We estimate electricity demand elasticities for eight subsectors of the German manufacturing industry using annual data from EU-KLEMS and the International Energy Agency for 1970–2007. The subsectoral approach allows to retain additional information otherwise blurred by aggregation and to...

The impact of fees on mutual fund performance has received little research attention as is also the cases of performance differences of two classes of funds, one the common mutual funds and the other mutual funds with strict compliance with filters based on a number of binding restrictions as in...

Based on the seminal paper of Farrell (1957), researchers have developed several methods for measuring eciency. Nowadays, the most prominent representatives are nonparametric data envelopment analysis (DEA) and parametric stochastic frontier analysis (SFA), both introduced in the late 1970s....

Resumen: Las reformas de los noventa introdujeron cambios institucionales y metodológicos en la regulación tarifaria para los servicios de electricidad y acueducto en Colombia. Este artículo, además de reseñar dichos cambios, evalúa el bienestar a través de un contrafactual y el cálculo...

The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed. This paper develops a model of the Chinese economy using a DSGE framework with a banking sector to shed light on this episode. It differs from other applications in the use of...

Economists often use balance tests to demonstrate that the treatment and control groups are comparable prior to an intervention. We show that typical implementations of balance tests have poor statistical properties. Pairwise t-tests leave it unclear how many rejections indicate overall...

We introduce the vector-valued t-Riesz distribution for time series models of electricity prices. The t-Riesz distribution extends the well-known Multivariate Student's t distribution by allowing for tail heterogeneity via a vector of degrees of freedom (DoF) parameters. The closed-form density...

Instrumental variables estimators typically must satisfy monotonicity conditions to be interpretable as capturing local average treatment effects. Building on previous research that suggests monotonicity is unlikely to hold in the context of school entrance age effects, we develop an approach...

Instrumental variables estimators typically must satisfy monotonicity conditions to be interpretable as capturing local average treatment effects. Building on previous research that suggests monotonicity is unlikely to hold in the context of school entrance age effects, we develop an approach...

We introduce the vector-valued t-Riesz distribution for time series models of electricity prices. The t-Riesz distribution extends the well-known Multivariate Student's t distribution by allowing for tail heterogeneity via a vector of degrees of freedom (DoF) parameters. The closed-form density...