Share equations play an important role in applied economic research, notably in marketing and demand analysis. Both market shares and budget shares have been used as dependent variables in econometric models which were partly motivated by microeconomic theory. However attempts of econometricians...

The GDP or GNP as a measure of economic performance of a country changes continuously. We can identify the factors that precede its ups and downs. For such forecasting, the use of Markov models are not new, but in this paper, an attempt is made to propose a covariate-dependent Markov model to...

Switching regression models form a suitable model class for regression problems with unobserved heterogeneity. A basic issue encountered in applications of switching regression models is to choose the number of states of the switching regime. Based on the modified likelihood ratio test (LRT)...

We consider semiparametric models whose infinite-dimensional parameter corresponds to a probability distribution. The NPMLE based on the profile empirical likelihood for this kind of semiparametric model has attracted considerable interest. We propose the use of a modified profile empirical...