Recent research in econometrics and statistics has focused on many problems that are of common interest to both disciplines. One that is especially noteworthy is functional central limit theory and its manifold applications in statistical theory, time series and microeconometrics. This project will foster the growing interaction between professional statisticians and econometricians in this general field. Building on current areas of strength at Yale University, five members of the Economics and Statistics Departments will develop a series of intensive workshops on functional limit theory and its applications: statistical analyses of trending time series, cointegrated systems, long-run equilibria and transient dynamics, semiparametrics, empirical processes for dependent variables and possibly estimation via simulation methods, and structural change/change point problems. The workshops will bring together small groups of researchers, both well-established and new contributors, to review current progress and explore future directions. The workshops will be supplemented by visits from leading overseas researchers, who will give lecture series at the cutting edge of their specialties on subject matter that is closely related to the workshop themes.
