Economists have traditionally relied on monthly or quarterly data supplied by central statistical agencies for macroeconomic monitoring. However, technological advances of the past several years have resulted in new high-frequency data sources that could potentially provide more accurate and...

While the efficiency of economic arrangements is the primary focus of economic research, we may ask whether the efficiency improvements that have been experienced in the developed economies have been accompanied by increased vulnerability of output to catastrophic events. In order to address...

Financial returns typically display heavy tails and some skewness, and conditional variance models with these features often outperform more limited models. The difference in performance may be especially important in estimating quantities that depend on tail features, including risk measures...