This dissertation concerns cross-country consumption risk sharing in a long-run perspective. Financial integration, empirically measured by cross-country holdings of assets and liabilities, has increased dramatically in the past two decades. But what can explain the lack of cross-country risk...

This thesis considers a dynamic panel data model with error components that are correlated both spatially (cross-sectionally) and time-wise. The model extends the literature on dynamic panel data models with cross-sectionally independent error components. The model for spatial dependence is a...

The first part of the dissertation is a Monte-Carlo study of the small sampleproperties of various estimators of the parameters of single equation model witha spatially lagged dependent variable and a spatially lagged disturbance term.We focus on the small sample behavior of the maximum...

In my thesis I develop a theoretical model of interdependent choices and an estimation strategy which I apply to model patent renewal. The model and the estimation are not confined to my application, but rather can have other applications in which firms or people are making strategic and...

This dissertation inquires into the relationship between income, aspirations, and life satisfaction in post-transition Russia. It first explores the channels through which adaptation and social comparison contribute to higher income aspirations. The results show that social comparison is a...