In this paper, we propose a panel data semiparametric varying-coefficient model in which covariates (variables affecting the coefficients) are purely categorical. This model has two features: first, fixed effects are included to allow for correlation between individual unobserved heterogeneity...

The 2013 World Trade Organization ministerial in Bali produced a comprehensive framework agreement on trade facilitation. If fully implemented, the agreement should increase the speed and reduce the cost of moving goods across international borders. But which reforms are most likely to improve...

This paper investigates the returns to scale of large banks in the US over the period 1997–2010. This investigation is performed by estimating a random coefficient stochastic distance frontier model in the spirit of Tsionas (2002) and Greene (2005, 2008). The primary advantage of this model is...

The experiments of reforming the methane of coke-oven gas with steam were performed. The effects of the thermodynamic factors, such as the H2O/CH4 ratio, the conversion temperature (T) of methane and the reaction time (t), on the methane conversion rate have been investigated. The experimental...

Expanding the panel model of Pesaran (2006) and Bai (2009), we propose a dynamic panel specification with Bayesian approach to capture the impact of unobservable industry-wide shocks to stock price movements. We employ fundamental accounting information to control company specific shocks and...

Karst is widely distributed in the southwest of China, especially in Guizhou Province. The phenomenon of desertification in these areas is very serious. And soil erosion is the key link in the process of desertification. Through field monitoring, underground soil leakage is derived to the main...