HA Hopenhayn - Econometrica: Journal of the Econometric Society, 1992 - JSTOR
Page 1. Econometrica, Vol. 60, No. 5 (September, 1992), 1127-1150 ENTRY, EXIT,
AND FIRM DYNAMICS IN LONG RUN EQUILIBRIUM' BY HUGO A. HOPENHAYN2
This paper develops and analyzes a dynamic stochastic ...
H Hopenhayn… - Journal of Political Economy, 1993 - JSTOR
Recent empirical work indicates that job creation and destruction rates are large, implying
significant amounts of job reallocation across firms. This paper builds a general equilibrium
model of this reallocation process, calibrates it using data on firm-level dynamics, and ...
HA Hopenhayn… - Journal of political economy, 1997 - JSTOR
Page 1. Optimal Unemployment Insurance Hugo A. Hopenhayn University of
Rochester and Universitat Pompeu Fabra Juan Pablo Nicolini Universidad Torcuato
di Tella and Universitat Pompeu Fabra This paper considers ...
VV Chari… - Journal of Political Economy, 1991 - JSTOR
We develop a model of vintage human capital in which each technology requires vintage-
specific skills. We examine the properties of a stationary equilibrium for our economy. The
stationary equilibrium is characterized by an endogenous distribution of skilled workers ...
R Albuquerque… - Review of Economic Studies, 2004 - Wiley Online Library
Skip to Main Content. ...
GL Clementi… - The Quarterly Journal of …, 2006 - qje.oxfordjournals.org
Page 1. A THEORY OF FINANCING CONSTRAINTS AND FIRM DYNAMICS* GIAN LUCA
CLEMENTI AND HUGO A. HOPENHAYN There is widespread evidence supporting the conjecture
that borrowing con- straints have important implications for firm growth and survival. ...
HA Hopenhayn… - Econometrica: Journal of the Econometric …, 1992 - JSTOR
Page 1. Econometrica, Vol. 60, No. 6 (November, 1992), 1387-1406 STOCHASTIC
MONOTONICITY AND STATIONARY DISTRIBUTIONS FOR DYNAMIC ECONOMIES
BY HUGO A. HOPENHAYN AND EDWARD C. PRESCOTTI ...
JR Campbell… - 2002 - nber.org
Page 1. NBER WORKING PAPER SERIES MARKET SIZE MATTERS Jeffrey R.
Campbell Hugo A. Hopenhayn Working Paper 9113 http://www.nber.org/papers/
w9113 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 ...
A Skrzypacz… - Journal of Economic Theory, 2004 - Elsevier
This paper considers the question of tacit collusion in repeated auctions with independent
private values and with limited public monitoring. McAfee and McMillan show that the extent
of collusion is tied to the availability of transfers. Monetary transfers allow cartels to extract ...
HA Hopenhayn - Journal of Economic Dynamics and Control, 1992 - Elsevier
HA Hopenhayn… - RAND Journal of Economics, 2001 - JSTOR
Page 1. RAND Journal of Economics Vol. 32, No. 1, Spring 2001 pp. 152-166 Innovation variety
and patent breadth Hugo A. Hopenhayn* and Matthew F. Mitchell** When innovations are
heterogeneous, it may be advantageous to provide a variety of patents. ...
A Cabrales… - Carnegie-Rochester Conference Series on …, 1997 - Elsevier
... Several theoretical models have been applied to provide a quantitative verdict. The
results are far from clear. Bentolila and Bertola 'Correspondence to: Hugo Hopenhayn,
Department of Economics, University of Rochester, NY 14627. ...
H Hopenhayn - 2004 - nber.org
Over the last few years, the debate on labor market reform has been at the center of
economic policy debate in Argentina. This debate has been fueled by the sustained growth
in the unemployment rate observed during the decade. One of the major targets of the ...
H Hopenhayn… - Journal of Law, economics, and …, 1996 - Oxford Univ Press
Abstract In political settings, delegation is often motivated by differences in expertise or costs
of information gathering. Even if a political principal is less well informed than a regulatory
agency, she can monitor whether the agency is acting in her best interests by taking ...
R Albuquerque… - 1998 - papers.ssrn.com
Abstract: We develop a general dynamic model in which borrowing constraints arise
endogenously as part of a constrained-efficient contract when borrowers face limited liability
and debt repayment cannot be perfectly enforced. The model is qualitatively consistent ...
