© Cbn Journal Of Applied Statistics . 2011. Vol. 2 No. 1
Publisher: Central Bank of Nigeria
Best Linear Unbiased Estimate Using Buys-Ballot Procedure When Trend-Cycle Component is Linear
Iheanyi S. Iwueze, Eleazar C. Nwogu, Jude C. Ajaraogu
KEYWORDS: Best linear unbiased Estimator, Buys-Ballot derived variables, stationarity, minimum variance, Moving Average Process of order one.
ABSTRACT:
The Best linear unbiased estimate (BLUE) of Buys-Ballot estimates when trend-cycle component is linear are discussed in this paper. The estimates are those proposed by Iwueze and Nwogu (2004). Discussed are the Chain Based Estimation (CBE) method and the Fixed Based Estimation (FBE) method. The variates for the CBE method were found to have constant mean and variance but are correlated with only one significant autocorrelation coefficient at lag one. The variates for the FBE method were found to have constant mean, non-constant variance but with constant autocorrelation coefficient at all lags. Because the CBE variates exhibit stationarity, Best Linear unbiased estimators of the slope and intercept were derived. Numerical examples were used to illustrate the methods.
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Subject
Economics
Discipline
Social and Behavioral Sciences
Publisher
Central Bank of Nigeria
Publication Year
2011
Place Of Publication
Nigeria
Contributors
Iheanyi S. Iwueze
Eleazar C. Nwogu
Jude C. Ajaraogu
Eleazar C. Nwogu
Jude C. Ajaraogu