Monthly seasonally unadjusted data can exhibit roots with possibly fractional orders of integration, corresponding to the monthly but also to the quarterly and to the long-run or trending components of the series. In this paper we use a procedure which is suitable to test simultaneously for the order of integration of each of these components and apply it to several US monetary aggregates. JEL ...

We develop a selective entry model for first-price auctions that nests several models earlier proposed in the literature, and features a pro-competitive selection effect. The selection effect is shown to be nonparametrically identifiable, and a nonparametric test for its presence is proposed. In the empirical application to highway procurement, we find that the selection effect overwhelms the a...

This paper proposes a simple direct testing procedure to distinguish a linear unit root process from a globally stationary three-regime self-exciting threshold autoregressive process. We derive the asymptotic null distribution of the Wald statistic, and show that it does not depend on unknown fixed threshold values. Monte Carlo evidence clearly indicates that the exponential average of the Wald...

In this paper I use extensive spatial variation in end-of-communism local skill endowment to test for the presence of human capital spillovers and to understand the regional variation in returns to education in a transition country — the Czech Republic. The evidence is consistent with a tendency of skill-intensive production to locate in areas relatively abundant in skills, but I find no eviden...

JEL classification: C65, D63, D71, D81 Mathematics Subject Classification (2000): 91B16

Our research is a variant of the third party punishment game. In particular, we want to test whether players have heterogeneous preferences; the levels of the sanction and of the transfer are proportional to the unfairness of the Dictator; the change of the role influences the Observer’s reaction to unfair behavior; players’ decision to punish the Dictator and/or to help the Receiver depends on...

This study assessed whether dopamine in the dorsomedial striatum is necessary for flexible adaptation to changes in stimulus-response contingencies. As KW-6002 (Istradefylline), an adenosine A(2A) antagonist, improves motor deficits resulting from striatal dopamine depletion, we also tested for potential ameliorative effects of KW-6002 on dopamine depletion-induced cognitive deficits. Male List...

To expand CERN testing capability to superconducting devices that cannot be installed in existing test facilities because of their size and/or mass, CERN is building a new cryogenic test facility for large and heavy devices. The first devices to be tested in the facility will be the S-FRS superconducting magnets for the FAIR project that is currently under construction at the GSI Research Cente...