This paper develops an asymptotic theory for a general class of nonlinear non-stationary regressions, extending earlier work by Phillips and Hansen (1990) on linear cointegrating regressions. The model considered accommodates a linear time trend and stationary regressors, as well as multiple...

The paper considers a volatility model which introduces a persistent, integrated or nearly integrated, covariate to the standard ARCH(1) model. For such a model, we derive asymptotic theory of quasi-maximum likelihood estimator. In particular, we establish consistency and obtain limit...

Incremental housing is a gradual process whereby residents incrementally improve or extend their houses by themselves, whenever funding or time becomes available. This approach has attracted attention as an affordable way of improving poor living conditions in slums often with sites-and-services...