S Galiani… - Journal of Development Economics, 2003 - Elsevier
H Hopenhayn, G Llobet… - Journal of Political Economy, 2006 - JSTOR
This paper presents a model of cumulative innovation in which firms are heterogeneous in
their research ability. We study the optimal reward policy when the quality of the ideas and
their subsequent development effort are private information. Monopoly power is a scarce ...
HA Hopenhayn… - The Review of …, 1996 - restud.oxfordjournals.org
Page 1. Review of Economic Studies (1996) 63, 611-625 © 1996 The Review of Economic Studies
Limited 0034-6527/96/00260611$02.00 Policy Variability and Economic Growth HUGO A.
HOPENHAYN University ofRochester and Unioersitat Pompeu-Fabra and ...
HA Hopenhayn - Economics Working Papers, 1993 - ideas.repec.org
Downloadable! No abstract is available for this item.
H Hopenhayn… - 2003 - cemfi.com
Abstract Entrepreneurs bear substantial risk, but empirical evidence shows no sign of a
positive premium. This paper develops a theory of endogenous entrepreneurial risk taking
that explains why self-financed entrepreneurs may find it optimal to invest into risky ...
G Llobet, H Hopenhayn,
M Mitchell… - 2000 - papers.ssrn.com
Abstract: This paper presents a model of cumulative innovation where firms are
heterogeneous in their research ability. We study the optimal reward policy when the quality
of the ideas and their subsequent development effort are private information. The optimal ...
C Hauser… - 2005 - itam.mx
How is cooperation without immediate reciprocity sustained in a long term relationship?
Consider the following example: Two firms are engaged in a joint venture. At random times
one of them finds a discovery; if disclosed, the discovering firm's payoffs will be lower but ...
G Vereshchagina… - The American Economic …, 2009 - ingentaconnect.com
... University. Hugo Hopenhayn acknowledges support from the National Science
Foundation (grant SBR-0215764). Page 2. VOL. 99 NO. 5 1809 VEREshChAgINA
ANd hOpENhAyN: RIsk TAkINg By ENTREpRENEuRs wealth ...
HA Hopenhayn, JP Nicolini… - 1994 - hassler-j.iies.su.se
Page 1. Optimal Unemployment Insurance and Employment History Hugo A. Hopenhayn
Universidad Torcuato Di Tella and University of Rochester Juan Pablo Nicolini∗, †
Universidad Torcuato Di Tella September 29, 2005 Abstract ...
H Hopenhayn… - Unpublished manuscript, UCLA and MIT, 2007 - laef.ucsb.edu
Abstract This paper studies the optimal financing of an investment project subject to the risk
of default. A project needs outside funding from a lender, but the borrower can walk away at
any moment and take some outside opportunity. The value of this opportunity is random ...
HA Hopenhayn… - Journal of Economic Theory, 1996 - upi-yptk.ac.id
Page 1. LOP8M. V8.0. Page 01:01 m Journal of Economic Theory 2076 journal of
economic theory 68, 349 379 (1996) Information, Liquidity, and Asset Trading in
a Random Matching Game* Hugo A. Hopenhayn University of ...
HA Hopenhayn… - The Review of Economic …, 2009 - restud.oxfordjournals.org
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H Hopenhayn… - Reforming Severance Pay, 2002 - books.google.com
The purpose of this chapter is to examine the performance of alternative designs for the
provision of unemployment insurance. As in the case of many other programs of social
insurance, there has been growing concern about the adverse incentives that might be ...
H Hopenhayn… - research memo, 2004 - repec.org
Abstract Most Latin American countries experienced their last peak in output per capita
relative to the United States' between 1971 and 1982. Prior to this peak per capita output
was rapidly catching up to the developed world. Twenty years after the peak the average ...
HA Hopenhayn, F Squintani - The Review of …, 2011 - restud.oxfordjournals.org
... Further, Stefano DeMichelis' help in checking mathematical proofs and David Deller's help in
checking the verbal presentation are gratefully acknowledged. The usual caveat applies. Hugo
Hopenhayn for NSF support under grants SES-0215764 and SES-0922461. ...
