Maximum likelihood and two-step estimators of censored demand systems yield biased and inconsistent parameter estimates when the assumed joint distribution of disturbances is incorrect. This paper proposes a semiparametric estimator that retains the computational advantage of the two-step...

Four saline crops [athel (Tamarix aphylla L), eucalyptus (Eucalyptus camaldulensis), Jose Tall Wheatgrass (Agropyron elongatum), and Creeping Wild Ryegrass (Leymus triticoides)] that are used in farms for salt uptake from soil and drainage irrigation water have the potential for fuel ethanol...

The paper examines the changes in income inequality and welfare in urban China from 1981 to 1999. While the Lorenz curves estimated using Kakwani's interpolation method indicate that the level of income inequality in urban China has increased significantly since 1981, welfare comparisons based...

Economic time series usually exhibit complex behavior such as nonlinearity, fractal long-memory, and non-stationarity. Recently, considerable efforts have been made to detect chaos and fractal long-memory in finance. While evidence supporting fractal scaling in finance has been accumulating, it...

Using an error-correction model (ECM) framework, the authors attempt to quantify the degree of disequilibrium in Canadian housing stock over the period 1961–2008 for the national aggregate and over 1981–2008 for the provinces. They find that, based on quarterly data, the level of housing...

This article provides insights into Finnish co-operatives using evidence from 131 co-operatives of different sizes and in various industries. With the help of an interdisciplinary survey, we study the past and current state of Finnish co-operatives. The topics include business development,...