I propose a Bayesian approach to making an inference about complicated patterns of structural breaks in time series. Structural break models in the literature are mainly considered for a simple case in which all the ...

We propose a game theoretical model to assess the capacity of Catalonia to become a recognized, independent country with at least a de facto European Union (EU) membership. Support for Catalan independence is increasing ...

We raise the possibility that at least some of the free trade areas observed in practice are customs unions in disguise. We distinguish between generalized and standard customs unions. While members of the former can choose ...

This paper analyzes the life-cycle career costs associated with child rearing and decomposes their effects into unearned wages (as women drop out of the labor market), loss of human capital, and selection into more ...

We test the effectiveness of Bank of Japan (BOJ)’s foreign exchange interventions on conditional first and second moments of exchange rate returns and traded volumes, using a bivariate EGARCH model of the Yen/USD market ...

The empirical literature is divided over the issue of whether child care costs are a significant barrier to female employment. In this paper we develop a theoretical model that contributes to the literature (1) by allocating ...

Recent literature on a classical cross-dual dynamics has argued the need to supplement these dynamics with short-run dual adjustments interpreted, for the most part, as Keynesian. This paper provides a critique of the ...