Despite the fact that growth theories suggest that natural disasters should have an impact on economic growth, parametric empirical studies have provided little to no evidence supporting that prediction. On the other hand, pure nonparametric regression analysis would be an extremely difficult...

This paper compares the finite sample performance of three non-parametric threshold estimators via the Monte Carlo method. Our results indicate that the finite sample performance of the three estimators is not robust to the position of the threshold level along the distribution of the threshold...

Examining U.S. data, we investigate how the Covid-19 pandemic influences oil price returns in an asset pricing framework. Unlike previous studies, we consider a threshold model to allow for the possibility that Covid-19 risk may not play a role until it reaches a certain level. Our findings show...