During the past thirty years, there has been considerable concern about combination of forecasts. Many of the articles and books dedicated to this specific area explain and demonstrate that combining multiple individual forecasts can improve forecast accuracy. The improvement in accuracy mainly...

Necessary and sufficient conditions for the equality of ordinary least squares and generalized least squares estimators in the linear regression model with firstorder spatial error processes are given.

Bounds for the efficiency of ordinary least squares relative to generalized least squares estimator in the linear regression model with first order spatial error process are given.

Saving represents one of the most predictable determinants of successful personal and economic development. People desire to save although they tend to postpone saving until they have higher-paying jobs or some stability in their lives. However, in developing countries, where opportunities for...

We distinguish between three types of outliers in a one-way random effects model. These are formally described in terms of their position relative to the main part of the observations. We propose simple rules for identifying such outliers and give an example which involves median-based statistics.

We derive the limiting null distributions of the standard and OLS based CUSUM-tests for structural change of the coecients of a linear regression model in the context of long memory disturbances. We show that both tests behave fundamentally different in a long memory environment, as compared to...