Regression analyses of cross-country economic growth data are complicated by two main forms of model uncertainty: the uncertainty in selecting explanatory variables and the uncertainty in specifying the functional form of the regression function. Most discussions in the literature address these problems independently, yet a joint treatment is essential. We perform this joint treatment by extend...

We present a novel argument demonstrating that when trade is characterized by uncertainty the comparative advantages doctrine is misleading and a positive level of diversification is growth enhancing. Applying a result developed in the mathematical biological literature, we show that, in Ricardian trade model in which capital available for investment depends on previous periods returns, incompl...

This note shows that differences (across sectors or regions) in the effective price of inputs results in low measured total factor productivity (TFP).

This paper presents a methodology for assessing the confidence and the predictive capability of prognosis models, using the application of fatigue crack growth analysis. Structures with complicated geometry and multi-axial variable amplitude loading conditions are considered. Several models – finite element model, crack growth model, retardation model, surrogate model, etc. – are efficiently co...