In three essays, farmer preferences are analyzed using Contingent Valuation and Choice Modeling. Particular attention is paid to the role of uncertainty, investment in human capital and the importance of forest conservation. The data analyzed in each of the three essays was collected by the...

The recognition that policies aimed at “getting prices right” in less developed countries werefailing due to incomplete markets has spurred a new wave of reforms, directed instead at“getting markets and institutions right”. Although previous studies have documented thepotentially crucial...

This study investigates the implications of firm's demand for real balances from the production and monetary economics perspective. Money is a component of production as a factor increasing efficiency in exchange in input markets. Firms may improve efficiency in production by holding real money...

The three essays of this thesis research model selection and estimation issues in financial econometrics. Special attention is given to comparing various approaches used previously in the literature and attempting to compare their out-of-sample performance. Chapter two explores the value of...

In stochastic volatility models, the unit root test on the time series of the unobserved log-volatilities may be performed by applying the commonly usedfrequentist unit root tests. For instance, augmented Dickey Fuller tests based on the log-squared meancorrected returns can be used. The...

The purpose of this research has been to look into several econometric issues of concern to researchers doing applied work in macroeconomics. The first essay looks at Bureau of Economic Analysis data on inventories and sales of finished goods often used in studies of inventory behavior. Applying...