This special issue of <italic>Econometric Reviews</italic> honors William A. Barnett's exceptional contributions in the field of economics. It follows and complements a recent <italic>Journal of Econometrics</italic> special issue also in honor of William A. Barnett, Internally Consistent Modeling, Aggregation, Inference, and...

King et al. ([King, Robert G., 1991]) evaluate the empirical relevance of a class of real business cycle models with permanent productivity shocks by analyzing the stochastic trend properties of postwar U.S. macroeconomic data. They find a common stochastic trend in a three‐variable system...

SUMMARY In this paper we investigate the demand for gasoline in Canada using recent annual expenditure data from the Canadian Survey of Household Spending, over a 13‐year period from 1997 to 2009, on three expenditure categories in the transportation sector: gasoline, local transportation, and...

In this paper we build on work by Gallant and Golub (1984), Diewert and Wales (1987), and Barnett (2002) and provide a comparison among three different methods of imposing theoretical regularity on flexible functional forms-reparameterization using Cholesky factorization, constrained...

We address the estimation of stochastic volatility demand systems. In particular, we relax the homoscedasticity assumption and instead assume that the covariance matrix of the errors of demand systems is time-varying. Since most economic and fiÂ…nancial time series are nonlinear, we achieve...

This special issue of the Journal of Econometrics honorsWilliam A. BarnettÂ’s exceptional contributions to unifying economic theory with rigorous statistical inference to interpret economic data and inform public policy. It is devoted to papers that advance microeconometrics,...

This paper tests Mankiw’s (1987) revenue-smoothing hypothesis, that the inflation rate moves one-for-one with the marginal tax rate in the long run, using the new average marginal tax rate series constructed by Stephenson (1998) and the long-horizon regression approach developed by Fisher and...

This paper focuses on the aggregate demand for electricity, natural gas, and light fuel oil in Canada as a whole and six of its provinces — Quebec, Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia — in the residential, commercial, and industrial sectors. We employ the...