We conduct Monte Carlo simulations to investigate the effects of outlier observations on the properties of linearity tests against threshold autoregressive (TAR) processes. By considering different specifications and levels of persistence of the data generating processes, we find that outliers...

Since the start of the Eurozone, the pattern of debt ows to Peripheral Europe seems puzzling: they were mostly indirect and intermediated by the large countries of the euro area. This paper examines the euro currency risk and the business cycle risk as two opposing forces: while the currency...

This paper examines the impact of time averaging and interval sampling data assuming that the data generating process for a given series follows a random walk with uncorrelated increments. We provide expressions for the corresponding variances, and covariances, for both the levels and...

The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) of 2005 guarantees adult members of rural households to a minimum of 100 days of employment with certain provisions geared specically towards women. The phase wise rollout of the program allows us to employ a...

This study monetizes the life cycle environmental damage, human health risk, and resource depletion externalities associated with the production and use of biodiesel fuels from soybean feedstock. Utilizing an integrated economic-environmental assessment framework that couples life cycle impacts...

We develop a framework for modeling the technological, economic, environmental, and social impacts of the life cycle of seven transportation fuels (Corn, Stover, Switchgrass, Yellow Poplar, Newsprint and Municipal Solid Waste Ethanol Blends, as well as Gasoline), by linking engineering based...

This paper analyzes the effects of intrastate water reallocation on agricultural productivity. Specifically, I look at the 1976 Krishna Water Dispute Tribunal that reallocated the rights of three Indian states over the Krishna River. I exploit districttime variation in access to water to obtain...

This paper investigates the extent to which modern DSGE models, which feature local currency pricing, home bias, nontraded goods and incomplete markets, can generate nonlinear real exchange rate dynamics that are consistent with those found in the time series literature using data from the...

This paper presents a model consisting of a large number of students who differ by race and by the stock of human capital of their parents. Students choose effort levels in high school and college. College attendance is dependent on the student’s decision to attend college and the college’s...

This paper studies the cyclicality of portfolio flows under the presence of productivity growth rate shocks. Productivity growth rate shocks successfully replicate countercyclical net equity outflows and procyclical bond inflows for advanced countries, which couldn't be captured in a model with...