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 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...

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...

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 develops a method to select the threshold in threshold-based jump detection methods. The method is motivated by an analysis of threshold-based jump detection methods in the context of jump-diffusion models. We show that over the range of sampling frequencies a researcher is most...

We consider the situation when there is a large number of series, $N$, each with $T$ observations, and each series has some predictive ability for the variable of interest, $y$. A methodology of growing interest is to first estimate common factors from the panel of data by the method of...

We examine the ability of the simple linear-quadratic model under rational expectations to explain dynamic behaviour of aggregate Canadian imports. In contrast to authors of previous studies who examine dynamic behaviour using the LQ model, we estimate the structural parameters using the Euler...

Accurate estimation of the dominant root of a stationary but persistent time series are required to determine the speed at which economic time series, such as real exchange rates or interest rates, adjust towards their mean values. In practice, accuracy is hampered by downward small- sample...