A Bayesian semi-parametric estimation of the binary response model using Markov Chain Monte Carlo algorithms is proposed. The performances of the parametric and semi-parametric models are presented. The mean squared errors, receiver operating characteristic curve, and the marginal effect are...

We compare small-sample properties of Bayes estimation and maximum likelihood estimation (MLE) of ARMA-GARCH models. Our Monte Carlo experiments indicate that in small sample, the Bayes estimator beats the MLE. We also develop a Bayes method of testing strict stationarity and ergodicity of the...

This paper talks about the Solow (10) generalized Koyck's method for distributed lags to a family of J-shaped or unimodel lag distributions given by the Pascal distributions. Jorgenson (5) advances it to what he calls the general Pascal distribution.

This paper talks about the wage-parity issue which arose in 1968 when the United Auto Workers demanded wage-parity between Canadian and American workers in the automobile industry. Also, if wage-parity is introduced, what and how severe will be its effects on the prices and on Canadian economic...

Earlier the author, together with his collegue, developed a growth model of the Canadian economy (9) which concentrated on the Gross Domestic Product (GDP) side, and from this earlier experience it was found desirable to incorporate not only the GDP side but also the gross national expenditure...

The main objective of this model is to analyse the simultaneous determination of market share and advertising expenditure under dynamic conditions. The authors' empirical analysis is applied to the case of the Eisai Company within the Japanese pharmaceutical industry from 1959 to 1969. Although...

Earlier the first author built an oligopolistic model of the American automobile firms, demonstrating the possibility of econometric model building at the firm level. In the present paper, on the basis of detailed corporate data, we advance this effort further using a more elaborate behavioral...

The present paper is an attempt to extend Chetty's work. It derives a suboptimal adaptive control model for the demand for investment and labor by using invariant imbedding equations.

Advertising expenditures may well be regarded as a form of investment. Using this concept, Nerlove and Arrow examined an optimal advertising policy for the firm which maximizes present valued cash flow. In this paper the Nerlove-Arrow model is applied by use of the usual stock adjustment formula...

Since Timbergen's pioneering study published in 1939, various econometric models have been built in many countries in the world. The rate of production of econometric models has been increasing, particularly over the last decade. This trend is a product of the following developments: (i)...