Purpose- It has been commonly observed that remittance flows to low- and middle-income countries surpassed overseas development assistance. is also often noted the sums remitted through formal channels represent only a fraction of total remittances: large though unknown amount funds finds its way families in migrants’ areas origin informal channels. In Nigeria for instance, there high prevalenc...

The asymptotic distribution of maximum likelihood estimators is derived for a class of exponential generalized autoregressive conditional heteroskedasticity (EGARCH) models. The result carries over to models for duration and realised volatility that use an exponential link function. A key feature of the model formulation is that the dynamics are driven by the score. Keywords: Duration models; g...

We present Neural Autoregressive Distribution Estimation (NADE) models, which are neural network architectures applied to the problem of unsupervised distribution and density esitmation. They leverage the probability product rule and a weight sharing scheme inspired from restricted Boltzmann machines, to yield an estimator that is both tractable and has good generalization performance. We discu...

This paper considers the problem of forecasting in large macroeconomic panels using Bayesian model averaging. Practical methods for implementing Bayesian model averaging with factor models are described. These methods involve algorithms that simulate from the space defined by all possible models. We explain how these simulation algorithms can also be used to select the model with the highest ma...

This research empirically investigated the effectiveness of interest rate policy Federal Reserve (Fed) on managing subprime mortgage crisis. The study employed autoregressive distributed lag model (ARDL) to analyze stability Fed’s monetary policy, thereby providing an alternative analysis tool. Correlation results showed a strong positive and statistically significant relationship between Fed f...

We find the asymptotics of the OLS estimator of the parameters β and ρ in the spatial autoregressive model with exogenous regressors Yn = Xnβ+ρWnYn+Vn. Only low-level conditions are imposed. Exogenous regressors may be bounded or growing, like polynomial trends. The assumption on the spatial matrix Wn is appropriate for the situation when each economic agent is influenced by many others. The as...

The main aim of this paper is to examine the dynamic relationship between three pillars economy: unemployment, inflation, and GDP in Ethiopia using cross-wavelet transform (XWT) analysis, multivariate Student-t generalized autoregressive score (GAS) model, distributed lag (ARDL) model. dynamics indicators were also investigated Toda–Yamamoto (TY) causality test. empirical findings from XWT meth...

Background Ghana has witnessed rapid urban population growth over the past decades, which led to vast environmental, settlement, human, and ecological issues. It is therefore extremely important examine factors that influence in provide policy directions for policymakers. Objectives The article examines impact of financial inclusion on using three different measures inclusion. Methods We applie...

A new mixture autoregressive model based on Student’s t–distribution is proposed. key feature of our that the conditional t–distributions component models are autoregressions have multivariate as their (low-dimensional) stationary distributions. That with such distributions exist not immediate. Our formulation implies mean each a linear function past observations and variance also time varying....