This paper discusses the problem of using a data base whose missing data points have been filled, based upon those that do exist. By use of an actual case-in-point, the author points out the pitfalls and dangers of using such a data base, and places a "flashing signal" before every data base.

This paper provides new tests of the arbitrage pricing theory (APT). Test results appear to be extremely sensitive to the number of securities used in the two stages of the tests of the APT model. New tests also indicate that unique risk is fully as important as common risk. While these tests...

This paper presents an analysis of the dynamics of total factor productivity measures for large plants in SICs 35, 36 and 38. Several TFP measures, derived from production functions and Solow type residuals, are computed and their behavior over time is compared, using non-parametric tools....

This paper presents an analysis of the dynamics of total factor productivity measures for large plants in SICs 35, 36, and 38. Several TFP measures, derived from production functions and Solow type residuals, are computed and their behavior over time is compared, using various non-parametric...