This chapter reviews developments to improve on the poor performance of the standard GMM estimator for highly autoregressive panel series. It considers the use of the ‘system’ GMM estimator that relies on relatively mild restrictions on the initial condition process. This system GMM...

In the 1980s and 1990s successive United Kingdom governments enacted a series of reforms to establish a more market-oriented economy, closer to the American model and further away from its Western European competitors. Today, the United Kingdom is one of the least regulated economies in the...

Objective: To determine the cost utility of treating schizophrenic patients with olanzapine compared with other antipsychotics in a naturalistic outpatient setting. An Epoch analysis was used to analyze the longitudinal data. Multivariate regression analyses that adjusted for baseline...

Abstract In economic applications it is often the case that the variate of interest is non-negative and its distribution has a mass-point at zero. Many regression strategies have been proposed to deal with data of this type but, although there has been a long debate in the literature on the...

The aim of this paper is to empirically analyse the responses by general practitioners to promotional activities for ethical drugs by pharmaceutical companies. Promotion can be beneficial as a means of providing information, but it can also be harmful in the sense that it lowers price...