Theoretical Elements Regarding the Tests of Significance Based on Instrumental Variables
Journal Title: Revista Romana de Statistica - Year 2015, Vol 63, Issue 9
Abstract
The theoretical aspects of the instrumental variable tests commonly used in linear models represents the object of this article: Sargan’s test of overidentifying restrictions, and Durbin-Hausman-Wu test based on the OLS-IV contrasts. The problems generated by these tests come from the potential rank deficiency of a certain moment matrix. The error potential of these tests was interesting for certain authors.Accordin to theory, the error potential is applicable to certain testing procedures based on liniar instrumental variable estimators. Another potential problem regarding IV missinterpretation error testing is the invalidation of the asymptotic distribution theory by the erroneous character of the matrix of correlation between the regression parameters and instruments. There were used orthogonal groups of matrices and their invariance proprerties. The theory of group invariance simplifies the complicated distributions most of the time.
Authors and Affiliations
Constantin ANGHELACHE, Marius POPOVICI
Considerations on the evolution of the number of pensioners and pensions
This paper describes the evolution of the retired people and pensions in Romania. This segment of the population and their incomes represent a particular situation of the national demo-economic system. The authors develo...
INEGALITATEA VENITURILOR GOSPODĂRIILOR ÎN ROMÂNIA
Articolul prezintă rezultatele măsurării inegalităţii veniturilor gospodăriilor din România în perioada 1995-2008. A fost utilizat un set de indicatori ai inegalităţii, estimaţi pe baza datelor colectate prin Ancheta Int...
THE INTEGRATED SHORT-TERM STATISTICAL SURVEYS: EXPERIENCE OF NBS IN MOLDOVA
The users’ rising need for relevant, reliable, coherent, timely data for the early diagnosis of the economic vulnerability and of the turning points in the business cycles, especially during a financial and economic cris...
Globalization and its Effects on Financial Markets
This paper addresses aspects of globalization, a process which has become a symbol of the present days and an important factor of change for international financial markets. The paper highlights the main economic benefit...
ACCRUAL ACCOUNTING ADOPTION IN THE ROMANIAN PUBLIC SECTOR
In Romania the development of public sector accounting was initiated in 2002, and enlarged for all public sector entities in 2005, but the transition is a static process although there are many issues that should be chan...