The application of mathematical formulas and statistical techniques to the testing and quantifying of economic theories and the solution of economic problems.
A procedure consisting of a sequence of algebraic formulas and/or logical steps to calculate or determine a given task.
Theoretical representations that simulate the behavior or activity of systems, processes, or phenomena. They include the use of mathematical equations, computers, and other electronic equipment.
Sequential operating programs and data which instruct the functioning of a digital computer.
A loose confederation of computer communication networks around the world. The networks that make up the Internet are connected through several backbone networks. The Internet grew out of the US Government ARPAnet project and was designed to facilitate information exchange.
The portion of an interactive computer program that issues messages to and receives commands from a user.
The prediction or projection of the nature of future problems or existing conditions based upon the extrapolation or interpretation of existing scientific data or by the application of scientific methodology.
The largest country in North America, comprising 10 provinces and three territories. Its capital is Ottawa.
The religion stemming from the life, teachings, and death of Jesus Christ: the religion that believes in God as the Father Almighty who works redemptively through the Holy Spirit for men's salvation and that affirms Jesus Christ as Lord and Savior who proclaimed to man the gospel of salvation. (From Webster, 3d ed)
Management of the acquisition, organization, storage, retrieval, and dissemination of information. (From Thesaurus of ERIC Descriptors, 1994)
The name given to all Christian denominations, sects, or groups rising out of the Reformation. Protestant churches generally agree that the principle of authority should be the Scriptures rather than the institutional church or the pope. (from W.L. Reese, Dictionary of Philosophy and Religion, 1999)
The Christian faith, practice, or system of the Catholic Church, specifically the Roman Catholic, the Christian church that is characterized by a hierarchic structure of bishops and priests in which doctrinal and disciplinary authority are dependent upon apostolic succession, with the pope as head of the episcopal college. (From Webster, 3d ed; American Heritage Dictionary, 2d college ed)
The interrelationship of medicine and religion.
A concept, developed in 1983 under the aegis of and supported by the National Library of Medicine under the name of Integrated Academic Information Management Systems, to provide professionals in academic health sciences centers and health sciences institutions with convenient access to an integrated and comprehensive network of knowledge. It addresses a wide cross-section of users from administrators and faculty to students and clinicians and has applications to planning, clinical and managerial decision-making, teaching, and research. It provides access to various types of clinical, management, educational, etc., databases, as well as to research and bibliographic databases. In August 1992 the name was changed from Integrated Academic Information Management Systems to Integrated Advanced Information Management Systems to reflect use beyond the academic milieu.
Processes that incorporate some element of randomness, used particularly to refer to a time series of random variables.
The tendency of a gas or solute to pass from a point of higher pressure or concentration to a point of lower pressure or concentration and to distribute itself throughout the available space. Diffusion, especially FACILITATED DIFFUSION, is a major mechanism of BIOLOGICAL TRANSPORT.
A chronobiologic disorder resulting from rapid travel across a number of time zones, characterized by insomnia or hypersomnolence, fatigue, behavioral symptoms, headaches, and gastrointestinal disturbances. (From Cooper, Sleep, 1994, pp593-8)
Computer-based representation of physical systems and phenomena such as chemical processes.
Theoretical representations that simulate the behavior or activity of biological processes or diseases. For disease models in living animals, DISEASE MODELS, ANIMAL is available. Biological models include the use of mathematical equations, computers, and other electronic equipment.
Statistical formulations or analyses which, when applied to data and found to fit the data, are then used to verify the assumptions and parameters used in the analysis. Examples of statistical models are the linear model, binomial model, polynomial model, two-parameter model, etc.
Functions constructed from a statistical model and a set of observed data which give the probability of that data for various values of the unknown model parameters. Those parameter values that maximize the probability are the maximum likelihood estimates of the parameters.
Application of statistical procedures to analyze specific observed or assumed facts from a particular study.
A theorem in probability theory named for Thomas Bayes (1702-1761). In epidemiology, it is used to obtain the probability of disease in a group of people with some characteristic on the basis of the overall rate of that disease and of the likelihood of that characteristic in healthy and diseased individuals. The most familiar application is in clinical decision analysis where it is used for estimating the probability of a particular diagnosis given the appearance of some symptoms or test result.
A mechanism of communicating one's own sensory system information about a task, movement or skill.
Imaging methods that result in sharp images of objects located on a chosen plane and blurred images located above or below the plane.
Software capable of recognizing dictation and transcribing the spoken words into written text.
Disciplines concerned with the interrelationships of individuals in a social environment including social organizations and institutions. Includes Sociology and Anthropology.
The sciences dealing with processes observable in nature.
The deductive study of shape, quantity, and dependence. (From McGraw-Hill Dictionary of Scientific and Technical Terms, 6th ed)
The field of information science concerned with the analysis and dissemination of data through the application of computers.
The study of those aspects of energy and matter in terms of elementary principles and laws. (From McGraw-Hill Dictionary of Scientific and Technical Terms, 6th ed)

