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PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by...

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PIER Working Paper 99-003 Cigarette Money by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research Department of Economics University of Pennsylvania 3718 Locust Walk Philadelphia, PA 19103-6297 [email protected] http://www.econ.upenn.edu/pier

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Page 1: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

PIER Working Paper 99-003

�Cigarette Money�

by

Kenneth Burdett, Alberto Trejos and Randall Wright

Penn Institute for Economic ResearchDepartment of EconomicsUniversity of Pennsylvania

3718 Locust WalkPhiladelphia, PA 19103-6297

[email protected]://www.econ.upenn.edu/pier

Page 2: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

Page 3: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

Page 4: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

Page 5: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

Page 6: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

Page 7: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

Page 8: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

Page 9: PIER Working Paper 99-003 · 2020. 2. 26. · PIER Working Paper 99-003 ﬁCigarette Moneyﬂ by Kenneth Burdett, Alberto Trejos and Randall Wright Penn Institute for Economic Research

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