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作者：Hall, AR; Rudebusch, GD; Wilcox, DW
作者单位：Federal Reserve System - USA; Federal Reserve System - USA
摘要：Recent research has emphasized the poor finite-sample performance of the instrumental variables (IV) estimator when the instruments are weakly correlated with the regressors. We show how the canonical correlations between regressors and instruments can provide a measure of instrument relevance in the general multiple-instrument-multiple-regressor case. However, our simulation results indicate that any such relevance measure probably has little practical merit, as its use may actually exacerbat...
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作者：Eckstein, Z; Foulides, C; Kollintzas, T
作者单位：Boston University; Athens University of Economics & Business; Centre for Economic Policy Research - UK
摘要：In this note we synthesize exogenous and endogenous sources of economic growth in a stochastic dynamic log linear general equilibrium model. Endogenous growth could be the result of internal constant returns to scale, external increasing returns to scale in the production of human capital or in the production of goods. We get a closed form log linear representation for the dynamic laws of motion for the human and physical capital stocks. Using the solution we distinguish between different sour...
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作者：Maccini, LJ; Zabel, E
作者单位：State University System of Florida; University of Florida
摘要：This paper explores the idea that stockout avoidance motives together with serial correlation in demand and/or the backlogging of excess demand is sufficient to induce firms to behave so that the variance of production exceeds the variance of sales. We show that the idea holds under a wide range of circumstances facing firms, including additive as well as multiplicative demand uncertainty, a general form of serial correlation in demand, whether inventory and shortage costs apply, and whether p...
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作者：Rilstone, P
摘要：This paper considers nonparametric kernel estimation of models with generated regressors and derives the asymptotic distribution of the resulting estimators. It is also shown how generated regressors may be used to reduce the dimensionality of certain nonparametric models. A labour supply equation is estimated to illustrate the technique.
