We conduct a Monte Carlo study of the global regularity properties of the Normalized Quadratic model. We particularly investigate monotonicity violations, as well as the performance of methods of locally and globally imposing curvature. We find that monotonicity violations are especially likely...

This paper aims at analyzing fuel consumption in households of forest zones, and showed fuelwood’s place as energy source in the region. The study is carried out in Cameroon and it is based on a survey done in 1996. A sample of 400 household from Yaounde, Mbalmayo and Ebolowa was used. The...

We consider a situation where the relatively ‘poor’ are concerned about their relative income status with respect to a relevant reference group. Such a concern is explicitly introduced in a utility function to study the consumption and saving behavior of the poor in terms of a static and...

In this paper, we present a model that can be viewed as an extension of the traditional Tobit model. As opposed to that specific model, ours also accounts for the the fixed costs of car ownership. That extension is needed since being carless is an option for many households in societies that...

The purpose of this paper is to reveal the short run and long run dynamics of residential electricity consumption for 11 OECD countries within annual period 1979-2006. To this end, this paper first explores the findings from related literature evidence and, later, follows panel cointegration...

This study sheds new light on the question of whether or not sentiment surveys, and the expectations derived from them, are relevant to forecasting economic growth and stock returns, and whether they contain information that is orthogonal to macroeconomic and financial data. I examine 16...

We use Monte Carlo simulations to assess the ability of the Rotterdam model and the three versions of the almost ideal demand system (AIDS) to recover the time-varying elasticities of a true demand system and to satisfy theoretical regularity. We find that the Rotterdam model performs better at...

This study sheds new light on the question of whether or not sentiment surveys, and the expectations derived from them, are relevant to forecasting economic growth and stock returns, and whether they contain information that is orthogonal to macroeconomic and financial data. I examine 16...

There has been a growing literature on empirical studies on status consciousness. Specifically, the predictions of signaling models and theory of subjective well-being are empirically tested and found to support status seeking behavior. Instead of relying on these established theoretical models...

The estimation of passenger car ownership is a crucial estimation for auto-related production and for the analysis of many transportation-related policies such as Green House Gas (GHG), emissions, and energy consumption policies. Previous studies of car ownership estimation have generally...