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This paper aims to improve the performance of estimation and compensation for both the transmitter and receiver radio impairments in the MIMO-OFDM (multiple-input, multiple-output orthogonal frequency-division multiplexing) systems. First, a joint least-squares estimation of channel and radio impairments is developed with a complete set of radio impairments being taken into consideration, including frequency-dependent and independent I-Q imbalances, dc-offsets and frequency-offset. Previously, only parts of the radio impairments were included and/or treated separately from the radio channel. Secood, a novel two-stage compensation scheme is proposed which is applicable to a general form of MIMO operations with any number of transmit and receive antennas. Numerical results show that the new design significantly outperforms the existing ones in error-rate performance and/or the number of training symbols required.