This paper is concerned with Bayesian estimation and prediction in the context of start-up demonstration tests in which rejection of a unit is possible when a pre-specified number of failures is observed prior to obtaining the number of consecutive successes required for acceptance of the unit....

To gather data on sensitive characteristics, such as annual income, tax evasion, insurance fraud or students’ cheating behavior, direct questioning is problematic, because it often results in answer refusal or untruthful responses. For this reason, several randomized response (RR) and...

Estimation of liquidity costs in agricultural futures markets is challenging because bid-askspreads are usually not observed. Spread estimators that use transaction data are available,but little agreement exists on their relative accuracy and performance. We evaluate fourconventional and a...

A recent theoretical literature highlights the role of endogenous firm entry as an internal amplification mechanism of business cycle fluctuations. The amplification mechanism works through the competition and the variety effect. This paper tests the significance of this amplification mechanism,...

In this paper, we derive a small textbook New Keynesian DSGE model to evaluate Polish and Romanian business cycles during the 2003 - 2014 period. Given the similarities between the two economies, we use an identical calibration procedure for certain coefficients and marginal prior distributions...

We use a standard sticky-price model to provide evidence on three mechanisms that can reconcile somewhat frequent price changes with large and persistent real effects of monetary shocks. To that end, we estimate a semi-structural model for the U.S. economy that allows for varying degrees of real...