For many low-income countries, the impact of structural reforms on economic growth and poverty alleviation crucially depends on the response of aggregate agricultural supply to changing incentives. Despite its policy relevance, the size of this parameter is still largely unknown. This paper...

This article proposes using an expanded form of the Johnson S family as a way to approximate nonnormal distributions in regression models. The distribution is one of the few that allows modeling heteroskedasticity and autocorrelation. The technique is evaluated with Monte Carlo simulation and...

In this paper we study the zero frequency spectral properties of fractionally cointegrated long memory processes and introduce a new frequency domain principal components estimator of the cointegration space and the factor loading matrix for the long memory factors. We find that for fractionally...