The paper evaluates the usefulness of a nonparametric approach to Bayesian inferece by presenting two applications. Our first application considers an educational choice problem. The second application is to quantile regression.

In this paper, we explore Bayesian inference in models with many instrumental variables that are potentially weakly correlated with the endogenous regressor. The prior distribution has a hierarchical (nested) structure.

Sata Envelopment Analysis (DEA) of efficiency is highly sensitive to the level of aggregation. Generally as the number of inputs and outputs increase, differences in measured relative efficiency across firms decrease. This paper advocates using the EKS index number formula to aggreagte inputs...

The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity....