This paper examines whether the dismantling of apartheid has resulted in the improvement in the standard of living for the vast majority of South Africans. The study is based on a panel data set from the Kwazulu-Natal province. Despite the best efforts of the interview team, the attrition rate...

Are global temperatures on a warming trend? It is difficult to be certain about trends when there is so much variation in the data and very high correlation from year to year. We investigate the question using statistical time series methods. Our analysis shows that the upward movement over the...

Realized volatility of stock returns is often decomposed into two distinct components that are attributed to continuous price variation and jumps. This paper proposes a tobit multivariate factor model for the jumps coupled with a standard multivariate factor model for the continuous sample path...