This paper employs recently developed techniques for testing hypotheses in cointegrated panels to test the strong version of purchasing power parity for a panel of post Bretton Woods data. We compare results using fully modiŽ ed and dynamic OLS approaches , and strongly reject the hypothesis . We also introduce a new between-dimensio n dynamic OLS estimator and Ž nd that the between-dimensio n ...

Most readability formulas calculate a global readability score by combining several indicator values by a linear combination. Typical indicators are Average sentence length, Average number of syllables per word, etc. Usually the parameters of the linear combination are determined by a linear OLS (ordinary least square estimation) minimizing the sum of the squared residuals in comparison with hu...

There is a large literature devoted to the size of the response of nominal interest rates to changes in expected inflation, the Fisher effect. The interest in the topic stems from the implications of the Fisher effect for both asset pricing models and monetary neutrality propositions. Unfortunately no consensus has been achieved concerning the Fisher effect. Part of the problem for this has bee...

A linear model based on the spherical coordinate system is employed for tting a spherical surface to a data set obtained by a coordinate measuring machine (CMM). In practice, measurement data may have unequal accuracy on the diierent coordinate axes, thus a liner model with heteroscedastic variance of random errors is considered. A feasible weighted least squares estimate is proposed and its su...

The Lasso achieves variance reduction and variable selection by solving an 1-regularized least squares problem. Huang (2003) claims that ‘there always exists an interval of regularization parameter values such that the corresponding mean squared prediction error for the Lasso estimator is smaller than for the ordinary least square estimator’. This result is correct. However, its proof in Huang ...

This appendix contains additional analyses that we mention but do not report in the paper to preserve space.  Table IA.1: Cross-sectional gravity models (baseline equation (2)) on a sample that includes the natural resources industries.  Table IA.2: Cross-sectional gravity models (baseline equation (2)) with acquirer and target country fixed effects (instead of acquirer and target country cha...

In seepage problems, the coefficients of permeability in Laplace equation are usually assumed to be constant vs. both space and time; but in reality these coefficients are variable. In this study, the effect of material deformation due to external loads (consolidation) and variation of head in the consolidation process are considered. For the first case, formulation of kx and ky can be defined ...

Ordinary least square regression is one of the most widely used statistical methods. However, it is a parametric model and relies on assumptions that are often not met. Alternative methods of regression for continuous dependent variables relax these assumptions in various ways. This paper will explore PROCS such as QUANTREG, ADAPTIVEREG and TRANSREG for these data.