Integrating the governing chemistry with the genomics and phenotypes of microbial colonies has been a "holy grail" in microbiology. This work describes a highly sensitive, broadly applicable, and cost-effective approach that allows metabolic profiling of live microbial colonies directly from a Petri dish without any sample preparation. Nanospray desorption electrospray ionization mass spectrome...

This paper aims to investigate the role of each aggregate spending component in the monetary policy transmission in Indonesia. It assesses the relative strength of the role of each spending component in the monetary policy transmission. In so doing, this study employs the contribution analysis, which is calculated based on the cumulative impulse response of each component of GDP to a monetary p...

Unemployment in the OECD: Models and Mysteries This paper compares models used to explain OECD unemployment. The models suggest that the “natural rate of unemployment” has been driven up mainly by wage push factors. Panel data on twenty-two OECD countries are used to investigate the explanatory power of these models over the past two decades. Our estimates reveal that coefficients on key variab...

This chapter reviews the literature on variable selection in nonparametric and semiparametric regression models via shrinkage. We highlight recent developments on simultaneous variable selection and estimation through the methods of least absolute shrinkage and selection operator (Lasso), smoothly clipped absolute deviation (SCAD) or their variants, but restrict our attention to nonparametric a...

This note conducts a simulation study of parameter-stability tests using conditional cointegrated vector autoregressive (CVAR) models. Monte Carlo experiments show that, in small samples, the stability tests based on conditional CVAR models under the assumption of weak exogeneity are more powerful than those based on a joint CVAR model; the reverse is observed, however, when the assumption does...

We propose a methodology for constructing confidence regions with partially identified models of general form. The region is obtained by inverting a test of internal consistency of the econometric structure. We develop a dilation bootstrap methodology to deal with sampling uncertainty without reference to the hypothesized economic structure, and apply a duality principle to reduce the dimension...

This paper attempts to quantify the effect of skill shortages on the UK labour market by developing a simultaneous equation model of unemployment and real wage growth. The model is developed following a structural approach based on a priori economic information and is initially estimated using a two-stage least squares procedure. The model is also estimated using Zellner’s seemingly unrelated r...

This paper assesses the finite sample refinements of the block bootstrap and the Non-Parametric Bootstrap for conditional moment models. The study recononsiders inference in the generalized method of moments estimation of the consumption asset pricing model of Singleton (1986). These dependent bootstrap resampling schemes are proposed as an alternative to the asymptotic approximation in small s...

This paper develops a Bayesian quantile regression model with time-varying parameters (TVPs) for forecasting inflation risks. The proposed parametric methodology bridges the empirically established benefits of TVP regressions ability to flexibly whole distribution inflation. In order make our approach accessible and relevant forecasting, we derive an efficient Gibbs sampler by transforming stat...

We combine Nagel’s “step-k” model of boundedly rational players with a “law of effect” learning model. Players begin with a disposition to use one of the step-k rules of behavior, and over time the players learn how the available rules perform and switch to better performing rules. We offer an econometric specification of this dynamic process and fit it to Nagel’s experimental data. We find tha...