This work is intended to offer a comparative analysis of the statistical properties of hourly prices in the day–ahead electricity markets of several countries. Starting from the intermittent nature of typical price fluctuations in many power markets, we will provide evidence that working into...

The present study applies the techniques of cointegration and Granger causality to examine the causal relationship between industrial growth and overall economic performance in the Mexican economy. The empirical evidence presented in the paper tries to find support in Mexico for the Kaldor’s...

The paper speaks of the technological evolution using a translog cost function for a western European country – Portugal. It begins by presenting the methodological framework, the estimation process based on the iterative Zellner method to estimate systems of seemingly unrelated regression...

This paper uses basic rules of probability to develop a new scoring method. The method accounts for guessing, partial knowledge, and misinformation; it also differentiates between incorrect responses and omits. Aside from multiple-choice tests, the method can be used to score short-answer tests....

As a contribution toward the ongoing discussion about the use and mis-use of p-values, numerical examples are presented demonstrating that a p-value can, as a practical matter, give you a really different answer than the one that you want.

Large-dimensional dynamic factor models and dynamic stochastic general equilibrium models, both widely used in empirical macroeconomics, deal with singular stochastic vectors, i.e., vectors of dimension r which are driven by a q-dimensional white noise, with q r. The present paper studies...

This paper discusses two alternative two-part models for fractional response variables that are defined as ratios of integers. The first two-part model assumes a Binomial distribution and known group size. It nests the one-part fractional response model proposed by Papke and Wooldridge (1996)...

Conventional wisdom says that the middle classes in many developed countries have recently suffered losses, in terms of both the share of the total population belonging to the middle class, and also their share in total income. Here, distribution-free methods are developed for inference on these...

In this paper, we study the finite sample accuracy of confidence intervals for index functional built via parametric bootstrap, in the case of inequality indices. To estimate the parameters of the assumed parametric data generating distribution, we propose a Generalized Method of Moment...

A large number of nonlinear conditional heteroskedastic models have been proposed in the literature. Model selection is crucial to any statistical data analysis. In this article, we investigate whether the most commonly used selection criteria lead to choice of the right specification in a...