Submitted on: 30 September 2014.
Revised on: 14 January 2015.
Accepted on: 02 March 2015.
___________________ECONOMETRICA---WILEY
http://reply.papertrans.cn/1/80/7903/7903-32.png
http://reply.papertrans.cn/1/80/7903/7903-33.png
Submitted on: 28 July 2016.
Revised on: 16 November 2016.
Accepted on: 10 December 2016.
___________________ECONOMETRICA---WILEY
http://reply.papertrans.cn/1/80/7903/7903-35.png
http://reply.papertrans.cn/1/80/7903/7903-36.png