Evaluation of Financial Liberalization

Evaluation of Financial Liberalization

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... to the decision problem of an entrepreneur facing wage w, we recall that the labor hire decision given by equation (7) is a linear function ... The multiplicity of local maxima may be due to the computational methods available rather than the non-concavity of the ... See also the experience of Paulson and Townsend16 ( 2001) with LEB and other structural models. ... we used the MATLAB routine fmincon starting from a variety of predetermined guesses I6See their technical appendix foranbsp;...

Title:Evaluation of Financial Liberalization
Author:Robert Townsend, Xavier Gine
Publisher:World Bank Publications - 2003


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