We take a fresh look at Theil’s BLUS residuals and ask why they have gone out of fashion. All our simulation experiments indicate that tests based on BLUS residuals have higher power than those based on the more popular recursive residuals, even in those cases (structural breaks) where intuition would favour the recursive residuals. JEL Classification: B23; C10; C13; C20

In this paper a fuzzy and cointegration analysis are used to forecast tourist demand in Greece. In the first part, Johansen’s maximum likelihood techniques are applied to estimate the long-run relationships for the principal five tourist generating countries in Greece. In the second part, the estimated error correction terms are introduced to the first difference models to estimate the five sho...

Changes in biodiversity owing to vegetation degradation resulting from widespread urbanization demands serious attention. However, the connection between vegetation degradation and urbanization appears to be complex and nonlinear, and deserves a series of long-term observations. On the basis of the Normalized Difference Vegetation Index (NDVI) and the image’s digital number (DN) in nighttime st...

Adiqa Kiani ABSTRACT Using Tornqvist-Theil Index, average annual total factor productivity (TFP) growth rate of all major and minor crops in NWFP is found to be 1.5 percent, during 1969-2004. The marginal internal rate of return to provincial investment in research for TFP growth was in the range of 34 to 42 percent over the same period. Almon distributed lag model has also been estimated, usin...

A laboratory experiment and two field studies were used to compare the accuracy of three methods that allow judgmental forecasts to be integrated with statistical methods. In all three studies the judgmental forecaster had exclusive access to contextual (or non time-series) information. The three methods compared were: (i) statistical correction of judgmental biases using Theil’s optimal linear...

The purchasing managers’ index (PMI) is a simple subjective survey about the state of the manufacturing sector of the national economy. It’s an early indicator of the nation’s economic strength with effects extending into federal monetary policy and the financial markets. It is a composite index comprising the weighted average of new orders, production, employment, supplier deliveries, and inve...

The regional policy in China is shifting from solely gross domestic product (GDP) orientation to development that is more balanced between economic growth and ecological protection, as well as achieving equality among regions. Using land use maps and the adjusted value coefficients to assess ecosystem service values (ESV) for the 1980s, 1995, 2000, and 2010, we estimated the ESV in Shaanxi Prov...

Metrics are usually defined on a micro level like methods, classes and packages. These are failed to provide an adequate picture of the entire system effectively. By combine different metrics with varying output values and ranges to get insight in the evolution of the macro level system. We listed various metrics like Product, Project & Process and also various aggregation techniques in Traditi...

This article provides a look at business concentration for sales and assets for the period 1967 to 2002 based on Theil’s entropy, a measure adopted by several authors in earlier publications. For contrast, three other well-known measures of concentration, the HirschmanHerfindahl (HHI) index and the 4-firm and 8-firm concentration ratios, CR4 and CR8, were utilized. Data used were sales and asse...