This paper presents a generalized autoregressive distributed lag (GADL) model for conducting regression estimations that involve mixed-frequency data. As an example, we show that daily asset market information - currency and equity market movements - can produce forecasts of quarterly commodity...

The "home bias" phenomenon states that empirically, economic agents often under-utilize opportunities beyond their country borders, and it is well-documented in various international pricing and purchase patterns. This bias manifests in the forms of fewer exchanges of goods and net...

This study quantifies the uneven welfare gains from trade between firm owners and workers in a multi-country model of monopolistic competition under a demand system of constant elasticity of substitution (CES). An agent decides to start up her own firm or to be employed as a worker according to...

As vividly demonstrated in Maddala (1983), limited and qualitative dependent variables are often encountered in modern econometric analysis. However, analytical methods for evaluating technical efficiency of stochastic frontier analysis can only be applied to continuous dependent variable. This...