This paper presents a model of the probability of price response to the previous periods inventory absolute and relative level for U.S. paper and paperboard industry. The initial part of the paper contains a theoretical analysis of the phenomenon. The proposed framework indicates that the...

Pakistan’s national economic growth framework views connectivity between people and settlements as an engine of economic development. However, a little is known about the patterns of mobility across socioeconomic segments of the country. The study aims to explore gender differences in travel...

We propose a framework for causal inference using factor models. We base our identification strategy on the assumption that policy interventions cause structural breaks in the factor loadings for the treated units. The method allows heterogeneous trends and is easy to implement. We compare our...

Motivated by the great moderation in major U.S. macroeconomic time series, we formulate the regime switching problem through a conditional Markov chain. We model the long-run volatility change as a recurrent structure change, while short-run changes in the mean growth rate as regime switches....

We consider a set of minimal identification conditions for dynamic factor models. These conditions have economic interpretations, and require fewer number of restrictions than when putting in a static-factor form. Under these restrictions, a standard structural vector autoregression (SVAR) with...

In economic decision-making, the binary factor model is widely employed to characterize decision processes and capture individuals' exposures to various factors. This paper reveals that when the binary response is factorized, additional factors emerge, including an augmented time-invariant item...

The purpose of this dissertation is to investigate dual approaches to corner solutions that are both tractable and flexible in recreation demand. Two structural models are estimated using data from the Iowa wetlands survey in the incomplete demand system context. This dissertation expands...

In this dissertation, I discuss two important factors in individuals' decision-making processes: subjective expectation bias and time-inconsistent preferences. In Chapter I, I look at how individuals' own subjective expectations about certain future events are different from what actually...

Motivated by an empirical analysis of a data set collected in the field of ecology, we proposed nonlinear varying-coefficient models, a new class of varying-coefficient models. We further propose an estimation procedure for the nonlinear varying-coefficient models by using local linear...