The paper considers the task of selecting a flexible nonlinear model which can be used as a baseline model. The baseline model may be used as a testing ground for more structural models which are congruent with economic theory. From the limited empirical evidence obtained here it is tentatively...

We provide a wind power forecasting methodology that exploits many of the actual data's statistical features, in particular both-sided censoring. While other tools ignore many of the important "stylized facts" or provide forecasts for short-term horizons only, our approach focuses on medium-term...

This paper examines the limiting properties of the estimated parameters in the random field regression model recently proposed by Hamilton (Econometrica, 2001). Though the model is parametric, it enjoys the flexibility of the nonparametric approach since it can approximate a large collection of...