In this paper, we investigate the interrelations among Turkish interest rates with different maturities by using a regime switching Vector Error Correction (VECM) model. We find a long run equilibrium relationship among interest rates with various maturities. Furthermore we conclude that term...

This paper uses Monte Carlo methods to investigate the effects of asymmetric adjustment on estimates of the parameters of the equilibrium relationship between a set of variables.We demonstrate that simple least squares estimates and the implicit estimates from a symmetric error correction model...

In models with unobserved taste heterogeneity, distributional assumptions can be placed in two ways: (1) by specifying the distribution of coefficients in the utility function and deriving the distribution of willingness to pay (wtp), or (2) by specifying the distribution of wtp and deriving the...

Spatial econometrics has been criticized by some economists because some model specifications have been driven by data-analytic considerations rather than having a firm foundation in economic theory. In particular, this applies to the so-called W matrix, which is integral to the structure of...

The pollution-convergence hypothesis is formalized in a neoclassical growth model with optimal emissions reduction: pollution growth rates are positively correlated with output growth (scale effect) but negatively correlated with emission levels (defensive effect). This dynamic law is...

The purpose of this study is to investigate the causal effects of governments’ social distancing measures to curb the spread of the ongoing SARS-COV-2 outbreak on the hotel industry of major tourist destinations (France, Greece, Italy, Spain, Portugal, and Turkey). The empirical analysis...

The scope of this note is to investigate the causal effects of the COVID-19 pandemic on life expectancy over a sample of 47 countries split into two groups. The first one includes countries that have adopted general lockdown measures (treatment group), while the second one consists of countries...

The scope of this study is to shed light on the determinants of the time gap between the publication of a Nobel discovery and the bestowment of the prize across three science fields (Physics, Chemistry, and Medicine). The econometric evidence supports that the delay gap is inversely related to...

The scope of this paper is to assess the impact of competition on industrial toxic pollution by using for the first time, a panel threshold model which allows evaluating the main drivers of toxic releases under two different market regimes. The empirical analysis is based on a micro level panel...

The study applies the probabilistic framework of nonparametric frontier estimation in order to model the effect of competitive conditions on sectors’ production efficiency levels. We utilize conditional Order-m robust frontiers modeling the dynamic effects of competitive conditions on a sample...