There is a very large literature that examines the relationship between health and income. Two main hypotheses have been investigated: the relative income hypothesis and the absolute income hypothesis. Most of previous studies that used mortality data have been criticized for estimating an...

This paper develops a novel and efficient algorithm for Bayesian inference in inverse Gamma Stochastic Volatility models. It is shown that by conditioning on auxiliary variables, it is possible to sample all the volatilities jointly directly from their posterior conditional density, using simple...

This paper investigates the determinants of growth in the Asian developing economies. We use Bayesian model averaging (BMA) in the context of a dynamic panel data growth regression to overcome the uncertainty over the choice of control variables. In addition, we use a Bayesian algorithm to...

We estimate a household consumption function using two rounds of the nationally representative panel of living standard measurement survey (LSMS) of Nepal and simulate the impacts of remittance on poverty and inequality. We study how these impacts vary with the regional ‘incidence’ and...

Bayesian model averaging (BMA) has been successfully applied in the empirical growth literature as a way to overcome the sensitivity of results to different model specifications. In this paper, we develop a BMA technique to analyze models that differ in the set of instruments, exogeneity...

This paper applies a time-varying cointegration (TVC) model to study regional financial integration, measured by the drifting cointegration coefficient of the long-term interest rates between Singapore and Malaysia. Conditioned on long-run exchange rate equilibrium, the evolving relation can be...

Observed spatial wage disparities reflect not only disparities in regional productivity but also an uneven geographical distribution of heterogeneous worker skills. We measure spatial skill disparities in Japan and evaluate how migration contributes to these disparities. For this purpose, we...

This paper investigates the impact of training provided by a large-scale private farm on the performance of surrounding small-scale rice farmers in a rain-fed area in Tanzania. We found that the training effectively enhances the adoption of improved rice cultivation practices, paddy yield, and...

We generalize the formulae for welfare changes by Arkolakis, Costinot, and Rodríguez-Clare (2012) and Melitz and Redding (2014a) to allow for various cardinalizations of the subutility functions for varieties. Despite the same macro restrictions and the same equilibrium allocations, our new...

This paper shows how the social importance of heritage in Japan has grown, focusing on the evolution of the protection system. Heritage protection has been carried out, largely by the national government, for more than 150 years. Epochal events such as the modernization of the Meiji restoration...