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Post-crisis cost efficiency of Jamaican banks

Daley, Jenifer; Matthews, Kent; Zhang, Tiantian - 2011

to survive. We employ the Simar-Wilson (2007) two-step double bootstrap Data Envelopment Analysis method to measure …

Persistent link: https://www.econbiz.de/10009377254

Testing macro models by indirect inference : a survey for users

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2015

With Monte Carlo experiments on models in widespread use we examine the performance of indirect inference (II) tests of DSGE models in small samples. We compare these tests with ones based on direct inference (using the Likelihood Ratio, LR). We find that both tests have power so that a...

Persistent link: https://www.econbiz.de/10011317836

Can a real business cycle model without price and wage stickiness explain UK real exchange rate behaviour?

Meenagh, David; Minford, Patrick; Nowell, Eric; Sofat, … - 2010 - Updated

This paper establishes the ability of a Real Business Cycle model to account for real exchange rate behaviour, using UK data. We show that a productivity simulation is capable of explaining initial real appreciation with subsequent depreciation to a lower steady state. The model is tested by the...

Persistent link: https://www.econbiz.de/10011517836

Small sample performance of indirect inference on DSGE models

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2015

Using Monte Carlo experiments, we examine the performance of indirect inference tests of DSGE models in small samples, using various models in widespread use. We compare these with tests based on direct inference (using the Likelihood Ratio). We find that both tests have power so that a...

Persistent link: https://www.econbiz.de/10010470917

Testing DSGE models by indirect inference and other methods : some Monte Carlo experiments

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2012

Using Monte Carlo experiments, we examine the performance of Indirect Inference tests of DSGE models, usually versions of the Smets-Wouters New Keynesian model of the US postwar period. We compare these with tests based on direct inference (using the Likelihood Ratio), and on the Del...

Persistent link: https://www.econbiz.de/10009563550

Monte Carlo experiments on bootstrap DEA

Tziogkidis, Panagiotis - 2012

Since the introduction of bootstrap DEA there is a growing literature on applications which use this method, mainly for … hypothesis testing. It is therefore important to establish the consistency and evaluate the performance of bootstrap DEA. The few … coverage probabilities are not a good tool of assessment. In our study we evaluate the performance of bootstrap DEA using the …

Persistent link: https://www.econbiz.de/10009583702

Bootstrap DEA and hypothesis testing

Tziogkidis, Panagiotis - 2012

requirements that are not always obvious to the non-expert user. Bootstrap DEA is a significant development of the past decade …, which could be extended to test almost any hypothesis in bootstrap DEA. Moreover, it enhances the intuition behind bootstrap …

Persistent link: https://www.econbiz.de/10009583705

Testing competing world trade models against the facts of world trade

Minford, Patrick; Xu, Yongdeng; Dong, Xue - 2021

We carry out an indirect inference test of two versions of a computable general equilibrium (CGE) model of world trade. One of these, the ‘classical’ model,is well-known as the Heckscher-Ohlin-Samuelson model of world trade, in which countries trade homogeneous products in world markets and...

Persistent link: https://www.econbiz.de/10012602338

Classical or gravity? : which trade model best matches the UK facts?

Minford, Patrick; Xu, Yongdeng - 2017

We examine the empirical evidence bearing on whether UK trade is governed by a Classical model or by a Gravity model, using annual data from 1965 to 2015 and the method of Indirect Inference which has very large power in this application. The Gravity model here differs from the Classical model...

Persistent link: https://www.econbiz.de/10011758969

Computable general equilibrium models of trade in the modern trade policy debate

Chen, Gang; Dong, Xue; Minford, Patrick; Qiua, Guanhua; … - 2021

We set up two rival Computable General Equilibrium (CGE) models of world trade, one based on classical theories of comparative advantage, the other based on recent gravity theories. We have tested them by indirect inference on the time-series of trade facts for five major countries or country...

Persistent link: https://www.econbiz.de/10012591945