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Monte Carlo Comparison of Panel Data Cointegration Tests and Their Economic Application

Thesis Info

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Author

Hussan, Mehmood

Program

PhD

Institute

International Islamic University

City

Islamabad

Province

Islamabad.

Country

Pakistan

Thesis Completing Year

2019

Thesis Completion Status

Completed

Subject

Econometrics

Language

English

Link

http://prr.hec.gov.pk/jspui/bitstream/123456789/12583/1/Mehmood%20hussan%20Econometrics%202019%20iiui%20prr.pdf

Added

2021-02-17 19:49:13

Modified

2024-03-24 20:25:49

ARI ID

1676724875069

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Mainly, the current study demonstrate the comparison of panel cointegration tests. This study comprised of comparative assessments of 24 tests and their comparison using stringency criterion. Among the compared tests, 21 tests are based on the null hypothesis of no cointegration, while 3 tests are based on the null hypothesis of cointegration. As far as novelty of the study is concerned, none of the existing studies have used this stringency criterion for the power comparison of panel cointegration tests. within the framework of null of no cointegration, this study evaluates the performance of 21 tests included; Residual based tests (parametric/nonparametric), Maximum Likelihood based tests, Fisher type tests, Average Weighted Symmetric test and Error Correction Based tests. The current study also extended toward comparison of power 3 panel cointegration tests having null hypothesis of cointegration. This study also evaluates the empirical size of the under consideration panel cointegration tests using asymptotic critical values and found that most of the tests are oversized. Therefore, size of all these tests have been controlled by using simulated critical values. The results of current study depicts that two residual based tests (PdP_V, PdPrho) and average weighted symmetric based test (PAWS) performed in paramount way throughout all time and cross sectional dimensions. current study also reveals that maximum likelihood based test LR and second generation test W_Gt perform worst in the current scenario. The LM_OLS test having null hypothesis of cointegration performed better than LM_DOLS and LM_FMOLS. Three better performing tests have reasonably high bootstrap powers based on Fisher hypothesis.
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غزل

 

چھایا ہوا فضاؤں میں اس درجہ ڈر ہے آج
عریاں ہیں،بے لباس ہیں سوچوں کے زاویے
اک آسرے کے واسطے دو شانے چاہئیں
سورج کو کھینچ کھانچ کے ظلمت سے لائی ہے
دل نے سرابِ آرزو کاٹا ہے اس طرح
ہر قیس پیشہ، محملِ شہرت میں کھو گیا
اب کون کشتِ شعرکو خونِ جگر پلائے

 

کابوس کی گرفت میں ہر دیدہ ور ہے آج
نظّارگی سے آنکھ چراتی نظر ہے آج
دستار ، بے نیازِ سرِ معتبر  ہے آج
اک سورما کے روپ میں اُٹھی سحر ہے آج
صحرا  بقیدِحیطۂ دیوار و در  ہے آج
کب غیر نفع بخش یہ داغِ جگر ہے آج
آسانیوں کی قید میں دستِ ہنر ہے آج

حسین بن منصور حلاج اور ان کی صوفیانہ تعلیمات کا علمی وتحقیقی جائزہ

A Sufi poet, teacher and philosopher, Hallaj was executed on the orders of an Abbasside caliph for uttering these words, taken to mean Hallaj as claiming himself to be God. After more than a decade of imprisonment, Hallaj was eventually executed publically in Baghdad in the year 922. He is seen by many as a revolutionary writer and teacher of his time, when practices of mysticism were not meant to be shared publically. Yet he remains a controversial figure, revered by Rumi, hated by many, he was labeled an intoxicated Sufi and is still read today. After his arrest in Sūs and a lengthy period of confinement (c. 911–922) in Baghdad, al-Ḥallāj was eventually crucified and brutally tortured to death. A large crowd witnessed his execution. He is remembered to have endured gruesome torture calmly and courageously and to have uttered words of forgiveness for his accusers. In a sense, the Islāmic community (ummah) had put itself on trial, for al-Ḥallāj left behind revered writings and supporters who courageously affirmed his teachings and his experience. In subsequent Islāmic history, therefore, the life and thought of al-Ḥallāj has been a subject seldom ignored. Here we get a realistic overview about him and his teachings.

