Damage caused by entered pollution in reservoirs can affect a water resource system in two ways: (1) Damages that are caused due to consumption of polluted water and (2) damages that are caused due to insufficient water allocation. Those damages conflict with each other. Thus, the crisis should...

Alternative delivery scheduling approaches were tried to overcome the problem of low efficiency in eastern Indian irrigation projects. The features of the existing delivery schedules in the Left Bank Feeder Canal (LBFC) system of Kangsabati irrigation project, located in the state of West...

Estimating economic earnings mobility is imperative for understanding the degree to which low pay employment is a temporary or long-term position. The current literature estimates transition probabilities between low and higher pay. This study extends the focus to identify the underlying...

This paper seeks to investigate and remedy the apparent inability of Markov regime switching models to predict future states in the medium to long term. We show that projected time varying transition probability series in the model may be biased towards predicting regime switches with high...

This paper researches small-sample properties of the Markov-switching model with time-varying transition probabilities. By means of simulation, it is shown that the likelihood ratio statistic is over-sized for sample sizes relevant in many empirical applications. The number of regime switches...

One of the key factors that affects the extent to which changes in labour demand affect other macroeconomic variables, such as wage inflation, is the degree of matching between potential employees and available jobs. The pool of potential employees is usually measured as the pool of unemployed...

An empirical and theoretical analysis of financial crises is conducted based on statistical mechanics in non-equilibrium physics. The transition probability provides a new tool for diagnosing a changing market. Both calm and turbulent markets can be described by the birth–death process for...