HA Hopenhayn… - 1999 - nber.org
Page 1. NBER WORKING PAPER SERIES INNOVATION FERTILITY AND PATENT
DESIGN Hugo A. Hopenhayn Matthew F. Mitchell Working Paper 7070
http://www.nber.org/papers/w7070 NATIONAL BUREAU OF ECONOMIC ...
H Hopenhayn… - 2004 - eprints.ucl.ac.uk
Preemption games are widely used to model patent races, innovation adoption and market
entry problems. A previously neglected feature of these problems is that the agents states
(eg R&D firms' technological improvements) are kept secret and stochastically change ...
H Hopenhayn… - University of Minnesota, Center for …, 1987 - econ.umn.edu
ABSTRACT The existence of fixed points for monotone maps on spaces of measures is
established. The case of monotone Markov processes is analyzed and a uniqueness and
global stability condition is developed. A comparative statics result is presented and the ...
GL Clementi… - Unpublished manuscript. Univ. of …, 2001 - igier.uni-bocconi.it
Abstract There is widespread evidence supporting the conjecture that borrowing constraints
have important implications for firm growth and survival. In this paper we model a multi-
period borrowing/lending relationship with asymmetric information. We show that ...
[CITATION] A Competitive Stochastic Model of Entry and Exit to an Industry
H Hopenhayn - Unpublished Manuscript, University of Minnesota, 1986
[CITATION] Industry equilibrium dynamics: A general competitive theory
H Hopenhayn - … manuscript, Stanford.(1992):" Exit, Selection and the …, 1990
S Lohmann… - Games and Economic Behavior, 1998 - Elsevier
Political principals typically use low-cost “fire-alarm” signals transmitted by the media,
interest groups, and disaffected constituents to monitor the activities of regulatory agencies.
We argue that regulatory decision making is biased and inconsistent if the instruments of ...
HA Hopenhayn… - … the poor: social protection in the …, 2001 - books.google.com
Page 71. CHAPTER FOUR Heterogeneity and Optimal Unemployment Insurance Hugo A.
Hopenhayn and Juan Pablo Nicolini The purpose of this chapter is to explore the effects of
heterogeneity on the design of optimal unemployment insurance (UI). ...
A Cabrales… - Nº.: Working Papers; 1998-260, 1998 - e-archivo.uc3m.es
We generalize the Mortensen-Pissarides (1994) model of the labor market with a more
realistic structure for the stochastic process of the shocks to the worker-rm match. In this way
we can acommodate the empirical observation that hazard rates of job termination ...
H Hopenhayn… - manuscript, Global Development Network, 2000 - eldis.org
The purpose of this paper is to explore the role of distortions to capital accumulation in
explaining the development experience of Latin America (LA) between 1960 and 1997.
These distortions a¤ ect the relative price of capital and its opportunity cost.
A Skrzypacz, H Hopenhayn… - WORKING PAPER …, 1999 - rcer.econ.rochester.edu
Abstract This paper considers the question of tacit collusion in repeated auctions with
independent private values. McAfee and McMillan show that the extent of collusion is limited
by the availability of transfers. If no transfers are possible, the private information of ...
HA Hopenhayn… - Research Papers, 2001 - ideas.repec.org
Downloadable! This paper considers the question of tacit collusion in repeated auctions with
independent private values and with limited public monitoring. McAfee and McMillan show that
the extent of collusion is tied to availability of transfers. Monetary transfers allow cartels to ...
[CITATION] A dynamic stochastic model of entry and exit to an industry
HA Hopenhayn - 1989 - Graduate School of Business, …
HA Hopenhayn… - 2004 Meeting Papers, 2004 - ideas.repec.org
This paper characterizes optimal renegotiation proof public perfect equilibrium in a repeated
partnership game. The model was originally introduced by Mobius. Players have random arrival
of endowments which are privately observed that are more valued by the partner than the ...
H Hopenhayn… - Review of Economic Dynamics, 2010 - Elsevier
We study the problem of a firm that faces asymmetric information about the persistent
productivity of its potential workers. In our framework, a worker's productivity is either
assigned by nature at birth, or determined by an unobservable initial action of the worker ...
[CITATION] Unemployment Insurance Savings Accounts: Optimal?
