Download or read book Economics in Theory and Practice written by L R Klein and published by . This book was released on 1989-11-30 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economics in Theory and Practice An Eclectic Approach written by L.R. Klein and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lawrence Klein, University of Pennsylvania Jaime Marquez, Federal Reserve BoarrI* All examination of the economics literature over the last twenty years reveals a marked tendency towards polarisation. On the one hand, there has been a propensity to develop theoretical models which have little connection with either empirical verification or problems requiring immediate attention. On the other iland, empirical analyses are generally typified by testing for its own sake, with limited examination of the implications of the results. As a result, the number of papers confronting theory with facts towards the solution of economic problems has been on the decline for years. To fill this growing gap in the literature, we have invited a number of authors to write papers using both theoretical and empirical techniques to address current issues of interest to the profession at large: the US trade deficit and the global implications of policies that attempt to reduce it, the international ramifications of the debt crisis, the international oil market and its implications for the US oil industry, and the development of new econometric techniques. In addressing these issues, each author has approached the subject matter from an eclectic standpoint - that is, avoiding strict adherence to a given doctrine.
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Download or read book Henri Theil s Contributions to Economics and Econometrics written by B. Raj and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: PREFACE TO THE COLLECTION PREAMBLE The editors are pleased to present a selection of Henri Theil's contributions to economics and econometrics in three volumes. In Volume I we have provided an overview of Theil's contributions, a brief biography, an annotated bibliography of his research, and a selection of published and unpublished articles and chapters in books dealing with topics in econometrics. Volume II contains Theil's contributions to demand analysis and information theory. Volume III includes Theil's contributions in economic policy and forecasting, and management science. The selection of articles is intended to provide examples of Theil's many seminal and pathbreaking contributions to economics in such areas as econometrics, statistics, demand analysis, information theory, economic policy analysis, aggregation theory, forecasting, index numbers, management science, sociology, operations research, higher education and much more. The collection is also intended to serve as a tribute to him on the occasion of his 68th birthday: These three volumes also highlight some of Theil's contributions and service to the profession as a leader, advisor, administrator, teacher, and researcher. Theil's contributions, which encompass many disciplines, have been extensively cited both in scientific and professional journals. These citations often place Theil among 10 researchers (ranked according to number of times cited) in the world in various the top disciplines.
Download or read book Henri Theil s Contributions to Economics and Econometrics written by Henri Theil and published by Springer Science & Business Media. This book was released on 1992 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Computational Economics and Econometrics written by H. Amman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of Computational Economics is a fast growing area. Due to the limitations in analytical modeling, more and more researchers apply numerical methods as a means of problem solving. In tum these quantitative results can be used to make qualitative statements. This volume of the Advanced Series in Theoretical and Applied and Econometrics comprises a selected number of papers in the field of computational economics presented at the Annual Meeting of the Society Economic Dynamics and Control held in Minneapolis, June 1990. The volume covers ten papers dealing with computational issues in Econo metrics, Economics and Optimization. The first five papers in these proceedings are dedicated to numerical issues in econometric estimation. The following three papers are concerned with computational issues in model solving and optimization. The last two papers highlight some numerical techniques for solving micro models. We are sure that Computational Economics will become an important new trend in Economics in the coming decade. Hopefully this volume can be one of the first contributions highlighting this new trend. The Editors H.M. Amman et a1. (eds), Computational Economics and Econometrics, vii. © 1992 Kluwer Academic Publishers. PART ONE ECONOMETRICS LIKELIHOOD EVALUATION FOR DYNAMIC LATENT VARIABLES 1 MODELS DAVID F. HENDRY Nuffield College, Oxford, U.K. and JEAN-FRANc;mS RICHARD ISDS, Pittsburgh University, Pittsburgh, PA, U.S.A.
Download or read book Evaluating Policy Regimes written by Ralph Bryant and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 1024 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists have long debated the theoretical merits—for an individual nation and for a multi-nation world economy—of alternative approaches to the conduct of economic policy. Yet theory alone cannot resolve the important issues at stake. Only after the robustness of policy regimes has been carefully examined with empirical evidence will policymakers and economists be able to reach more of a consensus. This pathbreaking volume takes major steps forward in meeting the need for a combination of theoretical and empirical evaluations of alternative policy regimes. Bringing together individuals and groups doing pioneering research on macroeconomic interaction, it explores what approach to monetary policy would lead to superior performance by individual national economies and the world economy as a whole. Many parts of the book use the analytical techniques of stochastic simulation, an evaluation procedure increasingly employed at the frontier of empirical economic analysis. The book provides a summary of the hey issues involved in evaluating policy regimes and clarifies the relationships among those issues. The authors examine the stabilization properties of alternative monetary-policy regimes and analyze how well various regime types perform in the face of unexpected shocks to national economies. Among their conclusions, they find that some simplified regimes for monetary policy are markedly less promising than others for achieving the stabilization objectives commonly sought by policymakers. Evaluating Policy Regimes is another major installment in a continuing world wide research project, sponsored by the Brookings Institution, to improve empirical knowledge about the interdependence of national economies.
