Non-nested hypothesis tests provide a way to test the specification of an econometric model against the evidence provided by one or more non-nested alternatives. This paper surveys the recent literature on non-nested hypothesis testing in the context of regression and related models. Much of the...

This paper describes a new approach to the solution of models of spatial price equilibrium. This approach makes use of a type of algorithm which has been used to compute Kakutani fixed points and non-spatial economic equilibria. The algorithm is very different from most employed in the past. It...

The qualitative restrictions implied by the first-order conditions of the optimal tax problem are generally so weak that little can be said as to what constitutes an optimal set of taxes. It is therefore desirable that one have available a technique for computing optimal taxes in a full general...

Maximum likelihood estimation of equation systems with first-order autocorrelation should, in principle, take into account the first observation and associated stationarity condition. In the general case, this leads to computational difficulties compared with conventional procedures, which...

The literature on disequilibrium econometrics has so far dealt only with markets which are always out of equilibrium. This paper proposes two related models of markets which may be in equilibrium in some time periods but out of equilibrium in other periods. The source of the disequilibrium is an...

This paper proposes computationally convenient methods for estimating linear regression models with first-order moving average, or MA(1), error structures. Conditional on alpha, the parameter of the MA(1) process, estimates of the regression coefficients may be obtained by ordinary least...

This paper develops a technique for estimating linear models with second-order autoregressive errors, which utilizes the full set of observations, and explicitly constrains the estimates of the error process to satisfy a priori stationarity conditions. A nonlinear solution technique which is new...

We calculate numerically the asymptotic distribution functions of likelihood ratio tests for fractional unit roots and cointegration rank. Because these distributions depend on a real-valued parameter, b, which must be estimated, simple tabulation is not feasible. Partly due to the presence of...

We calculate, by simulations, numerical asymptotic distribution functions of likelihood ratio tests for fractional unit roots and cointegration rank. Because these distributions depend on a real-valued parameter b which must be estimated, simple tabulation is not feasible. Partly due to the...

This paper provides cumulative distribution functions, densities, and finite sample critical values for the single-equation error correction statistic for testing cointegration. Graphs and response surfaces summarize extensive Monte Carlo simulations and highlight simple dependencies of the...