Empirical researchers frequently use dynamic panel data models and employ Generalized Method of Moments (GMM) estimators (Hansen, 1982) to estimate model parameters. An important practical problem in the estimation of a dynamic panel data model is the choice of moments as it provides a large number of moment conditions. Even though adding moment conditions leads to efficiency gain according to ...

Information opacity leads to information asymmetry. In this situation, in providing their own financial needs, firms face limitations and inevitably provide their financial needs from the debt market by signalling private information to it. In addition, information opacity affects the leverage adjustment speed. This research investigates the effect of information opacity on deviation from targe...

‎the aim of this paper is to study distribution of ratios of generalized order statistics from pareto distribution. parameter estimation of pareto distribution based on generalized order statistics and ratios of them have been obtained. inferences using method of moments and unbiased estimator have been obtained to develop point estimations. consistency of unbiased estimator has been illustrate...

The primary concern of this examination is to systematically survey the importance inclusive access finance on growth in terms economy 48 sub-Saharan African (SSA) sovereign states with periodicity from 1995 2017. This study reports results using both static and dynamic estimation techniques. For consistency, baseline finding based Generalized Method Moments (GMM) system GMM. article finds that...

We propose a class of new robust Generalized Method of Moments (GMM) tests for endogenous structural breaks. The tests are based on supremum, average and exponential functionals derived from robust GMM estimators with bounded influence function. We study the theoretical local robustness properties of the new tests and show that they imply a uniformly bounded asymptotic sensitivity of size and p...

This paper develops a finite-sample corrected inference for the efficient generalized method of moments (GMM) in time series. To capture higher-order uncertainty embodied estimating series GMM weight matrix, we extend variance formula Windmeijer (2005) to heteroskedasticity autocorrelated robust (HAR) inference. Using fixed-smoothing asymptotics, show that our test statistics lead standard asym...

the purpose of the paper is to survey and discuss inflation targeting in framework of monetary policy rules. this study design an optimal economy model for iran which compare different cases of domestic and cpi inflation targeting, strict and flexible inflation targeting.in relation to this, the optimal monetary policy rule was designed using three constraints neo-keynesian phillips curve, aggr...

This article establishes the asymptotic distributions of generalized method of moments (GMM) estima-tors when the true parameter lies on the boundary of the parameter space. The conditions allow the estimator objective function to be nonsmooth and to depend on preliminary estimators. The boundary of the parameter space may be curved and/or kinked. The article discusses three examples: (1) instr...

Missing values are endemic in the data sets available to econometricians. This paper suggests a unified likelihood-based approach to deal with several nonignorable missing data problems for discrete choice models. Our concern is when either the dependent variable is unobserved or situations when both dependent variable and covariates are missing for some sampling units. These cases are also con...