A high degree of multicollinearity among the explanatory variables severely impairs estimation of regression coefficients by the Ordinary Least Squares. Several methods have been suggested to ameliorate the deleterious effects of multicollinearity. In this paper we aim at comparing the...

A high degree of multicollinearity often has a detrimental effects on the estimation of a linear econometric (regression) model due to an intricate internecine sharing among the estimated regression coefficients (beta). Paris (2001) introduced the Maximum Entropy Leuven (MEL) estimator. It...

Deleterious effects of a high degree of multicollinearity on estimation of regression coefficients (beta) of a linear model are well known. As a remedial measure, Hoerl & Kennard (1970) introduced Ridge Regression, but as Theobald (1974) pointed out, its optimality depends on unknown parameters...

Median, a well known measure of central tendency, of a sample data x =(x1, x2, ... ,xn) is obtained through the traditional method as (xn-m + xm+1)/2, where m= int(n/2) and values of x are arranged in ascending (descending) order. Since, for odd n, n-m=m+1, the formula uses only one value from...

Econometricians generally take for granted that the error terms in the econometric models are generated by distributions having a finite variance. However, since the time of Pareto the existence of error distributions with infinite variance is known. Works of many econometricians, namely, Meyer...

This paper generalizes the method of Indirect Least Squares (ILS) and shows that such a generalization, call it the Generalized Indirect Least Squares (GILS), yields Two-Stage Least Squares (2-SLS) under the zero restriction on some structural coefficients characterizing over-identification

The present study aims at an investigation into the prices of wage goods and the cost of living of casual wageworkers in Shillong, the capital city of Meghalaya, India. Labourers are defined as a collection of workers exchanging their labour power for material - usually monetary - rewards...

The statistical distribution of Journal Impact Factor (JIF) is characteristically asymmetric and non-mesokurtic. Even the distribution of log10(JIF) exhibits conspicuous skewness and non-mesokurtocity. This paper estimates the parameters of Johnson SU distribution fitting to the log10(JIF) data...

Logarithmic spirals are abundantly observed in nature. To obtain the parameters of such spirals, curve-fitting may be required. However, the usual procedure of curve-fitting fails miserably in this regard. The difficulties become much more intense when the observed points z = (x,y) are not...