This paper uses nonparametric kernel methods to construct observation-specific elasticities of substitution for a balanced panel of 73 developed and developing countries to examine the capital-skill complementarity hypothesis. The exercise shows some support for capital-skill complementarity,...

The relationship between executive pay and corporate financial performance continues to attract wide academic, media and policy attention. The very high salaries enjoyed by senior executives in corporations in the US are often contrasted with the relatively low pay received by executives in...

The relationship between executive pay and corporate financial performance con-tinues to attract wide academic, media and policy attention. The very high salariesenjoyed by senior executives in corporations primarily in the North American coun-tries are often contrasted with the relatively low...

While the traditional R value is useful to evaluate the quality of a fit, it does not work when it comes to evaluating the predictive power of estimated financial models in finite samples.

Economists use partial and general equilibrium trade simulation models toestimate the impact of changes in domestic policies and international trade rules.During the WTO Doha Development Agenda (DDA) negotiations economists haveproduced many different estimates of the gains that would result...

Models are studied where the response Y and covariates X, T are assumed to fulfill E(Y

We consider problems in modelling job-matching in the Czech Republic during the transition to a market economy. Special interest is devoted to functional form considerations and the analysis of returns to scale of the matching function. This explorative study aims to shed some light into the...

We consider an additive model with second order interaction terms. It is shown how the components of this model can be estimated using marginal integration, and the asymptotic distribution of the estimators is derived. Moreover, two test statistics for testing the presence of interactions are...

The aim of this paper is to provide an alternative way of specification and estimation of a labor supply model. The proposed estimation procedure can be included in the so called predicted wage methods and its main interest is twofold. First, under standard assumptions in studies of labor...