In this paper, we examine empirically the effect that certificate-of-need regulation by state health planning organizations has had on the speed of diffusion of a relatively new medical technology-haemodialysis. Specifically, we test the hypothesis that a requirement that investments be subject...

Maximum likelihood is used to estimate a generalized autoregressive conditional heteroskedastic (GARCH) process where the residuals have a conditional stable distribution (GARCH-stable). The scale parameter is modeled such that a GARCH process with normally distributed residuals is a special...

We specify and estimate an equilibrium search model with between-market heterogeneity in the productivity levels. The model allows for two types of unemployment: unemployment due to search frictions and unemployment due to wage floors. Wage floors may exist, because of large unemployment...