Consider a model with parameter phi, and an auxiliary model with parameter theta. Let phi be a randomly sampled from a given density over the known parameter space. Monte Carlo methods can be used to draw simulated data and compute the corresponding estimate of theta, say theta_tilde. A large...

Real option theory, used for valuing investments or solve optimal time schedule problems, is based on the existence of a relevant underlying security. However, in most applied works, there is no obvious asset connected with the risk to value. One of the main difficulty, in applying real option...

In this paper we aim at studying to what extent reorganizations of the work before implementing the 35-hours work week has influenced firms when choosing their date of implementation of working time reduction through Robien, Aubry I or Aubry II laws. To proceed, we match the business section of...

This study examines the persistence of innovation in French manufacturing firms over the period 1986-1996. We find that innovation is strongly persistent at the firm level and that the nature of this persistence depends on the size of the firm. While learning-by-doing may explain innovation...

Although panel data have been used intensively by a wealth of studies investigating the GDP-pollution relationship, the poolability assumption used to model these data is almost never addressed. This paper applies a strategy to test the poolability assumption with methods robust to functional...

This paper analyzes house price data belonging to three hierarchical levels of spatial units. House selling prices with associated individual attributes (the elementary level-1) are grouped within municipalities (level-2), which form districts (level-3), which are themselves nested in counties...

The primary objective of this study is to examine the evidence of occurrences of extreme market pressure of currencies of a number of Asian economies against the US dollar during the period of 2000-2009. In particular, we are interested in investigating the severity of these pressures during the...

La necesidad de definir una visión estratégica del desarrollo en el nuevo entorno nacional ha generado un replanteamiento de los enfoques y métodos de la ciencia regional. Este nuevo enfoque se ha traducido en un amplio debate dentro del contexto de interpretación de las nuevas realidades y...

One of the most important drawbacks of the existing literature on convergence is that it largely ignores the effect of aggregate fluctuations on the evolution of income disparities. To the extent that regional income disparities follow a distinct cyclical pattern in the short-run, moving either...

This paper compares recently developed semiparametric estimators of Type-3 Tobit model using Monte Carlo simulations. In particular, we examine the finite sample performance of the recently proposed method by Li and Wooldridge and compare it to some alternative semiparametric estimators....