This paper revisits the influential work by Chetty, Hendren, Kline, and Saez (2014) who attempt to explain the variation in intergenerational mobility across commuter zones in the US (i.e., spatial mobility) using nine classes of variables. We employ Bayesian model averaging methods that allow...

The paper deals with the problem of model uncertainty in forecasting volatility using forecast combinations and a flexible family of asymmetric loss functions that allow for the possibility that an investor would attach different preferences to high vis-a-vis low volatility periods. Using daily...

Barro and McCleary (2003) is a key research contribution in the new literature exploring the macroeconomic effects of religious beliefs. This paper represents an effort to evaluate the strength of their claims. We evaluate their results in terms of replicability and robustness. Overall, their...

This paper extends the simple threshold regression framework of Hansen (2000) and Caner and Hansen (2004) to allow for endogeneity of the threshold variable. We develop a concentrated two-stage least squares (C2SLS) estimator of the threshold parameter that is based on an inverse Mills ratio...

Given the failure of the conventional linear Solow growth model to establish reliable results in the analysis cross-country growth performance, this paper proposes a new framework using the concept of hierarchy of time-scales.  By hierarchy of time scales, I mean that slower moving variables...

The empirical modeling of the cross-country differences in growth behavior is undoubtedly one of the most predominant research topics in applied macro-econometrics.  However, despite the vast research effort it seems that there are only a few firm conclusions on the sources of cross-country...

The recent growth literature has seen an explosion of work exploring the role of new and fundamental theories of growth such as geography, institutions, ethnic fractionalization, and religion. Nevertheless, claims about the empirical validity of these new growth theories are typically made...

We study regression models that involve data sampled at different frequencies. We derive the asymptotic properties of the NLS estimators of such regression models and compare them with the LS estimators of a traditional model that involves aggregating or equally weighting data to estimate a...

We employ various local generalizations of the Solow growth model that model parameter heterogeneity using human development at the beginning of the period with adult literacy rates and life expectancy at birth as a proxy. The model takes the form of a semiparametric varying coefficient model...