TSM 4.49 (04/2017)

* Apple Mac and Linux installations under Wine implemented.

* Bootstrap tests of I(1).

* New Fourier wild bootstrap algorithm.

* Enhanced Calculator, with new functions and integral evaluation.

TSM 4.48 (02/2016)

* Import model outputs in matrix calculator.

* Warp speed bootstrap outputs exportable.

* This version is free to individual users!

TSM 4.47 (09/2015)

* All settings and data continuously saved and restored. See

TSM Blog (23/9/15) for details.

* Extended tabulation for KPSS statistic p-values.

* Option to save results window between sessions

* Text search options in results window and data spreadsheet.

* Extended instrument selection option for IV/GMM.

* New spreadsheet editing options: insert/delete rows, and

create panel data guide columns.

* New installation options for font and icon sizes.

TSM 4.46 (07/2015)

* Autoregression option for dynamic models of discrete data.

* Zero-inflated option for ordered Probit and Poisson models.

* Kernel smoothing and Box-Cox options for data transformation.

* Documentation additions and revisions.

* GUI modifications for Windows 10.

TSM 4.45 (02/2015)

* A matrix calculator, for manual calculation of functions of sample

moment matrices (or any manually entered matrices).

* Big icons – installation option.

TSM 4.44 (10/2014)

* A calculator and function plotting utility.

* “Tanaka filter” for construction of fractional integration tests.

TSM 4.43 (07/2014)

* New stochastic simulation feature allows shocks to be constructed

by a formula with standard normal and uniform drawings.

* New functions available for calling from an Ox program.

* Sort model list by name and modification date.

TSM 4.42 (02/2014)

* Spreadsheet editing feature, allows editing of raw data files

containing guide columns with dates, date labels, indicators or

panel data information and hidden from the user in normal operations.

* Change to the EGARCH specification, subtraction of absolute shock

mean according to the likelihood model (optionally reversible, see

Options / General / Special Settings).

TSM 4.41 (01/2014)

* Stable (infinite variance) shocks can now be generated for use in

Monte Carlo experiments.

* The sieve-AR bootstrap technique for dependent data can now be

combined with any bootstrap variant.

* New bootstrap option "m/T", to set the bootstrap sample size (m) as

a fraction of the data sample (T).

* 2-sided option for p-value EDFs in Monte Carlo experiments.

TSM 4.40 (11/2013)

* 64-bit compilation released, to run with the 64-bit version of

Ox 7.

TSM 4.39 (09/2013)

* Runs under Ox Version 7.

* “Warp speed Monte Carlo” option for experiments on bootstrap

estimation.

* Any data transformation can be performed "on the fly" when

estimating a model. One-to-one invertible transformations allow

forecasts and fitted values to be reported for the data in original

form.

* Nielsen-Jensen (2013) FFT algorithm for fractional differencing

implemented.

TSM 4.38 (04/2013)

* New forecasting code produces analytic forecasts for a wider class

of models.

* Forecast error variance decompositions for dynamic multi-equation

models.

* Graphics titles can be either removed or changed by the user.

TSM 4.37 (03/2013)

* EMF graphics format implemented.

* Changes to the forecasting options, the model description format

and regime switching options.

TSM 4.36 (08/2012)

* Andrews (1993) structural change test.

* Consistent specification tests.

* V/S test of short memory.

* Interface improvements including sorted model lists and Quick Model

Save option.

* Principal components and cubic spline data transformation options.

TSM 4.35 (02/2012)

* State space modelling (requires installation of SsfPack 2.2).

* Series plotting with confidence bands.

* Improved design of Options / Graphics with Line Styles dialog.

TSM 4.34 (10/2011)

* Cusum of squares test.

* Stationary bootstrap option, static bootstrap option.

* Interface improvements: Values dialogs, list selection,

data formula dialog, multiple dataset handling, resizable data

spreadsheet.

TSM 4.33 (04/2011)

* Read/write support for Excel 2007/2010 “.xlsx” data files with Ox

6.20.

TSM 4.32 (07/2010)

* Programmable graphics functions.

* New data-plotting feature allows correlogram, spectrum and QQ plots

of two or more variables to appear in one graph.

* Selectable graphics text size, selectable font for exported

graphics.

* 'Logarithmic model' option without prior transformations

* Assignable toolbar buttons increased from two to six.

