By taking China's beer industry as an example, this paper establishes a series of industrial competition pressure networks and examines the correlation between competition structure and merger actions. We present a cascade dynamic-merger agent-based computational model driven by competition...

The combination of the network theoretic approach with recently available abundant economic data leads to the development of novel analytic and computational tools for modelling and forecasting key economic indicators. The main idea is to introduce a topological component into the analysis,...

Cross-border equity and long-term debt securities portfolio investment networks are analysed from 2002 to 2012, covering the 2008 global financial crisis. They serve as network-proxies for measuring the robustness of the global financial system and the interdependence of financial markets,...

Pretesting for exogeneity has become a routine in many empirical applications involving instrumental variables (IVs) to decide whether the ordinary least squares (OLS) or the IV-based method is appropriate. Guggenberger (2010) shows that the second-stage t-test – based on the outcome of a...

This note studies the asymptotic validity of bootstrapping the test of overidentifying restrictions under many/many weak instruments and heteroskedasticity. We show that the wild bootstrap consistently estimates the null limiting distributions of a jackknife overidentification statistic under...

Under a framework with a small number of clusters but large numbers of observations per cluster for instrumental variable (IV) regression, we show that an unstudentized wild bootstrap test based on IV estimators such as the two-stage least squares estimator is valid as long as the instruments...

This note studies the asymptotic validity of bootstrapping the test of overidentifying restrictions under many/many weak instruments and heteroskedasticity. We show that the wild bootstrap consistently estimates the null limiting distributions of a jackknife overidentification statistic under...

In this note, for the case that the disturbances are conditional homoskedastic, we show that a properly re-scaled residual bootstrap procedure is able to consistently estimate the limiting distribution of a series estimator in the partially linear model even when the number of regressors is of...

Pretesting for exogeneity has become a routine in many empirical applications involving instrumental variables (IVs) to decide whether the ordinary least squares (OLS) or the two-stage least squares (2SLS) method is appropriate. Guggenberger (2010) shows that the second-stage t-test – based on...

Pretesting for exogeneity has become a routine in many empirical applications involving instrumental variables (IVs) to decide whether the ordinary least squares (OLS) or the two-stage least squares (2SLS) method is appropriate. Guggenberger (2010) shows that the second-stage t-test – based on...