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We examine the finite sample properties of the maximum likelihood estimator for the binary logit model with random covariates. Analytic expressions for the first-order bias and second-order mean squared error function for the maximum likelihood estimator in this model are derived, and we...
Persistent link: https://www.econbiz.de/10005078718
We model the durations between firms’ “Initial Public Offerings” (IPOs) and their subsequent “Seasoned Equity Offerings” (SEOs) in China during the period from 1 January 2001 to 1 July 2006. Duration analysis is applied by using the nonparametric Kaplan-Meier estimator of the hazard...
Persistent link: https://www.econbiz.de/10005020527
We examine inference for Generalized Entropy and Atkinson inequality measures with complex survey data, using Wald statistics with variance-covariance matrices estimated from a linearization approximation rather than the d-method. Testing the equivalence of two or more inequality measures,...
Persistent link: https://www.econbiz.de/10005020528
Persistent link: https://www.econbiz.de/10005025591
In this study we suggest a Bayesian approach to fuzzy clustering analysis – the Bayesian fuzzy regression. Bayesian Posterior Odds analysis is employed to select the correct number of clusters for the fuzzy regression analysis. In this study, we use a natural conjugate prior for the...
Persistent link: https://www.econbiz.de/10005669075
The extensive body of research that examines for (Granger, 1969) causality from exports to output for developing countries, including Bangladesh and Sri Lanka, using vector autoregressions and/or vector error correction models, is limited in only examining for one-period ahead or direct...
Persistent link: https://www.econbiz.de/10005626712
We show that certain the winning bids for certain ebaY auctions obey Benford’s Law. One implication of this is that it is unlikely that these bids are subject to collusion among bidders, or “shilling” on the part of sellers. Parenthetically, we also show that numbers from the naturally...
Persistent link: https://www.econbiz.de/10005626713
We consider the relative merits of various saddlepoint approximations for the c.d.f. of a statistic with a possibly non-normal limit distribution. In addition to the usual Lugannani-Rice approximation we also consider approximations based on higher-order expansions, including the case where the...
Persistent link: https://www.econbiz.de/10005626714
In this paper we develop flexible techniques for measuring the speed of output convergence between countries when such convergence may be of an unknown non-linear form. We then calculate these convergence speeds for various countries, in terms of half-lives, from two time-series data-sets. These...
Persistent link: https://www.econbiz.de/10005626715
The economic development and growth literature contains extensive discussions on relationships between exports and economic growth. One debate centers on whether countries should promote the export sector to obtain economic growth. An abundant empirical literature on this export-led growth (ELG)...
Persistent link: https://www.econbiz.de/10005626716