Showing 31 - 40 of 176
This paper investigates the finite sample performance of three semiparametric estimators of the Box-Cox model. Two of the semiparametric estimators are the nonlinear two-stage least squares (NL2SLS) estimator proposed by Amemiya and Powell (1981) and a rescaled version (RNL2SLS) proposed by...
Persistent link: https://www.econbiz.de/10005755342
We analyze simple adaptive learning processes to model the evolution of effective communication in cheap-talk games with initially meaningless signals. We suggest that learning rules may be sensitive to the information available to players at the population level. As a consequence, learning...
Persistent link: https://www.econbiz.de/10005755343
We conduct Monte Carlo experiments to examine whether the Hansen and Jagannathan (1991) bound is a useful device for evaluating asset pricing models. Specifically, we use recently developed statistical tests, which are based on a 'distance' between the model and the Hansen-Jagannathan bound, to...
Persistent link: https://www.econbiz.de/10005755344
Persistent link: https://www.econbiz.de/10005755345
This paper is concerned with testing the hypothesis that a conditional median function is linear against a nonparametric alternative with unknown smoothness. We develop a test that is uniformly consistent against alternatives whose distance from the linear model converges to zero at the fastest...
Persistent link: https://www.econbiz.de/10005755346
Persistent link: https://www.econbiz.de/10005755347
This paper explores how efficiency promotes the use of structure in language. It starts from the premise that one of language's central characteristics is to provide a means for saying noval things about novel circumstances, its creativity. It is reasonable to expect that in a rich and changing...
Persistent link: https://www.econbiz.de/10005755348
Persistent link: https://www.econbiz.de/10005755350
This paper designs and implements a Bayesian dynamic latent factor model for a vector of data describing the Iowa economy.
Persistent link: https://www.econbiz.de/10005755351
In this paper, the conventional test of the Sharpe-Lintner version of the Capital Asset Pricing Model (CAPM) are reconsidered. The CAPM is formulated as a Seemingly Unrelated Regression (SUR) system with an adding-up restriction. A statistical framework for conducting the conventional tests is...
Persistent link: https://www.econbiz.de/10005755355