Federal agencies improved their handling of antitrust policy from 1980 to 1985, based upon a study of time allocation of antitrust efforts among the manufacturing industries. The agencies studied were the FTC and the Antitrust Division of the Dept of Justice. Ronald Reagan's presidency provided...

This paper demonstrates that linear regression models with an AR(1) error structure implicitly assume that y{t} does not Granger cause any of the exogenous variables in X{t}. An indirect test of the common factor restrictions based on this Granger non-causality is proposed and shown to...

Many individuals are predicting a "second green revolution" in agriculture from the introduction of growth stimulants into the livestock industries. An economy-wide approach is used to determine the affects on prices and quantities of introducing growth stimulants in the domestic dairy and pork...

This paper focuses on the practice of serial correlation correcting of the Linear Regression Model (LRM) by modeling the error. Simple Monte Carlo experiments are used to demonstrate the following points regarding this practice. First, the common factor restrictions implicitly imposed on the...

Omitting spatial characteristics such as proximity to amenities from hedonic land value models may lead to spatial autocorrelation and biased and inefficient estimators. A spatial autoregressive error model can be used to model the spatial structure of errors arising from omitted spatial...