Practitioners corner: estimating nested count data models

Article Abstract:

Count data models can be used not only in applied economics and finance but also in various fields covering biometrics to political science. The most widely used model specifications in count data analysis are Poisson and negative binomial (NB). NB models, as compared with the Poisson model, permits overdispersion and uses two particular model specifications, the NBI and NBII. However, the models have a limited scope in terms of the relationship between the conditional mean and variance of the dependent variable.

Models, Numerical analysis, Poisson's equation, Negative binomial distribution

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United States trade balance announcements: the nature of its data revisions

Article Abstract:

Revisions in the US trade trade balance announcements were found to represent measurement errors rather than forecast errors. Empirical tests are used to determine whether the revisions in the trade balance are considered classical measurement errors, efficient forecast errors or inefficient forecast errors. The Generalized Method of Moments is used to estimate and test to cover serial correlation and conditional heteroskedasticity.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Business Aid & Regulation NEC, United States, Powers and duties, United States. Department of Commerce, Business assistance

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Data revision and market response: the case of United States trade balance announcements

Article Abstract:

The importance of revised data vs. preliminary data in determining market response to economic news was investigated. Specifically, the Commerce Dept.'s monthly trade balance disclosures were tracked to analyze its influence on economic agents controlling the exchange market's dollar rate. To this end, market responses to both preliminary and revised figures were compared using a new methodology to forecast trade balance figures.

Research, Foreign exchange market

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