Over the last twenty years or so the Dynamic Volatility literature has produced a wealth of univariateand multivariate GARCH type models. While the univariate models have been relativelysuccessful in empirical studies, they suffer from a number ofweaknesses, such as unverifiable...

The unit root revolution in time series modeling has created substantial interest in non-stationarity and its implications for empirical modeling. Beyond the original interest in trend vs.di¤erence non-stationarity, there has been renewed interest in testing and modeling structuralbreaks. The...

Ross Levine and David Renelt’s (LR) paper [1992] investigate the “robustness” of the relationship between growth, investment, and variables of interest using Leamer’s [1985] Extreme Bounds Analysis (EBA). LR claim that few economic variables have a robust relationship with either long-run...

Using levels of democratic development as a proxy for economic development, and using a 2SLS GMM dynamic panel estimation methodology, we investigate the degree and direction of dissemination in the volatility of economic growth. Our findings indicate two essential points. First, there are...

These papers analyze two issues in resource economics that are currently debated in academic and policy arenas: global warming and overcompliant behavior amongst regulated sources of water pollution.The first paper examines the evidence for global warming in particular, the published estimates...

This dissertation is an investigation into the determinants of demand for service contracts on new vehicles. In the first chapter, I characterize the consumer decision to buy a service contract with a discrete choice model. Hypotheses and conjectures are tested empirically using survey data from...

The paper questions the appropriateness of the practice known as 'error-autocorrelation correcting' in linear regression, by showing that adopting an AR(1) error formulation is equivalent to assuming that the regressand does not Granger cause any of the regressors. This result is used to...