This paper considers Value at Risk measures constructed under a discrete mixture of normal distribution on the innovations with time-varying volatility, or MN-GARCH, model. We adopt an approach based on the continuous empirical characteristic function to estimate the param eters of the model...

Building on recent advances in the theory of the optimal timing of investment under uncertainty, this paper proposes a stylized theoretical model to study an individual's optimal migration strategy. It shows that, as a result of following the optimal strategy, the individual may choose to delay...

In this paper we develop and estimate a traval-cost model of demand for recreational camping in the provincial parks of the Province of Ontario, Canada, in the spirit of the Vaughan-Russell contribution.

This paper presents an endogenous growth model in which there is an explicit treatment of the informational asymmetries giving rise to finance constraints in the credit market.