Standard economic theory predicts that if property rights to pollute are clearly established, equilibrium outcomes in an efficient emissions permit market will be independent of how the emissions permits are initially distributed. This so-called independence property has important implications...

A new information-based approach for estimating systems of many equations with nonnegativity constraints is presented. This approach, called generalized maximum entropy (GME), is more practical and efficient than traditional maximum-likelihood methods. The GME method is used to estimate an...

We use a nonlinear, nonparametric method to forecast unemployment rates. This method is an extension of the nearest-neighbor method but uses a higher-dimensional simplex approach. We compare these forecasts with several linear and nonlinear parametric methods based on the work of Montgomery et...

We employ a new method to estimate China's income distribution using publicly available interval summary statistics. We examine rural, urban, and overall income distributions from 1985 to 2001. We show how the distributions change directly, and we examine trends in inequality. Using an...