In this paper, the Partial Distribution (PD) and multivariate Partial Distribution (MPD) are presented in their concepts, properties and applications, and PD is compared with the lognormal and the levy distribution. Though the levy distribution is better to describe the exchange returns in...

The method of cross-sectional conditional convergence regression is crucially based on the concept of exogenous control variables. However, there are strong theoretical arguments and solid empirical support for the view that at least a subset of the control variables varies systematically in the...

This letter evaluates two types of forecasts from probit models that use the slope of the yield curve (“term spread”) to forecast NBER recessions, using an evaluation toolkit common in statistics and meteorology. The probit models provide excellent non-probabilistic yes/no predictions of...

We argue that single-equation dynamic demand models applied to estimating gasoline demand should account for the slow evolution of unobservable habits and beliefs which partially determine vehicle and gasoline usage. Inclusion of unobservable habits implies that single-equation models should...

The detection of additive outliers in integrated variables has attracted some attention recently, see e.g. Shin et al. (1996), Vogelsang (1999) and Perron and Rodriguez (2003). This paper serves several purposes. We prove the inconsistency of the test proposed by Vogelsang, we extend the tests...

In this paper there's a simulation study on evolutionary finance models from Evstigneev/Hens/Schenk-Hoppe and applies the scenario generation algorithm from Hoyland/Kaut/Wallace with moment matching. Further it shows with different dividend models which investment strategies perform best under...

We argue in this paper that it is more feasible to use binary variables and logistic regression analyses in the assessments of AIDS incidents o or other similar researches in social science. Thus, even in measuring disease persistence we can reach solid and comprehensive results. Statistical...

This paper proposes a reduced form model of dynamic duopoly in the context of heterogeneous innovations framework. Two agents invest into product and process innovations simultaneously. Every newly introduced product has its own dimension of process-improving innovations and there is a continuum...