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There is strong empirical evidence that the GARCH estimates obtained from panels of financial time series cluster. In order to capture this empirical regularity, this paper introduces the Hierarchical GARCH (HG) model. The HG is a nonlinear panel specification in which the coefficients of each...
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that foreign aid has not had a significant effect on income, based on evidence from panel data potentially covering 131 …-integrated regressions is not a suitable empirical strategy for estimating the causal effect of aid on income. Given the nature of the … positive and statistically significant long-run effect of aid on income …
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effect of aid on income. Evidence from a Panel VAR model estimated on the dataset of NDHKM, suggests a positive and … statistically significant long-run effect of aid on income …
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accurate information from survey respondents about income and wealth. However, changing survey questions - even for the better … paper, we describe work that addresses this problem in the Health and Retirement Study (HRS) using data on income from …
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