In this paper a novel partitioned inversion formula is obtained in terms of the orthogonal complements of off-diagonal blocks, with the emblematic matrix of unit-root econometrics springing up as the leading diagonal block of the inverse. On the one hand, the result paves the way to a...

Any attempt to operationalise the capability approach necessitates an adequate framework for the measurement of the abstract unobservable multidimensional concept that the term human development stands for. One such attempt is the latent variable approach including principal components, factor...

In the framework of generalized linear models, the nonrobustness of classical estimators and tests for the parameters is a well known problem and alternative methods have been proposed in the literature. These methods are robust and can cope with deviations from the assumed distribution....

In this study, we explore the relationship between the rank of a demand system and the estimation results both in terms of consumption behaviour and more importantly in terms of welfare analysis. Money-metric utility levels given by equivalent expenditures are taken as welfare indicators for...

Declines of many North American birds are of conservation concern. Monitoring their population changes has largely depended on formally structured Breeding Bird Surveys, and Migration Monitoring Stations, although some use has been made of lists by birders. For almost 40 years, birders have kept...

We analyze the discrimination power of well-known model selection criteria when R2 is low as in typical asset return predictability studies. We find that the discrimination power is low in this setup and in particular give another interpretation to the well-cited Bossaerts and Hillion (1999)...