Climate forecasting systems that group years on the basis of a climate forecasting index like the Southern Oscillation Index (SOI) or sea surface temperatures (SSTs) are quite simple to explain to industry personnel. Phase systems identify a subset of years (analogues) that have the same phase...

We propose a novel framework to analyse the macroeconomic impact of non-communicable diseases. We incorporate measures of disease prevalence into a human capital augmented production function, which enables us to determine the economic costs of chronic health conditions in terms of foregone...

We show that the asymptotic distribution of the ordinary least squares estimator in a cointegration regression may be bimodal. A simple case arises when the intercept is erroneously omitted from the estimated model or in nonlinear-in-variables models with endogenous regressors. In the latter...