The paper addresses the concept of multicointegration in panel data frame- work. The proposal builds upon the panel data cointegration procedures developed in Pedroni (2004), for which we compute the moments of the parametric statistics. When individuals are either cross-section independent or...

This paper points to some of the common myths and facts that have emerged from 20 years of research into the analysis of unit roots in panel data. Some of these are wellknown, others are not. But they all have in common that if ignored the effects can be very serious. This is demonstrated using...

This paper tests for real interest parity (RIRP) among the nineteen major OECD countries over the period 1978:Q2-1998:Q4. The econometric methods applied consist of combining the use of several unit root or stationarity tests designed for panels valid under cross-section dependence and presence...

In a paper published in the Journal of Political Economy, Cummings et al. experimentally compare hypothetical and real-money referenda. They reject the incentive compatibility hypothesis of hypothetical referenda. However, in a comment, Haab et al. claim that the hypothesis cannot be rejected if...

During the last 30 years the growing appearance of quantitative models about insolvency prediction in the financial and accounting literature has awakened a great interest among the specialists and researchers of this field. What in the beginning were a few models with a sole objective, has...

The study is an empirical investigation of agrobiodiversity conservation decisions of small farmers in the central highlands of Ethiopia. The primary objective is to measure the effectiveness of Community Seed Banking (CSB) in enhancing diversity while providing productivity incentives. The...

This paper estimates treatment effects for back pain patients using observational data from a low-key social insurance reform in Norway. Using a latent variable model we estimate the average treatment effects (ATE), the average effect of treatment on the treated (TT), and the distribution of...

This paper investigates the impacts of market and institutional imperfections on technology adoption in a model that considers fertilizer use and soil conservation to be joint decisions. Controlling for plot characteristics and other factors, we found that a household’s decision to adopt...

Land degradation has been one of the major areas of concern in Ethiopia. Governments and development agencies have invested substantial resources to promote land management technologies and reduce land degradation. However, there is little understanding of the impacts that land management...

This paper connects three subjects related to international financial markets -- (i) information asymmetry, (ii) market segmentation, and (iii) cross-listings -- and highlights their implication for event study methodology. When firms list equities on more than one exchange, and the exchanges...