In this paper we discuss statistical inference associated with the theoretical model developed in Part I. Specifically, we demonstrate how the relationship between the distribution of prices and unit values can be exploited to estimate some of the structural parameters. These estimates are...

In Eastern Africa, the experience of Machakos has been heavily debated between Malthusians and the more optimistic Boserupians. Machakos was the epitome of overpopulation and resource degradation in the 1950s, but has since thrived. The Boserupians view Machakos as an illustration of how...

This paper describes a way of constructing an ECM algorithm such that it converges at the rate of the EM algorithm. The approach is motivated by the well known conjugate directions algorithm, and a special case of it is when the parameters corresponding to different CM steps are orthogonal....

Microsimulation models of the LOTTE system are key tools for tax policy-making in Norway and are extensively used in the budget process. The aim of this paper is to give an overview of the different modules in the LOTTE family - a non-behavioral tax-benefit model for personal income tax...

Population projections are predominantly made using the cohort-component method (CCM). The opportunities for further development within that framework are limited. Lately, with advances in technical and computational capacity, the microsimulation framework has become a serious contender. In...

Abatement can be performed by measures that have an impact on present emissions, but no lasting effect, and by long-lived infrastructure investments. We study the optimal combination of short and long-lived options for reducing greenhouse gas (GHG) emissions, by specifying abatement cost...

In this paper we study Binomial Models with random time steps. We explain, how calculating values for European and American Call and Put options is straightforward for the Random-Time Binomial Model. We present the conditions to ensure weak-convergence to the Black-Scholes setup and convergence...

The environmental remediation required to permanently decommission most industrial projects is an expensive and irreversible investment. Real options literature shows that temporarily closing a project and postponing decommissioning has value when economic conditions are uncertain and future...

This paper examines positive externalities and complementarities between countries in the use of antiviral pharmaceuticals to mitigate pandemic influenza. It demonstrates the presence of treatment externalities in simple SIR (susceptible-infectious-recovered) models and simulations of a Global...

In this paper, we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance...