We show that lagged duration dependence is non-parametrically identified in mixed proportional hazard models for duration data, in the presence of competing risks and consecutive spells.

This paper finds evidence that the Indian stock market has become weak-form efficient, off-late. We proceed by, first, locating structural breaks in the index using Bai-Perron's method for endogenous multiple structural changes. Four structural breaks are identified for the period 1991 to 2008...

We focus on regional convergence based upon a sample of 19 European countries (1991-2008). After covering theoretical issues on -convergence and -convergence, we focused on the income distribution details. Our evidence confirms some results presented elsewhere, such as the convergence process...

During the past decades, the Pontifical Catholic University of Peru (known as PUCP) has been giving student loans to some of its students with satisfactory academic performance but who face certain economic problems which might interrupt their studies. Although this program was created more than...

The quality of match of four statistical matches used in the LIMEW estimates for the United States for 1992 and 2007 is described. The first match combines the 1992 Survey of Consumer Finances (SCF) with the 1993 March Supplement to the Current Population Survey, or Annual Demographic Supplement...

The instantaneous nature of electricity distinguishes its spot prices from spot prices for equities and other commodities. Up to now electricity cannot be stored economically and therefore demand for electricity has an untempered effect on electricity prices. In particular, hourly electricity...

This study demonstrates that regression discontinuity designs will arrive at biased estimates when attributes related to outcomes predict heaping in the running variable. We discuss several approaches to diagnosing and correcting for this type of problem. Our primary example focuses on the use...

Abstract Whilst emphasis has been given to short-term dependence of financial returns, long-term dependence remains overlooked. Despite financial literature provides evidence of long-term´s memory existence, serial-independence assumption prevails. This document´s long-term dependence...

This paper is motivated by the common argument that clean air is a luxury good and has much less or even no value in a less developed country. It applies a hedonic property value analysis, a method commonly used to infer the value of clean air in developed countries, using a combination of data...

This paper compares the effects of weather shocks on agricultural production in Britain, France and Germany during the late nineteenth century. Using semi- parametric models to estimate the non-linear agro-weather relationship, we find that weather shocks explain between one and two-thirds of...