This paper discusses two longstanding questions in growth econometrics which involve multiple hypothesis testing. In cross sectional GDP growth regressions many variables are simultaneously tested for significance. Similarly, when investigating pairwise convergence of output for $n$ countries,...

Using PIRLS (Progress in International Reading Literacy Study) data, we investigate which countries' schools can be be classified as significantly better or weaker than Germany's as regards the reading literacy of primary school children. The `standard' approach is to conduct separate tests for...

A positive economic growth is one crucial macroeconomic objective of every nation. Many countries have formed regional as well as international trading blocs in an attempt to enhance economic growth and maximise welfare of each member state, the AFTZ member states are not an exception. This...

The asymptotic distribution of the Gaussian quasi-maximum likelihood estimator (QMLE) is obtained for a wide class of asymmetric GARCH models with exogenous covariates. The true value of the parameter is not restricted to belong to the interior of the parameter space, which allows us to derive...

An alternative to using normally distributed random effects in modeling clustered binary and ordered responses is based on using a finite-mixture. This approach gives rise to a flexible class of generalized linear mixed models for item responses, multilevel data, and longitudinal data. A test of...

We analytically investigate size and power properties of a popular family of procedures for testing linear restrictions on the coefficient vector in a linear regression model with temporally dependent errors. The tests considered are autocorrelation-corrected F-type tests based on prewhitened...

The underlying nature of forecast optimization makes the rational expectations hypothesis (REH) a framework that is theoretically consistent with the expectations formation produced by economic agents under well-defined assumptions of unbiased forecasts and efficient utilization of available...

By employing Fisher and Seater’s (1993) long-run neutrality test, the researchers tested the monetary neutrality proposition in Singapore for the period of 1980-2009. Empirical findings show that monetary neutrality does not hold in Singapore when both the simple-sum money and Divisia money...

The study of the link between debt and growth has been full of debates, both in theory and empirics. However, there is a growing consensus that the relationship is sensitive to the level of debt. Our paper tries to address the question of non linearity in the long term relationship between...