Since the late 1960s, the rising volatility of financial markets in the US has troubled econometricians and bank managers alike. Both professions have found it increasingly difficult to forecast savings deposit flows. This article explores these challenges by focusing on two developments. First,...

Fixed Effects Models -- When and How Much Do Fixed Effects Matter?- Random Effects Models -- Estimation of Sparse Variance-Covariance Matrix -- Models with Endogenous Regressors -- Dynamic Models and Reciprocity -- Random Coefficients Models -- Nonparametric Models with Random Effects --...

Forecasting hourly electricity prices and their characteristic properties is a core challenge for energy generation companies and trading houses. The short-term marketing and purchase of electricity is usually managed with standardized products traded on different markets and with specific...