作者：Coppejans, M
作者单位：Duke University
摘要：We consider expectations of the form E[log y\x] = Sigma(j=1)(d) alpha(j) log x(j) as a good starting point for a more general analysis. We show why this naturally leads to the following flexible functional form: E[y\x] = f(Sigma(j=1)(d) h(j)(x(j))), where (f.) and the h(j)(.)'s are estimated by cubic splines. The main objective of this paper is to provide a straightforward method to estimate E[y\x]. We demonstrate the usefulness of this approach by estimating gasoline demand from the 1994 RTEC...
作者：Bui, LTM; Mayer, CJ
作者单位：Boston University; University of Pennsylvania
摘要：Environmental regulation in the United States has undergone a slow evolution from command and control strategies towards market-based regulations. One such innovation is the Toxics Release Inventory (TRI), a regulation that requires polluting firms to publicly disclose information about their toxic emissions. The basic tenet of this regulation is that it corrects for informational asymmetries between polluters and households, allowing communities to pressure polluters to decrease their emissio...
作者：Estrella, A; Rodrigues, AP; Schich, S
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Organisation for Economic Co-operation & Development (OECD); Deutsche Bundesbank
摘要：Empirical research over the last decade has uncovered predictive relationships between the slope of the yield curve and subsequent real activity and inflation. Some of these relationships are highly significant, but their theoretical motivations suggest that they may not be stable over time. We use recent econometric techniques for break testing to examine whether the empirical relationships are in fact stable. We consider continuous models, which predict either economic growth or inflation, a...
