In this paper we use Monte Carlo sampling experiments to examine the properties of pretest estimators in the random parameters logit (RPL) model. The pretests are for the presence of random parameters. We study the Lagrange multiplier (LM), likelihood ratio (LR), and Wald tests, using...

On March 24, 2012, we had one of the greatest surprises of our lives. We walked into the Lod Cook Conference Center on the LSU campus, to find scores of people, including our friend, mentor and major Professor Stanley R. Johnson, and many old colleagues and students. This event, in honor of the...

The Hausman test is used in applied economic work as a test of misspecification. It is most commonly thought of as a test of whether one or more explanatory variables in a regression model are endogenous. The usual Hausman contrast test requires one estimator to be efficient under the null...

We are pleased to introduce Advances in Econometrics Volume 29: Essays in Honor of Jerry Hausman . This volume contains research papers on the theory and practice of econometrics that are linked to, or related to, or inspired by the work of Jerry Hausman. We have divided the contributions into...

This volume of Advances in Econometrics is devoted to dynamic stochastic general equilibrium (DSGE) models, which have gained popularity in both academic and policy circles as a theoretically and methodologically coherent way of analyzing a variety of issues in empirical macroeconomics. The...

This dissertation investigates the role of fiscal policy on economic activity by analyzing the response of major macroeconomic variables to innovations to the average marginal income tax rate (AMTR) measures in the U.K. by employing vector autoregressive (VAR) models. We identify these...

The increasing trends of integrated and concentrated broiler production results in a serious threat to environment through excessive litter production and lack of its proper disposal. Production concentration in limited area is a major source of surface as well as ground water pollution....

In this work, we begin with an investigation into the temporal correlation in default risk. We first establish a link between the dynamics of house price changes and the dynamics of default rates in the Gaussian copula framework by specifying a time series model for a common risk factor. We show...