This paper presents estimates of key preference parameters of the Epstein and Zin (1989, 1991) and Weil (1989) (EZW) recursive utility model, evaluates the model’s ability to fit asset return data relative to other asset pricing models, and investigates the implications of such estimates for...

Using the life table method, we analyzed in this paper the survival of enterprises that were established from 1980 to 2007 in the Hunan province. Based on the quantile indicators, the average remaining firm lifespan in the specified period of time and the average survival time during a specific...

We provide easy to verify sufficient conditions for the consistency and asymptotic normality of a class of semiparametric optimization estimators where the criterion function does not obey standard smoothness conditions and simultaneously depends on some nonparametric estimators that can...