In previous studies, measures of technical inefficiency derived from stochastic production frontiers have been estimated from residuals which are sensitive to specification errors. This study corrects for this inaccuracy by extending the doubly heteroscedastic stochastic cost frontier suggested...

In simultaneous equation models the two stage least squares (2SLS) estimator of the coefficients, though consistent, is biased in general and the nature of this bias has given rise to a good deal of research. However, little if any attention has been given to the bias that arises when an...

Asymptotic expansions are employed in a dynamic regression model with a unit root in order to find approximations for the bias, the variance and for the mean squared error of the least-squares estimator. For this purpose such expansions are shown to be useful only when the autoregressive model...

An approximation to order T-2 is obtained for the bias of the least-squares estimator in the stationary ARX model which yields generalisations of Kendall's and White's classic results for particular variants of AR(1) models. The results show that generally the second-order approximation is...

New trade theory suggests that improvements in the variety and quality of products may be as important as price competitiveness as an explanation of trade flows. This paper tests this proposition for export volumes for the G7 using relative cumulated investment as a proxy for innovation....

The paper examines asymptotic expansions for estimation errors expressed explicitly as functions of unferlying random variables. Taylor series expansions are obtained from which first and secomd moment approximationc are derived. While the expansions are essentially equivalent to the traditional...