I. Introduction: The Least Squares method of estimation of parameters of linear (regression) models performs well provided that the residuals (disturbances or errors) are well behaved (preferably normally or near-normally distributed and not infested with large size outliers) and follow Gauss-Markov assumptions. However, models with the disturbances that are prominently non-normally distributed...

Purpose – The relationship between energy consumption (EC) and economic growth is a well-known and more studied subject in literature. In this study, Turkey’s EC and gross domestic product (GDP) relation is analyzed. The aim of this study is to find out the relative importance of energy components on GDP for Turkey. Hence, the authors can make some strategic implications up to the importance of...

We develop a method for measuring the foresight agents have. We first dichotomize an agent’s information at current date t into knowledge up to date t 1 f and expectations after t 1 f. We then form a residual-based test statistic that allows us to compare prediction errors for econometric models based on different values of f. We illustrate the method, examining investment around tax reforms to...

In this paper, the three major indexes of production factor, agglomeration state and national policy influencing the difference were extracted on the basis of the research on China’s regional difference in culture industry and the empirical analysis was made according to the Theil Index and analysis model of spatial autocorrelation index and numerical theory of spatial econometric model by use ...