Risk-adjusted capitation based on the Diagnostic Cost Group Model: an empirical evaluation with health survey information. (1/526)

OBJECTIVE: To evaluate the predictive accuracy of the Diagnostic Cost Group (DCG) model using health survey information. DATA SOURCES/STUDY SETTING: Longitudinal data collected for a sample of members of a Dutch sickness fund. In the Netherlands the sickness funds provide compulsory health insurance coverage for the 60 percent of the population in the lowest income brackets. STUDY DESIGN: A demographic model and DCG capitation models are estimated by means of ordinary least squares, with an individual's annual healthcare expenditures in 1994 as the dependent variable. For subgroups based on health survey information, costs predicted by the models are compared with actual costs. Using stepwise regression procedures a subset of relevant survey variables that could improve the predictive accuracy of the three-year DCG model was identified. Capitation models were extended with these variables. DATA COLLECTION/EXTRACTION METHODS: For the empirical analysis, panel data of sickness fund members were used that contained demographic information, annual healthcare expenditures, and diagnostic information from hospitalizations for each member. In 1993, a mailed health survey was conducted among a random sample of 15,000 persons in the panel data set, with a 70 percent response rate. PRINCIPAL FINDINGS: The predictive accuracy of the demographic model improves when it is extended with diagnostic information from prior hospitalizations (DCGs). A subset of survey variables further improves the predictive accuracy of the DCG capitation models. The predictable profits and losses based on survey information for the DCG models are smaller than for the demographic model. Most persons with predictable losses based on health survey information were not hospitalized in the preceding year. CONCLUSIONS: The use of diagnostic information from prior hospitalizations is a promising option for improving the demographic capitation payment formula. This study suggests that diagnostic information from outpatient utilization is complementary to DCGs in predicting future costs.  (+info)

Welfare gains from user charges for government health services. (2/526)

The World Bank's Financing health services in developing countries emphasizes demand-side issues--highlighting user fees, insurance, and the private sector as tools for strengthening the health sector. That approach is a major departure from the focus on the supply side--public sector spending, costs, management, and efficiency--that has dominated the international health finance agenda for many years. An important set of empirical papers by Paul Gertler and his co-authors coincided with the release of the policy paper. Gertler's work has questioned a policy of greater dependence on user fees by emphasizing the potential welfare costs to consumers of higher fees for medical services. Many health professionals have adopted the jargon of this new approach without understanding the underlying analysis. This article attempts to demystify the debate that has ensued by illustrating economists' idiosyncratic approach to welfare, explaining how the policy paper and Gertler differ, and suggesting alternative approaches to testing the feasibility of the policy paper's prescriptions.  (+info)

The influence of day of life in predicting the inpatient costs for providing care to very low birth weight infants. (3/526)

The purpose of this study was to test, refine, and extend a statistical model that adjusts neonatal intensive care costs for a very low birth weight infant's day of life and birth weight category. Subjects were 62 infants with birth weights below 1,501 g who were born and cared for in a university hospital until discharged home alive. Subjects were stratified into 250-g birth weight categories. Clinical and actual daily room and ancillary-resource costs for each day of care of each infant were tabulated. Data were analyzed by using a nonlinear regression procedure specifying two separate for modeling. The modeling was performed with data sets that both included and excluded room costs. The former set of data were used for generating a model applicable for comparing interhospital performances and the latter for comparing interphysician performances. The results confirm the existence of a strong statistical relationship between an infant's day of life and both total hospital costs and the isolated costs for ancillary-resource alone (P < 0.0001). A refined series of statistical models have been generated that are applicable to the assessment of either interhospital or interphysician costs associated with providing inpatient care to very low birth weight infants.  (+info)

Pharmacoeconomic analysis of selected antibiotics in lower respiratory tract infection. (4/526)

