Panel LM unit root tests with level and trend shifts

This paper considers a Lagrange multiplier (LM) based panel unit root test that allows for heterogeneous structural breaks in both the intercepts and slopes of a series. We note that many popular time series variables are likely to exhibit changing means and/or trends over time. Given that the usual tests will depend on the nuisance parameters indicating the locations of the trend breaks, we adopt a transformation procedure that makes our new panel unit root tests invariant to the nuisance parameters. To illustrate the importance of the power gain provided by our test, we examine the convergence hypothesis using relative ratios of per capita health care expenditures in 20 OECD countries. Our results provide evidence that the convergence hypothesis is supported.     

WAVE INTERACTION WITH PERFORATED CAISSON BREAKWATERS

The reflection coefficient of perforated caissons and the total horizontal forces acting on them were experimentally and numerically analyzed and discussed when wave propagates normally. To consider the viscosity effect of fluid and nonlinear action of waves on structures, the VOF (Volume Of Fluid) method combined with the k-ε turbulence model was used to simulate the interaction between waves and structures. Governing equations were solved with the finite difference method. Through 2D experimental study in the wave flume, the empirical relationship between the reflection coefficient of perforated caissons and the main affecting factors were obtained from the experimental data using the least square method. Also the correlation between the ratio of the total horizontal force acting on perforated caisson and the force acting on solid caisson and the main affecting factors were regressed from the experimental data.     

温州市龙湾段标准堤工程软土地基变形原位观测

温州市龙湾段标准堤地基土中普遍存在一层海积淤泥,其强度低,压缩性高,承载力低,不能满足标准堤填筑及水闸运行的要求。采用预压法进行地基处理,取得的地基沉降、水平位移、孔隙水压力等现场观测资料,总结分析了该段海积淤泥地基的变形规律和特点。并提供了有关的原型观测数据,其沉降曲线规律性较好。     

HYDRODYNAMIC FORCE ON SMOOTH HORIZONTAL CYLINDER IN UNIFORM OSCILLATORY FLOW

ＨＹＤＲＯＤＹＮＡＭＩＣ　ＦＯＲＣＥ　ＯＮ　ＳＭＯＯＴＨ　ＨＯＲＩＺＯＮＴＡＬ　ＣＹＬＩＮＤＥＲ　ＩＮ　ＵＮＩＦＯＲＭ　ＯＳＣＩＬＬＡＴＯＲＹ　ＦＬＯＷＨＹＤＲＯＤＹＮＡＭＩＣＦＯＲＣＥＯＮＳＭＯＯＴＨＨＯＲＩＺＯＮＴＡＬＣＹＬＩＮＤＥＲＩＮＵＮＩＦ...     

大坝水平位移监控指标拟定的混合法

用混合法拟定了大坝水平位移的监控指标，即通过结构分析和建立数值 模型，计算大坝水平位移的水压分量和给定概率水平下的温度分量极值，进而拟定水平位移 监控指标，并给出了实例。     

水平井筒变质量分散泡状流压降的理论与实验研究

由于水平井筒和常规水平管道中气液两相流动的相似和差别，可以预知常规水平管流的压降计算方法对于井筒流动来说就需要进行修正或扩展。本文对气、液两相分别应用质量守恒方程和动量守恒方程，考虑管壁存在人流或出流对于分层流流型压降的影响，得到水平井筒气液两相变质量流动分散泡状流流型的压降计算方法。同时，设计并建立了水平井筒流体流动模拟实验装置，在轴向为气液两相流动的前提下分别进行了上管壁单孔眼注入和下管壁单孔眼注入的压降实验研究，获得了大量的实验数据。实验数据和理论计算结果吻合很好，这表明该计算方法具有实际应用价值。     

潮汐河口平面二维非恒定流数值模拟

本文基于三角形网格划分，采用有限元法，建立了平面二维非恒定潮流数学模型。采用了质量集中、压缩存储的处理方法和“预估校正”的时间推进算法，较好地解决了有限元计算存储量和计算速度问题。对长江口南北支河段进行了验证计算，结果表明模型能较好模拟长江口南北支河段的潮流运动情况，且计算稳定性好、速度快、精度高。     

Evidence on the existence of speculative bubbles in farmland prices

We conduct tests for the contribution of speculative bubbles to farmland prices. These tests are carried out under the hypothesis that farmland investors rationally form expectations. The outcome of tests reported here allows us to infer whether farmland prices are determined by market fundamentals-discounted returns from the highest economic land use-or whether rumors about farmland price movements are self-fulfilling. The tests are stationarity and cointegration tests relating farmland prices to rents. The tests are carried out using data from three farm production regions-the Corn Belt, the Northern Plains, and the Lake States. In each region, we find little evidence to reject the hypothesis that market fundamentals determine farmland prices.     

The adequacy of asymptotic approximations in the near-integrated autoregressive model with dependent errors

We consider the normalized least squares estimator of the parameter in a nearly integrated first-order autoregressive model with dependent errors. In a first step we consider its asymptotic distribution as well as asymptotic expansion up to order O_p(T⁻¹). We derive a limiting moment generating function which enables us to calculate various distributional quantities by numerical integration. A simulation study is performed to assess the adequacy of the asymptotic distribution when the errors are correlated. We focus our attention on two leading cases: MA(1) errors and AR(1) errors. The asymptotic approximations are shown to be inadequate as the MA root gets close to −1 and as the AR root approaches either −1 or 1. Our theoretical analysis helps to explain and understand the simulation results of Schwert (1989) and DeJong, Nankervis, Savin, and Whiteman (1992) concerning the size and power of Phillips and Perron's (1988) unit root test. A companion paper, Nabeya and Perron (1994), presents alternative asymptotic frameworks in the cases where the usual asymptotic distribution fails to provide an adequate approximation to the finite-sample distribution.