Download or read book Monetary Policy written by Y. Barroux and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patrick Artus and Yves Barroux The Applied Econometric Association organised an international conference on "Monetary and Financial Models" in Geneva in January 1987. The purpose of this book is to make available to the public a choice of the papers that were presented at the conference. The selected papers all deal with the setting of monetary targets and the effects of monetary policy on the economy as well as with the analysis of the financial behaviours of economic agents. Other papers presented at the same conference but dealing with the external aspects of monetary policy (exchange rate policy, international coordination of economic policies, international transmission of business cycles, . . . ) are the matter of a distinct publication. The papers put together to make up this book either are theoretical research contributions or consist of applied statistical or econometric work. It seemed to be more logical to start with the more theoretical papers. The topics tackled in the first two parts of the book have in common the fact that they appeared just recently in the field of economic research and deal with the analysis of the behaviour of Central Banks. They analyse this behaviour so as to be able to exhibit its major determinants as well as revealed preferences of Central Banks: this topic comes under the caption "optimal monetary policy and reaction function of the monetary authorities".
Download or read book A System Wide Analysis of International Consumption Patterns written by S. Selvanathan and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The modern system-wide approach to applied demand analysis emphasizes a unity between theory and applications. Its fIrm foundations in economic theory make it one of the most impressive areas of applied econometrics. This book presents a large number of applications of recent innovations in the area. The database used consist of about 18 annual observations for 10 commodities in 18 OECO countries (more than 3,100 data points). Such a large body of data should provide convincing evidence, one way or the other, about the validity of consumption theory. A PREVIEW OF THE BOOK The overall importance of the analysis presented in the book can be seen from the following table which shows the signifIcant contribution of the OECO to the world economy. As can be seen, the 24 member countries account for about 50 percent of world GOP in 1975. In this book we present an extensive analysis of the consumption patterns of the OECO countries.
Download or read book Innovations in Multivariate Statistical Analysis written by Risto D.H. Heijmans and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: The three decades which have followed the publication of Heinz Neudecker's seminal paper `Some Theorems on Matrix Differentiation with Special Reference to Kronecker Products' in the Journal of the American Statistical Association (1969) have witnessed the growing influence of matrix analysis in many scientific disciplines. Amongst these are the disciplines to which Neudecker has contributed directly - namely econometrics, economics, psychometrics and multivariate analysis. This book aims to illustrate how powerful the tools of matrix analysis have become as weapons in the statistician's armoury. The majority of its chapters are concerned primarily with theoretical innovations, but all of them have applications in view, and some of them contain extensive illustrations of the applied techniques. This book will provide research workers and graduate students with a cross-section of innovative work in the fields of matrix methods and multivariate statistical analysis. It should be of interest to students and practitioners in a wide range of subjects which rely upon modern methods of statistical analysis. The contributors to the book are themselves practitioners of a wide range of subjects including econometrics, psychometrics, educational statistics, computation methods and electrical engineering, but they find a common ground in the methods which are represented in the book. It is envisaged that the book will serve as an important work of reference and as a source of inspiration for some years to come.
Download or read book Hidden Markov Models written by Ramaprasad Bhar and published by Springer Science & Business Media. This book was released on 2006-04-18 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Markov chains have increasingly become useful way of capturing stochastic nature of many economic and financial variables. Although the hidden Markov processes have been widely employed for some time in many engineering applications e.g. speech recognition, its effectiveness has now been recognized in areas of social science research as well. The main aim of Hidden Markov Models: Applications to Financial Economics is to make such techniques available to more researchers in financial economics. As such we only cover the necessary theoretical aspects in each chapter while focusing on real life applications using contemporary data mainly from OECD group of countries. The underlying assumption here is that the researchers in financial economics would be familiar with such application although empirical techniques would be more traditional econometrics. Keeping the application level in a more familiar level, we focus on the methodology based on hidden Markov processes. This will, we believe, help the reader to develop more in-depth understanding of the modeling issues thereby benefiting their future research.
Download or read book Econometric Advances in Spatial Modelling and Methodology written by Daniel A. Griffith and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of models is not to fit the data but to sharpen the questions. S. Karlin, 11th R. A. Fisher Memorial Lecture, Royal Society, 20 April 1983 We are proud to offer this volume in honour of the remarkable career of the Father of Spatial Econometrics, Professor Jean Paelinck, presently of the Tinbergen Institute, Rotterdam. Not one to model solely for the sake of modelling, the above quotation nicely captures Professor Paelinck's unceasing quest for the best question for which an answer is needed. His FLEUR model has sharpened many spatial economics and spatial econometrics questions! Jean Paelinck, arguably, is the founder of modem spatial econometrics, penning the seminal introductory monograph on this topic, Spatial Econometrics, with Klaassen in 1979. In the General Address to the Dutch Statistical Association, on May 2, 1974, in Tilburg, "he coined the term [spatial econometrics] to designate a growing body of the regional science literature that dealt primarily with estimation and testing problems encountered in the implementation of multiregional econometric models" (Anselin, 1988, p. 7); he already had introduced this idea in his introductory report to the 1966 Annual Meeting of the Association de Science Regionale de Langue Fran~aise.
