To limit the dramatic growth of U.S. health care expenditures, some states have mandated that medical providers publicly report their charge prices. Our study evaluates the heterogeneous effects of this price transparency policy. We use a comprehensive database that covers more than 2,000...

In this paper we propose a general approach for estimating stochastic frontier mod- els, suitable when using long panel data sets. We measure efficiency as a linear combi- nation of a finite number of unobservable common factors, having coefficients that vary across firms, plus a time-invariant...

We assess the bias and the efficiency of state-of-the-art dynamic panel data estimators by means of model-based Monte Carlo simulations. The underlying data-generating process consists of a standard theoretical growth model of income convergence based on capital accumulation. While we impose a...

This paper introduces a novel approach for dealing with the curse of dimensionality in thecase of large linear dynamic systems. Restrictions on the coefficients of an unrestricted VARare proposed that are binding only in a limit as the number of endogenous variables tends toinfinity...

This paper introduces a novel approach for dealing with the "curse of dimensionality" in the case of large linear dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the number of endogenous variables tends to infinity. It is...

In this paper, we consider the dynamic features of house price in metropolises that are characterised by a high degree of internationalisation. Using a generalised smooth transition (GSTAR) model we show that the dynamic symmetry in house price cycles is strongly rejected for the housing markets...

This paper examines the behaviour of house prices in large metropolitan areas. Using a sample of metropolises it is shown that real estate prices are largely nonlinear. It is found that dynamic asymmetries in the housing market cycle can well be modelled using a logistic smooth transition model...

This paper seeks to examine the determinants of FDI into Latin America with an aim to make policy recommendations to boost FDI into the region. Using data for 17 Latin American countries for the period from 1990 to 2013 and two-way fixed effects method of estimation, the paper is an attempt to...

Empirically, teenagers who use soft drugs are more likely to use hard drugs in the future. This pattern can be explained by a causal effect (i.e., state dependence between drugs or stepping-stone effects) or by unobserved characteristics that make people more likely to use both soft and hard...

We develop a network-based vector autoregressive approach to uncover the interactions amongfinancial assets by integrating multiple realized measures based on high-frequency data. Undera restricted parameter structure, our approach allows the capture of cross-sectional and time ependencies...