The Hidden Markov Model (HMM) has been widely used in regime classification and turning point detection for econometric series after the decisive paper by Hamilton (1989). The present paper will show that when using HMM to detect the turning point in cyclical series, the accuracy of the...

Kidney transplants across the blood-group barrier are medically feasible even if blood-group compatibility is preferred from a medical point of view. However, these types of transplants are motivated by the fact that they help in increasing the number of kidney transplants with living donors....

Heterogeneity in patient populations is an important issue in health economic evaluations, as the cost-effectiveness of an intervention can vary between patient subgroups, and an intervention which is not cost-effective in the overall population may be cost-effective in particular subgroups....

Existing econometric approaches for studying price discovery presume that the number of markets are small, and their properties become suspect when this restriction is not met. They also require making identifying restrictions and are in many cases not suitable for statistical inference. The...

In this paper we investigate the impact of a decrease in trade costs on firm decisions to export. The main contribution of this paper is to evaluate empirically the theoretical predictions of several models of multi-product exporters. The focus is on the firm export entry decision and the within...

This paper explores a housing market with an existing tenant in each house and where the existing tenants initially rent their houses. The idea is to identify equilibrium prices for the housing market given the prerequisite that a tenant can buy any house on the housing market, including the one...

Perikles is usually seen as a great statesman and clever leader of the Athenians. In the mid fifth century BC, he seems however to have been in serious political trouble and may well have been in danger of losing the struggle for power and of being ostracised. The fact that his incentives...

We study two-sided ("marriage") and general pairing ("roommate") problems. We introduce "sequences," lists of matchings that are repeated in order. Stable sequences are natural extensions of stable matchings; case in point, we show that a sequence of stable matchings is stable. In addition,...

Decomposition of a bivariate rank dependent index, such as the concentration index, is commonly used to explain socioeconomic inequalities in health. We introduce a new decomposition technique based on the recentered influence function that yields the marginal effects of covariates on the...

This paper studies an allocation problem with multiple assignments, indivisible objects, no endowments and no monetary transfers, where a single object may be assigned to several agents as long as the set of agents assigned the object satisfy a compatibility constraint. It is shown that, on the...