The concept of approximate slopes is employed to study the power properties of the Generalized Method of Moments (GMM) overidentifying restrictions test. Two versions of the overidentifying restrictions test are compared globally by means of the approximate slopes approach. With no...

In this paper a practical robust simulation estimator is proposed for the dynamic panel data discrete choice models using the <InlineEquation ID="IEq3"> <EquationSource Format="TEX">$$t$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mi>t</mi> </math> </EquationSource> </InlineEquation> distribution. The maximum simulated likelihood estimators are obtained through a recursive algorithm formulated by Geweke–Hajivassiliou–Keane...</equationsource></equationsource></inlineequation>

In order to distinguish the true and spurious state dependence from the complicated dynamics of union membership, the simulation estimators incorporating the lagged dependent variables, unobserved individual heterogeneity and correlations among the errors are implemented in this article to study...

This paper examines a labor market with two professional groups both cooperating and directly competing with each other: certified registered nurse anesthetists (CRNAs) and anesthesiologists (MDAs). We develop a model where the supply of MDAs endogenously determines (1) the earnings of CRNAs and...

In this paper, the asymptotic power comparisons of two versions of GMM overidentifying restrictions tests are conducted globally through the concept of approximate slopes. It is found that the GMM overidentifying restrictions test with the consistent mean deviation variance-covariance matrix...

In this paper, the asymptotic power comparisons of two versions of GMM overidentifying restrictions tests are conducted globally through the concept of approximate slopes. It is found that the GMM overidentifying restrictions test with the consistent mean deviation variance-covariance matrix...