Vassar College Digital Library

Institutional Repository

Vassar College's institutional repository reflects the research and scholarly output of the Vassar College community.  It provides access to many collections, including a variety of senior theses and projects from disciplines ranging from American Culture to Urban Studies. 

In early 2022 Vassar College Libraries moved the institutional repository from Digital Window to the Vassar College Digital Library. This new method of access is a work in progress and will be officially launched in June 2022. The original Digital Window will remain accessible through July 1, 2022. 

A classroom experiment on exchange rate determination with purchasing power parity

Publication Date
2007-February-01
Document Type
Department or Program
Abstract

We develop a classroom experiment on exchange rate determination appropriate for undergraduate courses in macroeconomics and international economics. Students represent citizens from different countries and need to obtain currency to purchase goods. By participating in a sealed bid auction to...

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Convergence among the U.S. states: Absolute, conditional, or club?

Publication Date
2003-October-01
Document Type
Department or Program
Abstract

This paper attempts to ascertain which of the convergence hypotheses – absolute, conditional, or club – best describes the economic development of the U.S. states since 1950. We use regression tree analysis to identify convergence clubs among the states and...

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Did the colonial powers pick the economic winners?

Publication Date
2007-September-01
Document Type
Authors
Department or Program
Abstract

This paper proposes a new instrument for institutional quality—the salary of colonial governors—to investigate whether variations in the quality of British colonial rule continue to have an impact on the economic performance of former colonies. Governors' salaries provide a good...

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Limited arbitrage, segmentation, and investor heterogeneity: Why the law of one price so often fails

Publication Date
2003-August-28
Document Type
Authors
Department or Program
Abstract

There are numerous examples of assets with identical payout streams being priced differently. These violations of the law of one price result from two factors. First, investors have heterogeneous asset valuations so that if two groups of investors trade in...

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Limited arbitrage, segmentation, and investor heterogeneity: Why the law of one price so often fails

Publication Date
2003-August-28
Document Type
Department or Program
Abstract

There are numerous examples of assets with identical payout streams being priced differently. These violations of the law of one price result from two factors. First, investors have heterogeneous asset valuations so that if two groups of investors trade in...

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Stabilizing the international financial system and financing development: an analysis of the Tobin tax

Publication Date
2007-December-01
Document Type
Authors
Department or Program
Abstract

This paper analyzes the feasibility of an international tax on currency transaction, also known as "Tobin Tax", from an economic and juridical point of view. The claim that such a tax would curb short term speculators, thus stabilizing the foreign...

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Stabilizing the international financial system and financing development: an analysis of the Tobin tax

Publication Date
2007-December-01
Document Type
Authors
Department or Program
Abstract

This paper analyzes the feasibility of an international tax on currency transaction, also known as "Tobin Tax", from an economic and juridical point of view. The claim that such a tax would curb short term speculators, thus stabilizing the foreign...

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The option value of patent litigation: Theory and evidence

Publication Date
2003-December-01
Document Type
Authors
Department or Program
Abstract

In this paper I present a real options model of patent litigation when patents are not perfectly enforceable. I consider both finite horizon and infinite horizon models. The theoretical results demonstrate that patent value depends not only on the underlying...

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The portfolio allocation effects of investor sentiment about the ability of managers to beat the market

Publication Date
2003-February-03
Document Type
Department or Program
Abstract

I present a model that can transform discounts on closed-end mutual funds into a measure of investor sentiment about the ability of fund managers to beat the market. This measure of sentiment varies positively with capital flows into actively managed...

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