Corrigendum to “Characterization of the asymptotic distribution of semiparametric M-estimators” [J. Econometrics 159 (2) (2010) 252–266]

This note provides correction to Ichimura and Lee (2010).     

The Bullionist Controversy: Theory and New Evidence

The Bullionist Controversy in the United Kingdom is one of the first debates about the determination of the price level and the exchange rate under a paper money standard. Despite the importance of the debate in the development of monetary theory, there remains little empirical evidence that uses modern, multivariate time series techniques. The evidence that does exist provides support for the Anti‐Bullionist position. The purpose of this paper is to review the debate and develop a dynamic general equilibrium model that is capable of capturing key features of the nineteenth‐century British financial system. The model is estimated using Bayesian procedures to test the competing hypotheses. The paper provides support for the Bullionist position.     

空间目标的联合矩阵束极点估计

极点作为谐振区雷达目标的最主要电磁特性，具有很大的空间目标识别前景。但是在使用频域观测数据提取目标极点时，存在虚假极点和估计精度问题。针对上述问题，首先通过加窗和截断改进了后时响应信号的获取流程，抑制了虚假极点影响；然后采用最小描述长度法（MDL）估计极点个数，避免了定阶错误引起的虚假极点；最后采用联合矩阵束法估计极点，有效减少了单角度数据估计极点时存在的遗漏极点和虚假极点问题。FEKO软件验证表明，所提算法具有更高的精度和抗噪能力。     

Distribution of residual autocorrelations for multiplicative seasonal ARMA models with uncorrelated but nonindependent error terms

In this paper, we consider portmanteau tests for testing the adequacy of multiplicative seasonal autoregressive moving‐average models under the assumption that the errors are uncorrelated but not necessarily independent. We relax the standard independence assumption on the error terms in order to extend the range of applications of the seasonal autoregressive moving‐average models. We study the asymptotic distributions of residual and normalized residual empirical autocovariances and autocorrelations under weak assumptions on noise. We establish the asymptotic behavior of the proposed statistics. A set of Monte Carlo experiments and an application to monthly mean total sunspot number are presented.     

Returns to women’s education using optimal IV selection

This paper investigates returns to women’s education by applying an optimal IV selection approach, post-Lasso IV estimation, which improves the first-stage predictive relationship between an endogenous regressor and instruments. Using the 2010 American Community Survey, we find that an extra year of education increases married women’s own income by $4,480 and spouse income by $8,822. Our findings indicate that 53% of the increase in women’s consumption by education is attributed to the marriage market, and thus, we conclude that the marriage market is the primary channel through which education improves women’s well-being. The results demonstrate the advantages of the post-Lasso approach: The resulting two-stage least squares estimator maintains efficiency without increasing finite sample bias and is less subject to the inconsistency problem when some instruments are invalid; This differs from the results using the instrument of birth quarters only, which is mostly applied in studies on returns to education.     

A new perspective on the exporter productivity premium: online trade

We use a unique firm-level data set including 9000 companies from 26 European Union countries covering four different sectors to take a close look at the relationship between online exports and productivity. The online exporter productivity premium is estimated using different techniques (ordinary least squares, quantile regressions and robust estimation). Results consistently indicate that the estimated online exporter productivity premium is statistically different from zero, positive and significant from an economic point of view. European online exporters, according to these results, are approximately 2% more productive than non-online exporters. Productivity differences between firms could be related to variables that are not included in the empirical model. More research would be needed to address this issue in the future.     

Determinants of County-Level Voting Patterns In the 2012 and 2016 Presidential Elections

ABSTRACT

County-level data are used to estimate the incumbent-party share of the two-party vote in the 2012 and the 2016 U.S. Presidential elections. Using a ‘seemingly unrelated estimation’ procedure the regression results for the two elections show that there were some clear differences in the size of marginal effects for several key covariates. For example, income inequality, the size of the black male and black female populations, the size of the Hispanic male population and percent of the population with a college degree all had significantly larger coefficients in 2016 than in 2012, producing a larger marginal effect in favour of the Democratic candidate’s vote share. On the other hand, counties with increased poverty rates and counties located on the periphery of urban centres had a significantly larger marginal effect favouring the Republican’s vote share in 2016 compared to 2012. Finally, the regression results show that the effects of third-party vote shares, though not statistically different across the two elections, had a positive impact on the Democratic vote share in both elections.     

基于灰色关联分析的公路工程造价估算研究

目前分析公路工程造价相似性问题过多依赖于主观经验判断法,缺乏有效合理的定量方法,本文利用灰色关联度分析原理,提出一种分析公路工程造价相似性的定量方法。首先选取相似案例库,采用熵值法求出该案例库的重要属性特征权重值,再计算出相似案例库与待估案例的灰色关联度,最后得出待估案例的公路工程造价估算值,并通过实例证明该估算模型研究的可行性。     

博物馆类建筑工程费用估算研究

如何将建设资金控制在批复限额内,防止“三超”现象的出现,是博物馆类建筑投资估算编制的难点。分析博物馆类建筑的设计特点,梳理博物馆类建筑工程费用估算编制中的应注意的问题,总结出其不同于一般公共建筑工程费用构成的特点,旨在为博物馆类建筑工程费用估算的编制提供借鉴。     

Linking of sample data to small areas

We consider methods for estimating the means of survey variables in domains of a finite population, where sample sizes are too small to obtain reliable direct estimates. We construct generalized compositions from the direct and traditional design-based synthetic estimators and propose the methodology for evaluating their coefficients. This methodology measures similarities among sample elements and estimates of the domain means. We propose the compositions for two cases of auxiliary information: domain-level characteristics are available; true means of auxiliary variables are available for the estimation domains, and unit-level auxiliary vectors are known for the sample elements. In the simulation study, we show where the generalized compositions improve the traditional synthetic and composite estimators.