Despite much recent work on the finite-sample properties of estimators and tests for linear regression models with a single endogenous regressor and weak instruments, little attention has been paid to tests for overidentifying restrictions in these circumstances. We study asymptotic tests for...

Conventional wisdom says that the middle classes in many developed countries have recently suffered losses, in terms of both the share of the total population belonging to the middle class, and also their share in total income. Here, distribution-free methods are developed for inference on these...

Little attention has been paid to the finite-sample properties of tests for overidentifying restrictions in linear regression models with a single endogenous regressor and weak instruments. We study several such tests in models estimated by instrumental variables (IV) and limited-information...

The objective of this paper is to present a case study of customer loyalty involving food services in a university canteen. The purpose is to provide a practical tool for modeling customer loyalty by using logistic function. Prior literature employed linear equation to model customer loyalty....

The standard forms of bootstrap iteration are very computationally demanding. As a result, there have been several attempts to alleviate the computational burden by use of approximations. In this paper, we extend the fast double bootstrap of Davidson and MacKinnon (2007) to higher orders of...

Bayesian empirical approaches appear frequently in fields such as engineering, computer science, political science and medicine, but almost never in law. This article illustrates how such approaches might be very useful in empirical legal studies. In particular, Bayesian approaches enable a much...

Although the Parks (1967) estimator for a SUR model with AR disturbances is efficient both asymptotically and in small samples, Kmenta and Gilbert (1970) and more recently Beck and Katz (1995) note that estimated standard errors tend to be biased downward as compared with the true variability of...

We propose a class of new robust GMM tests for endogenous structural breaks. The tests are based on supremum, average and exponential functionals derived from robust GMM estimators with bounded influence function. We study the theoretical local robustness properties of the new tests and show...

This is a monographic study on diagnosing econometric modeling. I systematically introduce the ideas and methods of statistical diagnostics to the whole process of classical modern econometric modeling which provide the basic frame and theoretical basis and factual evidence for the birth of...

If we conducted a competition for which statistical quantity would be the most valuable in exploratory data analysis, the winner would most likely be the correlation coefficient with a significant difference from its first competitor. In addition, most data applications contain non-normal data...