This work establishes the lower convergence of the set of minimal points of An to the set of minimal points of A, whenever An is a sequence of convex subsets of an euclidean space satisfying the dominance property and converging to A. Using this result and introducing a property for a function f...

In this paper we discuss money demand in the Netherlands over the period 1979-1999. The model it with a VAR integrated of order two and use full maximumlikelihood for inference of testing. We find a stable money demand function over the period considered. It depends on the short term interest...

In this paper we survey some notions of generalized derivative for C 1,1 functions. Furthermore some optimality conditions and numerical methods for nonlinear minimization problems involving C1,1 data are studied.

The small sample properties of tests on long-run coefficients in cointegrated systems are still a matter of concern to applied econometricians. We compare the performance of the Bartlett correction, the bootstrap and the fast double bootstrap for tests on cointegration parameters in the maximum...

We propose a general procedure for constructing nonparametric priors for Bayesian inference. Under very general assumptions,the proposed prior selects absolutely continuous distribution functions, hence it can be useful with continuous data. We use the notion of Feller-type approximation, with a...

This paper proposes likelihood-based procedures for determining the number of cointegrating vectors in the presence of constraints on the cointegration rank. The tests can be applied when a priori information suggests a lower bound on the number of common stochastic trends in the system. The...

Bridge estimation, as described by Meng and Wong in 1996, is used to estimate the value taken by a probability density at a point in the state space. When the normalisation of the prior density is known, this value may be used to estimate a Bayes factor. It is shown that the multi-block...

The relationship between Internationalization and performance is a challenging topic for the agenda of researchers across the world, due to the complexity of the variables involved, to the difficulties in construct building and, last but not least, to the controversial results arising from the...

In this note we raise some questions for Bayesian nonparametric statistics starting from an example. The problems is described by Coram an Diaconis (2001) and regards studying, by probabilistic techniques, the correspondence between the eigenvalues of random unitary matrices and the complex...

The following suggests that demographic changes and the creation of a single currency in Europe has compelled greater EU intervention in pension reform. Although, traditionally pension reform has remained the domain of the domestic realm, increased European integration has necessitated lifting...