This paper discusses estimation methods for limited dependent variable (LDV) models that employ Monte Carlo simulation techniques to overcome computational problems in such models. These difficulties take the form of high dimensional integrals that need to be calculated repeatedly but cannot be...

If there is a kind of theory can explain people ' s daily life that is economy.

This study estimates the impact of the municipal groupings between 1992 and 2000 upon municipalities's wage bill in Quebec. Our identification strategy is based on a wage bill reduced form model and the specification of the grouping participation process. The three following methods are used in...

This paper reviews the literature on Bartlett and Bartlett-type corrections. It focuses on the corrections to the likelihood ratio, score and Wald test statistics. Three different Bartlett-type corrections which are equivalent to order 1/n, n being the sample size, are compared through...

Under suitable regularity conditions, an improved score test was derived by Cordeiro and Ferrari (1991). The test is based on a corrected score statistic which has a chi-squared distribution to order 1/n under the null hypothesis, where n is the sample size. In this paper we follow their...

I describe a goodness-of-fit measure for revealed preference tests. This index can be used to measure the degree to which an economic agent violates the model of utility maximization. I calculate the violation indices for a 38 consumers and find that the observed choice behavior is very close to...

In this paper we analyze the asymptotic properties of the popular distribution tail index estimator by B. Hill (1975) for possibly heavy- tailed, heterogenous, dependent processes. We prove the Hill estimator is weakly consistent for processes with extremes that form mixingale sequences, and...

In this paper we develo psemiparametric estimators of L and y in the model L(Y) = min[b›X + U,C], where Y is a nonnegative dependent variable, X is a vector of explanatory variables, U is an unobserved random "error" term with unknown distribution function y, C is a random censoring variable,...

The smoothed maximum score estimator of the coefficient vector of a binary response model is consistent and asymptotically normal under weak distributional assumptions. However, the differences between the true and nominal levels of tests based on smoothed maximum score estimates can be very...