Publications

List of Publications

Leon-Gonzalez, R., & Majoni, B. (2023). Exact Likelihood for Inverse Gamma Stochastic Volatility Models.  Journal of Time Series   Analysis  2024 Dec 2, doi.org/10.1111/jtsa.12795.

Leon-Gonzalez R, Majoni B. (2024) Approximate Factor Models with a Common Multiplicative Factor for Stochastic Volatility.    

    (forthcoming)  Studies in Nonlinear Dynamics & Econometrics. The working paper is  available at doi.org/10.24545/0002000095   

Majoni, B. (2021). VAT Withholding Tax and its Impact on VAT Compliance: Evidence from the Zimbabwe Revenue Authority. African Multidisciplinary Tax Journal, 2021(1), 228-243.  doi.org/10.47348/AMTJ/2021/i1a13   

Job Market Paper

Majoni, B. (2024) Generalized Common Inverse Gamma Stochastic Volatility Factor Models in Vector Autoregressions.

The most recent version of the paper can be accessed from here

Working Papers

Majoni, B. (2024). Integrating Deep Learning and Inverse Gamma Stochastic Volatility Models in Forecasting Climate-Induced Losses. Work in Progress.

Abstract: 

This study proposes a hybrid modeling framework that integrates deep learning techniques with inverse gamma stochastic volatility 

(SV) models to forecast disaster-related economic losses. The SV models explicitly capture time-varying volatility and uncertainty in 

loss-generating processes, while deep neural networks handle complex nonlinear pattern recognition and enhance predictive 

performance. Root Mean Squared Error (RMSE) and multivariate regression comparisons will be used to evaluate the model’s 

performance. The envisioned outcome is a forecasting system that is both accurate and interpretable, supporting improved climate 

adaptation strategies in vulnerable regions.

Work In Progress

Asymmetric volatility and Climate Shocks: Modeling Non-Gaussian Dependencies.