This study examines the effects of transportation infrastructure (motorways) on economic growth by using a dynamic model for panel data of 19 OECD countries. The results indicate a significant nonlinear network effect of motorway extensions. Specifically, motorway construction has an...

This study examines the impact of ICT growth on the productivity effects of transportation infrastructure. Using dynamic panel data of OECD member countries, the study finds econometrically meaningful results on examining the complementarity between ICT and transportation infrastructures. The...

This paper investigates the hypothesis that technological convergence has been a major driving force for the recent productivity increase in Korea. Based on the dynamic panel data of Korean industries, the direct impact of information and communication technology (ICT) on labor productivity is...

This paper introduces a simple first-difference-based approach to estimation and inference for the AR(1) model. The estimates have virtually no finite-sample bias and are not sensitive to initial conditions, and the approach has the unusual advantage that a Gaussian central limit theory applies...

This paper provides a first order asymptotic theory for generalized method of moments (GMM) estimators when the number of moment conditions is allowed to increase with the sample size and the moment conditions may be weak. Examples in which these asymptotics are relevant include instrumental...

This note derives the correct limit distributions of the Anderson Hsiao (1981) levels and differences instrumental variable estimators, provides comparisons showing that the levels IV estimator has uniformly smaller variance asymptotically as the cross section (n) and time series (T) sample...

This note derives the correct limit distributions of the Anderson–Hsiao (1981) levels and differences instrumental variable estimators, provides comparisons showing that the levels IV estimator has uniformly smaller variance asymptotically as the cross section (n) and time series (T) sample...

Statistics are developed to test for the presence of an asymptotic discontinuity (or infinite density or peakedness) in a probability density at the median. The approach makes use of work by Knight (1998) on <italic>L</italic> ₁ estimation asymptotics in conjunction with nonparametric kernel density estimation...

First difference maximum likelihood (FDML) seems an attractive estimation methodology in dynamic panel data modeling because differencing eliminates fixed effects and, in the case of a unit root, differencing transforms the data to stationarity, thereby addressing both incidental parameter...