experiment allows us to identify important interactions between emission shocks, banking and enforcement. Preliminary results …

This paper studies the design of law-making and law enforcement institutions based on the premise that law is … inherently incomplete. Under incomplete law, law enforcement by courts may suffer from deterrence failure, defined as the … once others have initiated law enforcement procedures, while regulators enforce law proactively, i.e. on their own …

be eliminated. The size and power of this new test are examined. We find the size of this test to be accurate for several … time series models including the AR, GARCH and diffusion models. The power of this test is high in comparison to the …

power on data that includes breaks of opposite sign. We extend this test in two directions. First, we propose a new … mean or trend reversion. The simulation results show good power and satisfactory size of the new procedures. Using long … purchasing power parity from the application of unit root and structural change tests. We argue that the Bai and Perron test is …

operational empirically. Finally, the power and size distortions of this sequential test procedure are analysed with Monte …