An interactive pharmacoeconomic model was designed to evaluate the effects of clinical response and adverse drug events on the comparative cost and cost-effectiveness of a relatively new antibiotic, clarithromycin, compared with those of six other antibiotics used to treat community-acquired lower respiratory tract infection. The cost and cost-effectiveness analyses were based don 12 randomized, double-blind, controlled clinical trials conducted between 1987 and 1992 in regionally distributed outpatient clinics in the United States. The trials enrolled a total of 2377 patients. Of the 2377, 1102 patients were treated for acute exacerbation of chronic bronchitis, 591 for pneumonia, and 201 for either of the two conditions. Safety data for one of the antibiotics was obtained from a trial of patients with sinusitis (N = 483). The antibiotics included in the analysis were amoxicillin/clavulanate, ampicillin, cefaclor, cefixime, cefuroxime, clarithromycin, and erythromycin. The main outcome measures were the costs of resources to achieve a clinical response, costs related to managing adverse drug events, and costs of antibiotic treatment from the perspective of managed care. The mean total cost per episode ranged from approximately $137 to $267. The drug acquisition cost typically contributed a small amount to the overall cost. For the cost-effectiveness analysis, in which complication-free cure was used as a proxy for patient satisfaction, the range of mean cost per complication-free cure varied from approximately $307 for clarithromycin to $612 for cefaclor. When ranked from most to least cost-effective, the order was as follows: clarithromycin, cefixime, amoxicillin/clavulanate, erythromycin, cefuroxime, ampicillin, and cefaclor. The costs associated with clinical management (including treatment failure) and managing adverse drug events significantly contribute to the total cost and cost-effectiveness of antibiotics in the outpatient setting. Cost-effectiveness analyses are valuable in analyzing the various costs associated with the treatment of lower respiratory tract infection (acute exacerbation of chronic bronchitis or pneumonia) and may be useful tools for physicians managing patients, members of pharmacy and therapeutics committees developing formularies, and medical staff implementing practice guidelines.  (+info)

Prevention of nonsteroidal anti-inflammatory drug-induced gastropathy: clinical and economic implications of a single-tablet formulation of diclofenac/misoprostol. (5/526)

Nonsteroidal anti-inflammatory drugs (NSAIDs) are commonly used to manage arthritis. While controlling symptoms and improving quality of life, NSAID use is associated with gastroduodenal injury and a 2%-4% annual risk for symptomatic gastroduodenal ulceration, hemorrhage, and perforation. This requires clinicians to balance the efficacy of NSAIDs against the potential risk of serious gastrointestinal events. Identification and stratification of risk can help guide the optimal approach for arthritis management of individual patients or large populations such as managed care organizations. NSAID-induced gastroenteropathy carries considerable economic consequences; 46% of arthritis costs are related to managing serious adverse events. It is reasonable to assume that these costs may not be incurred if high-risk patients are recognized and optimally managed. Newer therapies with proven safety margins present an attractive option, especially for patients at higher risk. The single-tablet formulations of diclofenac and misoprostol (Arthrotec) offer an alternative in managing NSAID patients because of their inherent safety profile. Studies with diclofenac/misoprostol indicate its effectiveness in treating signs and symptoms of arthritis and in reducing the incidence of NSAID-induced gastroenteropathy. As such, this agent may provide improved medical and economic outcomes. This review discusses the clinical aspects of NSAID-induced gastroenteropathy, including available preventive therapies. Approaches to assessing patients' risk for developing complications, and the relationship of medical risk and economic outcomes, are also examined. Although not all patients require preventive therapy, patients with heightened risk may benefit clinically and economically from gastroprotective NSAIDs. Additional research or modeling may provide further insight into the economic implications of managing and preventing NSAID-induced gastroenteropathy.  (+info)

The cost-effectiveness of treatment with lamivudine and zidovudine compared with zidovudine alone: a comparison of Markov model and trial data estimates. (6/526)

In this paper, we present a Markov model for estimating the cost-effectiveness of combination therapy with lamivudine (LMV) and zidovudine (ZDV) compared with ZDV alone. We also compare the predictions of the Markov model for the impact of combination therapy on trial period costs with the actual impact of combination therapy on selected trial period costs estimated from data collected during the clinical trials. In the Markov model, disease stages were defined by CD4 cell count. Based on clinical trial data for patients with CD4 counts higher than 100 cells/mm3, the model assumed that the CD4 cell count level could be maintained above the level at the initiation of therapy for 6.5 months with monotherapy and for 18 months with combination therapy. After this period, transition rates for natural disease progression were used. Incremental lifetime costs and quality-adjusted life years gained with LMV/ZDV compared with ZDV alone were estimated for cohorts of patients initiating antiretroviral therapy at four different CD4 cell count stages. Cost per life year gained varied from $10,000 to $18,000, and cost per quality-adjusted life year gained varied from $14,000 to $27,000. In both cases, the combination therapy was more cost-effective when started earlier in disease progression. These estimates were not sensitive to changes in key parameter values. In addition, the model was used to estimate the impact of combination therapy on healthcare costs during the trial period; these estimated costs were compared with data on the cost of resource use collected during the clinical trial for hospital stays, unscheduled visits, medications, and outpatient procedures. Both the Markov model estimates and the trial data estimates for the trial period showed cost savings in other medical costs, though these were not large enough to completely offset the increased cost for antiretroviral therapy. The model estimates were more conservative than the estimates based on the trial data.  (+info)

