This paper provides a detailed examination of price responses in the Swedish gasoline market to changes in the world market price. We use daily price data from one of the leading retail chains together with input costs (spot market price and exchange rate)for the period January 1980 to December...

Many oligopoly theories predict that there will be a positive correlation between market size and the equilibrium number of firms, and some also imply that competition is more intense in larger markets. We test these predictions with a sample of 535 driving schools in 249 markets. With an...

A new approach to limited-dependent variable count data or other model types is considered. Instead of adopting maximum likelihood estimation based on a full distributional assumption or smoothing techniques and semiparametric estimation, the novel idea is to use an approximation to the...

This paper analyses decisions regarding smoking and drinking for a sample of Irish women. Double-hurdle models are estimated to determine whether decisions to smoke/drink are made independently of how much to smoke/drink. Given the potential complementarities between smoking and drinking a model...

This paper presents an estimation of the impacts of microcredit on labor and human capital following a quasi-experiment specifically designed to control for endogeneity and selection bias in the context of urban Mexico. We find important indirect trickle-down effects of credit through labor...

In this paper, we propose an analyze a model built to treat data presenting the following characteristics: 1. they appear in an aggregated form 2. the aggregated terms may be considered as multivariate measures performed by instruments of random accuracy, or by the same instrument in changing...

Trading under limited pre-trade transparency becomes increasingly popular on financial markets. We provide first evidence on traders' use of (completely) hidden orders which might be placed even inside of the (displayed) bid-ask spread. Employing TotalView-ITCH data on order messages at NASDAQ,...

This paper develops a sample selection model for fractional response variables, i.e., variables taking values between zero and one. It is shown that the proposed model is consistent with the nature of the fractional response variable, i.e., it generates predictions between zero and one. A...

This paper presents maximum score type estimators for linear, binomial, tobit and truncated regression models. These estimators estimate the normalized vector of slopes and do not provide the estimator of intercept, although it may appear in the model. Strong consistency is proved. In addition,...

This paper presents a survey on panel data methods in which I emphasize new developments. In particular, linear multilevel models with a new variant are discussed. Furthermore, non linar, nonparametric and semiparametric models are analyzed. In contrast to linear models there do not exist...