We propose marginal integration estimation and testing methods for the coefficients of varying coefficient multivariate … regression model. Asymptotic distribution theory is developed for the estimation method which enjoys the same rate of convergence … as univariate function estimation. For the test statistic, asymptotic normal theory is established. These theoretical …

Estimation …

We introduce a new method for the estimation of discount functions, yield curves and forward curves from government … although we do show how to impose various restrictions in the estimation. Our method is based on Kernel smoothing and is … our estimation procedure is iterative, rather like the backfitting method of estimating non-parametric models. We …

not invariant with respect to the investigated sample period. -- Purchasing power parity ; Panel cointegration ; Wild …

world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing … contributes to the polarization of the world income distribution. -- economic growth ; neoclassical convergence ; technological …