The specification of parameters is a crucial task in the development of economic models. The objective of this paper is to improve the standard parameter specification of computable general equilibrium (CGE) models. On that account, we illustrate how Optimal Fingerprint Detection Methods (OFDM)...

This paper shows how particle filtering allows us to undertake likelihood-based inference in dynamic macroeconomic models. The models can be nonlinear and/or non-normal. We describe how to use the output from the particle filter to estimate the structural parameters of the model, those...

This article proposes that is termed the ‘Tolerance-Autonomy Model' to explain Sino-DPRK relations by expanding prior theories on international relations between a hegemon and periphery states. According to the model, China will allow actions of the DPRK within the ‘boundary of tolerance' so...

Recent years have witnessed the rise of queue-scalping in congestion-prone service systems. A queue-scalper has no material interest in the primary service but proactively enters the queue in hopes of selling his spot later. This paper develops a queueing-game-theoretic model of queue-scalping...

Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact in the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between...

The iterated Bornhuetter-Ferguson loss reserving method generates an infinite sequence of reserve formulas, with the chain ladder and Bornhuetter-Ferguson formulas at opposite extremes. The sequence also contains the Benktander-Hovinen formula. Although the literature contains parametric...

The present paper proposes a customer–brand relationships model and empirically tests the following: (1) brand–self distance and brand prominence as representing customers' attachment–aversion relationships (AA Relationships) with a brand, (2) key distinguishing differences between the AA...

This study focuses on the menus typically found in the marketplace (e.g., restaurants and Internet vendors), where the consumer may choose one or more from dozens of options or menu items, each at a posted price or fee. We show that modeling choices out of the typical menu leads to the “curse...