In this paper we support the proposition that the output-unemployment relationship as represented by Okun's law is asymmetric. Okun's coefficients are defined based on a dynamic model that allows for asymmetry in the relationship between cyclical output and unemployment. Using data from the...

This paper investigates nonparametric estimation of density on [0, 1]. The kernel estimator of density on [0, 1] has been found to be sensitive to both bandwidth and kernel. This paper proposes a unified Bayesian framework for choosing both the bandwidth and kernel function. In a simulation...

The family of multiplicative error models, introduced by Engle (<xref>2002</xref>, <italic>Journal of Applied Econometrics</italic> 17, 425–446), has attracted considerable attention in recent literature for modeling positive random variables, such as the duration between trades at a stock exchange, volume transactions,...