Empirical evidence on the risk-return trade-off in stocks has been conflicting. Several studies estimate a positive risk-return trade-off (see French <italic>et al</italic>., 1987; Campbell and Hentschel, 1992) but other researchers find the opposite (see Nelson, 1991; Glosten <italic>et al</italic>., 1993) and most of the results have...

We estimate a distance function of grains production using generalized method of moments that enables us to accommodate multiple outputs of farmers as well as address the endogeneity issues that are related with the use of distance functions for multi-output production. Using a panel data set of...

We analyze the link between large and destructive floods and armed conflict in 117 countries between 1985 and 2009 employing flood-induced migration as a potential transmission channel. We use rainfall as an instrument for flood-induced migration and employ a two step procedure (Rivers and Vuong...

Global warming has been a heated topic in recent decades and it is shown that the average temperature of U.S. has been increasing since 1901 and more quickly from 1970s. However the data reveals that on state level a different temperature changing pattern exist and some area might experience...