This paper is the first attempt to estimate commercial banks’ efficiency in the Visegrad region before joining the EU and also to consider differences in efficiency across the countries. Employing Data Envelopment Analysis, we analyze which of the banking sectors is the most efficient and...

In this paper we consider the problem of making inference on a structural parameter in instrumental variables regression when the instruments are only weakly correlated with the endogenous explanatory variables. Adopting a local-to-zero assumption as in Staiger and Stock (1994) on the...

This paper proposes an algorithm to obtain maximum likelihood estimates of structural parameters in discrete games with multiple equilibria. The method combines a genetic algorithm (GA) with a pseudo maximum likelihood (PML) procedure. The GA searches efficiently over the huge space of possible...