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1 – 10 of over 51000Hector O. Zapata and Krishna P. Paudel
This is a survey paper of the recent literature on the application of semiparametric–econometric advances to testing for functional form of the environmental Kuznets curve (EKC)…
Abstract
This is a survey paper of the recent literature on the application of semiparametric–econometric advances to testing for functional form of the environmental Kuznets curve (EKC). The EKC postulates that there is an inverted U-shaped relationship between economic growth (typically measured by income) and pollution; that is, as economic growth expands, pollution increases up to a maximum and then starts declining after a threshold level of income. This hypothesized relationship is simple to visualize but has eluded many empirical investigations. A typical application of the EKC uses panel data models, which allows for heterogeneity, serial correlation, heteroskedasticity, data pooling, and smooth coefficients. This vast literature is reviewed in the context of semiparametric model specification tests. Additionally, recent developments in semiparametric econometrics, such as Bayesian methods, generalized time-varying coefficient models, and nonstationary panels are discussed as fruitful areas of future research. The cited literature is fairly complete and should prove useful to applied researchers at large.
Shahram Amini, Michael S. Delgado, Daniel J. Henderson and Christopher F. Parmeter
Hausman (1978) represented a tectonic shift in inference related to the specification of econometric models. The seminal insight that one could compare two models which were both…
Abstract
Hausman (1978) represented a tectonic shift in inference related to the specification of econometric models. The seminal insight that one could compare two models which were both consistent under the null spawned a test which was both simple and powerful. The so-called ‘Hausman test’ has been applied and extended theoretically in a variety of econometric domains. This paper discusses the basic Hausman test and its development within econometric panel data settings since its publication. We focus on the construction of the Hausman test in a variety of panel data settings, and in particular, the recent adaptation of the Hausman test to semiparametric and nonparametric panel data models. We present simulation experiments which show the value of the Hausman test in a nonparametric setting, focusing primarily on the consequences of parametric model misspecification for the Hausman test procedure. A formal application of the Hausman test is also given focusing on testing between fixed and random effects within a panel data model of gasoline demand.
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Maximiliano Cristia and Claudia Frydman
This paper aims to present the verification process conducted to assess the functional correctness of the voting system. Consejo Nacional de Investigaciones Científicas y Técnicas…
Abstract
Purpose
This paper aims to present the verification process conducted to assess the functional correctness of the voting system. Consejo Nacional de Investigaciones Científicas y Técnicas (CONICET) is the most important research institution in Argentina. It depends directly from Argentina’s President but its internal authorities are elected by around 8,000 research across the country. During 2011, the CONICET developed a Web voting system to replace the traditional mail-based process. In 2012 and 2014, CONICET conducted two Web election with no complaints from candidates and voters. Before moving the system into production, CONICET asked the authors to conduct a functional and security assessment of it.
Design/methodology/approach
This process is the result of integrating formal, semi-formal and informal verification activities from formal proof to code inspection and model-based testing.
Findings
Given the resources and time available, a reasonable level of confidence on the correctness of the application could be transmitted to senior management.
Research limitations/implications
A formal specification of the requirements must be developed.
Originality/value
Formal methods and semi-formal activities are seldom applied to Web applications.
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This is a large and complex subject and one which cannot be treated comprehensively and in depth in the course of a short lecture such as this. However, an attempt will be made to…
Abstract
This is a large and complex subject and one which cannot be treated comprehensively and in depth in the course of a short lecture such as this. However, an attempt will be made to acquaint you with the main series of specifications and standards which are employed in the UK to shape and govern the design of aerospace vehicles and to say something about their purpose, broad classification and genesis.
