In this paper we derive testable implications of a unitary farm household model and a non-unitary, i.e., bargaining, model. In the unitary household model the impact of spouse-specific resources and nonlabor income on household decisions should not be different from the model where the resources...

This paper presents an essentially affine model of the term structure of interest rates making use of macroeconomic factors and their long-run expectations. The model extends the approach pioneered by Kozicki and Tinsley (2001) by modeling consistently long-run inflation expectations...

This paper aims at contributing to the literature on the differences in the transmission processes within Euroland. We start from the proposition that there are ‘deep’ differences in the nature of social conflicts and in the way countries deal with these conflicts. We empirically test this...

This paper studies the relationship between exchange rates and asset prices. It takes the novel approach of modeling both the markets in a framework of heterogeneous agents. Investors maximize their profits from the international equity markets by solving a Mean-Variance problem. As a result,...

In this paper, we develop an econometric model to estimate the impacts of Electronic Vehicle Management Systems (EVMS) on the load factor (LF) of heavy trucks using data at the operational level. This technology is supposed to improve capacity utilization by reducing coordination costs between...

Environmental factors add complexity to the comparison between specific activities or entire entities. Decision making units with an inferior performance are tempted to invoke that their organization is different from the others in the data set. By reinterpreting and extending the metafrontier...