As in agriculture uncertainties have increased due to extreme weather events and yield variations, a critical examination of crop rotation strategies is needed. This study analyses the relationship between risk and crop rotation planning, addressing the challenges posed by an increasing yield...

This paper argues that the common practice of Bayesian estimation in applied macroeconomic DSGE modeling can lead to severely biased results when the imposed prior beliefs are misspecified. We demonstrate, through controlled Monte Carlo experiments on two canonical DSGE models (a Real Business...

We propose a novel dynamic panel estimator. Different from the commonly used difference and system GMM, our proposed estimator requires only one of the crosssectional dimension (N) or the time dimension (T) to grow large to be asymptotically unbiased. This improves reliability in panels with...

Background: The vehicle routing problem (VRP) is of great importance in the Industry 4.0 era because enabling technologies such as the internet of things (IoT), artificial intelligence (AI), big data, and geographic information systems (GISs) allows for real-time solutions to versions of the...

Background: Rapid helicopter air ambulance (HAA) response is a cornerstone of emergency medical logistics, yet the "time-to-care" metric remains highly sensitive to uncertainties in base posture, readiness, and operational disruptions. This study evaluates how these factors jointly influence...

Background: Rapid helicopter air ambulance (HAA) response is a cornerstone of emergency medical logistics, yet the "time-to-care" metric remains highly sensitive to uncertainties in base posture, readiness, and operational disruptions. This study evaluates how these factors jointly influence...

We present the R package MSTest, which implements hypothesis testing procedures to determine the number of regimes in Markov switching models. These models have wide ranging applications in economics, finance, and many other fields. MSTest provides several testing frameworks, including Monte...

Statistical inference-both estimation and testing-for stochastic volatility (SV) models is known to be challenging and computationally demanding. We propose simple and efficient estimators for SV models with conditionally heavy-tailed error distributions, particularly the Student's t and...

Highly volatile, uncertain, complex and ambiguous environments (VUCA) complicate and condition project management. With the emergence of agile project management, it is proposed to co-construct it with the client's active participation. Two used agile methodologies are Scrum and Kanban. Scrum is...

Introduction -- Teaching Applied Econometrics -- Reflections on the Teaching of Bayesian Econometrics -- Teaching Financial Econometrics to Students Converting to Finance -- Teaching Panel Data Econometrics -- The Harm that Good Teachers Do and Other Stories -- Teaching Reproducibility and...

We investigate a bracketing property that purports to yield upper- and lower bounds on the treatment effects obtained from a fixed effects- and lagged dependent variable model. Referencing both analytical results and a Monte Carlo simulation, we explore the conditions under which the bracketing...

"SimDec is a revolution in decision-making support. SimDec "teases out" inherent cause-and-effect relationships and reveals the intricacy of relationships between sets of input and output variables. At its core, SimDec is an amalgamation of uncertainty and global sensitivity analysis with an...

A popular approach to perform inference on a target parameter in the presence of nuisance parameters is to construct estimating equations that are orthogonal to the nuisance parameters, in the sense that their expected first derivative is zero. Such first-order orthogonalization may, however,...

This study distinguishes between observed, uncertain, and stochastic uncertain firm growth. Observed firm growth is measured via historical growth of fixed assets scaled by growth of sales revenue. Uncertain firm growth is the volatility of unobserved (estimated error terms) firm growth. The...

Estimating MRIO tables is often hindered by limited access to regional data. The paper presents a novel method for estimating interregional trade matrices based on a gravity-RAS approach using survey and non-survey data at different aggregation levels. The new aggregate-disaggregate-aggregate...

This paper studies a dynamic ordered logit model for panel data with fixed effects. The main contribution of the paper is to construct a set of valid moment conditions that are free of the fixed effects. The moment functions can be computed using four or more periods of data, and the paper...

This paper uses survival analysis as a tool to assess credit risk in loan portfolios within the framework of the Basel Internal Ratings-Based (IRB) approach. By modeling the time to default using survival functions, the methodology allows for the estimation of default probabilities and the...

Value-at-Risk (VaR) is a key metric widely applied in market risk assessment and regulatory compliance under the Basel III framework. This study compares two Monte Carlo-based VaR models using publicly available equity data: a return-based model calibrated to historical portfolio volatility, and...

Background: In Engineer-to-Order (EtO) supply chains, managing supplier lead times is particularly challenging due to high customization and intensive customer involvement. This study addresses the critical need for more accurate and dynamic lead time prediction to enhance supply chain...

This paper explores classical and Bayesian approaches to the estimation of unknown parameters and reliability functions for the power Rayleigh distribution. The maximum likelihood estimator (MLE) method is considered in classical estimation. The Bayesian estimation, on the other hand uses...

This study examines the use of Filtered Historical Simulation (FHS) to estimate tail risk in cryptocurrency markets for the optimization of robustness in this area under model misspecification. An ARMA-GARCH model is employed on the daily returns on Binance Coin and Litecoin in order to compare...

Aim: This study investigates foreign exchange market dynamics by forecasting and analyzing the Value-at-Risk (VaR) for the Nigerian Naira against BRICS currencies utilizing daily data from January 1, 2010 to December 31, 2024. Design/Research methods: The five BRICS currencies (BRL, RUB, INR,...

Background: Thailand is actively transitioning toward electric vehicle adoption as part of its commitment to reducing greenhouse gas emissions. This study investigates the economic feasibility of replacing diesel buses with electric buses in Thailand's public transportation sector. Methods: The...