This paper studies semiparametric identification of substitution patterns between two goods using a panel multinomial choice model with bundles. My model allows the two goods to be either substitutes or complements and admits heterogeneous complementarity through observed characteristics. I...

Existing studies that evaluate the impact of pollution on human beings understate its negative effect on cognition, mental health, and happiness. This paper attempts to fill in the gap via investigating the impact of air quality on subjective well-being using China as an example. By matching a...

The renewed momentum in the German housing market has led to concerns that Germany is vulnerable to asset price shocks. In this paper, we apply recently developed recursive unit root tests to detect the beginning and the end of potential speculative bubbles in Germany over the sample period...