Applied work often studies the effect of a binary variable (“treatment”) using linear models with additive effects. I … study the interpretation of the OLS estimands in such models when treatment effects are heterogeneous. I show that the …

as growth models have been different. The major objective of this paper is to compare the policies, institutions … terms of trends and patterns of growth and development, economic models, sources and drivers of growth; achievements …

in energy markets, and test for this using standard correlation measures and recently proposed adjusted correlation, co …-skewness, and co-volatility contagion tests. Our analysis is applied to the oil-exchange rate and oil-stock market relationships of … contemporary global financial crash. Energy contagion analysis is essential to financial stability analysis in economies where …

for a sample of emerging markets. Our period of analysis includes periods of severe stress, such as the Global Financial … Crisis, the COVID-19 pandemic and the Ukrainian War. Using the most recent developments in local Gaussian partial correlation … analysis and the associated nonlinear Granger causality tests, we are able to uncover linkages between assets across different …

qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed …Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or …-form solutions. Closed-form solutions are known for a large class of models some of which, however, have some undesirable features …