Journal of Business & Economic Statistics articles from April 2004

Journal of Business & Economic Statistics archives from April 2004

Modeling regional interdependencies using a global error-correcting macroeconometric model.
April 1, 2004... Financial institutions are ultimately exposed to macroeconomic fluctuations in the global economy. This article proposes and builds a compact global model capable of generating forecasts for a core set of macroeconomic factors (or variables)...

Hierarchical models for employment decisions.
April 1, 2004... Federal law prohibits discrimination in employment decisions against persons in certain protected categories. The common method for measuring discrimination involves a comparison of some aggregate statistic for protected and nonprotected...

Estimation and welfare analysis with large demand systems.
April 1, 2004... We develop an approach for estimating individual or household level preferences for a large set of quality-differentiated goods and for constructing Hicksian welfare measures within the demand system framework. Our approach uses a maximum...

Spatial modeling of house prices using normalized distance-weighted sums of stationary processes.
April 1, 2004... Hedonic models are used almost universally for modeling house prices. Recognizing the importance of location, the past decade has seen increasing effort to introduce spatial considerations into such modeling. When spatial process models are...

Choice behavior under time-variant quality: state dependence versus "play-it-by-ear" in selecting ski resorts.
April 1, 2004... In past studies of consumer loyalty changes in brand attributes over time were generally unobservable and treated as additional model parameters. In this study we consider ski resorts, for which observable quality attributes change frequently....

Assessing generalized method-of-moments estimates of the federal reserve reaction function.
April 1, 2004... Estimating a forward-looking monetary policy rule by the generalized method of moments (GMM) has become a popular approach. We reexamine estimates of the Federal Reserve reaction function using several GMM estimators and a maximum likelihood...