The effects of a changing population composition on wages in the context of wage discrimination have been analyzed when labor supplies and discrimination preferences are fixed. This paper introduces variable supplies, with labor supply varying at the extensive margin and discriminatory...

Ninety-three world-wide inflation series are tested for unit roots. Treating the data series' innovations as draws from a symmetric stable distribution, with possibly infinite variance, reduces the number that appear stationary.

<title>Abstract</title> It has been demonstrated recently that in small-to-medium samples the empirical significance levels of the asymptotic J-type tests for the SARAR model introduced by Kelejian (2008) can be controlled in many cases by the use of a bootstrap to construct a reference distribution. A feature...

The paper sets up a nesting spatial regression model incorporating heteroskedastic shocks, and discusses hypothesis testing in both nested and nonnested cases in a quasi-likelihood framework, suggesting directions for future research effort.

This paper tests the feasibility and empirical implications of a spatial econometric model with a full set of interaction effects and weight matrix defined as an equally weighted group interaction matrix applied to research productivity of individuals. We also elaborate two extensions of this...

We derive the limit distribution of the number of crossings of a level by a random walk with continuously distributed increments, using a Brownian motion local time approximation. This complements the well-known result for the random walk on the integers. Use of the frequency of level crossings...