Although the theoretical trade-off between the quantity and quality of children is well-established, empirical evidence supporting such a causal relationship is limited. Moreover, empirical studies that have been undertaken typically focus on education as a measure of child quality and have been...

Logit models of leadership duration test whether different agents are responsible for constitutional and unconstitutional transfers of power. Lagged values of per capita real investment have a significantly negative impact on unconstitutional transitions. This suggests that the elites of less...

Jump points in curves arise when the conditions under which data are generated change suddenly, for example because of an unplanned change in a treatment. If the size of the jump in the treatment effect exceeds the range of the error distribution then the design interval within which the jump...

An encompassing test between two models is based on the idea that the fist model is able to explain the inference obtained by the second model. In a Bayesian framework, the posterior distribution of the second model will then be compared to the posterior distribution built in the first model t...

This paper investigates the ex post rational price of Shiller (1981) to determine if it is a reliable guide to fundamental valuations of dividend-yielding assets. The ex post rational price is widely used to determine whether stock market price movements are rational responses to market news or...

Many widely used models, including proportional hazards models with un- observed heterogeneity, can be written in the form (Y ) = min[ 0 X + U; C], where is an unknown increasing function, the error term U has unknown distribution function and is independent of X, C is a random censoring...

In this paper, the authors provide some asymptotic results for the J-type test on non-nested hypotheses proposed by Davidson and MacKinnon (1981), in the context of I(1) time series.

We derive the asymptotic sampling distribution of various estimators frequently used to order distributions in terms of poverty, welfare and inequality. This includes estimators of most of the poverty indices currently in use, as well as estimators of the curves used to infer stochastic...

Aid flows are included into the standard cross-country catch-up relation. Robust¬ness of the result is tested by changing time periods and by adding extra variables. The main results are: Absolute conver¬gence and absolute aid effec¬ti¬ve¬ness are both rejected. While conditional...

We propose a simulated maximum likelihood estimator for dynamic models based on non-parametric kernel methods. Our method is designed for models without latent dynamics from which one can simulate observations but cannot obtain a closed-form representation of the likelihood function. Using the...