Risk averse investors have to be compensated in higher expected returns when facing investments with higher risk. Education is an important investment therefore we use the results for 16 countries to test the positive relationship between return to education and the risk involved in this...

This paper uses quantile regression techniques to investigate the temporal dependence patterns of major exchange rates around the globe. Specifically, we estimate quantile autoregressive models for daily exchange rate returns of the USD/EUR, USD/JPY, USD/GBP, USD/AUD, USD/CHF and USD/CAD...

This study considers the theoretical bootstrap “coupling” techniques for nonparametric robust smoothers and quantile regression, and we verify the bootstrap improvement. To handle the curse of dimensionality, a variant of “coupling” bootstrap techniques is developed for additive models...

Based on a semiparametric Bayesian framework, a joint-quantile regression method is developed for analyzing clustered data, where random effects are included to accommodate the intra-cluster dependence. Instead of posing any parametric distributional assumptions on the random errors, the...

Xiao (2009) develops a novel estimation technique for quantile cointegrated time series by extending Phillips and Hansen¡¯s (1990) semiparametric approach and Saikkonen¡¯s (1991) parametrically augmented approach. This paper extends Pesaran and Shin¡¯s (1998) autoregressive distributed-lag...

We analyze the well-known issue of economic growth convergence using quantile regres- sion. Most previous studies have used a least squares (LS) method or variation, which focuses on the issue only at the mean of the growth rate. Therefore, such results cannot provide a satisfactory answer to...

Quantile regression (QR) models have been increasingly employed in many applied areas in economics. At the early stage, applications took place usually using cross-section data, but recent development has seen a surge of the use of quantile regression in both time-series and panel datasets....

We introduce technological influence as a variable to measure an invention's direct and indirect impact on the evolution of technology. This provides a novel means to study the short and long run effect of invention antecedents on technological evolution, invention activity, and economic growth....

Considerable prior research argues that time to death, not population aging, explains the growth of healthcare expenditures. The objective of this study is to shed light on this debate by presenting new evidence on the red herring hypothesis. This study adopts quantile regression analysis to...

Over the past 20 years the Italian labour market has experienced several institutional changes and socio-demographic developments. This paper explores how such changes have affected the distribution of private not agricultural earnings using longitudinal administrative records collected in the...