We analyze the structural determinants of two widely used measures of price discovery between multiple markets that trade closely-related securities. Using a structural cointegration model, we show that both the information share (IS) and component share (CS) measures account for the relative...

The demand for environmental quality is often presumed to be low in developing countries due to poverty. Less attention has been paid to the possibility that lack of awareness about the adverse health effects of environmental pollution could also keep the demand low. We use a household survey...

Several recent papers conclude that US real GDP is trend stationary, implying that all shocks are transitory and the long run path is deterministic.