We conducted a choice experiment presenting respondents with risk reductions for three types of illnesses related to air pollution—pollen allergy, chronic bronchitis, and lung cancer—splitting the sample to test the effects of private-good and public-good contexts on the value of a...

In International Economics, so-called gravity equation has been successful. In the present paper, we show that similar equation concerning transaction network holds well. The weight of transaction network among Japanese prefectures is explained by Sales-i*Sales-j/Distance-ij very well. The...

Most macroeconomic data is continuously revised as additional information becomes available. We suggest that revisions of data is an important source of uncertainty about the state of the economy. This paper evaluates the quality of major real macroeconomic Euro area variables, published by...

Most macroeconomic data is continuously revised as additional information becomes available. We suggest that revisions of data is an increasingly important source of uncertainty about the state of the economy and offer an alternative channel of uncertainty - data uncertainty. This paper adds on...

We document five novel empirical findings on the well-known potential ordering drawback associated with the time-varying parameter vector autoregression with stochastic volatility developed by Cogley and Sargent (2005) and Primiceri (2005), CSP-SV. First, the ordering does not affect point...

We extract tone-adjusted, time-varying and hierarchically ordered topics from a large corpus of Dutch financial news and investigate whether these topics are useful for monitoring the business cycle and nowcasting GDP growth in the Netherlands. The financial newspaper articles span the period...