Developing countries are increasingly concerned about the growing pollution levels in cities. Because of the lack of reliable information on the nature and magnitude of emissions/discharges from various industrial sources it is difficult for regulators to formulate cost-effective strategies for...

It is increasingly realized that despite rapid improvement in emission standards for new vehicles, emissions from automobiles will continue to be a major source of urban air pollution in the large cities in India. Proponents of inspection, maintenance, and certification (IM) for in-use vehicles...

This paper analyses the issue of appropriate pricing of water for effectively controlling water pollution by distilleries in India. A major focus of the study is the practice of diluting effluent streams by clean groundwater to meet environmental regulations. The analysis is undertaken using a...

This article makes two contributions. First, we outline a simple simulation-based framework for constructing conditional distributions for multifactor and multidimensional diffusion processes, for the case where the functional form of the conditional density is unknown. The distributions can be...

Loan performance of subprime originations during the boom years of 2004–2006 is contrasted with that of subprime originations during the early period of 2000–2002. A counterfactual technique is developed to determine how originations during the early period would perform in a different...

This paper offers evidence on the design of subprime mortgages as bridge-financing products. We show that the viability of subprime mortgages was uniquely predicated on the appreciation of house prices over short horizons. High rates of early prepayments on subprime mortgages suggest the use of...

Investors face significant barriers in evaluating the performance of hedge funds and commodity trading advisors (CTAs). The only available performance data comes from voluntary reporting to private companies. Funds have incentives to strategically report to these companies, causing these data...