This paper presents a regression procedure for inhomogeneous data characterized by varying variance, skewness and kurtosis or by an unequal amount of data over the estimation domain. The concept is based first on the estimation of the densities of an observed variable for given values of...

Betting markets are efficient if expected payouts on all possible bets on an event are equal. We compare two regression-based methods for testing for efficiency that have been used in previous research: One that uses normalized probabilities as the explanatory variable for payouts and one that...

There is a growing body of literature on the possible presence of the Natural Resources Curse (NRC) and Dutch Disease Syndrome (DD) in the Azerbaijani economy. Because of its abundant hydrocarbon resources, Azerbaijan has pursued an oil-oriented strategy for economic growth and development....