This paper introduces a spatial panel quantile model with unobserved heterogeneity. The proposed model is capable of capturing high-dimensional cross-sectional dependence and allows heterogeneous regression coefficients. For estimating model parameters, a new estimation procedure is proposed....

This paper considers the problem of testing whether there exists a non-negative solution to a possibly under-determined system of linear equations with known coefficients. This hypothesis testing problem arises naturally in a number of settings, including random coefficient, treatment effect,...

Understanding the jump dynamics of market prices is important for asset pricing and risk management. Despite their analytical tractability, parametric models may impose unrealistic restrictions on the temporal dependence structure of jumps. In this paper, we introduce a nonparametric inference...

The presence of a hub-and-spoke conspiracy legally depends on whether a horizontal agreement exists among the spokes, commonly stated in terms of whether there is evidence of a “rim” that connects the spokes. This article shows that the circumstantial evidence a court may use to infer such...

We develop inference procedures robust to general forms of weak dependence. The procedures use test statistics constructed by resampling data in a manner that does not depend on the unknown correlation structure of the data. We prove that the statistics are asymptotically normal under the weak...

This study combines two streams of literature – text representation and machine learning-based causal inference, to study how to represent text as data to improve causal inference, i.e., estimating treatment effects more accurately. We choose a real problem context, Yelp reviews, to...

We study a stochastic auction in a multi-items and unit-demand setting where bidders have one-dimensional type spaces. In a usual Pareto-efficient auction such as the VCG auction, items are allocated deterministically to bidders depending on their bids. However, even if an auctioneer implements...