This paper examines power issues for the ADF and four break models (Perron 1989, Zivot and Andrews 1992) when the DGP corresponds to one of the break models. Choosing to test an incorrect break model can but need not greatly reduce the probability of rejecting the null. Break points that are...

If the researcher tests each model in a battery at the a % significance level, the probability that at least one test rejects is generally larger than a %. For five unit-root models, this paper uses Monte Carlo simulation and the inclusion-exclusion principle to show for a %=5% for each test,...

This paper presents unit-root test results for real exchange rates in ten Central and Eastern European transition countries during 1993:01-2003:12. Because of the shift from controlled to market economies and the accompanying crises, failed policy regimes and changes in exchange rate regimes,...

There is a danger that the CDM will fail to live up to its goals, namely reduction of greenhouse gas emissions and enhanced sustainable development. Sustainability labeling is a promising strategy to hedge against such failures. Labels could also serve as a business risk-hedging tool. The...

We present a statistical model of agrarian vineyard specialization in the province of Barcelona towards 1860, that combines the Boserupian push of population increase, the demand pull of a Smithian-type of growth (measured by the time-distances to the nearest seaport), and the agrological lands...

The government of Zimbabwe launched the Fast Track Land Reform Programme (FTLRP) in 2000 as part of its ongoing land reform and resettlement programme aimed at addressing a racially skewed land distribution. Its goal has been to accelerate both land acquisition and redistribution, targeting at...

Many countries that produce rough diamond have experienced a highly adverse pattern of economic development. In this article, we propose that the primary reason for the negative impact is that diamonds easily become the prize in predatory struggles between loot-seeking rebels and more or less...

There is an evident dichotomy in many rural development policies in the world between extension driven adoption of modern inputs and community driven local public goods. However, the target populations of these policies seldom have the possibility to express their preference between these two...

Both technological and natural resource possibilities seem to evolve in cycles. The “Resource Opportunity Model” in this paper introduces the technological opportunity thinking into natural resource modeling. The natural resource industries’ choice between incremental, complementary...

This paper is an application of the contingent valuation method on community plantations in the highlands of Ethiopia. A discrete-continuous elicitation format was applied. It was found that there is a problem in applying a closed ended elicitation format in this context with a community...