A popular approach to perform inference on a target parameter in the presence of nuisance parameters is to construct estimating equations that are orthogonal to the nuisance parameters, in the sense that their expected first derivative is zero. Such first-order orthogonalization may, however,...

Idén lesz a második világháború végének 80. évfordulója. Az ünneplés feltehetően elmarad. A világháborút túlélt nemzedékek távozásával a tanulságok is egyre inkább feledésbe merülnek. A háború borzalmaira válaszként létrehozott globális világrend, amelynek...

I show that in linear rational expectation models, the effect of a monetary tightening can be simulated using contemporaneous and anticipated monetary policy shocks that replicate the forward curves observed during the period of interest, normalized with the forward curve observed in the quarter...

This note illustrates, by reconsidering the seminal optimal speed-of-transition model of Aghion, P., and O. J. Blanchard. (1994. "On the Speed of Transition in Central Europe." NBER Macroeconomics Annual 9: 283-319), that optimal transition paths, in general, exhibit nonlinearities and...

In welfare economics, the theory of second best is inextricably linked to an article by Richard George Lipsey and Kelvin John Lancaster, published in 1956 in the Review of Economic Studies. The publication of this article was encouraged by Harry Gordon Johnson, who was a member of the journal's...

Syndicated loan data provided by DealScan is an essential input in banking research to answer urging questions on bank lending, e.g., in the presence of financial or geopolitical shocks or climate change. However, many data options raise the question of how to choose the estimation sample. We...

We show that the discrete real option game model proposed in the recent literature can be extended to the case of imperfect information. As a result, the model can cover a wider range of applications. However, we also observe that the effectiveness of implementing the subsidy is affected by the...

We have developed novel algorithm that integrates ChatGPT to revolutionize drug discovery, addressing the complexities and high costs associated with traditional methods. This innovative algorithm leverages ChatGPT's advanced natural language processing capabilities to perform comprehensive...

The rapid progress of digital marketing increased dependency on influencer marketing to act as a strategic tool for brand engagement. Although traditional strategies often lack potentiality in optimizing influencer partnerships and incrementing campaign effectiveness. This chapter introduces a...

An investigation was made in an aerospace industry located in the Tijuana city, which manufactures shock absorbers used in the landing gear of aircrafts, where an inefficient operation of the shock absorbers was detected, was caused by the activation action of the bar not being generated....