Avoiding misspecifications and improving efficiency in hedonic and consumption models: applications of semiparametric methods.

The objective of this thesis is to avoid misspecifications and to seek efficiency improvements in cross sectional and time series econometric applications using semiparametric methods. We restrict our attention to single equation models and the use of conditional moment restrictions as well as maximum likelihood methods. The first part of the thesis deals with cross sectional studies on the United Kingdom car market and the second part deals with time series studies of the United States consumption function. There are five main contributions of the thesis. First of all, we have suggested minor extensions of existing semiparametric models; secondly, we have suggested the use of a dimensional reduction method prior to nonparametric estimation; thirdly, we have investigated the use of various rules of subjective and automatic bandwidth selection methods using real and simulated data; fourthly, we have suggested a new approach to overcome problems in the hedonic approach for cross sectional studies,; and finally, we have established a relationship between expected real interest rate and consumption using US time series data

Asian CBDCs on the rise: An in-depth analysis of developments and implications

In this paper, we present an in-depth analysis of Central Bank Digital Currencies (CBDCs), focusing on their definition, purpose, design considerations and recent developments. We also delve into the potential advantages of CBDCs for Asia, such as enhancing convenience, precisely quantifying economic metrics, managing anonymity, catalyzing innovation, and promoting financial inclusion. Moreover, we examine how CBDCs can fortify monetary and fiscal policies, ensure safe distribution, reduce costs and combat corruption. We also address the risks associated with CBDC adoption in Asia and explore potential outcomes such as substitution effects, valuation fluctuations, and foreign currency dependence, while highlighting the importance of managing financial imbalances, holdings concentration and public apprehension toward digital currencies