Applied research often tolerates misspecification in order to reach informative conclusions. We focus on how the degree of misspecification varies with the level of aggregation of data for quasilinear utility models. We present aggregation results formalizing that the model cannot get worse when...

Das Allgemeine Verhaltensmodell von March und Simon verknüpft vier fundamentale Konstrukte der Verhaltenstheorie: das Anspruchsniveau, die Belohnungserwartung, die Zufriedenheit und die Suche nach Verhaltensweisen, die Erfolg und Zufriedenheit versprechen. Die Teilmechanismen, die in dem Modell...

We show that children who are born at or just before the weekend are less likely to be breastfed, owing to poorer breastfeeding support services in hospitals at weekends. We use this variation to estimate the effect of breastfeeding on children's development in the first five years of life, for...

The number of Covid-19 cases is increasing dramatically worldwide, with several countries experiencing a second and worse wave. Therefore, the availability of reliable forecasts for the number of cases and deaths in the coming days is of fundamental importance. We propose a simple statistical...

I provide a framework for understanding debt deleveraging in a group of _nancially integrated countries. During an episode of international deleveraging world consumption demand is depressed and the world interest rate is low, reecting a high propensity to save. If exchange rates are allowed to...

I develop a model where governments might prefer to have an undercapitalized domestic financial sector during crises. Weak banks optimally tilt their sovereign bond portfolio towards domestic securities that are positively correlated with banks' other sources of revenues. Governments anticipate...

In statistics, samples are drawn from a population in a datagenerating process (DGP). Standard errors measure the uncertainty in sample estimates of population parameters. In science, evidence is generated to test hypotheses in an evidencegenerating process (EGP). We claim that EGP variation...

African countries have over the years experienced persistent current account deficits. The role of asymmetries in explaining the response of trade balance to exchange rate movement has not received adequate attention as linear models dominate extant empirical literature. In this paper, we...

The convex time budget (CTB) method is a widely used experimental method for eliciting an individual's time preference. Researchers adopting the CTB experiment usually assume quasi-hyperbolic discounting utility as a behavioural model and estimate the parameters of the utility function. However,...

The high proportion of motorized vehicles is leading to significant functional problems, especially in the centers of major cities. At the same time, dependence on fossil fuels is no longer just a climate problem, but also a problem of world peace. Simultaneously, new forms of mobility are...