Genetic and Epigenetic Analysis of Rb Pathway Genes in Head & Neck Cancer Patients

RB1, CCND1 and CDK4 are major cell cycle check point players related to head and neck cancer (HNC). Polymorphisms in these genes have frequently been reported in literature and are known to follow diverse patterns in relation to different populations. The current study was designed to screen these genes in head and neck cancer patients and control samples at DNA, RNA and protein level. Blood and tissue samples of pathologically confirmed head and neck cases were collected from different hospitals. Polymerase chain reaction (PCR) and single-strand confirmation polymorphism (SSCP) were used for germline screening, followed by sequence analysis. In second step Real time-PCR was performed to study expression of these genes at mRNA level. Immunohistochemistry was performed to evaluate the protein expression of these molecules in cancer tissues as well as controls. Epigenetic analysis was performed using methylation specific PCR. In the last part of the study, in vitro studies were carried out to characterize cancer cells with selected RB1 mutations and their response to drug resistance (doxorubicin). In first part of this study, PCR-SSCP and DNA sequencing were used to analyze the coding regions of RB1, CCND1 and CDK4 in 730 individuals (380 head and neck patients and 350 controls). Sequence analysis of coding regions of RB1 gene results in 18 mutations (one silent, 10 missense, 3 frame shift, 2 nonsense mutations and 2 splice site substitutions). Among these mutations, one silent synonymous mutation was observed in exon 12 (g70282A>G), 5 missense mutations observed in exon 14 (g76474C>T, g76475G>C, g76476A>G, g76467G>C g76468T>C and 2 missesnse mutations in exon 16 (g77041A>T, g77043A>G). One frameshift mutations in exon 12, was a result of deletion of five nucleotide GATGA (g70285_70289delGATGA). 2 frameshift mutations were found in exon 21, one novel frameshift mutation was due to the insertion of nucleotide G (g160601_160602insG) while the other was due to insertion of nucleotide A [(g160623_160624insA) (CI952130)]. In exon 14 and exon 24, 2 nonsense mutations Lys462stop (novel) and Ser834stop (CM952105) were also observed, respectively. Germline analysis of CCND1 coding revealed total 4 mutations, one missense, one frameshift, one silent and one in 3''UTR. One novel missense (g3578C>A) and one novel xframeshift mutation (g3383delA) was observed in exon 3. One silent variation as substitution of G>A (G870A [rs9344]) was observed in exon 4. In addition C>A transition (rs7177) was observed in untranslated region (3''UTR) of CCND1. CDK4 germline mutation analysis showed 2 missense mutations (g5051G>C and g5095G>C) in exon 2 and 2 missense mutations in exon 5 (g5906C>A and g5907C>G). One novel frameshift mutation as a result of three nucleotide deletion (g7321_23delTGA) was observed in exon 7. Additionally 2 novel frameshift mutations as a result of insertion of nucleotide G (g7121_7122insG) and deletion of nucleotide G (g7143delG) were also observed in 3''UTR. mRNA expression of Rb pathway genes (RB1, CCND1 and CDK4) was studied in 72 head and neck tumors samples and adjacent un-involved tissues (control), using real-time PCR. A statistically significant (p<0.001) down-regulation of RB1 was observed in tumor samples compared to control samples. CCND1 (p<0.004) and CDK4 (p<0.02) showed over expression in tumor samples versus control samples. Immunohistochemical analysis of RB1, CCND1 and CDK4 suggested 67% tumors exhibited down-regulated expression of RB1, 62% of tumors showed up-regulated CCND1 expression and 54% of tumors showed up-regulated expression of CDK4. Epigenetic analysis was performed to check methylation status of RB1 promoter region, through methylation specific PCR (MSP). Methylation analysis of RB1 promoter region after sequence analysis revealed that 3% of CpG island was methylated in patients as compared to controls (un-involved tissues). In vitro characterization of selected RB1 mutations was carried out using cancer cell lines, revealed that RB1 mutations in important functional domains result in abnormally reduced protein stability causing defects in RB1 functioning which may play a role in tumor proliferation. Results indicate that loss of RB1 function makes the condition selectively advantageous in tumor aggression which highlights the importance of RB1 in tumor protection. Results from this study also suggest that cells expressing mutant RB1Arg455Ser-V5 and RB1Ile835Asn-V5 may get a survival advantage against doxorubicin induced cytotoxicity, which may enhance drug resistance.