Policy-makers are occasionally confronted with unusual extreme events that have the potential of affecting the national economy, which can have negative implications for such areas as employment, tax revenues, and inflation targets. In such instances, policy-makers may wish to offset the impact...

The pattern of decay of forecast content (or skill) with increasing horizon is well known for many types of meteorological forecasts; by contrast, little generally accepted information about these patterns or content horizons is available for economic variables. In this paper we estimate content...

The debate on the order of integration of interest rates has long focused on the I(1) versus I(0) distinction. In this paper we instead use the wavelet OLS estimator of Jensen (1999) to estimate the fractional integration parameters of several interest rates for the United States and Canada from...

We introduce a flexible nonparametric technique that can be used to select weights in a forecast-combining regression. We perform a Monte Carlo study that evaluates the performance of the proposed technique along with other linear and nonlinear forecast-combining procedures. The simulation...

In this article, we evaluate the efficiency of the 10 different regions of Ghana using slack-based data envelopment analysis, a nonparametric linear programming technique. Furthermore, we analyse the variable effects on the efficiency of the regions by various regression models using bootstrap...