In comparison with the large literature on house prices, housing investments have been studied far less. This paper investigates the behaviour of private residential investments for the six largest European economies, namely: Germany, France, Italy, Spain, the Netherlands and the United Kingdom....

To test and replicate the superstar effect reported by Brown (2011) we empirically study contests where a single entrant has an endogenously higher probability of winning. Unlike the previous literature, we test for the presence of the superstar effect in several different contexts. Ultimately,...

All investments and asset classes have different levels of risks and expected returns. For example, low risk investments such as cash generally provide a lower return than high risk investments over the long term, but are unlikely to lead to a capital loss. High risk investments generally offer...

This paper describes a moments estimator for a standard state-space model with coefficients generated by a random walk. This estimator does not require that disturbances are normally distributed, but if they are, the proposed estimator is asymptotically equivalent to the maximum likelihood...

In this paper, we borrow some of the key concepts of nonequilibrium statistical systems, to develop a framework for analyzing a self-organizing-optimizing system of independent interacting agents, with nonlinear dynamics at the macro level that is based on stochastic individual behavior at the...

The main objective of this paper is to examine the effect growth has on CO2 emissions in Kazakhstan, controlling for energy consumption, in the autoregressive distributed lag (ARDL) cointegration framework. We find that the environmental Kuznets curve (EKC) hypothesis seems to hold for...

Some social surveys now collect physical measurements and markers derived from biological samples, in addition to self-reported health assessments. This information is expensive to collect; its value in medical epidemiology has been clearly established, but its potential contribution to social...

Existing home sales' share of Canada's economic pie has been rising in recent years, and variation around this trend has resulted in outsized contributions to changes in real gross domestic product (GDP). In this context, we use a cointegration framework to estimate the level of resale activity...

The increasing deployment of renewables introduces substantial variability into the production of electricity, requiring demand to be more movable across time. We analyze data from a large Danish fi eld experiment (2015-2016) to investigate whether households can be prompted, via SMS messages,...

A persistent increase in the unemployment rate ignites speculations about whether the changes to unemployment are structural or cyclical. The New Zealand economy has been through major restructuring since the mid-1980s. The labour market's institutional changes were the last in the sequence of...