We evaluate two models commonly used for measuring financial constraints in their ability to discriminate between constrained and unconstrained firms. We compute firm-specific estimates for the "cash flow sensitivity of investment" (CFSI), and the "cash flow sensitivity of cash" (CFSC) and...

In this article we compare two competing approaches to ecological modelling using test data. The first approach is based on the "traditional" method of Ordinary Least Squares (OLS), assuming constancy of parameters across disaggregated spatial units (spatial homogeneity). The second (new)...

This letter examines alternative specifications of dynamic adjustment in the context of a linear approximate AIDS model of the demand for meat in Belgium. The model also incorporates demographic variables to account for structural changes in consumer preferences. Using a general first-order ECM...