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The use of Markov processes (or Markov chains) has become widespread in dynamic stochastic modeling. For example, its use is ubiquitous in macroeconomics (dynamic stochastic general equilibrium), finance (dynamic asset pricing), and areas of microeconomics (dynamic programming). As we discuss...
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This paper demonstrates how satellite images and other geographic data can be used to predict land use. A cross-section model of land use is estimated with data for a region in central Mexico. Parameters from the model are used to examine the effects of reduced human activity. If variables that...
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especially the drought phenomena have become frequent in Africa. This has prompted water engineers and hydrologists to formulate … mitigation and adaptation measures to address these challenges. The frequency of drought event of a defined severity for a …. This paper presents an analysis of the hydrological drought frequency for the upper Tana River basin in Kenya using the …
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