Labels certify that a product meets some standard for quality, but often consumers are unsure of the exact standard that the label represents. Focusing on the case of ecolabels for environmental quality, we show how even small amounts of uncertainty can create consumer confusion that reduces or...

Purpose – The purpose of this paper is to study whether exporting firms outperform non-exporting firms along a number of performance characteristics. It also examines whether the differences in performance characteristics are due to the self-selection of better firms into exporting or because...

We present a novel methodology for spatially sensitive prediction of outdoor recreation visits and values for different ecosystems. Data on outset and destination characteristics and locations are combined with survey information from over 40,000 households to yield a trip generation function...

This paper compares the GMM and measured expectations in estimating the conventional New Keynesian macro model for the Euro area and the United States. The use of measured expectations strongly reduces the importance of lagged output and inflation terms.

The productivity of public capital has been very popular research topic for US and other OECD countries, while studies using data from transitional countries are almost non-existent. In this paper, we analyze the productivity of public and private capital in Russia with parametric and...

This book provides a description of the main macroeconomic models used by the European Central Bank and the euro area national central banks (Eurosystem). These models are used to help prepare economic projections and scenario analysis for individual countries and the euro area as a whole.

Efficiency estimations which do not account for the operational environment where production units are operating in may have only a limited value. This article presents a fully nonparametric framework to estimate relative performance of production units when accounting for continuous and...