With representative agents maximizing their expected Xife time Utility, it can be shown under certain functional form assumptions that consumption follows a random walk and should be cointegrated across countries, because in an optimal risk pooling arrangement agents smooth consumptions with...

This note is concerned with estimating censored quantile regressions (CQR). As its major contribution, a' new algorithm, called BRCENS, is developed as an adaption of the Barrodale-Roberts algorithm for the standard quantile regression problem. In a subsequent simulation study, BRCENS performs...

The Box-Cox quantile regression model using the two stage method introduced by Chamberlain (1994) and Buchinsky (1995) provides an attractive extension of linear quantile regression techniques. However, a major numerical problem exists when implementing this method which has not been addressed...