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Projection pursuit regression and disaggregate productivity effects: the case...
Productivity of blast furnaces in India is studied by disaggregating the production process and the utilization process. A dimension-reducing nonparametric approach-projection... -
Health insurance and savings over the life cycle—a semiparametric smooth coef...
Individuals save for future uncertain health care expenses. This is less efficient than pooling health risk through insurance. The provision of comprehensive health insurance... -
Why were changes in the federal funds rate smaller in the 1990s? (replication...
We identify two major changes in the dynamics of the federal funds rate in the 1990s. We model the desired rate in a two-regime setting, one when the Fed makes no change and the...