Given the assumption that the components of a vector time series are stationary about nonlinear deterministic time trends, nonlinear co-trending is the phenomenon that one or more linear combinations of the time series are stationary about a linear trend, hence the series have common nonlinear...

In this paper we propose consistent cointegration tests, and estimators of a basis of the space of cointegrating vectors, that do not need specification of the data-generating process, apart from some mild regularity conditions, or estimation of structural and/or nuisance parameters. This...

In this paper we study further the asymptotic power properties of the integrated conditional moment (ICM) test of Bierens (1982) and Bierens and Ploberger (1994). First, we establish the relation between consistency against global alternatives and nontrivial local power, using the concept of...

This paper aims to trace the consequences of various global scenarios for the transportation system and the environment. After a review and the identification of four new world scenario's, the implications for sustainable transport are mapped out. The methodology is illustrated by means of a...

We examine the effect of information asymmetry on equity prices in the local A- and foreign Bshare market in China. We construct measures of information asymmetry based on market microstructure models, and find that they explain a significant portion of cross-sectional variation in B-share...

This paper studies worker displacement in the Netherlands. We discuss the relevant institutions, and we analyze the incidence and consequences of displacement. In the next stage of the project this paper will be merged with the corresponding paper on the US.

The paper takes for granted that urban areas - and hence the built environ­ment - may play a catalytic role for effective environmental policy. This position is based on the fact that most residential, production and transportation activities in the developed world take place in urban areas. A...