The problem of near-multicollinearity revisited: erratic vs systematic volatility

By Aris Spanos, Anya McGuirk. 2002

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Cooperative membership and farmers’ choice of marketing channels – Evidence from apple farmers in Shaanxi and Shandong Provinces, China (2018, background): “Both values are lower than the often chosen critical value of 10 (Spanos and McGuirk, 2002), indicating that multicollinearity is not a major problem.”
Variance Inflation Factor and Condition Number in multiple linear regression (2018, background): “Spanos and McGuirk [19] distinguished between high correlation among regressors which, under certain conditions, gives rise to systematic volatility , and a numerical issue (the regressor data matrix X t X is ill-conditioned), which gives rise to erratic volatility .”
The corrected VIF (CVIF) (2011, methodology): “In this paper, due to the cautions already pointed by O’Brien [13] about the rules of thumb for VIFs, and based on Hamilton [5] and Spanos and McGuirk (SM) [14] results, we propose a new measure, the corrected VIF (CVIF), that departures from the traditional VIF statistic, to analyze the impact of n”
Revisiting the omitted variables argument: Substantive vs. statistical adequacy (2006, background): “This, in turn, imposes a substantive perspective on the statistical analysis which often leads to confusions; see Spanos and McGuirk (2002).”