Independent realization is a commonly used shortcut for deriving forecast properties. It is also an unrealistic assumption in many empirical applications. In this paper we consider the effect of the assumption when deriving the properties of panel data forecasts. To do so, we derive and compare...

In this paper we derive an asymptotic theory for linear panel regression augmented with estimated common factors. We give conditions under which the estimated factors can be used in place of the latent factors in the regression equation. For the principal components estimate of the factor space...

A simple data-dependent filtering method is proposed before applying the Bai–Ng method to estimate the number of common factors in the conventional approximate factor model. The asymptotic justification is provided and the finite-sample performance is examined.

Factor analysis performed on a panel of 23 nominal exchange rates from January 1999 to December 2010 yields three common factors. This paper identifies the euro/dollar, Swiss-franc/dollar and yen/dollar exchange rates as empirical counterparts to these common factors. These empirical factors...

This paper investigates the impact of a significant reform to the youth minimum wage in New Zealand in 2001, on the expectations of low wage employers' profits. In March 2001, the eligibility for adult minimum wage rates was lowered from 20 to 18 years while the youth minimum wage for 16-17 year...

This study empirically explores the determinants of political participation. Using data from the European Social Survey, we investigate the relationship between political participation and personal values, using the Schwartz (1992) values inventory. A political participation hierarchy is...

A considerable literature indicates that class attendance is an important determinant of academic performance but the narrative on what influences students decisions to attend class is scant. This article examines why students choose not to attend class through the use of a survey distributed to...

There is significant research demonstrating the labour market disadvantage experienced by the disabled community. Yet, relationships between wider ill-health concepts and employment are poorly investigated. This article presents an empirical investigation into the impacts of poor mental and...

Health issues may inhibit active participation in the labour market and restrict the types of employment available to an individual. This paper presents an investigation into the influences of mental and physical health on employment type (full time, permanent, fixed term, contract, seasonal and...