“The model is wrong!” so it is determined. All of the estimated output using the model becomes un-reliable immediately. And so is every other result calculated using the un-reliable output. So what is the impact of the model being “wrong” in the later calculations? To address this...

No silver bullet exists to improve cost recovery or water use efficiency of irrigation systems. However, many countries provide examples of successful reforms that policymakers and system managers can draw upon for inspiration and ideas. A successful system will have the appropriate mix of...

We study a principal-agent problem of two general S-shaped utilities without explicit expressions, where the two parties have different reference points. The problem typically stands in the context of asset management with motivation to safeguard the benefit of the principal. After a thorough...

Using an instrumental variable approach that exploits an exogenous variation of passive institutional ownership caused by Russell 1000/2000 index reconstitution, we find that greater passive institutional ownership leads to improvement in corporate innovation measured by patent quantity and...

We show novel empirical evidence on the significance of output volatility (vol) shocks for both currency and international quantity dynamics. Focusing on G-17 countries, we document that: (1) consumption and output vols are imperfectly correlated within countries; (2) across countries,...

Analysis and modelling of the daily observations is of the interest for both academic and practical needs during the worst public health crisis in decades. In this paper we propose a Boosting-based Quantile Autoregressive Tree (BQART) model to estimate the evolution in reported cases and...