the prime objective of the study is to identify the long-run and short-run relationship between indian stock price viz., bse sensex (hereafter named as bse) and gold price (gold) in india. the daily closing price data were collected for the period of ten years ranging from 1st april 2004 to 31st march 2014 with 2490 observations. the study employed two models: model one used gold as dependent v...

A Wald test with enhanced selectivity capabilities is proposed in homogeneous environments. At the design stage, we assume that the cell under test contains a noise-like interferer in addition to colored noise and possible signal of interest. We show that the Wald test is equivalent to a recently proposed Rao test. We also observe that this Rao/Wald test possesses constant false alarm rate prop...

The detection of differential item functioning (DIF) is an essential step in increasing the validity of a test for all groups. The item response theory (IRT) model comparison approach has been shown to be the most flexible and powerful method for DIF detection; however, it is computationally-intensive, requiring many model-refittings. The Wald test, originally employed by Lord for DIF detection...

The issue of the non-invariance of the Wald test under nonlinear reparametrisations of the restrictions under test is studied from a differential geometric viewpoint. Quantities that can be defined in purely geometrical terms are by construction invariant under reparametrisation, and various attempts are made to construct a Wald test out of such invariant quantities only. Despite the existence ...

The Wald test for linear restrictions on cointegrating vectors is compared in nite samples using the Monte Carlo method. The Wald test within the vector error-correction based methods of Bewley et al. fully modiied ordinary least squares method of Phillips and Hansen (1990), and the band spectral techniques of Phillips (1991) are considered. In terms of test size, Jo-hansen's method seems to be...

The generalized estimating equation (GEE) approach is widely used in regression analyses with correlated response data. Under mild conditions, the resulting regression coefficient estimator is consistent and asymptotically normal with its variance being consistently estimated by the so-called sandwich estimator. Statistical inference is thus accomplished by using the asymptotic Wald chi-squared...