A large part of the recent literature on program evaluation has focused on estimation of theaverage effect of the treatment under assumptions of unconfoundedness or ignorability following the seminal work by Rubin (1974) and Rosenbaum and Rubin (1983). In many cases however, researchers are...

The dissertation is focused on studying the behavior of aggregate asset market and its relationship to real economic activity. Chapter 1 offers a new empirical perspective on the relationship between the conditional mean and volatility of stock returns. Chapter 2 builds a general equilibrium...