The two-step GMM estimators of Arellano and Bond (1991) and Blundell and Bond (1998) for dynamic panel data models have … continuous-updating GMM estimator proposed by Hansen, Heaton, and Yaron (1996) is in principle able to reduce the small … computationally feasible variation on these standard two-step GMM estimators by applying the idea of continuous-updating to the …

for the validity of the monetary exchange rate modelwithin a panel of vector error correction models for three …

uncertainty. The investment performance of 14 sectors is examined within a dynamic investment model. Robust GMM estimates of the …

The linear dynamic panel data model provides a possible avenue to deal with unobservable individual …-specific heterogeneity and dynamic relationships in panel data. The model structure renders standard estimation techniques inconsistent …. Estimation and inference can, however, be carried out with the generalized method of moments (GMM) by suitably aggregating …

We show that in countries with more societal trust shareholders cast fewer votes at shareholder meetings and are more … managers do not exploit lower monitoring levels when trust is high. Our evidence supports theory according to which trust …