Moments of the function of non-normal random vector with applications to econometric estimators and test statistics 1

In this paper we have provided a general result on the moments of a function of nonnormal random vector. The results for the normal case follow as a special case of this result. It is also indicated that the moments of a large class of econometric estimators and test statistics can be obtained by using our general result. This includes least squares estimator in the dynamic model, unit root tests, and the two step semiparametric estimators, among others.     

IS ADAPTIVE ESTIMATION USEFUL FOR PANEL MODELS WITH HETEROSKEDASTICITY IN THE INDIVIDUAL SPECIFIC ERROR COMPONENT? SOME MONTE CARLO EVIDENCE

This paper first derives an adaptive estimator when heteroskedasticity is present in the individual specific error in an error component model and then compares the finite sample performance of the proposed estimator with various other estimators. While the Monte Carlo results show that the proposed estimator performs adequately in terms of relative efficiency, its performance on the basis of empirical size is quite similar to the other estimators considered.     

Moments of the function of non-normal random vector with applications to econometric estimators and test statistics

In this paper we have provided a general result on the moments of a function of nonnormal random vector. The results for the normal case follow as a special case of this result. It is also indicated that the moments of a large class of econometric estimators and test statistics can be obtained by using our general result. This includes least squares estimator in the dynamic model, unit root tests, and the two step semiparametric estimators, among others.     

“Healthy” Human Development Indices

In the Human Development Index (HDI), life expectancy is the only indicator used in modeling the dimension ‘a long and healthy life’. Whereas life expectancy is a direct measure of quantity of life, it is only an indirect measure of healthy years lived. In this paper we attempt to remedy this omission by introducing into the HDI the morbidity indicator, “expected lost healthy years” (LHE), used in the World Health Report Though LHE is only weakly correlated with life expectancy and displays considerable variation across countries, the ranking of nations using the adjusted HDI is very similar to that from the HDI. Nevertheless, there are some outlier countries (including large countries like China and the United States) that experience notable changes in rank. Given the considerable variation in the morbidity data across gender, we also adjust the Gender-related Development Index (GDI) in a similar fashion. The ranking using the adjusted GDI is very similar to that from the GDI, but it has a lower rank correlation with the HDI.     

Worlds apart or a part of the world? Public relations issues and challenges in India

This study examines modern public relations in India investigating current issues, trends and leadership in communication management. Using a survey of Indian practitioners, it compares public relations in India with global trends. Findings suggest that practice in India is interdependent and changing dynamically with global influences, though a global–local dialectic is clearly present. Country-level differences are evident with development of human capital seen as the top issue in the region. At the same time, similar to other countries, the industry in India is also dealing with issues of digitization and information flow, struggling with measurement concerns, and trying to stay on top of crisis management preparedness.