Economics - Research Publications
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ItemOpportunities and Challenges for CGE Models in Analysing Taxation(WILEY, 2018-03-01)
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ItemTime series copulas for heteroskedastic data(WILEY, 2018-04-01)
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ItemEnvironmental Water Efficiency: Maximizing Benefits and Minimizing Costs of Environmental Water Use and Management(WILEY, 2018)Environmental water management is a relatively new discipline, with concepts, management practice and institutional mechanisms that are still emerging. The efficient and effective use of environmental water to maximize environmental benefits, or environmental water use efficiency, is one such emerging concept. Currently, much of the focus is on allocative efficiency, where the objective is to achieve a better balance between consumptive and environmental water uses in a cost‐effective way. However, this may not provide the most efficient and effective way to manage environmental water in the long term, where managers are seeking productive (or operational) efficiency. Here, the objective is to maximize environmental outcomes relative to the cost of managing the available resource. This paper explores the concept of water use efficiency in the context of environmental water.
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ItemSurprised by the Hot Hand Fallacy? A Truth in the Law of Small Numbers(Econometric Society, 2018-11-01)We prove that a subtle but substantial bias exists in a common measure of the conditional dependence of present outcomes on streaks of past outcomes in sequential data. The magnitude of this streak selection bias generally decreases as the sequence gets longer, but increases in streak length, and remains substantial for a range of sequence lengths often used in empirical work. We observe that the canonical study in the influential hot hand fallacy literature, along with replications, are vulnerable to the bias. Upon correcting for the bias, we find that the longstanding conclusions of the canonical study are reversed.
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ItemPolicy Forum: Cryptocurrencies Introduction(WILEY, 2018-12-01)
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ItemRatios of Parameters: Some Econometric Examples(WILEY, 2018-12-01)Ratios of parameter estimates are often used in econometric applications. However, constructing confidence intervals (CIs) for these ratios can cause difficulties since the ratio of asymptotically normally distributed random variables are Cauchy distributed and thus have no finite moments. This article presents a method for the estimation of CIs based on the Fieller approach that has been shown to be preferable to the usual Delta method. Using example applications in Stata and R, we demonstrate that a few extra steps in the examination of the estimate of the ratio can provide a CI with superior coverage.
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ItemEffects of supermarket monopsony pricing on agriculture(WILEY, 2018-10-01)
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ItemPolicy Forum: Economics and Populism Introduction(WILEY, 2018-09-01)
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ItemPolicy Options to Reduce Electricity Greenhouse Gas Emissions(WILEY, 2018-12-01)