The existence of equilibrium is a test of the internal consistency of an economic model. In any model with domestic moneys and dividend-yielding assets, the first question is: will money be dominated by assets in equilibrium? In cash-in-advance models domestic moneys always have positive...

My dissertation research is composed of two parts: a theoretical part on semiparametric efficient estimation and an applied part in energy economics under different dynamic settings. The essays are related in terms of their applications as well as the way in which models are constructed and...

The simple market efficiency hypothesis implies that prediction errors, such as forward less spot exchange rates, will be orthogonal to elements of the information set. One can therefore test for market efficiency via ordinary least squares by regressing the prediction errors on pieces of...

Chapter one provides a new estimator for the ordered polychotomous model. The estimator is based on the use of the average of the standard normal densities with different means as a parametric approximation to the density of the error term. The method also, for the first time, provides a...

This study addresses the impact of Mexican illegal immigration on the U.S. labor market. It constitutes a first step towards developing rigorous structural econometric models that empirically analyze undocumented labor force dynamics. Structural estimation of the labor supply and the...

This dissertation develops efficient semiparametric estimation of parameters and expectations in dynamic nonlinear systems and analyzes the role of environmental factors in productivity growth accounting.The first essay considers the estimation of a general class of dynamic nonlinear systems....