Abstract The paper applies synthetic instruments, initially developed for cross-sectional regression, to estimate dynamic spatial panel data models. These have two main advantages. First, instruments correlated with endogenous variables and yet independent of the errors are difficult find. Not only normally exogenous, but they usually strongly variables, thus help avoid problem weak instruments...

Purpose: The threat of global warming has escalated as a result industrialization, urbanization, population growth, and lifestyle changes in Brazil, Russia, India, China, South Africa (BRICS). amount electricity generated by various sources is directly influenced their respective carbon dioxide (CO2
 ) emissions. This study’s primary goal to determine which are bad for the environment not....

The opinions expressed and conclusions reached by the authors are their own and do not represent any official position or opinion of the sponsoring organizations or their members. The sponsoring organizations make no representation or warranty to the accuracy of the information. Abstract. Copulas with a full-range tail dependence property can cover the widest range of positive dependence in the...

In this paper, we study the asymptotic distributions for least-squares (OLS), fully modi ed (FM), and dynamic OLS (DOLS) estimators in cointegrated regression models in panel data. We show that the OLS, FM, and DOLS estimators are all asymptotically normally distributed. However, the asymptotic distribution of the OLS estimator is shown to have a non-zero mean. Monte Carlo results examine the s...

This paper analyzes self-employment dynamics in West Germany over the time period 1984-2004. Using dynamic multinomial logit panel data models with random effects we are able to analyze the mobility between selfemployment, wage employment and non-employment. This allows us to draw conclusions about state dependence and cross-mobility patterns. The results indicate strong true state dependence i...

We consider within-group estimation of higher-order autoregressive panel models with exogenous regressors and …xed e¤ects, where the lag order is possibly misspeci…ed. Even when disregarding the misspeci…cation bias, the …xed-e¤ect bias formula is quite different from the correctly speci…ed case though its asymptotic order remain the same under the stationarity. We suggest some bias reduction m...

This paper extends the semiparametric eÆcient treatment of panel data models pursued by Park and Simar (1994) and Park, Sickles, and Simar (1998, 2003) to a dynamic panel setting. We develop a semiparametric eÆcient estimator under minimal assumptions when the panel model contains a lagged dependent variable. We apply this new estimator to analyze the structure of demand between city pairs for ...

The most popular econometric models in the panel data literature are the class of linear panel data models with unobserved individualand/or time-specific effects. The consistency of parameter estimators and the validity of their economic interpretations as marginal effects crucially depend on the correct functional form specification of the linear panel data model. Based on an individual-specif...