Power of tests in binary response models: comment

Article Abstract:

Econometrics does not believe in the notion of a perfect classifier. Therefore, using the binary response model for testing hypotheses, and should not recognize the configurations of parameters under the assumption that power is low. Power of the test is determined to be close to zero, in most instances for values of slope coefficient that is large enough in absolute value. It is standard practice to assume that the power against the alternatives are arbitrarily close to zero.

Instrumental variables (Statistics), Instrumental variables

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Efficient semiparametric estimation of expectations

Article Abstract:

The question of estimation of an expectation function in parametric models is simplified while the same process is seen as more complex in semiparametric models. The expectation function is achieved or approximated through the Monte Carlo simulation and then evaluated at estimates. Models of expectations have significant roles in the estimate functions and can be implemented in nonlinear models under relaxed distributional assumptions.

Estimation theory, Parameter estimation

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A Divisible Search Model of Fiat Money: a comment

Article Abstract:

Shouyong Shi's article in Econometrica, 65, "A Divisible Search Model of Fiat Money," uses a version of the Kiyotaki/Wright economic model and assumes that individuals are specifically matched with other individuals during financial transactions. A serious error in this paper is in not correctly stating the bargaining problem.

Science & research, Statistical Data Included, Economic research, Authorship, Shi, Shouyong

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