The two-stage least squares simultaneous equation estimation procedure is shown to be identical to the modified two stage least squares estimator obtained by a) replacing the right-hand side endogenous variable in a single structural equation by their reduced form regression estimates; and b)...

This paper examines practical procedures for obtaining generalized ridge-type estimators of a standard linear regression model. The analysis is specialized to the single 'k' model and this is compared to a procedure recently proposed by McDonald and Galarneau (1975).

This paper examines how the distribution of household wealth in Canada varies with age over the life cycle. The wealth distribution is characterized in terms of decile means and decile shares for each of six age groups, and comparisons between age-specific distributions are based on first- and...

This paper considers the problem of statistical inference with estimated Lorenz curves and income shares. The asymptotic distribution of a vector of Lorenz curve ordinates corresponding to a set of cdf abscissa values is shown to be normal with a variance-covariance structure that depends only...

This paper develops an exact maximum likelihood technique for estimating regression equation with general p'th order autoregressive disturbances. Recent expression of the analytic inverse of the covariance matrix of a stationary AR(p) process provide the basis for an iterative, modified...

This paper applies the recent theoretical method of Richmond (1982) on estimating joint confidence intervals to the case of Lorenz curves. Using the results of Beach and Davidson (1982) on the asymptotic distribution of a vector of Lorenz curve ordinates, the paper provides joint confidence...

The widely used Cochrane-Orcutt and Hildreth-Lu procedures for estimating the parameters of a linear regression model with first-order serial correlation typically ignore the first observation. An alternative maximum likelihood procedure is recommended in this paper. This procedure is preferable...

This paper reexamines Feldstein's (1974) results of the effect of social security on private capital accumulation in the context of a simultaneous-equation model. The model incorporates dynamic feedback effects and is estimated by FIML to incorporate theoretical restrictions that are tested...