I propose a Bayesian approach to making an inference about complicated patterns of structural breaks in time series. Structural break models in the literature are mainly considered for a simple case in which all the parameters under the structural changes are restricted to have breaks at the...

Forecasts of travel demand are often based on data from the most recent time point, even when cross-sectional data is available from multiple time points. This is because forecasting models with similar contexts have higher transferability, and the context of the most recent time point is...

We present a model of the optimal level of international reserves for a small open economy that is vulnerable to sudden stops in capital flows. Reserves allow the country to smooth domestic absorption in response to sudden stops, but yield a lower return than the interest rate on the country's...