̈ve ordinary least squares (OLS) returns to an additional year of...

Woodford (2007) argues that it is not appropriate to regard inflation in the steady state of New Keynesian models as determined by steady-state money growth. Woodford instead argues that the intercept term in the monetary authority’s interest-rate policy rule determines steady-state inflation. In this paper, I offer an alternative interpretation of steady-state behavior, according to which it i...

International Integration, Risk and the Welfare State How does international integration affect the welfare state? Does it call for a leaner or an expanded welfare state? International integration may affect the distortions caused by welfare state activities but also the risks motivating social insurance mechanisms. This paper addresses these potentially counteracting effects in a fully specifi...

Available online 19 September 2012 JEL classification: C72 D72 D74

This article briefly explains how the theory of Austrian School and Feminist Theory intertwine following, in this last theory, one fundamental authors, Betty Friedan. Beyond typical interpretations about feminist movement as a left-wing ideology, it is underlined, importance role right to private property concerning development its proposals need that economic freedom exists promote wealthness ...