The aim of this paper is to measure the returns to migration using non-experimental data taking both observed and unobserved characteristics into account. A significant challenge related to migration research and the issues of unobserved heterogeneity is that the standard 2stage least squares...

Bayesian networks (BNs) have proven to be a modeling framework capable of capturing uncertain knowledge and have been applied successfully in many domains for over 25 years. The strength of Bayesian networks lies in the graceful combination of probability theory and a graphical structure...

Two of the most discussed issues triggered by the so called Feldstein-Horioka puzzle in international macroeconomics are: What does the saving-investment (SI) relation really measure and how should the SI relation be measured? The first contribution of this study is to develop a new variant of...