Download or read book Three Essays in Applied Econometrics written by Emel Oylum Yildirim and published by . This book was released on 2011 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation presents three essays which are linked by the use of econometric models to explain problems that are only explained descriptively in the literature. The first essay, statistically shows that a systematic measurement bias can significantly distort predictions obtained using an international accounting framework due to the sizable diversity of the parties involved in it. Once the measurement bias is taken into account, the average value gains on the US foreign asset and liability categories are estimated to be smaller, and no evidence is found on positive yield differential. The second essay estimates the value gains and the mismeasurement using data at multiple frequencies. The results show that positive sizable return differential is present after 2002. The third essay shows that the increasing availability of prescription opioids threatens sellers' profit margin since it is a close substitute for heroin and forces sellers to find alternative methods to compensate buyers in the case of a negative supply shock.