We propose a method to generate flexible mixture distributions that are useful for estimating models such as the mixed logit model using simulation. The method is easy to implement, yet it can approximate essentially any mixture distribution. We test it with good results in a simulation study...

Modeling fractional cointegration relationships has become a major topic in applied time series analysis as it steps back from the traditional rigid I(1)/I(0) methodology. Hence, the number of proposed tests and approaches has grown over the last decade. The aim of this paper is to study the...

This paper analyzes the potential effects of new capital requirements of banks in the WAEMU countries on the cost of credit in Togo. The influence on lending rates is examined through the channel of the of banking concentration. We show from generalized additive models (GAM) and generalized...

Paradoxically, while the economic crisis has had an impact on many economic sectors worldwide automotive industry has become the most important sector of the economy emerging Europe. For Romania, the automotive industry has become a major contributor to achieving the export sector, and major...

This paper is a statistical time-series investigation addressed at testing the anthropogenic climate change hypothesis known as the “hockey-stick”. The time-series components of a select batch of 258 long-term yearly Climate Change Proxies (CCP) included in 19 paleoclimate datasets, all of...

This paper addresses the estimation of the nonparametric conditional moment restricted model that involves an infinite-dimensional parameter g0. We estimate it in a quasi-Bayesian way, based on the limited information likelihood, and investigate the impact of three types of priors on the...

Bayesian partially identified models have received a growing attention in recent years in the econometric literature, due to their broad applications in empirical studies. Classical Bayesian approach in this literature has been assuming a parametric model, by specifying an ad-hoc parametric...

In the literature on program impact evaluation, the popular impact parameters can the average treatment effect, the average treatment effect on the treated, the average partial effect, and the average partial effect on the treated. In empirical studies, these parameters are not always presented...

An attempt is made in this paper to examine whether stock returns in two premier two exchanges in India namely, Bombay Stock Exchange (BSE), and National Stock Exchange (NSE) follow a random walk. Towards this end, data on major indices during the period 1997 to 2009 are analyzed by using...

We propose a semiparametric estimator within the class of indirect methods. Specifically, we model private valuations through a set of conditional moment restrictions. Our econometric model calls for a two step procedure. In the first step we recover a sample of pseudo private values while using...