The encompassing principle has been carefully and precisely defined in various contexts, since its first appearance in the 1980s literature in numerous papers by Hendry, Mizon and Richard. Since then, several distinct notions of encompassing have been proposed and still coexist in the...

Both industry and firm characteristics influence the survival of a firm in an industryover time. Aging, size, structure are factors often discussed in the literature, but publicintervention effects - through public quality labeling for example - may also have aneffect that is examined here. We...

Many empirical studies challenged the parametric approach to estimate nonlinear house price models and to use instead nonparametric or semiparametric model specifications. In the area of environmental analysis using house price models, Stock (1991) and McMillen and Thorsen (2000) applied...

The seasonal irrigation water demand under uncertainty, which lies at the core of this paper, is still very roughly known. We know, however, that irrigated agriculture accounts for a large proportion of water use, especially in many water-scarce areas. In this paper, we estimate the irrigation...

The estimation of conditional probability distribution functions (PDFs) in a kernel nonparametric framework has recently received attention. As emphasized by Hall, Racine and Li (2004), these conditional PDFs are extremely useful for a range of tasks including modelling and predicting consumer...

There is a wide literature on the dynamic adjustment of employment and its relationship with the business cycle. In this paper we present a statistical model that offers a congruent representation of part of the UK labour market since the mid 1960s. We use a cointegrated vector autoregressive...

Part I. Identification and Efficient Estimation: 1. Incredible structural inference Thomas J. Rothenberg; 2. Structural equation models in human behavior genetics Arthur S. Goldberger; 3. Unobserved heterogeneity and estimation of average partial effects Jeffrey M. Wooldridge; 4. On specifying...

The policy implications of estimated macro-econometric systems depend on the formulations of their equations, the methodology of empirical model selection and evaluation, the techniques of policy analysis, and their forecast performance. Drawing on recent results in the theory of forecasting, we...

There is a wide literature on the dynamic adjustment of employment and its relationship with the business cycle. Our aim is to propose a statistical model that offers a congruent representation of post-war UK labour market. We use a cointegrated vector autoregressive Markov-switching model where...