In this paper a three-regime multivariate threshold vector error correction model (TVECM) with a "band of inaction" is formulated to examine the expectation hypothesis of the term structure (EHTS) of interest rates and uncovered interest rate parity (UIRP) for U.S. and Swiss rates. Tests for no...

The excess of zeros is a not a rare feature in count data. Statisticians advocate the Poisson-type hurdle model (among other techniques) as an interesting approach to handle this data peculiarity. However, the frequency of gross errors and the complexity intrinsic to some considered phenomena...

The paper generalises estimation and inference procedures for a threshold VECM with more than one cointegrating relation. We derive estimators of long-run parameters and loading factors by means of a reduced rank regression. We provide their asymptotic distributions and propose a testing...

Despite being strongly recommended for health, preventive care is significantly underused even in countries like Italy where it can be obtained for free. We analyze the determinants of pap test and mammography utilization with an empirical model based on human capital theory. One original...

This paper estimates a regime switching Taylor Rule for the European Central Bank (ECB) in order to investigate some potential nonlinearities in the forward-looking policy reaction function within a real-time framework. In order to compare observed and predicted policy behavior, the paper...

We model residential land use constraints as the outcome of a political economy game between owners of developed and owners of undeveloped land. Land use constraints benefit the former group (via increasing property prices) but hurt the latter (via increasing development costs). More desirable...

Our paper integrates results from trade-in-task theory into mainstream trade theory by developing trade-in-task analogues to the four famous theorems (Heckscher-Ohlin, factor price equalisation, Stolper-Samuelson, and Rybczynski) and showing the standard gains-from-trade theorem does not hold...

It is empirically investigated whether South-South-regional integration areas such as the MERCOSUR three world regions in question are considered: Latin America, South-East Asia, and Africa. A comprehensive empirical study is done by different panel data analyses based on data from at least one...

This paper explores the extent of price transmission from inter-national agricultural prices to local producer prices. The question is whether price transmission is different when international prices go up from when they go down. From a theoretical prospect we expect the presence of...

The paper revisits the regression-based inequality decomposition based on Shorrocks and Fields, derives further theoretical results on the factor shares and applies them in an empirical setting. First we derive the asymptotic distribution of inequality factor share estimators for obtaining their...