This study examines the existence of structural stability and time-varying causality between economic policy uncertainty (EPU) and Asia-Pacific Islamic Stock P rice (AP ISP ) using the structural stability test and time-varying causality methods developed by Dizten, et al. (2021) and Shi, et al...

This paper examines the asymmetric impact of oil price, economic growth, financial development, and industrialization on oil consumption in Tunisia, using the Nonlinear Autoregressive Distributed Lag (NARDL) model over the period 1980-2020. The NARDL bound testing approach confirms the presence...

The climate–security century is here. Our collective understanding of the linkages between climate change, energy security, and national security has grown tremendously in the last decade. In fact, the term “climate change” is wholly absent from the 50th Anniversary edition of this...

Recent research has pointed out several pitfalls to the two-way fixed effects (TWFE) estimator when the adoption of treatment is staggered and the effect of treatment is heterogeneous. For example, it is biased and does not identify an interpretable measure of treatment effects. However, there...

The aim of this paper is to study from a causal inference standpoint the impact of the presence of B&Bs on the housing market at the municipal level, in 2018. In particular, the main variables of interest are the average house price and the penetration rate of Airbnb. The analysis is carried out...

This working paper is written by Gaofeng Han (Hong Kong Institute for Monetary and Financial Research) and Alfred Wong (Hong Kong Institute for Monetary and Financial Research).This paper studies the relationship between carbon emissions, energy consumption and economic activity in Hong Kong. We...

Analyzing observational data from multiple sources can be useful for increasing statistical power to detect a treatment effect; however, practical constraints such as privacy considerations may restrict individual-level information sharing across data sets. This paper develops federated methods...

This paper studies if workers infer from correlation about causal effects in the context of the part-time wage penalty. Differences in hourly pay between full-time and part-time workers are strongly driven by worker selection and systematic sorting. Ignoring these selection effects can lead to...

This paper provides the first causal evidence that hostile activities online lead to physical violence. Given the recently documented relationship between pollution and social media, I exploit exogenous variation in local air quality as the first step to instrument for online aggression. In an...