Measures of multifactor productivity growth in natural resource industries are misleading without accounting for the effects on the environment. This paper introduces environmental effects into an output-oriented Malmquist index of multifactor productivity growth in order to evaluate growth in...

Recent increases in the volume of canning grade tuna caught in the Western and Central Pacific Ocean (WCPO) have led to concern about the increasing catching capacity of the fleet of purse seine vessels operating in the fishery. In this paper, data envelopment analysis is used to examine the...

The objective of this paper is to propose an early warning system that can predict the likelihood of the occurrence of financial stress events within a given period of time. To achieve this goal, the signal extraction approach proposed by Kaminsky et al. (1998) is used to monitor the evolution...

This paper estimates and simulates a sticky-price dynamic stochastic general-equilibrium model with a financial accelerator, a la Bernanke, Gertler, and Gilchrist (1999), to assess the importance of the financial accelerator mechanism in fitting the data and its role in the amplification and...