Instrumental variables estimators typically must satisfy monotonicity conditions to be interpretable as capturing local average treatment effects. Building on previous research that suggests monotonicity is unlikely to hold in the context of school entrance age effects, we develop an approach...

Machine learning algorithms can find predictive signals that researchers fail to notice; yet they are notoriously hard-to-interpret. How can we extract theoretical insights from these black boxes? History provides a clue. Facing a similar problem - how to extract theoretical insights from their...

The purpose of this study is to evaluate the linkage between Environmental, Social, and Governance (ESG) ratings and the stock performance of the top 15 Indian companies with low-ESG-risk as well as the top 15 Indian companies with   high-ESG-risk. The existing literature on whether ESG leads to...

The propulsion of economic growth is a multifaceted construct, influenced by technology, capital, and resource management, with Small and Medium-sized Enterprises (SMEs) being a significant contributors to innovation and employment. This study examines the growth of Scottish SMEs across four...

We introduce the vector-valued t-Riesz distribution for time series models of electricity prices. The t-Riesz distribution extends the well-known Multivariate Student's t distribution by allowing for tail heterogeneity via a vector of degrees of freedom (DoF) parameters. The closed-form density...

Economic policies often involve dynamic interventions, where individuals receive repeated interventions over multiple periods. This dynamics makes past responses informative to predict future responses and ultimate outcomes depend on the history of interventions. Despite these phenomena,...