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...

Understanding the structure and properties of production networks is essential to identify the transmission channels from monetary shocks. While growingly studied, this literature keeps displaying critical caveats from which the investigation of G-7 economies is not spared. To fill this gap,...

Background The escalating prevalence of type 2 diabetes (T2DM) poses an unparalleled economic catastrophe to developing countries. Cardiovascular diseases remain the primary source of costs among individuals with T2DM, incurring expenses for medications, hospitalizations, and surgical...

In this essay six societal challenges and research opportunities that confront 21st century Bayesian econometricians are briefly discussed using an important feature of modern Bayesian econometrics: conditional probabilities of a wide range of economic events of interest can be evaluated by...

This article aims to analyze the role of FDI and institutional quality in local economic growth in Vietnam. Using a dataset of 63 provinces in Vietnam between 2005 and 2020, the result of the Bayesian linear regression method cover that FDI has a negative effect on economic growth, while...

This paper studies the drivers of wage growth in Lithuania over the period 2008-2020. Using administrative data as well as aggregate measures reflecting the state of the economy, we estimate an extended version of a wage Phillips curve. Our reduced-form estimates indicate that nominal wage...

As people age, their consumption and saving behavior tends to change. At the same time, the share of age-related public spending increases, leaving less resources for fiscal stimulus, especially if public debt ratio is already high. Using Finnish data in a Bayesian VAR model, we show that the...

The problem of finding the factors influencing voting behavior is of crucial interest in political science and is frequently analyzed in books and articles. But there are not so many studies whose supporting information comes from official registers. This work uses official vote records in Spain...