In the current accelerated process of global warming, forest conservation is becoming more difficult to address in developing countries, where woodlands are often fueling the illegal economy. In Colombia, the issue of narcodeforestation is of great concern, because of the ramification of...

The term structure of American interest rates is filtered to reduce the influence of cross correlations and auto correlations on its factors. A three-factor model is fitted to the filtered data. Contrary to most studies of the term structure on monthly data, performing statistical tests we...

This paper introduces the Parallel Hierarchical Sampler (PHS), a class of Markov chain Monte Carlo algorithms using several interacting chains having the same target distribution but different mixing properties. Unlike any single-chain MCMC algorithm, upon reaching stationarity one of the PHS...