We analyze time-varying volatility in crude oil, heating oil, and natural gas futuresmarkets by incorporating changes in important macroeconomic variables and majorpolitical and weather-related events in conditional variance equations. We allow eachmarket to respond to positive news different...

This study presents a technique that can jointly model and simulate the expected values, variances, and covariances of sets of correlated time-series dependent variables that are autocorrelated and non-normal (right or left skewed and/or kurtotic). It illustrates the method by applying it to...

This paper estimates the costs of buying water use rights from farmers located in the Mafraq-Azraq basin in Jordan. Farmers’ water supply curve is estimated using data gathered from a contingent valuation survey. Estimation results indicate that a total supply of 29 million m3 could be...

This paper explores the economic feasibility secondary forest regeneration and conservation as an alternative to help address global warming. Detailed measurements of tropical secondary forests through time, in different ecological zones of Costa Rica, are used for estimating carbon storage...

Replaced with revised version of paper 07/22/11.