To overcome the curse of dimensionality, dimension reduction is important andnecessary for understanding the underlying phenomena in a variety of fields.Dimension reduction is the transformation of high-dimensional data into ameaningful representation in the low-dimensional space. It can be...

This paper extends the VECM cointegration model and PT (permanent-transitory) variance decomposition framework proposed by Lettau amp; Ludvigson (2004) and applies them on the Swedish data spanning from 1980q1 to 2004q4. There are strong statistical evidences that the movements of aggregate...

This paper analyses the dynamics of the duration of housing allowance claims in Sweden during the period 1991 to 2002. The central concern in this paper is whether the Swedish housing allowance system creates dependence on welfare. Using longitudinal data from Swedish micro database-LINDA, this...

This paper investigates whether housing allowance affects recipients' tenure choice in Sweden. To answer this question, a two-stage conditional maximum likelihood probit (2SCMLP) model is applied in a panel data setting to simultaneously control for individual heterogeneity, state dependence and...

Prior studies find that earnings management around seasoned equity offerings is negatively related to subsequent stock performance and attribute the finding to the issuing firms' use of inflated earnings to boost stock prices. We show in this paper that earnings management is not significantly...

Different water agencies use different modeling tools for water resources planning and management. For example, different jurisdictions in Australia use a variety of river system models and these models vary considerably in approach and assumptions, including different time steps (monthly and...

Coastal roads are lifelines for bringing emergency personnel and equipment into affected areas after tsunamis, thus careful thought should be given to how to make roadways safer from tsunamis. Scouring at roadways is the primary damage caused by tsunamis; however, tsunami-induced scouring and...

How the duration of housing allowance spells varies with the generosity of the housing allowance system carries important policy implications. In 1997, the Swedish housing allowance system implemented a drastic reform which substantially affected claimants who were couples with children in terms...