Journal of Business & Economic Statistics articles

Recent articles from Journal of Business & Economic Statistics

A nonparametric approach to measuring and testing curvature.
January 1, 2005... This article considers the problem of testing curvature (e.g., linearity, concavity, convexity) in a multivariate nonparametric regression model. A measure of curvature, called the simplex statistic, that does not require bandwidth choice and is easy to compute, is introduced. A global test...

Estimating housing demand with an application to explaining racial segregation in cities.
January 1, 2005... We present a three-stage, nonparametric estimation procedure to recover willingness to pay for housing attributes. In the first stage we estimate a nonparametric hedonic home price function. In the second stage we recover each consumer's taste parameters for product characteristics using...

Optimal power for testing potential cointegrating vectors with known parameters for nonstationarity.
January 1, 2005... Theory often specifies a particular cointegrating vector among integrated variables, and testing for a unit root in the known cointegrating vector is often required. Although it is common to simply use a univariate test for a unit root for this test, it is known that this does not take into...

Tests for skewness, kurtosis, and normality for time series data.
January 1, 2005... We present the sampling distributions for the coefficient of skewness, kurtosis, and a joint test of normality for time series observations. We show that when the data are serially correlated, consistent estimates of three-dimensional long-run covariance matrices are needed for testing...

Hedonic price indexes with unobserved product characteristics, and application to personal computers.
January 1, 2005... We show that hedonic price indexes may be biased when not all product characteristics are observed. We derive two primary sources of bias. The first source is a classical selection problem that arises due to changes over time in the values of unobserved characteristics. The second comes from...