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Bureaucratic performance and budgetary reward: A test of the hypotheses with an alternative specification

✍ Scribed by Thomas S. McCaleb


Publisher
Springer US
Year
1977
Tongue
English
Weight
167 KB
Volume
31
Category
Article
ISSN
0048-5829

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## Abstract This paper illustrates the pitfalls of the conventional heteroskedasticity and autocorrelation robust (HAR) Wald test and the advantages of new HAR tests developed by Kiefer and Vogelsang in 2005 and by Phillips, Sun and Jin in 2003 and 2006. The illustrations use the 1993 Fama–French t