This paper investigates the long-run relationship among new hiring, unemployment (job seekers), and unfilled vacancies in Japan, using an annual panel data on 47 prefectures for 1972-1999. We find that these three variables are Ið1Þ processes, and are cointegrated in our panel data. Further, we estimate the panel cointegration equation derived from a Cobb-Douglas matching function by the hetero...

ABSTRACT Proto ols or part of proto ols are frequently reused through proje ts if they are suÆ iently generi . For instan e, the Contra t Net proto ol an be used verbatim or in other proto ols su h as the supply hain management. This reusability might be diÆ ult to do due to the la k of reusability in urrent intera tion proto ol formalisms. In this paper, we present a new approa h based on a mo...

Wheel structures of the Orthogonal Latin Squares (OLS) polytope (PI) are presented in [2]. The current work focuses on the families of valid inequalities arising from wheels and proves that certain among them are facet-defining for PI . For two of these families we provide efficient separation procedures. We also present results regarding odd-hole inequalities, which essentially form a larger c...

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...

Ridge regression is often favored in the analysis of ill-conditioned systems. A canonical form identifies regions in the parameter space where Ordinary Least Squares (OLS) is problematic. The objectives are two-fold: To reexamine the view that ill-conditioning necessarily degrades essentials of OLS; and to reassess ranges of the ridge parameter k where ridge is efficient in mean squared error (...

Failure to allow for autocorrelation of the disturbances in a regression model can lead to biased and inconsistent parameter estimates, particularly if the model is autoregressive. While consistent estimation methods are available which allow for autocorrelation, estimation is usually much easier when there is some assurance that autocorrelation is absent. In pursuit of such assurance the prese...

Recent developments in the econometric estimation of multi-output, multi-input distance functions have provided a promising new solution to the single-output restriction implicit in the standard production function. However, a suspicion that regressor endogeneity may introduce possible simultaneous equations bias has concerned some econometricians. In this paper we show that, under profit maxim...

We consider a number of unit root tests for micro panels where the number of individuals is typically large, but the number of time periods is often very small. As we discuss, the presence of a unit root is closely related to the identification of parameters of interest in this context. Calculations of asymptotic local power and Monte Carlo evidence indicate that two simple t-tests based on ord...

Binary logistic regression is a versatile statistical tool for analyzing binary responses in a wide range of disciplines (see Statnews #44 for an introduction to logistic regression). Similar to ordinary least squares regression, one key assumption in regular binary logistic regression is that observations are independent of each other. Violations of the assumption of independence of observatio...