Referendum design and contingent valuation: the NOAA panel's no-vote recommendation
Article Abstract:
Subjects selecting the 'would-not-vote' (WNV) option in contingent valuation (CV) questions would be most likely to choose a vote 'against' when the WNV option is not offered. When WNV responses are treated as vote 'against' the program, the WNV option does not affect the distribution of 'for' and 'against' answers and the estimates of willingness to pay derived from such choices. The given situation also does not influence the construct validity of the results of the referendum.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
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Modeling the demand for M3 in the unified Germany
Article Abstract:
An error correction model was created to illustrate the demand for real M3 money in the unified Germany. The model, which covers the period of 1976 to 1994, showed the presence of a clear structural break that can be attributed to German unification in 1990. Consideration of such structural break leads to the creation of a stable relation that can withstand a series of specification tests.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
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