H Hopenhayn - University of Rochester, Mimeo, 2000
[CITATION] Job Turnover and Policy Evaluation in a Model of Industry Equilibrium
H Hopenhayn… - Graduate School of Business, Stanford University, abril, 1991
H Hopenhayn… - UCLA and University of Toronto Working …, 2011 - nber.org
Abstract We characterize the solution to the problem facing a planner who must allocate
preferential treatment across two firms who can use preferential treatment to make profits,
and in turn are encouraged to innovate by the provision of preferential treatment. The ...
HA Hopenhayn… - Working Papers, 1996 - econpapers.repec.org
By Hugo A. Hopenhayn and Susanne Lohmann; Delegation and the Regulation of Risk.
W Garcia-Fontes… - Spanish economic review, 2000 - Springer
Abstract. Entry restrictions are a common form of regulation in markets and occupations,
either as a means of limiting the size of a market or affecting the quality of products or
services provided by it. This paper analyzes demand, cost and informational ...
H Hopenhayn… - Political Economy, Growth and …, 1992 - books.google.com
Comparisons of labor market performance in Europe and the United States in the post-1970
period has led to considerable interest in the aggregate implications of regulations affecting
the costs that individual firms must bear in making labor force adjustments. Two casual ...
[CITATION] Vintage human capital'
VV Chad… - Journal of Political Economy, 1991
[CITATION] VExplaining Argentinals Greal Depression of 1975 $1990, V in Sources of Growth in Latin America, Fernandez Arias, Eduardo, Rodolfo Manuelli, and …
H Hopenhayn… - Washington DC: Inter $ American Development Bank, 2005
[CITATION] Optimal Lending Contracts and Firm
R Albuquerque… - 2004
[CITATION] Market Size Effects in US Cities' Retail Trade Industries
JR Campbell… - 2001 - unpublished working paper, …
[CITATION] Delegation and the Regulation of Risk, 23 Games & Econ
S Lohman… - Behav, 1998
H Hopenhayn, F Squintani… - 2007 - dynmod.vwl.uni-muenchen.de
Abstract We introduce a simple yet rich repeated R&D race model to investigate the
implications of patent policy on the timing of innovation disclosure. In each stage, R&D
competitors are randomly selected among a pool of potential competitors. They conduct ...
[CITATION] Optimal Collusion in Repeated Second Price Auctions when the Seller Does not Reveal the Bids
A Skrzypacz… - 2000 - Mimeo
[CITATION] The Shakeout.” wp# 33 Univ
H Hopenhayn - Pompeu Fabra, April, 1993
[CITATION] Optimal Unemployment Insurance," Department of Economics, University of Rochester
H Hopenhayn… - 1996 - working paper 421
[CITATION] Fire-Alarm Signals and the Political Control of Regulatory Agencies
H Hopenhayn… - Journal of Law, Economics, and Organization, 1996
[CITATION] Latin America in the Twentieth Century: Stagnation, then Collapse
H Hopenhayn… - 2004 - Working Paper 28, Department of …
H Hopenhayn… - 1997 - books.google.com
THE PURPOSE of this chapter is to evaluate the unemployment insurance program
introduced in Argentina in 1992. It might seem paradoxical that while the welfare state
seems to be in crisis in developed economies, a developing economy should introduce a ...
W Garcia-Fontes… - 1992 - econ.upf.edu
... Entry Restrictions and the Determination of Quality Walter Garcia-Fontes Universität Pompeu
Fabra and Hugo Hopenhayn Stanford University" February 1992 Abstract Entry restrictions are
a common forni of régulation in market» and occupa- tions, either as a rneans of limiting ...
HA Hopenhayn - Carnegie-Rochester Conference Series on …, 1996 - econpapers.repec.org
By Hugo A. Hopenhayn; Unemployment insurance with moral
hazard in a dynamic economy A comment.
HA Hopenhayn - Journal of Money, Credit and Banking, 2011 - Wiley Online Library
Skip to Main Content. ...
S Brusco… - Economic Theory, 2007 - Springer
Abstract We analyze the problem of eliminating an inefficient regulation, such as protection,
in a dynamic model in which there is incomplete information and unanimous approval from
all parties involved is necessary. Existing firms have heterogeneous cost, and efficiency ...
