The Breusch-Pagan Lagrange Multiplier test for heteroskedascity is supposedly able to detect heteroskedasticity which is an arbitrary function of some set of regressors. We will show that in fact it detects only linear functions. The test is inconsistent for general alternatives, in the sense...

In 1928 Cobb and Douglas (C&D) presented a system analysis which established the first empirically identified production model, which forms the foundation for Solow's growth theory and research into productivity growth factors, such as 'technological progress ' and 'human capital development '....

By design a wavelet's strength rests in its ability to simultaneously localize a process in time-scale space. The wavelet's ability to localize a time series in time-scale space directly leads to the computational efficiency of the wavelet representation of a N X N matrix operator by allowing...

The standardised residuals from GARCH models fitted to three stock indices of the Athens Stock Exchange are examined for evidence of chaotic behaviour. In each case the correlation dimension is calculated for a range of embedding dimensions. The results do not support the hypothesis of chaotic...

This is an exploratory study that attempts to identify and provide empirical evidence on the possible determinants of the market capitalisation of the Harare Stock Exchange (HSE) with the view of understanding the development prospects of the HSE and other similar markets. The study used...

We borrow a frontier specification from the econometrics literature to make inferences about the tolerance of the tapir to human settlements. We estimate the width of an invisible band surrounding human settlements which would act as a frontier or exclusion zone to the tapir to be around 290 meters.

Why do statisticians (econometricians, economists, financial analysts, etc.) continue to incompletely identify the algebraic/geometric structure of the multi-variate data series they profess to analyze, and instead continue to publish the results of incomplete, prejudiced and biased...

This paper introduces various consistent tests for the null hypothesis of stationarity with possibly unknown multiple structural break points against the alternative of nonstationarity that can be applied to multiple as well as univariate time series. These tests can be applied to either partial...