For linear models with a diverging number of parameters, it has recently been shown that modified versions of Bayesian information criterion (BIC) can identify the true model consistently. However, in many cases there is little justification that the effects of the covariates are actually...

In this short note, we demonstrate that Schwarz’s criterion, which has been used frequently in the literature on quantile regression, is consistent in variable selection. In particular, due to the recent interest in penalized likelihood for variable selection, we also show that Schwarz’s...

This paper introduces an alternating conditional expectation (ACE) algorithm: a non-parametric approach for estimating the transformations that lead to the maximal multiple correlation of a response and a set of independent variables in regression and correlation analysis. These transformations...

This paper examines the major economic and institutional factors underlying the surge in foreign direct investment (FDI) flows to Chile during recent decades. It presents econometric evidence for the 1960-2003 period which indicates that market-based economic reforms and major changes in the...

This paper examines the major economic and institutional factors underlying the surge in foreign direct investment (FDI) flows to Chile during recent decades. It presents econometric evidence for the 1960-2003 period which indicates that market-based economic reforms and major changes in the...

Information theory offers a coherent, intuitive view of model selection. This perspective arises from thinking of a statistical model as a code, an algorithm for compressing data into a sequence of bits. The description length is the length of this code for the data plus the length of a...

This study examined the process and causes of forest cover change in Peninsular Malaysia from 1970 to 2010. Time series data on forest cover, land use, timber production, and socio-economic variables of Peninsular Malaysia were analyzed by regression modeling using Akaike Information Criterion...