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 impact of error-term non-normality on the performance of the normal-error Generalized Autoregressive Conditional Heteroskedastic (GARCH) model under small and moderate sample sizes. A non-normal-, asymmetric-error GARCH model is proposed, and its finite-sample performance...

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 revisits the issue of crop yield distributions using improved model specifications, estimation and testing procedures that address the methodological concerns raised in recent literature that could have invalidated previous conclusions of yield non-normality. It shows beyond...

Threshold autoregressive (TAR) models can accommodate the asymmetric cycling behavior observed in some time series data. This study develops a procedure to estimate TAR models when the conditional mean of the dependent variable is function of one or more exogenous factors while allowing for...