作者：LIGERALDE, AV; BROWN, BW
作者单位：Rice University
摘要：Using Monte Carlo simulations, we examine the performance of Wald-type test statistics based on alternative versions of a heteroskedasticity consistent band covariance matrix estimator which is algorithmically constrained to be positive definite in finite samples. We find that the test statistic based on the originally proposed estimator tends to result in excessive Type I errors. This problem can be alleviated to some extent by employing a quasi-maximum likelihood procedure. However, by simpl...
作者：KARP, LS; PERLOFF, JM
作者单位：University of Southampton
摘要：The strategic effects of subsidies on output and subsidies on investment differ substantially in dynamic models where a government's commitment ability is limited. Output subsidies remain effective even as the period of commitment vanishes, but investment subsidies may become completely ineffective. This difference has been obscured because most existing models of strategic trade policy are static.
