"We examine the effect of exposure to toxic releases that are tracked by the Toxic Release Inventory (TRI) on county-level infant and fetal mortality rates in the United States between 1989-2002. We find significant adverse effects of TRI concentrations on infant mortality rates, but not on...

In this note we provide simulation evidence on the size and power of tests of predictive ability described in Giacomini and White (2006). Our goals are modest but non-trivial. First, we establish that there exist data generating processes that satisfy the null hypotheses of equal finite-sample...

We investigate a test of equal predictive ability delineated in Giacomini and White (2006; Econometrica). In contrast to a claim made in the paper, we show that their test statistic need not be asymptotically Normal when a fixed window of observations is used to estimate model parameters. An example...