This paper shows how to cope with a problem of model selection and simplification using the principle of coherence (Gabriel (1969): A procedure involving testing a set of models ought not accept a model while rejecting a more general model). The mathematical lattice theory is used to define a...

Although semiparametric alternatives are available, parametric binary choice models are widely used in practice, in spite of their sensitivity to misspecification. Here we present the results of a simulation study on the finite sample performance of parametric and semiparametric specification...

This paper investigates the time between transactions on financial markets. It is assumed that the interval between transactions is a random variable and the relationship between the probability to observe a transaction at each instant of time and the type of the previous trade is investigated....

This publication is a non-technical report prepared for Polish Ministry of Economy and Labor. The main goal is to present a comprehensive statistical and econometric analysis of employment, unemployment and participation in Poland in the period 1998-2004 and confront Polish experiences with...

El estudio de las preferencias es uno de los temas menos tratados por la econometría aplicada. En el presente artículo se pretende realizar una aproximación translogarítimica de las preferencias por medio de la construcción de un Índice de Satisfacción de los Hogares (ISH) con base al...

This paper suggests that skill accumulation through past work experience, or ``learning-by-doing'' (LBD), can provide an important propagation mechanism in a dynamic stochastic general equilibrium model, as the current labor supply affects future productivity. Our econometric analysis uses a...

We investigate the role of labor-supply shifts in economic fluctuations. A new VAR identification scheme for labor supply shocks is proposed. According to our VAR analysis of post-war U.S. data, labor-supply shifts account for about half the variation in hours and one-fifth of variation in...

CAPITAL ACCUMULATION HAS BEEN EMPHASISED AS THE MAJOR FACTOR GOVERING THE RATE OF DEVELOPMENT. THIS STUDY THEREFORE AIMS EXPLORING IN THE LIGHT OF PAST TRENDS, THE ROLE AND SCOPE OF COMMERCIAL BANKS AS FINANCIAL INTERMEDIARIES IN MOBILIZING DOMESTIC SAVINGS FOR DEVELOPMENT AND THE CONSTRAINTS IN...

Through the use of aggregate Social Accounting Matrices for Portugal, the flows of funds from three government subsectors to households will be studied, as well as the flows from the latter to the former. From the SAM modelling, both a static and a comparative static analysis will be made, in...