work on US data, using threshold regression models, provides new evidence that an expansionary government spending is more …

We introduce continuous-time models that capture the salient features of the short-term interest rate and remain … dynamics that explain the inadequate performance of nested models. Finally, we explore the bond pricing implications and … the stochastic volatility factor from accommodating outlier behavior. Our three-factor jump-diffusion models pass the …

actual high frequency data suggests that the proposed models are sufficiently flexible to capture a number of salient …

Brownian functional) models. The insensitivity and efficiency of WLS in finite samples are examined through Monte Carlo …

asymptotically Brownian functional) models. The insensitivity and efficiency of WLS in finite samples are examined through Monte …

examine regime switching models that recognize different economic regimes and find that this dramatically improves the model …

autoregressive models. We suggest a likelihood ratio test for over-identification in a sub-system and derive the asymptotics for … impulse responses and forecast-error variance decomposition for partially identified models. As an application, we consider an …

This paper explores the role of life expectancy as a determinant of educational attainment and fertility, both during … less and better educated children, and increases the growth rate of the economy. Reductions in child mortality may have … similar effects -- or may only affect fertility -- depending on the nature of the costs of raising children. This setup can …

a number of theoretical models on the interaction of fertility and human capital investments in growth. It provides …) and Soares (2002)) linking human capital investment and fertility in models of economic growth and demographic transitions …This study contains evidence on the importance of chronic disease burden on human-capital and fertility decisions in …