This study investigates the implications of firm's demand for real balances from the production and monetary economics perspective. Money is a component of production as a factor increasing efficiency in exchange in input markets. Firms may improve efficiency in production by holding real money...

The three essays of this thesis research model selection and estimation issues in financial econometrics. Special attention is given to comparing various approaches used previously in the literature and attempting to compare their out-of-sample performance. Chapter two explores the value of...

In its search for sustenance and cover, wildlife imposes costs on agricultural property owners. A mosaic of privateand public contractual arrangements has evolved to address this problem, with private agricultural organizations,county commissions, wildlife agencies and state and federal...

In stochastic volatility models, the unit root test on the time series of the unobserved log-volatilities may be performed by applying the commonly usedfrequentist unit root tests. For instance, augmented Dickey Fuller tests based on the log-squared meancorrected returns can be used. The...

The purpose of this research has been to look into several econometric issues of concern to researchers doing applied work in macroeconomics. The first essay looks at Bureau of Economic Analysis data on inventories and sales of finished goods often used in studies of inventory behavior. Applying...