We extend our 2003 paper on instrumental variables and generalized method of moments estimation, and we test and describe enhanced routines that address heteroskedasticity- and autocorrelation-consistent standard errors, weak instruments, limited-information maximum likelihood and k-class...

In this paper, we consider the Cox-type tests of non-nested hypotheses for spatial autoregressive (SAR) models with SAR disturbances. We formally derive the asymptotic distributions of the test statistics. In contrast to regression models, we show that the Cox-type and J-type tests for...

Purpose – Proceeding from studies that, at a general level, identify the extrinsic price cue as a mediator between a wine's perceived and intrinsic merit, the authors aim to report on a tasting‐room experiment conducted to determine the impact of the price cue on sighted ratings across...

Purpose – This study aims to examine country of origin (COO), price and brand effects on Lebanese consumers’ attitudes towards US products and brands while evaluating a low‐involvement product like chocolate. Design/methodology/approach – The research comprised formulation of a detailed...

Big Data offer potential benefits for statistical modelling, but confront problems including an excess of false positives, mistaking correlations for causes, ignoring sampling biases and selecting by inappropriate methods. We consider the many important requirements when searching for a...

We recommend a major shift in the Econometrics curriculum for both graduate and undergraduate teaching. It is essential to include a range of topics that are still rarely addressed in such teaching, but are now vital for understanding and conducting empirical macroeconomic research. We focus on...