A5072606491- Monetary Policy and Economic Impact
- Financial Risk and Volatility Modeling
- Economic theories and models
- Statistical Methods and Inference
- Spatial and Panel Data Analysis
- Statistical Methods and Bayesian Inference
- Market Dynamics and Volatility
- Bayesian Methods and Mixture Models
- Forecasting Techniques and Applications
- Complex Systems and Time Series Analysis
- Auction Theory and Applications
- Advanced Statistical Methods and Models
- Insurance, Mortality, Demography, Risk Management
- Consumer Market Behavior and Pricing
- Fiscal Policy and Economic Growth
- Global Financial Crisis and Policies
- Statistical Distribution Estimation and Applications
- Law, Economics, and Judicial Systems
- Climate Change Policy and Economics
- Merger and Competition Analysis
- Fault Detection and Control Systems
- Economic and Environmental Valuation
- Economic Policies and Impacts
- Corporate Taxation and Avoidance
- Local Government Finance and Decentralization
University of Pittsburgh
2009-2020
Laboratoire Paragraphe
2019
Université Laval
2008-2011
Vrije Universiteit Amsterdam
2009-2010
Université de Moncton
1999-2008
UCLouvain
1973-2005
Institut des Arts de Diffusion
1982-2000
Pittsburg State University
1996-1997
Duke University
1986-1991
The encompassing principle is used to develop a testing framework which unifies the literature on non-nested testing, allowing analysis of relationship between alternative tests and in particular enabling asymptotic finite sample equivalences identities be established easily when they exist, as well embracing nested hypothesis testing. concept implicit null test introduced show that effective acceptance region for some extends beyond corresponding interest, so such can inconsistent against...
Allegations of Bidder collusion at Forest Service timber sales in the Pacific Northwest were common 1970s. Of course, prices may be low for reasons other than collusion. We formulate an empirical model that allows both bidder and supply effects which we control demand conditions. Noncooperative behavior a single unit is sold (the standard auction model) special case: it found to definitively outperformed by also find are dominated determining winning bids market.
This paper analyzes the determinants of effective legal institutions (legality) and their impact on economic development today using data from 49 countries. We show that way law was initially transplanted received is a more important determinant than supply particular family (i.e. English, French, German, or Scandinavian). Countries have developed orders internally, adapted to local conditions, and/or had population already familiar with basic principles legality "transplant effect"...
We propose a new generic and highly efficient Accelerated Gaussian Importance Sampler (AGIS) for the numerical evaluation of (very) high-dimensional density functions. A specific case interest to us is likelihood functions broad class dynamic latent variable models. The feasibility our method strikingly illustrated by means an application first-order stochastic volatility model daily stock returns, whose actual sample size 2022 (!) evaluated with high accuracy 10,000 Monte Carlo...
Journal Article Models with Several Regimes and Changes in Exogeneity Get access J.-F. Richard CORE, Université Catholique de Louvain Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 47, Issue 1, 1980, Pages 1–20, https://doi.org/10.2307/2297101 Published: 01 January 1980
Abstract Donetta J. Cothran, Pamela Hodges Kulinna, Dominique Banville, Euichang Choi, Chantal Amade-Escot, Ann MacPhail, Doune Macdonald, Jean-François Richard, Pedro Sarmento, and David Kirk Teacher beliefs are a major influence on teacher actions. Because context influences beliefs, it was the purpose of this study to explore teachers' about Mosston's Spectrum Teaching Styles from an international perspective. Over 1,400 teachers 7 countries completed survey related their self-reported...
The nervous system is constantly infiltrated by blood-derived sentinels known as perivascular macrophages. Their immediate precursors have not yet been identified in situ and the mechanism that governs their recruitment mostly unknown. Here, we provide evidence CD68 + GR1 − monocytes can give rise to macrophages mice suffering from endotoxemia. After adhesion endothelium, these start crawl, adopt a rod-shaped morphology when passing through capillaries, manifest ability proliferate form long...
In this paper, efficient importance sampling (EIS) is used to perform a classical and Bayesian analysis of univariate multivariate stochastic volatility (SV) models for financial return series. EIS provides highly generic very accurate procedure the Monte Carlo (MC) evaluation high-dimensional interdependent integrals. It can be carry out ML-estimation SV as well simulation smoothing where latent volatilities are sampled at once. Based on smoother, Markov chain (MCMC) posterior parameters performed.
Abstract We propose a dynamic factor model for the analysis of multivariate time series count data. Our allows idiosyncratic as well common serially correlated latent factors in order to account potentially complex interdependence between counts. The is estimated under alternative distributions (Poisson and negative binomial). Maximum likelihood estimation requires high-dimensional numerical integration marginalize joint distribution with respect unobserved factors. rely upon Monte Carlo...
Super-experienced bidders have learned to overcome the winner's curse but still earn less than 50% of Nash equilibrium profits. Subjects deviate from complicated strategy, employing piecewise-linear bid functions that are capable, in principle, generating an with average profits at or above benchmark. Thus, limited computational abilities alone cannot account for reduced earnings. Further, subjects far best responding within this family functions. Alternative factors contributing these...
We develop a numerical procedure that facilitates efficient likelihood evaluation in applications involving non-linear and non-Gaussian state-space models. The employs continuous approximations of filtering densities, delivers unconditionally optimal global targeted integrands to achieve approximation. Optimized are constructed via importance sampling. Resulting functions model parameters, greatly enhancing parameter estimation. illustrate our dynamic stochastic general equilibrium
The paper analyses an M3 demand for money equation the United Kingdom. Attention is paid to policy change that occurred in 1971 with introduction of measure known as Competition and Credit Control. Classical Bayesian single instrumental variables procedures are developed investigate exogeneity short-term interest rate constancy parameters underlying relationships. have changed well status variable but long-term appear be less affected by change.