In Leachman et al. (2005) we use the multicointegration approach to test for sustainable fiscal budgeting processes in a stochastic setting in 15 industrialized countries. In this paper, we extend the analysis in order to rank these same countries as well as an additional three, according to the...

In this paper, we consider identification and estimation of average marginal effects in a correlated random coefficients model without imposing strong functional form assumptions on the structural likelihood or the mixing distribution. Identification is achieved through imposing that the mixing...

We consider the behavior of an incumbent that can deploy local public goods and private goods to buy votes, and is unable to verify vote choice but capable of monitoring voter turnout, a common scenario in secret-ballot polities. As advanced by recent literature, the ability to monitor turnout...

This paper uses cointegration and multicointegration analysis to explore the issue of twin deficits for the USA in the post-World War II period. The results suggest that prior to 1974 the systems of fiscal and foreign sector variables exhibit multicointegration. These results do not rule out...