We apply a recently proposed method to disentangle unobserved heterogeneity from risk in returns to education. We replicate the original study on US men and extend to US women, UK men and German men. Most original results are not robust. A college education cannot universally be considered an...

Increasingly, professional forecasters and academic researchers present model-based and subjective or judgment-based forecasts in economics which are accompanied by some measure of uncertainty. In its most complete form this measure is a probability density function for future values of the...

We introduce the vector-valued t-Riesz distribution for time series models of electricity prices. The t-Riesz distribution extends the well-known Multivariate Student's t distribution by allowing for tail heterogeneity via a vector of degrees of freedom (DoF) parameters. The closed-form density...

Participatory wealth rankings (PWRs) present an inclusive and inexpensive targeting method to identify poor households. They tend to be well received by participants but point to a systematically different understanding of welfare than implied by consumption-based rankings. This suggests that...

This paper uses cross-country micro-aggregated data on rm dynamics and productivity from the ECB CompNet database to provide empirical evidence on factor reallocation in the EU. The analysis finds that reallocation is towards more productive firms although the magnitude varies across countries...

State of the Union Addresses (SOUA) by two recent US Presidents, President Obama (2016) and President Trump (2018), and a series of recent of tweets by President Trump, are analysed by means of the data mining technique, sentiment analysis. The intention is to explore the contents and sentiments...

This article studies specific aspects of the joint replenishment problem in a realsupply chain setting. Particularly we analyze the effect on inventory performance of havingminimum order quantities for the different products in the joint order, given a complextransportation cost structure. The...

A novel simulation-based methodology is proposed to test the validity of a set of marginal time series models, where the dependence structure between the time series is taken "directly" from the observed data. The procedure is useful when one wants to summarize the test results for several time...