In this work, we rely on unconventional data sources to nowcast the year-on-year growth rate of Finnish indus-trial production, for different industries. As predictors, we use real-time truck traffic volumes measured automatically in different geographical locations around Finland, as well as...

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...

Economic growth regarded as a mechanism to ensure a long-term balance through the optimal use of available resources, through the development of innovative potential, the creation and development of instruments generating economic growth and also an adequate distribution of income is influenced...

Factor modelling extracts common information from a high-dimensional data set into few common components, where the latent factors usually explain a large share of data variation. Exploratory factor estimation induces sparsity into the loading matrix to associate units or series with those...

We propose a new data-rich environment model of the yield curve, the macroeconomy, monetary policies and effective exchange rates for a panel of 11 countries: the iDREAM. The endogenous variables are observable (short- and long-term interest rates, exchange rates) and latent factors (economic...

We propose a new methodology to select a subset of assets for (partial) index replication, based on the latest research on factor models of large dimensions. Our method selects the set of leader stocks that can fully capture the systematic risk of the index to be replicated. Our selection...

In a rapidly changing world, older data is not as informative as the most recent data. This is known as a concept drift problem in statistics and machine learning. How does a firm adapt in such an environment? To address this research question, we propose a generalized revealed preference...

This paper studies the importance of good governance for FDI inflows in SAARC member countries for the time period of nine years, i.e. from 2006 to 2014. The worldwide governance indicators of Kaufmann, Kraay, and Zoido-Lobatón (1999) are used to investigate the impact of good governance on FDI...

This paper studies uniform inference in a linear panel data model when the slope coefficients may exhibit heterogeneity over both the individual and time dimensions and they can be correlated with the regressors. We propose a generalized two-way fixed effects (GTWFE) estimation procedure to...

A growing literature estimates the macroeconomic effect of weather using variations in annual country-level averages of temperature and precipitation. However, averages may not reveal the effects of extreme events that occur at a higher time frequency or higher spatial resolution. To address...