We propose methods for constructing regularized mixtures of density forecasts. We explore a variety of objectives and regularization penalties, and we use them in a substantive exploration of Eurozone inflation and real interest rate density forecasts. All individual inflation forecasters (even...

A solution to deal with endogeneity when external instruments are not available is through heteroschedasticity. This paper shows that the available estimators might suffer from finite sample bias and proposes a solution. In MonteCarlo simulations the proposed solution makes the bias equal to...

Stochastic volatility models are very flexible models able to characterize financial volatility evolution. This article explores computational capabilities based on Graphical Processing Units to simulate many Monte Carlo Markov chains in estimating stochastic volatility model parameters through...

Stochastic volatility models are very flexible models able to characterize financial volatility evolution. This article explores computational capabilities based on Graphical Processing Units to simulate many Monte Carlo Markov chains in estimating stochastic volatility model parameters through...

We compare two approaches to using information about the signs of structural shocks at specific dates within a structural vector autoregression (SVAR): imposing ‘narrative restrictions’ (NR) on the shock signs in an otherwise set-identified SVAR; and casting the information about the shock...

In empirical macroeconomics, proxy structural vector autoregressive models (SVARs) have become a prominent path towards detecting monetary policy (MP) shocks. However, in practice, the merits of proxy SVARs depend on the relevance and exogeneity of the instrumental information employed. Our...

To effectively improve the indoor local thermal environment, a novel directional heat radiation (DHR) device was designed. In the present paper, the thermal radiation effect of the directional setting DHR device was verified through experiments, and the heat transfer process of the DHR device...

We develop a flexible Kinetic Monte Carlo algorithm that allows us to simulate drug release from swelling systems such as hydrogels. Our algorithm can be used for a wide range of problems as long as the interactions between the drug particles and the medium can be described by a local effective...

Understanding the health risks of toxic elements (TEs) in urban park soils and determining their priority control factors are crucial to public health and pollution management. In this work, soil samples from 33 urban parks in Guiyang, a typical karstic city, were collected. Results showed that...