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CEPA has funded the following research projects in 2013.
A New Classification of Legal Systems
Prasad Bhattacharya and Mehmet Ulubasoglu
This project aims to classify legal systems across the world based on property rights. In particular, the project looks at how laws vary across countries in terms of allocation and use of property rights on land.
Instrumental Variables Estimation Without an Exclusion Restriction: A closer examination
This project explore in detail the conditions under which Lewbel's (2012) IV approach can provide unbiased estimates in practice. The project aims to provide useful practical guidance to applied researchers that are planning to use Lewbel's IV approach in their own work.
The Impacts of Quantitative Easing on Developing Economies
Chir-Chur Chao and Pasquale Sgro
The QE policies from the U.S. and Japan have led 'hot money' inflows to developing economies, such as China and Taiwan. This research will provide a general-equilibrium macroeconomic framework to examine the dynamics of exchange rates and stock prices, which can exhibit overshooting or mis-jumps in the adjustment processes to a new equilibrium.
Promotional Competition in Pharmaceutical Firms in Bangladesh: Does it affect prices and quality?
Bangladesh has experienced a significant growth in pharmaceutical industry over the last two decades. There is a growing concern among the patients and the medical experts about the quality of drugs produced by the local generic firms. This project analyses the welfare consequences of aggressive promotional advertisements in the promotion of pharmaceutical drugs in Bangladesh.
Inflation Tax in the Lab: An experimental study of posted prices and directed search with costly money
This project derives simple theoretical propositions regarding the effects of inflation in a model of directed search and monetary exchange. The model's predictions are then tested with a laboratory experiment that closely implements the theoretical framework.
The Contractor Game: A theoretical and experimental analysis
This project examines the contractor game, a two-stage bargaining game related to the ultimatum game (UG). We analyse a simple game-theoretic model in which some players are standard economic agents, while others are averse to (advantageous or disadvantageous) inequity of money payoffs and to (giving or receiving) lies. The model yields straightforward and intuitive predictions concerning how behaviour varies across the three games, which we test with a laboratory experiment.
Dutch Disease and Long-term Productivity: Evidence from firm level data in Australia
This project investigates the effect of currency appreciation on the productivity of domestic firms. Recent Australian experience provides a natural experiment to test the effect of Dutch disease on firm level productivity.
Aid Allocation Criteria
This project provides a comprehensive assessment of the rival criteria used by donors to allocate aid. The project ranks the relative importance of aid allocation criteria.