This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are cross-sectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem and its implications for estimation and inference. We approach the problem by working with a mis-speci…ed ho...

This paper presents a new approach to modeling speech spectra and pitch for text-independent speaker identification using Gaussian mixture models based on multi-space probability distribution (MSD-GMM). The MSD-GMM allows us to model continuous pitch values for voiced frames and discrete symbols representing unvoiced frames in a unified framework. Spectral and pitch features are jointly modeled...

abstract in this context, this article tries to presents a conceptual model of the factors affecting the government size and empirical test through econometric generalized methods of moments (gmm) by using data from 15 developing countries, review relationship between fiscal decentralization and the government size. the results of dynamic panel data indicate a positive effect of income and expe...

Bu çalışmanın amacı, seçilmiş 20 ülkenin Dünya Bankası ve Genelinde Yönetişim Göstergeleri sitelerinden elde edilen 2000-2018 dönemine ait yıllık verileriyle tarımsal katma değer belirleyicilerinin panel veri analiz yöntemi kullanılarak incelenmesidir. Analizde; sabit etkiler modeli, rassal (tesadüfi) genelleştirilmiş momentler (GMM), sistem GMM robust (dirençli hata) tahmincileri ekonometrik m...

Banking sector openness may directly increase growth by improving the quality of financial services and increasing funds available, or indirectly by improving the efficiency of financial intermediaries, both of which may reduce the cost of financing, in turn, increase capital accumulation and economic growth. The objective of the paper is to empirically reinvestigate these direct and indirect l...

This paper is concerned about the allocation of households’ consumption expenditure over time in a life cycle environment. We construct a pseudo panel from a time series of cross sections using average cohort procedures. The parameters of a CRRA utility function with socio-demographic dependent marginal utility is then estimated by GMM using an Euler approach. Stochastic dynamic programming tec...

Following the present atmosphere of budgetary cuts we analyze the effects of fiscal consolidation on the composition of government expenditures by functions. Using a dynamic voter group decision model and exploiting the panel structure of the dataset – 26 OECD countries over the period 1970-1997by GMM estimation we find that fiscal adjustments protect social expenditure. Nevertheless, we find t...