There is considerable concern whether the decline in stock market returns will eventually exert negative changes in the productivity data. This paper examines the long run, or the equilibrium, relationship between productivity and stock returns for the 1951-2002 period. It introduces the notion...

The frequently used approach to the comparison of two linear regression models is to use the partial F test. It is pointed out in this paper that the partial F test has in fact a naturally associated two-sided simultaneous confidence band, which is much more informative than the test itself. But...

Partial F tests play a central role in model selections in multiple linear regression models. This paper studies the partial F tests from the view point of simultaneous confidence bands. It first shows that there is a simultaneous confidence band associated naturally with a partial F test. This...