This paper considers the problem of choosing the number of bootstrap repetitions B for bootstrap standard errors, confidence intervals, and tests. For each of these problems, the paper provides a three-step method for choosing B to achieve a desired level of accuracy. Accuracy is measured by the...

We develop a dynamic model in which the probability of failure of an infinitely lived financial intermediary (bank) is determined endogenously as a function of observable state and policy variables. The bank takes into account the effect of the optimal policy (the interest on deposits, dividend...

The paper introduces an estimator for the linear censored quantile regression model when the censoring point is an unknown function of a set of regressors. The objective function minimized is convex and the minimization problem is a linear programming problem, for which there is a global...