We construct the large sample distributions of the OLS and GLS R^2’s of the second pass regression of the Fama-MacBeth (1973) two pass procedure when the observed proxy factors are minorly correlated with the true unobserved factors. This implies an unexplained factor structure in the first...

A sizable empirical literature relates a nation's Olympic performance to socioeconomic factors by adopting linear regression or a Tobit approach suggested by Bernard and Busse (2004). We propose an alternative model where a nation's medal share depends on its competitiveness relative to other...

Why do over 20% of children die in some poor countries, while in others only 2% die? We examine this question using survey data covering 278,000 children in 45 low-income countries. We find that parents’ education and a mother’s propensity to seek out modern healthcare are empirically...

We conducted a survey covering 20% of villages with 200-1000 population in rural Guinea-Bissau. We interviewed household heads, care-givers of children, and their teachers and schools. We analysed results from 9,947 children, aged 7-17, tested for literacy and numeracy competency. Only 27% of...

Why do over 20% of children die in some poor countries, while in others only 2% die? We examine this question using survey data covering 278,000 children in 45 low-income countries. We find that parents' education and a mother's propensity to seek out modern healthcare are empirically important...

We conducted a survey covering 20% of villages with 200-1000 population in rural Guinea-Bissau. We interviewed household heads, care-givers of children, and their teachers and schools. We analysed results from 9,947 children, aged 7-17, tested for literacy and numeracy competency. Only 27% of...

We conducted a survey covering 20% of villages with 200-1000 population in rural Guinea-Bissau. We interviewed household heads, care-givers of children, and their teachers and schools. We analysed results from 9,947 children, aged 7-17, tested for literacy and numeracy competency. Only 27% of...

We propose a likelihood-based framework for cointegration analysis in panels of a fixed number of vector error-correction (VEC) models. We obtain likelihood ratio statistics to test for a common cointegration rank across the individual VEC models with both heterogeneous and homogeneous...