This article examines the causal link between family background characteristics—parental education and family size—and returns to schooling. I implement a model of schooling and earnings with heterogeneous returns to education using data from the Occupational Change in a Generation Survey. I find that men raised in larger families have substantially lower returns to education, whereas the combi...

The stability of the rational expectations equilibrium of a simple asset market model is studied in a situation where a group of traders learn about the relationship between the price and return on the asset using ordinary least squares estimation, and then use their estimates in predicting the return from the price. The model which they estimate is a well-specified model of the rational expect...

By using the Flexible Least Squares (FLS) method, this study visibly shows the time variation paths of risk loadings for industrial stocks. Significant structural changes in time variation paths of risk loadings are verified by the OLS results and largely consistent with major economic and political events in the U.S. history.

Using panel data, this paper tests whether public and private capital have a positive and significant effect on aggregate output and labor productivity for Mexico during the 1960-2001 period. The richer information set made possible by the sectorial data enables this study to utilize the methodologically sound “group-mean” Fully Modified Ordinary Least Squares (FMOLS) procedure developed by Ped...

Schloss Reisensburg. Physica-Verlag, 1994. Summary Traditional tests of the accuracy of statistical software have been based on a few limited paradigms for ordinary least squares regression. Test suites based on these criteria served the statistical computing community well when software was limited to a few simple procedures. Recent developments in statistical computing require both more and l...

This paper reviews a set of recent studies that have attempted to measure the causal effect of education on labor market earnings by using institutional features of the supply side of the education system as exogenous determinants of schooling outcomes. A simple theoretical model that highlights the role of comparative advantage in the optimal schooling decision is presented and used to motivat...

This study examines the effects of a technology­intensive course design on students’ final grades in a criminology program at an upper­division university in the southwest. Ordinary least squares (OLS) regression analyses indicated that the presence of a technology­intensive curricu lum alone did not significantly improve student performance. However, interaction effects revealed that the techn...

We develop a general measure of estimation accuracy for fundamental research designs called v. The v measure compares the estimation accuracy of the ubiquitous Ordinary Least Squares estimator, which includes sample means as a special case, to a benchmark estimator which randomizes the direction of treatment effects. For sample and effect sizes common to experimental psychology, v suggests that...

Item non-response occurs when respondents fail to provide answers to some or all of the questions posed during survey interviews. The standard procedure is to exclude such responses from the econometric analysis. This may be appropriate if the sample included does not differ significantly from those excluded in the analysis. If this is not the case, the econometric analyst faces a sample select...

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...