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Are linear models really unuseful to describe business cycle data?

Lopes, Artur Silva; Zsurkis, Gabriel Florin - 2017

on testing only. The authors aim to maximize power to detect non-linearities and, simultaneously, they purport avoiding …

Persistent link: https://www.econbiz.de/10011597173

Forecast evaluation of small nested model sets

Hubrich, Kirstin; West, Kenneth D. - 2009

We propose two new procedures for comparing the mean squared prediction error (MSPE) of a benchmark model to the MSPEs of a small set of alternative models that nest the benchmark. Our procedures compare the bench-mark to all the alternative models simultaneously rather than sequentially, and do...

Persistent link: https://www.econbiz.de/10011605076

A contribution to the Reinhart and Rogoff debate: not 90 percent but maybe 30 percent

Lee, Sokbae; Park, Hyunmin; Seo, Myung Hwan; Shin, Youngki - 2014

Using the Reinhart-Rogoff dataset, we find a debt threshold not around 90 percent but around 30 percent above which the median real GDP growth falls abruptly. Our work is the first to formally test for threshold effects in the relationship between public debt and median real GDP growth. The null...

Persistent link: https://www.econbiz.de/10011282647

A case for standard theory?

Kuzmics, Christoph; Rodenburger, Daniel - 2015

Using data from an experiment by Forsythe, Myerson, Rietz, and Weber (1993), designed for a different purpose, we test the "standard theory" that players have preferences only over their own mentary payoffs and that play will be in (evolutionary stable) equilibrium. In the experiment each...

Persistent link: https://www.econbiz.de/10011348269

Evaluating dominance ranking of PSID incomes by various household attributes

Maasoumi, Esfandiar; Heshmati, Almas - 2005

We examine the dynamic evolution of incomes, both disposable and gross, for several groups in the PSID panel data at several points from 1968 to 1997. We employ the extended Kolmogorov-Smirnov tests of First and Second Order Stochastic Dominance (SD) as implemented by Maasoumi and Heshmati...

Persistent link: https://www.econbiz.de/10010267644

The revealed preference approach to collective consumption behavior: testing, recovery and welfare analysis

Cherchye, Laurens; De Rock, Bram; Vermeulen, Frederic - 2007

nonparametric testing tools for data consistency with special cases of the collective model, which impose specific structure on the … preferences of the group members (in terms of consumption externalities and public consumption); and we show that these testing … income shares that underlie observed (collectively rational) group behavior. In addition, we present formally similar testing …

Persistent link: https://www.econbiz.de/10010268456

Forecast Evaluation of Small Nested Model Sets

Hubrich, Kirstin; West, Kenneth - 2010

We propose two new procedures for comparing the mean squared prediction error (MSPE) of a benchmark model to the MSPEs of a small set of alternative models that nest the benchmark. Our procedures compare the benchmark to all the alternative models simultaneously rather than sequentially, and do...

Persistent link: https://www.econbiz.de/10010270261

Tests for Unbalanced Error Component Models Under Local Misspecication

Sosa-Escudero, Walter; Bera, Anil K. - 2008

This paper derives unbalanced versions of the tests statistics for ¯rst order serial correlation and random individual e®ects summarized in Sosa Escudero and Bera (2001), and updates their xttest1 routine. The derived tests statistics should be useful for applied researchers faced with the...

Persistent link: https://www.econbiz.de/10011429271

On Estimating the Size of the Shadow Economy

Kirchgässner, Gebhard - 2016

As long as it is employed cautiously enough, the model approach is a useful tool to estimate simultaneously the size and the development of the shadow economy in several countries. However, a second method is necessary to calibrate the model. The currency demand approach can lead to highly...

Persistent link: https://www.econbiz.de/10011431291

Testing for adverse selection into private medical insurance

Olivella, Pau; Vera-Hernandez, Marcos - 2006

We develop a test for adverse selection and use it to examine private health insurance markets. In contrast to earlier papers that consider a purely private system or a system in which private insurance supplements a public system, we focus our attention on a system where privately funded health...

Persistent link: https://www.econbiz.de/10010292988