Testing of Heteroscedastic Economic Model using Kernel Bootstrap Estimators: A Panel Data Perspective from Pakistan

Abstract

This study focuses on testing of the heteroscedastic panel economic model through kernel bootstrap estimators developed by (Saeed and Aslam, 2016) for improved inferences. The heteroscedasticity consistent covariance matrix estimators have also been used for inference of the panel model. For the present article, the data from Pakistan Stock Exchange include micro and macroeconomic variables related to the stock prices of sugar and allied mills from 2010 to 2014.