This paper focuses on the exposure of common stocks to inflation risk and assesses the impact of this exposure on portfolio choice. We show that the relation between real stock returns and inflation rates, as well as the parameter uncertainty involved with this relation, has substantial...

This paper shows that positive correlation between project outcomes may improve the efficiency of microfinance group lending contracts.

Statistical inference from truncated height data is often based on distributional assumptions. In this paper we analyze a data set of over 23,000 conscript height observations, covering nearly all conscripts in Drenthe, a province of the Netherlands, over the period 1826-1860. The data do not...

We test the efficiency of estimators proposed for truncated height samples with a new data set of over 23,000 height observations covering nearly all conscripts in Drenthe, a province of the Netherlands, over the period 1826-1860. We find that the `best' estimator, truncated ML, in its...