Empirical likelihood ratio tests for the linear regression model with inequality constraints

Abstract

In this article, empirical likelihood is applied to the linear regression model with inequality constraints. We prove that asymptotic distribution of the adjusted empirical likelihood ratio test statistic is a weighted mixture of chi-square distribution.     

Maximum Likelihood Estimation and Inference in Multivariate Conditionally Heteroscedastic Dynamic Regression Models With Student t Innovations

We provide numerically reliable analytical expressions for the score, Hessian, and information matrix of conditionally heteroscedastic dynamic regression models when the conditional distribution is multivariatet. We also derive one-sided and two-sided Lagrange multiplier tests for multivariate normality versus multivariate t based on the first two moments of the squared norm of the standardized innovations evaluated at the Gaussian pseudo-maximum likelihood estimators of the conditional mean and variance parameters. Finally, we illustrate our techniques through both Monte Carlo simulations and an empirical application to 26 U.K. sectorial stock returns that confirms that their conditional distribution has fat tails.     

Generalization of the order-restricted information criterion for multivariate normal linear models

The generalized order-restricted information criterion (goric) is a model selection criterion which can, up to now, solely be applied to the analysis of variance models and, so far, only evaluate restrictions of the form Rθ≤0$R\theta \le 0$, where θ$\theta$ is a vector of k group means and R   a _cm×k$c_m\times k$ matrix. In this paper, we generalize the goric in two ways: (i) such that it can be applied to t  -variate normal linear models and (ii) such that it can evaluate a more general form of order restrictions: Rθ≤r$R\theta \le r$, where θ$\theta$ is a vector of length tk, r a vector of length c_m, and R   a _cm×tk$c_m\times \mathit{tk}$ matrix of full rank (when r≠0$r\ne 0$). At the end, we illustrate that the goric is easy to implement in a multivariate regression model.     

Why can't we get what we want? Inequality and the early discursive practice of the sixth Labour government

ABSTRACT

Focus groups convened in New Zealand in 2014 confirmed a major finding of previous research: that while most people are concerned about existing levels of economic inequality, there is considerable uncertainty over whether and how a more equal distribution might be achieved. In asking why participants acquiesced to views that they did not like, the article suggests that they lacked a language in which to imagine or articulate their preferred alternative, partly because structural critiques of the status quo have become increasingly marginal within the wider public sphere. This observation sets the scene for an analysis of the discursive practice of Jacinda Ardern and the Labour Party during the 2017 election campaign and in the November 2017 Speech from the Throne. The article asks whether this practice represents a departure from – and a challenge to – the discursive dominance of ‘capitalist realism’. It finds signs of significant change relative to previous governments, particularly in the explicit articulation of values. At the same time, significant moments of ambivalence remain, especially on the question of how the new Government’s social and environmental objectives might be achieved.     

多维框架下的中国不平等测度及分解

新时期中国不平等问题表现出新的特征,传统的单一维度不平等已经无法反映现今不平等问题的多维性特点。本文将量化不平等的视角从一维拓展到多维,基于单维不平等合成多维不平等等三种方法测度了收入、教育、医疗多维不平等程度,同时还完成了对多维不平等指数的分解。结果表明,中国社会整体的多维不平等程度逐步加深,收入不平等依旧是贡献程度最大的单维不平等。本文得到的一个重要政策建议是认识和解决不平等问题必须注重单一维度和多维相结合;收入差距缩小并不代表多维不平等的同步改善,政府应该通过政策手段来进一步发挥在民生领域,特别是教育、医疗领域的调控作用。     

From Global Cities to the Lands’ End: The Relocation of Corporate Headquarters and the New Company Towns of Rural America

Since the 1970s, a number of major corporations have located their corporate headquarters in rural and non-metropolitan areas. I interrogate this phenomenon, based on a case study of Lands’ End, a global apparel firm in Wisconsin. Much research has exposed how firms insulate themselves from claims made by workers and communities through organizational and spatial distance (i.e. global sourcing, casualization of employment structures). Corporate headquarters relocation presents a paradox, bringing key decision-makers in the global economy into new, face-to-face relationships with workers and communities. Negotiated against a radical transformation of local class structure, I argue that new forms of social regulation are emerging—in particular, a hybrid version of the Fordist-era company towns.

