The White information matrix (IM) test is applied to the linear regression model with autoregressive conditional heteroskedastic (ARCH) errors. ARCH models are used widely in analyzing economic and financial time series data. However, in practice, the models are not often thoroughly tested. We...

The objective of this dissertation is to investigate the patronage refunds decision in the Farm Credit System (FCS) lending associations, and simulate the capital structure change of a representative association dynamically. Patronage refunds distribution is a unique feature of financial...

It is well known that most of the standard specification tests are not robust when the alternative is misspecified. We consider the three types of typical misspecification encountered in econometric model specification testing, namely, complete misspecification, underspecification, and...

This study deals with the issue of independent monetary policy and the stability of the domestic money demand function in the presence of currency substitution and capital mobility in five Asian economies. It is argued that money demand will be less stable and more difficult to control in the...

We consider an extended spatial autoregressive model that can incorporate possible endogenous interactions, exogenous interactions, unobserved group fixed effects and correlation of unobservables. In the generalized method of moments (GMM) and the maximum likelihood (ML) frameworks, we introduce...

In this study, we formulate the adjusted gradient tests when the alternative model used to construct tests deviates from the true data generating process for a spatial dynamic panel data model (SDPD). Following Bera et. al. (2010), we introduce these adjusted gradient tests along with the...

When a nuisance parameter is unidentified under the null hypothesis, standard testing procedures cannot be applied due to the singularity of the information matrix. Probably best known examples are the problems of unknown change points and the mixtures of distributions in econometrics and...

This dissertation concerns theoretical and empirical aspects of a class of conditionally heteroskedastic models. We apply the White's information matrix (IM) test to the linear regression model with autocorrelated errors. A special case of one component of the test is found to be identical to...

This paper mainly focuses on finding optimal strategies for the development of microfinance in Korea and on predicting the impact of microfinance in the future.First, this paper reviews and assesses the impact of microfinance in Korea. I suggested that recent phenomena of income polarization and...

This dissertation is a collection of three essays on high school dropout by adolescents and the roll of their siblings in this risky behavior. Dropping out of high school can scar the individual for his entire labor supply period with lower earnings, higher unemployment, and in turn incur...