[CITATION] Economic Growth in Latin America and the Caribbean: Country Study for Argentina
H Hopenhayn… - Universidad Torcuato Di Tella. Photocopy, 2001
H Hopenhayn… - 2002 - papers.ssrn.com
Abstract: After a decade of structural reforms, unemployment rates have tripled in Argentina.
This paper is concerned with the measurement of unemployment risk and its distribution. We
show the importance of considering re-incidence in the measurement of unemployment ...
[CITATION] 1Thanks to Alejandro Rodriguez, Patricia Goldszier, Nicolas Arregui and Rodolfo Campos for excellent research assistance, and to Rodolfo Manuelli and …
HA Hopenhayn…
D Acemoglu, F Alvarez, A Casella, VV Chari… - …, 1999 - Wiley Online Library
Requests for nomination forms as well as completed forms should be sent to: Professor Julie
P. Gordon, Secretary, The Econometric Society, Department of Economics, Northwestern
University, Evanston, Illinois 60208-2600. Members or Fellows supplying completed ...
[CITATION] Job Dynamics, Correlated Shocks and Wage Pro les
A Cabrales… - 1998
[CITATION] Essays on the theory of industry dynamics
HA Hopenhayn - 1989 - University of Minnesota
HA Hopenhayn… - 1995 - bvrie.gub.uy
Page 1. DESIGNING UNEMPLOYMENT INSURANCE POLICIES The Argentinean
Case Hugo A. Hopenhayn University of Rochester and Universität Pompeu Fabra Juan
Pablo Nicolini1 Universidad Torcuato Di Telia and Universität ...
JC Hatchondo… - 2005 Meeting Papers, 2005 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. In case of further problems read the IDEAS help page. Note that these files are
not on the IDEAS site. Please be patient as the files may be large.
D Acemoglu, F Alvarez, A Casella, VV Chari… - …, 1999 - Wiley Online Library
The program will include invited lectures and both invited and contributed papers. For
additional information and updated information about the meetings, see announcements in
subsequent issues of Econometrica or on the Internet at the following address: http: rrwww ...
A Cabrales… - Economics Letters, 1997 - Elsevier
We study the effect of downward wage rigidity in a dynamic model when wages are
negotiated according to Nash bargaining. Downward rigidity causes a decrease in the
worker's expected utility. For the firms the effect is ambiguous.
[CITATION] On Stationary Distributions for Dynamic Economies
HA Hopenhayn… - 1990 - Graduate School of Business, …
[CITATION] Preliminary and Incomplete
HA Hopenhayn…
Abstract: When innovations are heterogeneous, it may be advantageous to provide a variety
of patents. By trading off patent breadth for length, it is possible that fees are not needed in
the optimal policy. We present two examples. The first is a quality-ladder model, in which ...
[CITATION] Trading favors: optimal exchange and forgiveness. Dynamic Partnership and exchange. Asynchronous dynamic barter. Dynamic barter, bargaining and …
C Hauser… - 2004
A Neumeyer… - Econometric Society 2004 Latin …, 2004 - ideas.repec.org
Most Latin American countries experienced their last peak in output per capita relative to the
United States’ between 1971 and 1982. Prior to this peak per capita output was rapidly
catching up to the developed world. Twenty years after the peak the average country’ ...
PA Neumeyer… - Department of Economics Working …, 2002 - ideas.repec.org
In the period 1974-1990 Argentina's income per capita fell by 25%. A Solow growth
decomposition shows that at most one quarter of this fall can be explained by a reduction in
the capital/labor ratio. A study of labor reallocation shows that between 1973 and 1993 ...
[CITATION] Risk Taking by Entrepreneurs
G Vereshchagina… - American Economic Review, 2010
H Hopenhayn… - 2006 - editorialexpress.com
Abstract We model the optimal financing of a firm with limited commitment. Entrepreneurs
need outside funding for projects, but can default at any moment and take some outside
opportunity. The value of this opportunity is random and not observable by the lender. We ...
[CITATION] 2001 Latin American Meeting of the Econometric Society (2001, Vol. 29, No. 5.)
H Ahumada, F Alvarez, A Araujo, M Blejer, G Calvo…
[CITATION] Ocupaciones e ingresos en el mercado de trabajo de la capital federal y Gran Buenos Aires
HA Hopenhayn - 1982 - Fundación de Investigaciones …
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