Kevin T. Reilly

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Abstract: We present new tests of three theories of the labor market: intertemporal substitution, hours restrictions, and implicit contracts. The intertemporal substitution test we implement is an exclusion test robust to many specification errors and we consistently reject this model. We model hours restrictions as part of an endogenous switching model. We(More)
To: Using Micro Data to Estimate the Intertemporal Substitution Elasticity for Labor Supply in an Implicit Contract Model Economists have devoted substantial resources to estimating the intertemporal substitution elasticity for labor supply because this elasticity plays a crucial role in the real business cycle literature. Generally, the estimates of the(More)
The hypothesis that handedness stems from a greater ability to produce independent forces in the digits of the preferred than the non-preferred hand was investigated in 20 right-handed males who made a sustained isometric flexion of the distal phalanx of a single digit (the instructed digit). Instructed flexion forces were accompanied by non-instructed(More)
The effects of acoustic stimuli whose onsets and durations were controlled to vary their transient and sustained features on the size of a subsequently elicited blink reflex were examined in humans. Prestimuli both with and without transient features inhibited the reflex when they preceded the eliciting stimulus by brief lead intervals, showing that(More)
In the tradition of Raymond Vernon’s work, this paper examines the effect of regional economic integration on the foreign direct investment (FDI) decision of US multinationals in Canada. We present improvements to the modelling of the labor and foreign exchange markets. In particular, we move beyond the traditional use of manufacturing wages and introduce(More)
Economists have devoted substantial resources to estimating the intertemporal substitution elasticity for labor supply because this elasticity plays a crucial role in the real business cycle (RBC) literature. Generally, the estimates of the elasticity from a standard (separable within-period and over-time) intertemporal labor supply function have been too(More)
This paper studies financial contracting in a two-period financing model with double moral hazard, as entrepreneurial effort choices and profits are unobservable and nonverifiable. The optimal financial contract must induce both the high effort level and truthful revelation of profits. The paper further analyses the structure of the optimal contract where(More)
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