EWMDEuropean Women's Management Development International Network (Wiesbaden, Germany)
EWMDEqually-Weighted Minimum Distance
EWMDExplosive Weapon of Mass Destruction
References in periodicals archive ?
Experiments were carried out using both the EWMD and OMD estimators.
Point estimates and confidence intervals for [Theta] were obtained using EWMD and OMD with asymptotic critical values, OMD with bootstrap bias reduction and bootstrap-critical values, and the modified OMD estimator of Section V with bootstrap bias reduction and bootstrap-critical values.
The EWMD and unbootstrapped OMD estimates (Columns 1 and 2) are similar to those of Altonji and Segal (1994, 1996) but not identical because Altonji and Segal used all available lags in estimation.
The OMD parameter estimates with bias reduction are closer to the EWMD estimates than are the OMD estimates without bias reduction.
Moreover, both sets of values are close to the EWMD estimates.
In summary, the estimation results suggest that with the PSID data, there is no great advantage to using OMD instead of EWMD.
With samples of the sizes encountered in applications, it is often badly biased, its RMSE can be much larger than that of the asymptotically inefficient EWMD estimator, and there can be large differences between the true and nominal coverage probabilities of confidence intervals.
Moreover, the RMSE of the OMD estimator after bootstrap bias reduction was below that of the EWMD estimator.