This thesis covers the further development of smooth transition regression models and their applications in finance. Smooth transition regression models are used to model nonlinearity of regime-switching type in empirical applications. Usually, smooth transition regression models are used with...

The thesis contains three essays in the field of environmental policy. In the first paper, we study the relationship between the agri-environmental payments for farmers and wildlife. The effects of EU agri-environmental programs (AEPs) on the environment have been mixed. Spending on AEPs has...