A Bayesian sampling algorithm for parameter estimation in a discrete-response model is presented, where the dependent variables contain two layers of binary choices and one ordered response. The investigation is motivated by an empirical study using such a double-selection rule for three...

This article explores tests for absolute convergence in economic activity among a set of countries. It proposes a new test procedure that allows the researcher to identify particular countries within the group, which might not be converging. It also proposes that convergence among a set of...

This paper presents the results of an alternative test of the rational expectations theory of the term structure of interest rates. Other researchers have also examined the validity of the expectations hypothesis of term structure. While there is more often rejection of the expectations...

type="main" xml:lang="en" <p>Using a 29-year (1978–2006) panel of provincial-level data from China, this article investigates the role of health capital in a human capital model of economic output. Robust evidence is found through panel cointegration analysis that health capital has a significant...</p>

This paper considers the role of language in employment outcomes and labour earnings in South Africa over the period 1996--8. Our pooled cross-section comprises more than 160,000 working-age adults, and the analysis considers the decision to participate in the labour force, employment outcomes...