Ordinary Least Square

Child labour widely measured by child labour participation rates in literature is considered by non-attendance rates in primary education in this study. Along with this approach, it is attempted to investigate in what closeness the child labour ratios of countries are also measured by ...

With increasing liquidity of the Indian sovereign debt market since 1997, it has become possible to estimate the term structure in India. However, the market is characterised by several frictions that cause individual securities to be priced differently from the 'average' pricing in the ...

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This study critically examined the effects of international trade on Nigeria’s economic growth, for the period 1980 to 2018.The ordinary least squares technique was employed to estimate the effects of international trade on Gross Domestic Product (GDP), time series data on variables considered relevant indicators of economic growth and international trade were used. The result of the study shows that there is a significant impact of Export trade on the Nigerian economic growth. The study also shows that there are no significant effects of import trade on the economic growth Nigerian for the period under study. Therefore, the study recommends that policy makers should adopt policies that are favourable to trade environment this will stimulate foreign trade leading to increase exports and reduced imports which has a drain on the nations’ resources while government should also encourage export diversification into non-oil sector

This study is undertaken to determine the relative impacts of the uncertainty of macroeconomic variables on investment and make policy recommendations that may help dampen their fluctuations. In the study, generalized autoregressive conditional heteroscedasticity (GARCH) model was applied in the estimation of uncertainty of the macroeconomic variables. In the analysis of the data, econometric results were obtained from cointegration test

This study is an attempt to investigate trade–labor market linkages in Pakistan. Our main hypothesis that trade liberalization leads to an increase in labor-demand elasticity is empirically verified using a panel data approach for the period 1970/71–2000/01 for 22 selected manufacturing industries in Pakistan. We use ordinary least squares to estimate models in levels and first-differences, in addition to a fixed effects model. Overall, our findings suggest weak evidence of increased labor-demand elasticity as a result of trade liberalization in Pakistan’s manufacturing sector. Nor does the study find support for a positive labor market and trade linkage from an employment point of view—as otherwise suggested by standard trade theory. This may be due to increased capital intensity in the manufacturing sector by time, and the infusion of new technology. It could also be attributed to labor market imperfections preventing trade liberalization from favorably influencing employment cond...

In this paper, fractional integrating dynamics in the return and the volatility series of stock market indices are investigated. The investigation is conducted using wavelet ordinary least squares, wavelet weighted least squares and the approximate Maximum Likelihood estimator. It is shown that the long memory property in stock returns is approximately associated with emerging markets rather than developed ones while strong evidence of long range dependence is found for all volatility series. The relevance of the wavelet-based estimators, especially, the approximate Maximum Likelihood and the weighted least squares techniques is proved in terms of stability and estimation accuracy.

The long run Phillips curve has been a controversial topic for many economists such as Friedman (1968) and Lucas (1972) among others since the 70's. Many new studies concerning the impact of downward nominal wage resistance hypothesis on the long run Phillips curve have enriched the empirical literature. However, the essential idea of this study is to examine the evidence of this hypothesis and its impact on the long run Phillips curve in Tunisia. Relying on annual data covering the period 1962-2004, we estimate two models of the Phillips curve: one is standard and the other with downward nominal wage rigidity in which we are inspired by the works of Akerlof, Dickens and Perry (1996). We adopt two estimation methods: the Ordinary Least Square and the Non Linear Least Square. Our results suggest a possibility of a long run unemployment inflation trade off incorporating the downward nominal wage rigidity hypothesis.

The study sets out to measure how the taxation of dividend and debt affects firm value. Tax hypothesis predicts that firm value is negatively related to dividends and positively related to debt. The study covered 1197 firm-year observations of manufacturing firms in Nigeria from 1984 to 2000. To achieve the objective, the study estimated the model on the average values for each firm and tested for industry effects using the ordinary least square (OLS) method. We found the opposite of tax hypotheses predictions from the regression results. We hypothesized that the relationship between dividends, debt and firm value will be affected by the size of the firm. We therefore partitioned the firms into two on the basis of size measured as market capitalization. We estimated separate equations for each sub-sample and found positive relationship between dividend and firm value and negative relationship between debt and firm value in both small-sized firms and big firms? sub-sample. The study ...

This paper derives unbalanced versions of the test statistics for first-order serial correlation and random individual effects summarized in Sosa-Escudero and Bera (2001, Stata Technical Bulletin Reprints, vol. 10, pp. 307–311), and updates their xttest1 routine. The derived test statistics should be useful for applied researchers faced with the increasing availability of panel information where not every individual or country is observed for the full time span. The test statistics proposed here are based on ordinary least-squares residuals and hence are computationally very simple.

We describe a point-intercept sampling technique that reduces the time and therefore the cost associated with hand sorting biomass extracted from soil cores. Typically, organic material that has been extracted from soil cores is painstakingly separated into categories such as roots, leaves, and unidentifiable organic matter so that each can be weighed. With the point-intercept method, we spread the ex-

In this study we investigate spatial dimensions of housing-market dynamics in the City of Milwaukee by modeling the determinants of housing prices. From the 2003 Master Property data file of the city, two sets of owner-occupied single-family houses were randomly selected (one to construct the models, and the other to rest the models). Besides conventional housing attributes, remote-sensing information, in particular the fractions of soil and impervious surface representing degraded neighborhood environment conditions, is added to improve the model. Spatial regression and geographically weighted regression approaches are employed to examine spatial dependence and heterogeneity. Results reveal that these spatial models tend to perform better, especially in terms of model performance and predictive accuracy, than the ordinary least squares estimates.

Abstract.  This paper analyses how outliers affect the identification of conditional heteroscedasticity and the estimation of generalized autoregressive conditionally heteroscedastic (GARCH) models. First, we derive the asymptotic biases of the sample autocorrelations of squared observations generated by stationary processes and show that the properties of some conditional homoscedasticity tests can be distorted. Second, we obtain the asymptotic and finite sample biases of the ordinary least squares (OLS) estimator of ARCH(p) models. The finite sample results are extended to generalized least squares (GLS), maximum likelihood (ML) and quasi-maximum likelihood (QML) estimators of ARCH(p) and GARCH(1,1) models. Finally, we show that the estimated asymptotic standard deviations are biased estimates of the sample standard deviations.

The labour market is a very important source that offers explanation for earnings and income inequality. The structure of the labour market has a significant consequence on employment status and it serves as an important determinant of household income and welfare. Like most labour markets in developing countries, the Nigerian labour market represents one of the major sources of risk

1,2 Laboratory of Applied and Computational Statistics, Institute for Mathematical Research, University Putra Malaysia, 43400 Serdang, Selangor, MALAYSIA ... 3 Department of Mathematical Sciences, Ball State University, Muncie, IN 47306, USA E-mail: 1 ...

... livestock from the hill-country to the marketplace have also affected the drive for more breeding and raising of goats. ... criticized on the ground that they provide historical descriptions with little policy guidance for agricultural development and small farmers welfare improvement ...

Retaining employees is a major goal of internal marketing. Internal marketing is often performed through direct interpersonal communication. Leader-Member Exchange (LMX) theory informs how such communication and retention may take place. The Leader-Member Exchange measurement model and a proposed structural equation model are tested. The test produced two factors, consistent with extant LMX-7 and LMX-6 measure, that combined into a second order factor. The model suggests that employees that communicate frequently with their immediate supervisor develop high quality LMX and will successfully negotiate different, and better, role and employment parameters, than those who do not engage in such communication, thus having less of an intent to turn. Findings regarding member pay appear counterintuitive. Multiple tests of the structural equation model using both ordinary least squares and maximum likelihood approaches were successful.