Consumer theory maximizes utility subject to a budget constraint, ignoring that the ratio of consumer debt to disposable income has varied between 30% and 130%. Granger-causality tests also confirm Consumption-precedence over income. We discuss features of newer US data allowing families greater...

Karl Pearson developed the correlation coefficient r(X,Y) in 1890's. Vinod (2014) develops new generalized correlation coefficients so that when r*(Y|X) r*(X|Y) then X is the "kernel cause" of Y. Vinod (2015a) argues that kernel causality amounts to model selection between two kernel...

Certain lawyers are asking the president-elect Trump and family to sell all his assets including vast world-wide real estate at fire-sale prices and place the proceeds in a blind trust or US Treasury bonds. This will be very disruptive, unfair and may discourage future global entrepreneurs from...

We report a simulation study where we want to consider a fairly simple data generating process (DGP) used in Nordman and Lahiri (JASA, 2012) with a single fixed regressor and regression errors produced by simple AR(1) processes. We focus on the estimation of standard errors of regression...

While moving block bootstrap (MBB) has been used for mildly dependent (m-dependent) time series, maximum entropy (ME) bootstrap (meboot) is perhaps the only tool for inference involving perfectly dependent, nonstationary time series, possibly subject to jumps, regime changes and gaps. This brief...

Partial derivatives have a special place in economics since the marginal revolution of the 1850s. We present results from multivariate partial derivative estimates using nonlinear non-parametric regressions in a finite difference method, accessible via the R-package NNS. Numerical partial...

We show that the abstract and conclusion of Hansen's Econometrica paper, Hansen (2022) entitled a modern Gauss-Markov theorem (MGMT) obscures a material fact, which in turn can confuse students. The MGMT places ordinary least squares (OLS) back on a high pedestal by bringing in the Cramer-Rao...

We explain the usage of the following new R functions in my package called ‘generalCorr’ Vinod (2021b). The function sudoCoefParcor() is for pseudo regression coefficients from kernel regressions. They are a nonlinear version of regression coefficients from standardized data. The functions...

We offer state-wise forecasts of COVID-19 pandemic deaths for the week ending August 10, 2020 based on a sample selection model to correct for rationed and biased testing for the virus. We refer the reader to our earlier papers including Vinod and Theiss (2020b) and Vinod and Theiss (2020a),...