Difficulties in measuring the production of software might result in significant underestimation of economic growth. The magnitude of this underestimation is likely to increase over time, if software development continues its current trajectory of making up an increasingly large share of...

An exact maximum likelihood method is developed for the estimation of parameters in a nonlinear non-Gaussian dynamic panel data model with unobserved random individual-specific and time-varying effects. We propose an estimation procedure based on the importance sampling technique. In particular,...