The literature on the relationship between households and environmental change - commonly termed the poverty-environment relationship - is characterised by theoretical inadequacies and a lack of empirical verification. In this paper, we start by presenting a model which integrates a multiple-use...

In this paper we will rigorously study some of the properties of continuous time stochastic volatility models. We have five main results: (i) the stochastic volatility class can be linked to Cox process based models of tick-by-tick financial data; (ii) we characterise the moments, autocorrelation...

In this note we show how the stochastic volatility model of Barndorff-Nielsen and Shephard (1998a) can be generalised to allow for the leverage effect. That is where a negative return sequence is associated with increases in volatility. This is important in empirical work on stock returns. This...

Little attention has been devoted to the effects of absolute and relative prices variability at local and seasonal levels, for the measurement of living standards in LDCs. In particular, it is not known if a substantial share of welfare or poverty indicators may be the consequence of price...

An intertemporal acreage allocation model that allows for the impact of compulsory grain delivery is developed. Subsequently, an estimable dynamic acreage demand equation is derived, and estimated for a crop using region-level data. Generalised method of moments (GMM) estimators for dynamic...

In this paper, I analyse production and labour market data from a random sample of manufacturing firms in Ethiopia in order to test for skill formation and job matching effects in wage growth. Based on estimated labor market experience and job seniority profiles of relative marginal productivity...

This paper presents a simple model of an Ethiopian farm household which captures three important aspects of the policy regime characterising the Derg period. These aspects are compulsory grain delivery, rationing in manufactured consumer goods, and rationing in modern farm inputs. The model...

In this paper two sets of issues are addressed using panel data from the manufacturing sector of five African countries. First, how high are the returns to human relative to physical capital. Second, what is the relative importance of technology and endowments of human and physical capital in...

For many research problems in developing countries, some information on prices faced by households is required for the analysis, but these prices are not readily available from household surveys, nor is it straightforward to observe them, especially if subsistence consumption is a substantial...

Assessing changes in poverty levels over time is bedevilled by problems in questionnaire design, the choice of the poverty line, the exact timing of the survey and uncertainty about the appropriate cost-of-living deflators. In this paper, we focus on testing the robustness of measured changes in...