The elicitation of the elasticity of intertemporal substitution (EIS), discount factor, and risk attitude parameters is of central importance to economics, finances and public policy. This paper jointly elicits and estimates these parameters using experimental data. We employ a new model based...

This note shows that the Generalized Expected Discounted Utility (GEDU) model is not dynamically consistent and does not allow for a complete separation of the parameters characterizing risk aversion and the elasticity of intertemporal substitution (EIS). Therefore, the model is not convenient...

This paper proposes a dynamic regression model that incorporates network effects from a large cross section of units. We consider a functional coefficient to measure these effects that is estimated using Taylor expansions over a partition of disjoint intervals of the compact support of the...

The elicitation of the elasticity of intertemporal substitution (EIS), discount factor, and risk attitude parameters in dynamic models is of central importance to economics, finance and public policy. This paper suggests an alternative method to jointly elicit and estimate these three parameters...

Grounded on the concept of cointegration, this paper develops a novel test of time series convergence between pairs of unit root processes. The test (i) does not require the estimation of the cointegration coeffcient, (ii) is robust to general forms of weak dependence in the transitory...

This paper proposes a system of simultaneous equations in a panel data setting to examine the relationship between corporate financial performance (FP) and corporate environmental performance (EP) for the group of firms comprising the S&P 500 in- dex. The study separates between brown (heavily...

This paper shows that under absence of arbitrage opportunities the exchange rate reacts to restore equilibrium in international bond markets. The key factors determining its value are the difference between realized and implicit interest rate differentials, the underlying risk premium in bond...