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Heteroskedasticity and serial correlation in tests for rational expectations and/or simple market efficiency: A white-type approach
The simple market efficiency hypothesis implies that prediction errors, such as forward less spot exchange rates, will be orthogonal to elements of the information set. One can therefore test for market efficiency via ...
The economics of undocumented immigration: Mexican participation in the U.S. labor market
This study addresses the impact of Mexican illegal immigration on the U.S. labor market. It constitutes a first step towards developing rigorous structural econometric models that empirically analyze undocumented labor ...