This paper provides a comprehensive Monte Carlo comparison of different finite-sample biascorrection methods for autoregressive processes. We consider situations where the process is either mildly explosive or has a unit root. The case of highly persistent stationary is also studied. We compare...

We use a compound option-based structural credit risk model to infer a term structure of banking crisis risk from market data on bank stocks in daily frequency. Considering debt service payments with different maturities this term structure assigns a separate estimator for short- and long-term...

This paper studies the role of conditioning political factors for determining the impact of banking crises on sovereign bond yield spreads for a sample of 33 emerging economies in the period 1995-2010. Accounting for the endogenous nature of banking crisis outbreaks, I find that sovereign bond...

The run-up to the Greek default featured marked increases in the cost of insuring sovereign debt from almost all European countries. One explanation is that market participants believed a default in one country might increase the risk of a future default in another, and so news about one country...

This paper identifies the effect of neighborhood peer groups on childhood skill acquisition using observational data. We incorporate spatial peer interaction, defined as a child's nearest geographical neighbors, into a production function of child cognitive development in Andhra Pradesh, India....

Mobile telecommunications markets have been studied primarily from the perspectives of mobile telecom operators, market organization and regulators. However, there have been few studies from the perspective of the private consumer, which is the object of this research. This paper is part of an...

Models built on the classical quality-quantity trade-off predict an increase in child quality and a decrease in child quantity in poor developing countries when parental wealth and educational levels increase. This paper tests this prediction empirically in a cross-sectional framework with data...

In this paper incumbency effects in Federal Elections and Mayoral Elections in Germany are estimated using a quasi-experimental design which allows for causal inference under a set of rather mild assumptions. Relying on nonparametric and parametric estimation procedures and exploiting a recently...