The aim of this paper is to analyse the impact of unobserved preference heterogeneity in empirical applications of discrete choice models of labour supply. Typically, unobserved heterogeneity is estimated either with continuous or discrete mixture models. However, in order to avoid estimation...

In this paper, we review the extant mathematical and environmental economics literatures on the stochastic properties of CO2 emission allowance futures prices. We explain the main findings arising from this literature from both continuous- and jump-diffusion models. Based on the Activity...

"We analyse the impact of retraining for the unemployed on future labour market success, and estimate effects separately for different target occupations. We use German registry data and apply statistical matching methods. The results show that on average, after a period with strong lock-in...

We analize the gender wage gap in Mexico using the population censuses from 1990 to 2010. The wage gap has decreased on average during this period. In 2010, the gender wage gap was about 6%. However, the average hides important aspects of the wage gap across the distribution of wages. We find a...

This paper assesses the productivity change of the French Technology Transfer Offices (TTOs) after the introduction of the July 1999 Innovation Law and the New Public Management Oriented Reform. By using Data Envelopment Analysis (DEA)-based Malmquist Productivity Index, we find an average...

2005 年7 月21 日,...

In this study, we use both parametric and non-parametric methods to test the property of martingale restriction in KOSPI 200 index options market. Our results provide strong evidence that the property is violated. Further regression analysis and robustness checks suggest that market friction...

在利用中国å„ç§å®è§‚和金èžæ•°æ®çš„实è¯ç ”究和政策分æžä¸­ï¼Œå‘é‡è‡ªå›žå½’模型（Vector Autoregression,...

Given a nonparametric regression model, we assume that the number of covariates $d\rightarrow\infty$ but only some of these covariates are relevant for the model. Our goal is to identify the relevant covariates and to obtain some information about the structure of the model. We propose a new...

The local polynomial estimator is particularly affected by the curse of dimensionality. So, the potentialities of such a tool become ineffective for large dimensional applications. Motivated by this, we propose a new estimation procedure based on the local linear estimator and a nonlinearity...