* Enhanced data entry and editing options, with pasting from the

clipboard.

TSM 4.31 (12/2009)

* Engle-Rothenberg-Stock tests of I(1).

* Robinson-Lobato test of I(0)

* Partial autocorrelations can be listed and plotted.

* Improved interface, model feature activation

TSM 4.30 (07/2009)

* Function optimization using analytic derivatives, implemented for

most models and estimators.

* Support for parallel computing using Condor HTC on a network.

* Improved forecast fan charts.

* Improved dialog design for Tests and Diagnostics.

* Ordered probit and logit modelling.

TSM 4.29 (01/2009)

* Supports file loading by “drag-and-drop”.

* Quick links from the Model menu to load and save

functions for stored models.

* Irregular panels supported.

* White heteroscedasticity test.

TSM 4.28 (12/2008)

* Work with multiple data sets in memory.

* Monte Carlo parallel processing option.

* Filter missing observations in sample selection.

TSM 4.27 (10/2008)

* New GUI interface using Java 'Swing', with user-selectable

'look and feel'.

* Data viewing and editing in a spreadsheet-format window.

TSM 4.26 (04/2008)

* Panel data estimation for fixed effects models (OLS, SUR, IV, 3SLS)

and single-equation random effects (GLS and ML).

* Improved graphing of confidence bands for forecasts and recursive

estimation.

* Bierens' conditional moment test of functional form.

* New coded model option for simulations: nonlinear shocks.

* Data bootstrap, and sample selection by indicators.

* Hodrick-Prescott filter.

* Bivariate density plots.

TSM 4.25 (01/2008)

* Bootstrap test of I(0).

* 'RGB' scatter plots, with observation dates colour-coded.

* Improved Monte Carlo output format and EDF handling.

NOTE: further revision of EDF file format!

* New data editing/transformation options.

* Improved sample selection options.

* Consolidates a large number of small modifications and fixes

TSM 4.24 (06/2007)

* Improved facilities for running and sharing Ox code. Code files now

bundled with exported settings, and viewable from the Help menu.

* EDF files for tabulations of different sample sized can now be

merged. p-values are generated by interpolating the tabulations

according to actual sample size.

NOTE: EDF file and Ox function formats are changed in 4.24!

Files created with and for previous versions of TSM must be modified.

* External batch processing option for estimation and Monte Carlo

runs - allows multi-tasking and avoids tying up the GUI for long jobs.

* Improved plotting controls: legends and boxes.

TSM 4.23 (05/2007)

* Plug-in bandwidth selection and prewhitening for HAC

covariance estimation.

* New graphics options, including forecast fan charts, selectable

line widths, and 8 selectable line style options for series

plotting.

TSM 4.22 (04/2007)

* Kiefer-Vogelsang-Bunzel (KVB) inference with inconsistent

covariance matrix estimation.

TSM 4.21 (01/2007)

* Nonlinear moving average (SPS) model feature, providing

close approximations to STOPBREAK and STIMA models.

* Recursive coded equations can include the lagged value as

an argument.

* Extended options for coding nonlinear models, including

nonlinear ECMs, and nonlinear MAs using the recursion

feature.

* Panel to create/edit/view a model description. Text is saved

with the model.

* Forecast confidence bands now plotted in system forecasts.

System impulse response plot option.

TSM 4.20 (09/2006)

* Automatic regressor selection by optimizing info. criterion.

* Local Whittle ML long memory estimation.

* Nyblom-Hansen model specification tests.

* Coded (nonlinear) equilibrium relations.

* Supplied EDF option for critical values extended to Ox-coded

test statistics.

* Text files can be loaded into the results window for editing.

* "Restart" option, for one-click incorporation of changes to user's

Ox code.

* Randomized coded simulation models.

TSM 4.19 (06/2006)

* A formula parser enables three new features:

o Algebraic data transformations.

o Nonlinear parameter restrictions (replaces existing

procedure).

o Nonlinear equation estimation - complements the existing

ability to compile Ox functions into the program. More

limited in scope, but much simpler to implement.

* Save and use tabulations of test EDFs. This feature implements size

correction and estimation of true test powers in simulation

experiments. Can also be used to make bespoke tabulations of

non-standard tests.

* "Save Selected" command - write selected variables from data set to

new file.

* Harris-McCabe-Leybourne (HML) test for long memory of

data/residuals.

* Two assignable toolbar buttons.