Download or read book The Econometrics of Panel Data written by László Mátyás and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this volume is to provide a general overview of the econometrics of panel data, both from a theoretical and from an applied viewpoint. Since the pioneering papers by Kuh (1959), Mundlak (1961), Hoch (1962), and Balestra and Nerlove (1966), the pooling of cross section and time series data has become an increasingly popular way of quantifying economic relationships. Each series provides information lacking in the other, so a combination of both leads to more accurate and reliable results than would be achievable by one type of series alone. Over the last 30 years much work has been done: investigation of the properties of the applied estimators and test statistics, analysis of dynamic models and the effects of eventual measurement errors, etc. These are just some of the problems addressed by this work. In addition, some specific diffi culties associated with the use of panel data, such as attrition, heterogeneity, selectivity bias, pseudo panels etc., have also been explored. The first objective of this book, which takes up Parts I and II, is to give as complete and up-to-date a presentation of these theoretical developments as possible. Part I is concerned with classical linear models and their extensions; Part II deals with nonlinear models and related issues: logit and probit models, latent variable models, incomplete panels and selectivity bias, and point processes.
Download or read book Progressive Post Keynesian Economics written by Jesper Jespersen and published by Edward Elgar Publishing. This book was released on 2019 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is devoted to the progression of Post-Keynesian economics, taking stock of the previous 10 years of persistent imbalances in many dimensions of macroeconomic ‘reality’. This has given inspiration to Post-Keynesian scholars to make innovative contributions in areas like methodology, macroeconomic modelling and teaching. One challenge discussed in several chapters is how to model a complex macro-system where microeconomic uncertainty is increasing? This aspect is elaborated in a number of contributions which focus on the role of the financial sector and financialization for macroeconomic disruptions. Additional chapters deal with teaching and the use of case-studies for a better understanding of the real world economy.
Download or read book The Econometrics of Demand Systems written by David L. Edgerton and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains some of the results from the research project "Demand for Food in the Nordic Countries", which was initiated in 1988 by Professor Olof Bolin of the Agricultural University in Ultuna, Sweden and by Professor Karl Iohan Weckman, of the University of Helsinki, Finland. A pilot study was carried out by Bengt Assarsson, which in 1989 led to a successful application for a research grant from the NKJ (The Nordic Contact Body for Agricultural Research) through the national research councils for agricultural research in Denmark, Finland, Norway and Sweden. We are very grateful to Olof Bolin and Karl Iohan Weckman, without whom this project would not have come about, and to the national research councils in the Nordic countries for the generous financial support we have received for this project. We have received comments and suggestions from many colleagues, and this has improved our work substantially. At the start of the project a reference group was formed, consisting of Professor Olof Bolin, Professor Anders Klevmarken, Agr. lie. Gert Aage Nielsen, Professor Karl Iohan Weckman and Cando oecon. Per Halvor Vale. Gert Aage Nielsen left the group early in the project for a position in Landbanken, and was replaced by Professor Lars Otto, while Per Halvor Vale soon joined the research staff. The reference group has given us useful suggestions and encouraged us in our work. Weare very grateful to them.
Download or read book The Kalman Filter in Finance written by C. Wells and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: A non-technical introduction to the question of modeling with time-varying parameters, using the beta coefficient from Financial Economics as the main example. After a brief introduction to this coefficient for those not versed in finance, the book presents a number of rather well known tests for constant coefficients and then performs these tests on data from the Stockholm Exchange. The Kalman filter is then introduced and a simple example is used to demonstrate the power of the filter. The filter is then used to estimate the market model with time-varying betas. The book concludes with further examples of how the Kalman filter may be used in estimation models used in analyzing other aspects of finance. Since both the programs and the data used in the book are available for downloading, the book is especially valuable for students and other researchers interested in learning the art of modeling with time varying coefficients.
Download or read book Aggregation Consumption and Trade written by L. Phlips and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this testament to the distinguished career of H.S. Houthakker a number of Professor Houthakker's friends, former colleagues and former students offer essays which build upon and extend his many contributions to economics in aggregation, consumption, growth and trade. Among the many distinguished contributors are Paul Samuelson, Werner Hildenbrand, John Muellbauer and Lester Telser. The book also includes four previously unpublished papers and notes by its distinguished dedicatee.
