This paper provides a new model that disentangles firm effects from persistent (time-invariant/long-term) and transient (time-varying/short-term) technical inefficiency.

This paper estimates the U.S. import demand for crude oil from Mexico. The analysis is based on time series from January 1990 to December 2010. Time series properties of the processes that generate the data are assessed in order to specify the order of integration for each series. According to...

Bayesian implementation concerns decision making problems when agents have incomplete information. This paper proposes that the traditional sufficient conditions for Bayesian implementation shall be amended by virtue of a quantum Bayesian mechanism. In addition, by using an algorithmic Bayesian...

This paper proposes an interpretation theoretical model of the Aufbau of Rudolf Carnap, this interpretation contributes to upgrade the project original carnapian, in the sense of conferring to the constitutional program of construction logical, less committed analytic equipment with an ontology...

This paper estimates the dynamics of the personal-bankruptcy rate over the business cycle by exploiting large cross-state variation. We find that bankruptcy rates are significantly higher than normal during a recession and rise as a recession persists. After a recession ends, there is a hangover...

Following a decline in the fundamental risk of assets, the ability of banks to expand the balance sheet under a Value-at-Risk constraint in- creases (as in Adrian and Shin (2010)), boosting the bank’s incentives to provide costly monitoring effort that prevents asset deterioration. On the...

A new computational approach to identification for models of inverse dynamic problem has been proposed. It is based on robust econometric difference and integral identification algorithms. Their approbation is made on real statistical data for n-industrial open macroeconomic system. All models...

The aim of our research is to study the association between observed leverage and a set of explanatory variables, using panel data analysis to establish the determinants of a time varying optimal capital structure from new high-tech firms over the period 1998-2002, and to explore whether the...

This paper explores optimal biofuel subsidization in the context of a general equilibrium trade model. The focus is on biofuels such as corn-based ethanol, which diverts corn from use as food to use as an intermediate input in energy production. In the small-country case, when a Pigouvian tax on...

In this paper we look at the interplay of technology and social preferences in different stages of economic development. We use a set of input-output tables for 32 different countries, published by OECD. The tables refer to the period 1996-2001 and were consolidated in 48 sectors so that...