中国城镇家庭户收入和财产不平等:1995～2002

利用中国家庭户收入调查收集的1995年和2002年城镇家庭户样本数据,以家庭户作为分析单位,对中国城镇收入和财产不平等进行了考察。数据分析结果表明:中国城镇家庭户收入的大多数不平等测量指标在1995～2002年7年间都存在一个显著的大幅度上升,但家庭户财产不平等在此期间呈现出略有下降的趋势;基于人口分组的分解反映出,区域、户主受教育程度和户主中共党员身份对总的家庭收入和财产不平等具有更大的贡献;总体上,对于1995～2002年的中国城镇而言,分类机制在左右家庭户资源不平等变动中扮演着更为重要的角色。     

Is happiness inequality immune to income inequality? New evidence through instrument-effect-corrected standard deviations

Previous research has found that a nation’s income inequality does not affect its happiness inequality. This article questions the appropriateness of the standard deviation as measure of happiness inequality used in these studies. Our main criticism concerns structural dependency, i.e. the technical dependency of the standard deviation on a nation’s mean happiness which is induced by measuring happiness with limited rating scales. To overcome this drawback, two new measures are proposed which adjust for the effects of limited instruments. Applying these new measures to the most recent World Values Survey data demonstrates that some countries change their ranking in the league table of happiness inequality considerably. Moreover, income inequality does affect corrected happiness inequality, a finding which has significant public policy implications.     

收入增长、分配公平与贫困减少

 利用CHNS调查数据,分两个阶段：1990-1999、1999-2005,依据收入分布函数定量讨论了收入增长、分配公平与贫困减少三者之间的关系。均值回归与O-B分解结果显示：收入决定机制是影响人均收入增长的主导因素,然而需要关注在1999-2005年间教育的系数效应为负。分位数回归与M-M分解显示：两个阶段,收入决定机制是导致居民收入分布向右偏移的主要原因;第一阶段的居民收入差距扩大主要源于劳动力特征的变化,第二阶段的居民收入差距扩大难以解释。Shapley分解结果显示：收入增长能显著减少贫困,而收入差距扩大会累及减贫效果;在两个不同阶段,贫困减少的增长效应贡献始终最大,而分配效应与贫困线变动效应贡献顺序发生了交替变化。     

对外贸易与国内收入差距：基于全球125个国家的实证分析

 本文利用全球125个国家的统计数据,分所有国家、发达国家、发展中国家、亚洲发展中国家四个层面,实证分析了进出口贸易对世界各国以及不同类型国家国内收入差距的影响程度、作用以及在影响收入差距所有因素中的地位。研究结果表明：（1）对于所有国家来说,进口和出口对国家内部的收入差距影响系数较小且不显著,金融发展程度因素和高等教育因素是影响国家内部收入差距的重要因素。（2）对于发达国家来说,进口和出口因素是影响国家内部收入差距的主要因素,进口因素和出口因素的影响系数比较大且都比较显著,进口增加有利于扩大收入差距,出口增加有利于缩小收入差距。经济自由度也是影响发达国家国内收入差距的主要因素。（3）对于所有发展中国家来说,进口和出口因素对国家内部收入差距的影响系数较小且都不显著,只有外商直接投资因素和基础教育因素具有显著性。（4）对于亚洲发展中国家来说,进出口贸易因素是影响亚洲发展中国家国内收入差距的重要因素,进口有利于缩小收入差距,出口扩大了收入差距,与所有发展中国家的考察结果相比,进出口贸易对亚洲发展中国家国内收入差距的影响程度更大,且更加显著。