Does a nation's contingent value of hosting a mega event depend on past experience with implied benefits? Applying data from "ex-ante" and "ex-post" queries, we use the FIFA World Cup 2006 to address this question. The "ex-post" increase in valuation is shown to be owing to citizens requiring an...

We consider the possibility that demographic variables are measured with errors which arise because household surveys measure demographic structures at a point-in-time, whereas household composition evolves throughout the survey period. We construct and estimate sharp bounds on household size...

Economic sentiment surveys are carried out by all European Union member states and are often seen as early indicators for future economic developments. Based on these surveys, the European Commission constructs an aggregate European Economic Sentiment Indicator (ESI). This paper compares the ESI...

Nonlinear relationships are common in economic theory, and such relationships are also frequently tested empirically. We argue that the usual test of nonlinear relationships is flawed and derive the appropriate test for a U-shaped relationship. Our test gives the exact necessary and sufficient...

The Stock-Watson coincident index and its subsequent extensions assume a static linear one-factor model for the component indicators. This restrictive assumption is unnecessary if one defines a coincident index as an estimate of monthly real gross domestic products (GDP). This paper estimates...

An analysis of US and Slovenian vacancy data sets reveals that an employer who is searching to fill a job vacancy is more likely to fill the vacancy by hiring an under-qualified worker when the search costs are higher; when, at the start of the search, the employer has less time to search at low...

This paper utilizes relatively unexplored Canadian provincial-level data to investigate an old but still relevant question in macroeconomics as to whether consumption responds to income innovations in a manner consistent with the stochastic implications of the permanent income hypothesis (PIH)....

In contrast to health shocks, mortality shocks do not only induce direct costs such as medical and funeral expenses and possibly income loss, but also reduce the number of consumption units in the household. Using data from Indonesia, it is shown that the economic costs related to the death of...

This article considers the long-run relationship between nominal exchange rates and fundamentals from a different perspective. We apply a long-horizon regression approach proposed by <link rid="b20">Fisher and Seater (1993)</link> and find evidence supporting the explanatory power of exchange rate models. In...

When treatment effects of active labour market programmes (ALMPs) are heterogeneous in an observable way across the population, the allocation of the unemployed into different programmes becomes particularly important. In this article, we present a statistical model that can be used to allocate...