IT IS OF INTEREST TO RECALL THAT while B.S. 210, issued in 1924 was the first British Standard covering mineral lubricating oils, this was not the first time that the British…
Abstract
IT IS OF INTEREST TO RECALL THAT while B.S. 210, issued in 1924 was the first British Standard covering mineral lubricating oils, this was not the first time that the British Standards Institution had paid attention to the petroleum industry. Earlier, in 1921 and 1923 motor spirit and benzol had been covered by B.S.121 and B.S.135 respectively. Shortly after B.S.210, further attention was paid to this field in general by the issue, in 1927, of B.S.148 and in 1929 of B.S.188. B.148 dealing with insulating oils for electrical purposes, has subsequently been revised but in the main is little changed even today. B.S.188 deals with the determination of viscosity in absolute units, a matter closely related to lubricants and of obvious interest to those engaged in lubricant testing and manufacturing control. It is in the process of revision and enlargement and a draft has just been issued for comment.
This paper evaluates the commonly used CPI and WPI proxies for the real exchange rate by comparing them to new measures constructed from a different data series of traded and…
Abstract
This paper evaluates the commonly used CPI and WPI proxies for the real exchange rate by comparing them to new measures constructed from a different data series of traded and nontraded goods prices. The tests provide mixed evidence in favor of using the general price indexes to construct measures of the real exchange rate.
In a certain laboratory in which we spent a short time as an assistant chemist, many years ago now, it was an inflexible rule that any sample sufficiently fluid to be contained in…
Abstract
In a certain laboratory in which we spent a short time as an assistant chemist, many years ago now, it was an inflexible rule that any sample sufficiently fluid to be contained in a bottle should be tested for :— density, colour, viscosity, flashpoint and cold test, quite irrespective of its nature. An approach rather similar to that which prevailed in the treatment of the sick or injured of the army of that day ; firstly a number nine pill for common cold or broken leg.
Mohsen Bahmani, Hanafiah Harvey and Scott W. Hegerty
The Marshall‐Lerner (M‐L) condition, which stipulates that a devaluation or depreciation of its currency will improve a country's trade balance only if the sum of the absolute…
Abstract
Purpose
The Marshall‐Lerner (M‐L) condition, which stipulates that a devaluation or depreciation of its currency will improve a country's trade balance only if the sum of the absolute values of a country's import and export price elasticities are greater than one, is a fundamental tenet of international economics. The purpose of this study is to survey the literature that has tested the M‐L condition, examining in particular whether previous studies' results are statistically significant. The authors then conduct their own estimation of 29 countries' trade elasticities, over the past few decades.
Design/methodology/approach
While mostly a review paper, the paper also applies statistical techniques in two ways. First, the authors use t‐tests on previously‐published statistical results to see if the sums of their elasticities are significantly greater than one. The authors also apply the recently developed ARDL cointegration method, which has a number of attractive statistical properties, to estimate 29 countries' long‐run import and export elasticities and test the M‐L condition using recent data.
Findings
The authors re‐estimation using previous studies' coefficients and standard errors shows that, although the point estimates in many studies suggest that the M‐L condition is met, it really is not met in half of the cases. This lack of evidence is confirmed with the authors' own empirical tests.
Research limitations/implications
Not only does this paper collect the relevant literature in a way that will assist future researchers on the topic, these findings suggest that support for the M‐L condition is much weaker that commonly thought. This therefore makes an important contribution to thinking regarding the potential benefits of devaluation, and to economic theory in general.
Practical implications
Policymakers who hope to improve their countries' competitive position could benefit from learning that this policy is indeed less effective than might be supposed. This could lead to the implementation of more effective economic policies.
Originality/value
As a literature review, the originality of this paper is that it collects relevant studies into one single paper. The statistical analyses allow the reader to re‐interpret these studies' findings in a new light.
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The objective of OSI conformance testing is to provide a standardized and rigorous means of determining the extent to which a specific implementation conforms to an OSI protocol…
Abstract
The objective of OSI conformance testing is to provide a standardized and rigorous means of determining the extent to which a specific implementation conforms to an OSI protocol specification. As part of its ILL Implementation Program, the National Library of Canada has developed a test system and service for the interlibrary loan (ILL) protocol using the ISO standard methodology for conformance testing (ISO 9656). Development of test suites, conformance testing tools, and conformance testing services are presented. The article also discusses related topics such as interoperability testing, arbitration testing, and international harmonization of conformance testing.