The parameters of a stochastic production frontier and the determinants of X inefficiency are estimated simultaneously using a maximum likelihood estimator proposed by Battese and Coelli (1995). Our results indicate that additional instructional and noninstruction expenditures improve student...

The likelihood of extreme daily changes in London Interbank Offer rates are estimated using the peaks-over-threshold method developed from extreme value theory. Value at risk and expected shortfall for high quantiles are produced for the left and right tails of the distributions for each...

We examine the effect of managerial compensation and ownership on the use of foreign-exchange derivatives by U.S. bank holding companies. We focus on derivatives used for purposes other than trading to investigate derivative use in a hedging framework. We use instrumental variables probit and...

Computable general equilibrium (CGE) models are often criticized for using restrictive functional forms and relying on external sources for parameter values in their calibration. CGE modelers argue that in many instances reliable econometric estimates of important model parameters are...

This article examines the role of remittances in income diversification strategies in Bolivia's rural sector. Remittances can be consumed or invested by the recipient. As an investment, funds can be used for farming or to finance other nonfarm productions. In this article, we use a large and...