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A Note on the Practice of Lagging Variables to Avoid Simultaneity

Reed, W. Robert - Department of Economics and Finance, College of … - 2013

A common practice in applied econometrics consists of replacing a suspected endogenous variable with its lagged values. This note demonstrates that lagging an endogen¬ous variable does not enable one to escape simultaneity bias. The associated estimates are still inconsistent, and hypothesis...

Persistent link: https://www.econbiz.de/10010907403

On the Practice of Lagging Variables To Avoid Simultaneity

Reed, W. Robert - Department of Economics and Finance, College of … - 2014

A common practice in applied economics research consists of replacing a suspected simultaneously-determined explanatory variable with its lagged value. This note demonstrates that this practice does not enable one to avoid simultaneity bias. The associated estimates are still inconsistent, and...

Persistent link: https://www.econbiz.de/10010907405

A Replication of "The Political Determinants of Federal Expenditure at the State Level (Public Choice, 2005)

Douglas, Stratford; Reed, W. Robert - Department of Economics and Finance, College of … - 2013

This paper replicates and analyses a study by Hoover and Pecorino (2005) on federal spending in US states. H&P followed on path-breaking research by Atlas et al. (1995) in which evidence was claimed in favour of the “small state effect;” namely, that since every state is represented by two...

Persistent link: https://www.econbiz.de/10010907423

REPLICATION STUDY: Hoover and Pecorino (Public Choice, 2005)

Douglas, Stratford; Reed, W. Robert - Department of Economics and Finance, College of … - 2013

This paper replicates and analyses a study by Hoover and Pecorino on Federal spending in US states (Hoover and Pecorino, 2005; henceforth H&P). H&P followed on path-breaking research by Atlas et al. (1995) in which evidence was claimed in favour of the “small state effect;” namely, that since...

Persistent link: https://www.econbiz.de/10010907431

Robust Estimation and Forecasting of the Capital Asset Pricing Model

Bian, Guorui; McAleer, Michael; Wong, Wing-Keung - Department of Economics and Finance, College of … - 2010

In this paper, we develop a modified maximum likelihood (MML) estimator for the multiple linear regression model with underlying student t distribution. We obtain the closed form of the estimators, derive the asymptotic properties, and demonstrate that the MML estimator is more appropriate for...

Persistent link: https://www.econbiz.de/10008692053

REPLICATION STUDY: Toya and Skidmore (Economics Letters, 2007

Reed, W. Robert; Mercer, Robert - Department of Economics and Finance, College of … - 2013

This study replicates the empirical findings of Toya and Skidmore (2007), hereinaf¬ter “TS”, and performs a variety of robustness checks. We are able to exactly replicate the find¬ings reported by TS. Our robustness checks consist of two parts. Firstly, we update TS’s orig¬in¬al data...

Persistent link: https://www.econbiz.de/10010608702

A Romerian Contribution to the Empirics of Economic Growth

Sağlam, Bahar Bayraktar; Yetkiner, I. Hakan - 2012

speed of convergence. Subsequently, in almost all convergence studies, an exogenously growing technology is assumed and this … to R&D activities. We estimate the convergence equation derived from Solovianized Romer model for 31 OECD countries for … convergence hypothesis, but predicts a much lower convergence rate (0.01) than that predicted by the existing empirical growth …

Persistent link: https://www.econbiz.de/10011807211

Defense Spending and Economic Growth:A Theoretical Manifestation for Empirical Studies

Yetkiner, I. Hakan - 2012

Defense literature is still in need of a theoretical framework in the neoclassical sense, in regard to empirical research on the relationship between defense spending and economic growth. In this respect, Dunne, Smith and Willenbockel (2005), although not without technical problems, represented...

Persistent link: https://www.econbiz.de/10011807212

Regional economic dynamics and convergence in the european union

Bazo, Enrique Lopez; Valcarce, Esther Vaya; Mora, … - Facultat d'Economia i Empresa, Universitat de Barcelona - 1997

regional level. The convergence process observed until the late seventies was exhausted onwards in coincidence with important … (in our opinion) richer approach to the traditional convergence analysis, where the evolution of the whole regional … convergence analysis. …

Persistent link: https://www.econbiz.de/10005022373

Growth and externalities across economies. An empirical analysis using spatial econometrics

Valcarce, Esther Vaya; Bazo, Enrique Lopez; Serrano, … - Facultat d'Economia i Empresa, Universitat de Barcelona - 2000

. We assess the role of these external effects in explaining growth and economic convergence. We present a simple growth …

Persistent link: https://www.econbiz.de/10005022389