New tools for understanding spurious regressions

Article Abstract:

Spurious regressions in a number of economic models can be analyzed and corrected using a newly developed general representation theory that uses an orthonormal process to describe a stochastic process. The use of the orthonormal process approximates the continuous functions and stochastic processes by Wiener processes that extends the Weierstrass theorem. This allows the trending process to take into consideration the natural tendency of fitted coefficients to assume random variable characteristics.

Analysis, Statistical sampling, Sampling (Statistics), Regression analysis, Time-series analysis, Time series analysis

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Strict single crossing and the strict Spence-Mirrlees condition: a comment on monotone comparative statics

Article Abstract:

The contention of Milgron and Shannon regarding the reduction of the Spence-Mirrlees single crossing property is equivalent to their order theoretic single crossing property is erroneous given the conditions that fail the Spence-Mirrlees single crossing property condition that continues to uphold the order theoretic single crossing property. The Spence-Mirrlees single crossing property is based on the use of differential techniques to arrive at the quantity.

Approximation theory, Approximation

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Inference on structural parameters in instrumental variables regression with weak instruments

Article Abstract:

Valid inferences on structural parameters in instrumental variables regression with weak instruments were made more accurate through the use of likelihood ratio and Lagrange multiplier type statistics. The effectiveness of the two types of statistics is ased on the limiting distribution of the statistics that are bounded by chi-square distributions whose degrees of freedom are set by the number of instruments.

Evaluation, Asymptotic efficiencies (Statistics), Instrumental variables (Statistics), Instrumental variables

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