<title>Abstract</title>We propose a pairwise difference estimator for partially linear spatial autoregressive models with heteroscedastic or/and spatially correlated error terms. In comparison with other competing estimators, e.g. the profile QMLE (Su & Jin, 2010) and the semiparametric GMM estimator (Su,...

This article examines the impact of the boundary specification problem upon the estimation of spatial autoregressive models within an instrumental variable (IV) framework. We show the usual IV estimator remains consistent and asymptotically normal, but incurs an asymptotic bias of order...

Estimating binary choice models with endogeneity is of considerable importance in microeconometrics. The leading control function approach does not apply when the endogenous variable is binary. We propose a multi-stage estimation procedure for a heteroscedastic binary choice model with an...

Su and Jin (2010) develop for partially linear spatial autoregressive (PL-SAR) model a profile quasimaximum likelihood based estimation procedure. More recently, Su (2011) proposes for this model a semiparametric GMM estimator. However, both of them can be computationally challenging for applied...

Lee (2003) proposed for spatial autoregressive (SAR) model the best spatial two-stage least squares estimator (BS2SLSE) as an improvement on Kelejian and Prucha (1998)¡¯s S2SLSE. In this paper, we show that one more step iteration based on BS2SLSE gives a spatial counterpart of the three-stage...

This note proposes a computationally simple estimator for quantile regression in a linear model context, as an alternative to Koenker and Bassett’s (1978) algorithm. The new estimator can remedy several drawbacks associated with Powell’s (1986) censored quantile regression estimator.

In the process of China's foreign exchange reform, the so-called swap market was a key element. Despite the problems it caused, notably those associated with a dual exchange rate, the paper argues that the swap market proved to be a useful transition mechanism for China's foreign exchange...

Being the world's largest developing economy, China's successful economic performance since 1978 has had a powerful impact on the global economy. Its open policy features with an evolutionary process, involving the gradual liberalisation of foreign exchange, international trade and foreign...

In this note, we consider a coherent system with the property that, upon failure of the system, some of its components remain unfailed in the system. Under this condition, we study the residual lifetime of the live components of the system. Signature based mixture representation of the joint and...