This paper examines the effects of microfinance, financial development and foreign aid on income inequality for 43 Sub-Saharan African (SSA) countries. Panel data period 1995–2015 is examined using fixed effects, pooled ordinary least square system generalized method moments (GMM) estimation techniques. Findings suggest that although plays a determining role in explaining dynamics SSA, it does ...

In this paper, a discriminative training procedure for a Gaussian Mixture Model (GMM) language identification system is described. The proposal is based on the Generalized Probabilistic Descent (GPD) algorithm and Minimum Classification Error Rates formulated to estimate the GMM parameters. The evaluation is conducted using the OGI multi-language telephone speech corpus. The experimental result...

Money doesn’t seem to make us happy for reasons of social comparison and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation are actually found in a variety of economic and social activities, rendering policy conclusions more difficult. JEL Classification Codes: D01, D31, H00, ...

This study empirically examines the impact of geographic expansion and income diversification on bank stability in Vietnam between 2006 2015 using system generalized method moments (GMM). The findings show that general can enhance while per se does not. results also indicate state-owned commercial banks could only benefit from rather than diversification. However, foreign ownership tends to pro...

We exploit the distributional information contained in high-frequency intraday data in constructing a simple conditional moment estimator for stochastic volatility di usions. The estimator is based on the analytical solutions of the rst two conditional moments for the integrated volatility, which is e ectively approximated by the quadratic variation of the process. We successfully implement the...

It is shown that e¢ cient GMM (generalized method of moments) estimation of a linear model corresponds to standard IV (instrumental variables) estimation of this model, after transforming it such (as in GLS) that its resulting disturbances have a scalar covariance matrix, while using as instruments the original instruments linearly transformed by the transpose of the inverse of the matrix used ...

I propose a nonparametric iid bootstrap that achieves asymptotic refinements for t tests and confidence intervals based on the generalized method of moments (GMM) estimators even when the model is misspecified. In addition, my bootstrap does not require recentering the bootstrap moment function, which has been considered as a critical procedure for bootstrapping GMM. The elimination of the rece...

The paper presents a non-technical summary of the current state of debate on the measurement and implications of global inequality (inequality between citizens of the world). It discusses the relationship between globalization and global inequality. It shows why global inequality matters and proposes a scheme for global redistribution. JEL classification: D31

This appendix includes material supplementing the manuscript “Survey mode effects on income inequality measurement.” It includes background information in Section 1, an extended description of the methods used in Section 2 as well as robustness checks and additional results in Section 3. JEL Classification: C14, C21, C81, C83, D31