We use nonparametric methods to compute the environmental inefficiency of 100 countries over the period 1990-2017 on the macro-level. The inefficiency is expressed as the potential reduction of GHG emissions, holding economic output constant. Based on that, we estimate different trend functions...

Leading indicators are important variables in business cycle forecasting. We use wavelet analysis to investigate the lead-lag stability of German leading indicators in time-frequency space. This method permits a time-varying relation of the leading indicators to the reference cycle allowing...

Abstract The reduction of greenhouse gases is the key action to limit global warming. An important source of greenhouse gas emissions and pollution is the inefficiency of production processes. We report results from a stochastic nonparametric efficiency analysis using directional distance...

The paper considers a nonparametric approach to determine portfolio efficiency using specific directions toward the portfolio frontier function. This approach allows for a straightforward incorporation of higher moments of the returns distribution beyond mean and variance. The nonparametric...

This paper documents the results from a macroeconomic total factor productivity analysis with a special focus on disentangling efficiency change and technological change under variable returns to scale. A sample of 93 countries is investigated by nonparametric methods. For the measurement three...

The stability of Okun's Law mostly has been investigated over time. In this paper, we apply wavelet analysis to dissect the relationship between GDP growth and changes in the unemployment rate by time and frequency. The results show that coherence of GDP growth and changes in the unemployment...