Mergers often induce firms to modify both product quality and variety. The impact of such changes has received scant attention in merger literature, which mostly focuses on price changes. We develop a game-theoretical model to investigate the changes of quality, variety, and price after a merger...

Equal access to education is a basic human right. But in many countries gaps in education between various groups are staggering. An education Gini index - a new indicator for the distribution of human capital and welfare - facilitates comparison of education inequality across countries and over...

We investigate the ambiguity spillover among international equity markets. We follow Brennan and Izhakian (2018) and develop monthly ambiguity measures using high-frequency trading data of equity indices. The ambiguity spillover demonstrates noticeable asymmetry. The US equity market is the...

This paper considers the problem of forecasting inflation in the United States, the euro area and the United Kingdom in the presence of possible structural breaks and changing parameters. We examine a range of moving window techniques that have been proposed in the literature. We extend previous...