* Improved implementation for supplied Ox-coded statistics.

TSM 4.18 (05/2006)

* Code recompiled under Ox 4.02.

* "Stop" button on toolbar to pause calculations.

* Data plots can be displayed directly, by clicking the variable list

in any dialog, and then the "Chart" button.

* Excel dates for weekly and daily data are read with the data, and

used in the output and plots.

TSM 4.17 (03/2006)

* User can interrupt program operations at any point - click the

"Running Man" button during execution to bring up a choice box with "Abort"

and "Continue" options. Progress indicator for numerical optimizations shows

the number of iterations and current criterion value.

* Improved code for setting model specifications. Parameter values

and settings are now preserved under deletion/restoration of regressors.

In systems, equations can be deleted/restored without losing values and

settings.

* Enhanced Monte Carlo module allows multiple experiments in a single

run. Experiments can also be extended with additional replications.

* 'User-supplied statistic' option allows the Monte Carlo module to

have a fully general application. The distribution of any function of

the data set, coded by the user in Ox, can be studied by simulation, after

using TSM's modelling facilities (or user-supplied code) to generate the

data.

TSM 4.16 (01/2006)

* In the Windows installation, the program can now be started by simply

clicking on a ".tsm" (settings) file in Windows Explorer. These files

are identified by the TSM icon, as for the Start Menu shortcuts.

* A new File / Import Models... function allows model specifications

to be copied from one settings file to another.

* The File / Export... command is enhanced to save the data and

listings files as part of the ".tsm" file. A single settings file can

now record a complete working environment, including data, models,

graphs and parameter values, and be opened by a single keystroke on a

different installation. When an exported file is opened, the data and

listing files are recreated automatically in the Start-in directory.

* Additional resampling options - sieve-AR bootstrap.

* Scatter plots now show regression lines superimposed.

TSM 4.15 (12/2005))

has a redesigned interface. Here are the main changes from Versions 4.14 and earlier.

* The Estimation and Sample dialog has been replaced with a

simplified Set Sample dialog. This no longer has a toolbar button,

but is accessible as a floating window in all the model specification

dialogs.

* Estimator selection buttons and 'System of Equations' checkboxes

are now located as appropriate in the redesigned Linear Regression

and Dynamic Equation dialogs.

* A Parameter Bounds / Grid-Plotting checkbox is located in each

Values dialog. The Minimand option is selectable in Options /

Optimization and Run.

* Kernel selection for HAC estimators has been moved from Options /

General to a redesigned Options / Tests and Diagnostics dialog.

* The Options / Bootstrap and Simulation dialog is now renamed as

Simulation and Resampling, and controls both bootstrap and the

new subsampling options.

* The new "Dialog" toolbar button can be used in two ways. By default

it re-opens the last dialog closed, excepting dialogs with their

own buttons. Hover the mouse over it to see its current assignment.

Alternatively, it can be permanently assigned to one of a range of

dialogs normally accessible from the menus. Set your choice in

Options / General.

TSM 4.13 (09/2005))

* Bootstrap options, including block bootstrap and wild bootstrap.

TSM 4.12 (08/2005))

* DCC multivariate GARCH.

* Wald test for joint significance of regressors.

TSM 4.11 (04/2005))

* BEKK GARCH.

TSM 4.10 (03/2005))

·* Monte Carlo experiment option. Any model supported by the program

(including user-supplied code) can be simulated, and the same, or a

different, model fitted to the artificial data. Results reported

include estimator moments, bias/RMSE, quantiles and p-value EDFs of

test statistics. Also, kernel density/histogram plots of replications

* Model Manager - stores and retrieves complete model specifications,

including parameter values, forecasts, plots etc. This feature makes

it easy to work on two or more projects in the same session, to save

and recall a complete record of estimations, and also facilitates

Monte Carlo experiments

* Probit and logit models for binary data.

* Poisson and negative binomial models for count data.

* General error distribution (GED) maximum likelihood.

* Nonlinear error correction mechanisms, incorporating ESTAR and

asymmetric AR models

* Extended explained regime-switching option.

* User-supplied likelihood functions.

TSM 4.06 (01/2005)

* Log-periodogram regression option with Geweke-Porter-Hudak and

Moulines-Soulier methods.

* File menu options for saving individual listings and graphics to

disk.

* New format for estimation results, now including parameter t

ratios.