Observational studies are widely used to evaluate the effect of treatment when it is not feasible to conduct controlled experiment. This article considers the use of parametric analyses for estimating the causal treatment effect. The proposed approach is an alternative to the widely used...

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...

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...

This paper investigates the existence and degree of variation across house holds and over time in the intertemporal elasticity of substitution (IES) and the coefficient of relative risk aversion (RRA) that is generated by habit forming preferences. To do so, we develop a new nonlinear GMM...

We estimate the long-run discount factor for a group of developed and developing countries through standard methodology incorporating adaptive expectations of inflation. We find that the discount factor of developing countries is relatively nearer to unity as compared to that of the developed...

In this paper we investigate empirically the relationship between population aging begins in Morocco and private savings. To do this, we use an overlapping generations model (OLG) and annual data from 1980 to 2010. Econometric estimates show that if the increase in the dependency ratio...

Twin births are often used as an instrument for fertility in models investigating the impact of family size on labour market and child outcomes. However, a large share of twin births (24% in our sample) are the result of fertility treatments, potentially causing twin births to be endogenous and...

Nowadays, when companies are dealing with severe global competition, they are making serious investments in Customer Relationship Management (CRM) strategies. One of the cornerstones in CRM is customer churn prediction, the practice of determining a mathematical relation between customer...

In this study we investigate using the mean reversion processes in financial risk management, as they provide an good description of stock price uctuations and market risks. This paper does not aim at being exhaustive, but gives examples for practically implementable models allowing for stylised...

The debate over the economic effects of military spending continues to develop, with no consensus, but a deepening understanding of the issues and limitations of previous work. A recent survey has suggested that the inclusion of post Cold War data has tended to make finding a negative effect...