In this paper we study the finite sample and asymptotic properties of various weighting estimators of the local average treatment effect (LATE), several of which are based on Abadie's (2003) kappa theorem. Our framework presumes a binary treatment and a binary instrument, which may only be valid...

According to many studies, the transmission of oil prices to retail fuel prices is asymmetric. Fuel prices react faster if oil prices rise and more slowly if oil prices fall. We use the simple and dynamic asymmetry models, error correction models, threshold autoregressive cointegration, and an...

This study focuses on the role of heterogeneity in network peer effects by accounting for network-specific factors and different driving mechanisms of peer behavior. We propose a novel Multivariate Instrumental Variable (MVIV) estimator which is consistent for a large number of networks keeping...

When quantifying the importance of supply and demand for oil price fluctuations, a wide range of estimates have been reported. Models identified via a sharp upper bound on the short-run price elasticity of supply find supply shocks to be minor drivers. In turn, when replacing the upper bound...

It is well known that Local Projections (LP) residuals are autocorrelated. Conventional wisdom says that LP have to be estimated by OLS and that GLS is not possible because the autocorrelation process is unknown and/or because the GLS estimator would be inconsistent. I show that the...

We propose a demand estimation method that allows for a large number of zerosale observations, rich unobserved heterogeneity, and endogenous prices. We do so by modeling small market sizes through Poisson arrivals. Each of these arriving consumers solves a standard discrete choice problem. We...

Sustainable Development Goal 13 echoes the fact that all countries must make urgent and stringent efforts to mitigate against and adapt to climate change and its associated impacts. Climate financing is one of the key mechanisms used to enable countries to remain resilient to the hastening...

This study investigated the trade efficiency and trade effects under Free Trade Agreements for Thailand's agricultural exports. There are five main trading partners comprising China, Japan, Australia, New Zealand, and India. The important agricultural commodities of rubber, cassava, fruits,...

The United Nations Sustainable Development Goals (SDGs) 7, 11, and 12 are all aimed at advancing green energy consumption in the fight against the three planetary crises facing the world today: climate change, biodiversity loss, and pollution. Besides, Africa has an abundance of natural...

The research objective of the present study is the development of a model for increased accuracy of steel-price forecasts, which is of paramount importance for firms who use steel as an input and thus need to make informed decisions with regard to an optimal amount and type of hedge against...