We analyse the effects of 'network neutrality' proposals that seek to foreclose or severely limit market transactions. Our model reveals that rules that prohibit efficient commercial transactions between content and broadband service providers could be bad for all participants – consumers...

This paper investigates the stochastic nature of the unemployment rate allowing for cross-section dependence from a panel of US state-level data. We first employ the PANIC method to identify the common and idiosyncratic components. Powerful recursive mean adjustment (RMA) methods are used to...

We look at alternative methods to correct a downward bias in half-life estimates of relative stock prices among the G7 countries. We compare a grid-[alpha] median-unbiased method and a recursive mean adjustment method.