In this paper the Financial Development Index (FDI) is used to rank 57 of the world's leading financial systems. Its calculation is based on the following 7 economic pillars: (1) Institutional environment, (2) Business environment, (3) Financial stability, (4) Banking financial services, (5)...

This paper analyzes the quality of life over time in the U.S. In this paper we propose a statistical cluster analysis method based on an informationbased measure. This method is then employed to cluster diverse attributes of the quality of life. Aggregate annual measures of welfare are computed...

Using ARIMA models and entropy, the dynamic evolution of several functions of aggregate income and other attributes of well-being is analyzed for statistical "similarity" in order to determine potentially distinct dimensions in multidimensional analysis of welfare and quality of life in the US....

This paper considers the similarity between two measures of air pollution/quality control, on the one hand, and widely used indicators of life quality and welfare in the US, on the other. We use statistical cluster analysis based on information measures of similarity and distance. The results...

A transformed metric entropy measure of dependence is studied which satisfies many desirable properties, including being a proper measure of distance. It is capable of good performance in identifying dependence even in possibly nonlinear time series, and is applicable for both continuous and...

We consider a metric entropy capable of detecting deviations from symmetry that is suitable for both discrete and continuous processes. A test statistic is constructed from an integrated normed difference between nonparametric estimates of two density functions. The null distribution (symmetry)...

The theoretical and empirical implications of omitted variables, particularly dynamic adjustment effects, are studied. In particular, the attempt to model for such omission by including possibly irrelevant variables is investigated. This extends the existing knowledge of misspecification...

This retrospective provides a biographical history of Denis Sargan's career and reviews his contributions to econometrics, emphasizing the breadth of his work in both theoretical and applied econometrics. We include a complete bibliography for Denis and a list of PhD theses that he...