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a b s t r a c tIn this paper, we consider a semiparametric single-index panel data model with cross-sectional dependence and stationarity. Meanwhile, we allow fixed effects to be correlated with the regressors to capture unobservable heterogeneity. Under a general spatial error dependence structure, we then establish some consistent closed-form estimates for both the unknown parameters and the link function for the case where both cross-sectional dimension (N) and temporal dimension (T ) go to infinity. Rates of convergence and asymptotic normality are established for the proposed estimates. Our experience suggests that the proposed estimation method is simple and thus attractive for finite-sample studies and empirical implementations. Moreover, both the finite-sample performance and the empirical applications show that the proposed estimation method works well when the cross-sectional dependence exists in the data set.

In this paper, we propose a panel data semiparametric varying-coefficient model in which covariates (variables affecting the coefficients) are purely categorical. This model has two features: first, fixed effects are included to allow for correlation between individual unobserved heterogeneity and the regressors; second, it allows for cross-sectional dependence through a general spatial error dependence structure. We derive a semiparametric estimator for our model by using a modified within transformation, and then show the asymptotic and finite properties for this estimator under large N and T . Our Monte Carlo study suggests that our methodology works well for both large N and T , and large N and small T cases. Finally, we illustrate our model by analyzing the effects of state-level banking regulations on the returns to scale of commercial banks in the U.S.. Our empirical results suggest that returns to scale is higher in more regulated states than in less regulated states.

Harvest maturity is closely related to peach fruit quality and has a very important effect on the fresh fruit market. Unfortunately, at present, it is difficult to determine the maturity level of peach fruits by artificial methods. The objectives of this study were to develop quadratic polynomial regression models using near-infrared spectroscopy that could determine the peel color difference, fruit firmness, soluble solids content (SSC), soluble sugar, organic acid components, and their relationships with the absorbance of chlorophyll (index of absorbance difference, IAD) in late maturing ‘Xiahui 8’ peach and ‘Xiaguang’ nectarine fruits. The analysis was based on data for fruits at veraison, fruits at harvesting maturity, and all fruits. The results showed that firmness has the highest correlation coefficient with IAD. Prediction models for fruit maturity were established between firmness and the IAD of the two cultivars using the quadratic polynomial regression method. Further variance analysis on the one degree term and quadratic term of each equation showed that every partial regression coefficient reached a significant or extremely significant level. No significant difference was observed between estimated and observed values after regression prediction. The regression equations seem to fit well. Other peach and nectarine varieties were used to test the feasibility of maturity prediction by this method, and it was found that maturity was successfully predicted in all the samples. The result indicated that the IAD can be used as an index to predict peach fruit maturity.

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Income elasticity dynamics of health expenditure is considered for the OECD and Eurozone over the period 1995-2014. Motivated by some modelling challenges, this paper studies a class of non-linear cointegration panel data models, controlling for cross-section dependence and certain endogeneity. Using the corresponding methods, our empirical analyses show a slight increase in the income elasticity of the healthcare expenditure over the years, but still with values under 1, meaning that healthcare is not a luxury good in the OECD and Eurozone.

Peach (Prunus persica) fruit emit more than 100 volatile organic compounds. Among these volatiles, γ-decalactone is the key compound that contributes to peach aroma. The final step in lactones biosynthesis is catalyzed by alcohol acyltransferases (AATs). In this study, five AAT genes were isolated in the peach genome, and the ways that these genes contribute toward the peach aroma were studied. The sequence analysis of the five AATs showed PpAAT4 and PpAAT5 are truncated genes, missing important residues such as HXXXD. The expressions of PpAATs were investigated to identify the roles in creating the peach aroma. The results indicated that only PpAAT1 is highly expressed during γ-decalactone formation. A functional survey of the five PpAATs, using the oleaginous yeast expression system, suggested that only PpAAT1 significantly increased the γ-decalactone content, whereas the other four PpAATs did not significantly alter the γ-decalactone content. Enzyme assays on PpAATs heterologously expressed and purified from Escherichia coli indicated that only PpAAT1 could catalyze the formation of γ-decalactone. All results indicated that PpAAT1 is a more efficient enzyme than the other four PpAATs during the γ-decalactone biosynthesis process in peach fruit. The results from this study should help improve peach fruit aroma.

The aroma of peach fruit is predominantly determined by the accumulation of γ-decalactone and ester compounds. A previous study showed that the biosynthesis of these aroma compounds in peach fruit is catalyzed by PpAAT1, an alcohol acyltransferase. In this work, we investigated the key active site residues responsible for γ-decalactone and ester biosynthesis. A total of 14 candidate amino acid residues possibly involved in internal esterification and 9 candidate amino acid residues possibly involved in esterification of PpAAT1 were assessed via site-directed mutagenesis. Analyses of the in vitro enzyme activities of PpAAT1 and its site-directed mutant proteins (PpAAT1-SMs) with different amino acid residue mutations as well as the contents of γ-decalactone in transgenic tobacco leaves and peach fruits transiently expressing PpAAT1 and PpAAT1-SMs revealed that site-directed mutation of H165 in the conserved HxxxD motif led to lost enzymatic activity of PpAAT1 in both internal esterification and its reactions, whereas mutation of the key amino acid residue D376 led to the total loss of γ-decalactone biosynthesis activity of PpAAT1. Mutations of 9 and 7 other amino acid residues also dramatically affected the enzymatic activity of PpAAT1 in the internal esterification and esterification reactions, respectively. Our findings provide a biochemical foundation for the mechanical biosynthesis of γ-decalactone and ester compounds catalyzed by PpAAT1 in peach fruits, which could be used to guide the molecular breeding of new peach species with more favorable aromas for consumers.