This paper proposes the analysis of panel data whose dynamic structure is heterogeneous across individuals. Our aim is to estimate the cross-sectional distributions and/or some distributional features of the heterogeneous mean and autocovariances. We do not assume any specific model for the...

This paper studies the asymptotic efficiency in factor models with serially correlated errors and dynamic panel data models with interactive effects. We derive the efficiency bound for the estimation of factors, factor loadings and common parameters that describe the dynamic structure. We use...

We propose a nonparametric test for Granger-type causality. A conceptually similar work will be Hidalgo (2000), who introduced a nonparametric Granger causality test in the frequency domain for weakly stationary linear processes. He is mainly concerned with the test under long range dependent...

This paper proposes a method of averaging generalized least squares (GLS) estimators for linear regression models with heteroskedastic errors. We derive two kinds of Mallows' Cp criteria, calculated from the estimates of the mean of the squared errors of the tted value based on the averaged GLS...

Depletion of water resources requires us to search for non-conventional strategies for water preservation and irrigation. Sustainable management of such water resources along with the development of sustainable irrigation systems will contribute to the stability of agricultural yield that is a...

In this paper, we propose a statistical index of industrial localization based on Kullback-Leibler divergence. This index is particularly well suited to cases where industrial data is only available at the regional level. Unlike existing regional-level indices, our index can be employed to test...

This paper analyzes repeated games in which it is possible for players to observe the other players' past actions without noise but it is costly. One's observation decision itself is not observable to the other players, and this private nature of monitoring activity makes it difficult to give...

The desolate desert in Afghanistan's Kandahar and Helmand Provinces was previously populated by thousands of pastoralists until a devastating drought decimated animal herds and forced them to live as IDPs (Internally Displaced Persons) on land bordering the desert. Through funding from UNAMA...

The purpose of this paper is to decompose income inequality based on two different dimensions in nature. One is sample's personal characteristics, and the other is income sources. Empirical investigation is attempted to data in Japan. Although there are several studies which attempted...

There are several judicial cases under the US environmental law, in which a lending bank is liable for cleaning up environmentally hazardous materials generated by its borrowing firm. Such a liability rule, so-called lender liability, is applied to a lending bank which has been actively involved...