Researching the public/private mix in health care in a Thai urban area: methodological approaches. (7/526)

The private health sector has been growing rapidly in many low and middle income countries, yet not enough is known about its sources of finance or characteristics of its users. Moreover, health care reform measures are leading to alterations in the mix of public and private finance and provision, increasing further the need for information. This paper presents and evaluates some research methods which can be used to collect information relevant to considering policies on the public/private mix. They comprise a household survey, a health diary and interview survey, a bed census, and a health resource survey. Each method is described as it was used in a study in a large urban setting in Thailand, and strengths and weaknesses of the methods are identified. The use of data to estimate the shares of public and private finance and provision, and particularly private sources of finance of public hospitals and public sources of finance for private hospitals, is demonstrated. Policy issues highlighted by the data are identified.  (+info)

The effects of group size and group economic factors on collaboration: a study of the financial performance of rural hospitals in consortia. (8/526)

STUDY QUESTIONS: To determine factors that distinguish effective rural hospital consortia from ineffective ones in terms of their ability to improve members' financial performance. Two questions in particular were addressed: (1) Do large consortia have a greater collective impact on their members? (2) Does a consortium's economic environment determine the degree of collective impact on members? DATA SOURCES AND STUDY SETTING: Based on the hospital survey conducted during February 1992 by the Robert Wood Johnson Hospital-Based Rural Health Care project of rural hospital consortia. The survey data were augmented with data from Medicare Cost Reports (1985-1991), AHA Annual Surveys (1985-1991), and other secondary data. STUDY DESIGN: Dependent variables were total operating profit, cost per adjusted admission, and revenue per adjusted admission. Control variables included degree of group formalization, degree of inequality of resources among members (group asymmetry), affiliation with other consortium group(s), individual economic environment, common hospital characteristics (bed size, ownership type, system affiliation, case mix, etc.), year (1985-1991), and census region dummies. PRINCIPAL FINDINGS: All dependent variables have a curvilinear association with group size. The optimum group size is somewhere in the neighborhood of 45. This reveals the benefits of collective action (i.e., scale economies and/or synergy effects) and the issue of complexity as group size increases. Across analyses, no strong evidence exists of group economic environment impacts, and the environmental influences come mainly from the local economy rather than from the group economy. CONCLUSION: There may be some success stories of collaboration among hospitals in consortia, and consortium effects vary across different collaborations. RELEVANCE/IMPACT: When studying consortia, it makes sense to develop a typology of groups based on some performance indicators. The results of this study imply that government, rural communities, and consortium staff and steering committees should forge the consortium concept by expanding membership in order to gain greater financial benefits for individual hospitals.  (+info)

The paper suggests an econometric methodology for testing the effectiveness of reforms implemented in one major step, i.e., discrete reforms. The methodology is based on the exogeneity properties of variables in an econometric model. The paper specifies the preconditions for setting up an appropriate model; suggests an economic interpretation of the tests for weak, strong, and superexogeneity; and illustrates this methodology by applying it to two cases of instantaneous reforms. The exogeneity properties of variables in a correctly specified econometric model may help uncover information on the preparation, implementation, and the outcome of such reforms, which could be useful for future policy advice.
TY - JOUR. T1 - Estimating the price elasticity of US electricity demand. AU - Smith, V. Kerry. PY - 1980/4. Y1 - 1980/4. N2 - The use of a single electricity price has been seen as a major shortcoming of econometric models of residential electricity demand. It has been suggested that demand estimation should be based on the full rate schedule. This suggestion is evaluated here by examining demand estimates for 27 investor-owned US utilities over the period 1957-1972. The specification errors resulting from using an average revenue price are measured. It is found that statistically valid demand estimated do not necessarily require information on tariff schedules, but that state-wide aggregates of elasticity may often be inapplicable to individual utilities.. AB - The use of a single electricity price has been seen as a major shortcoming of econometric models of residential electricity demand. It has been suggested that demand estimation should be based on the full rate schedule. This suggestion ...
A dynamic econometric model of the hog-pork industry is developed. Specification of major behavioral relationships is initially based on theoretical considerations of the rational behavior of microeconomic units. But the theoretical relationships does not give useful information about the expected behavior in the system. Moreover, most economic time series data are happenstance, thus, a certain amount of experimental modeling with an econometric model is conducted. The model consists of four equations, they are the slaughter number, retail pork supply, retail demand and marketing margin equations. The retail pork supply equation is an identity equation. All other equations combined the preinformation which is generated by time series analysis with the economic model specified on the basis of economic theory. The retail demand and marketing margin equations are a simultaneous system. Both 2SLS and 3SLS estimation methods are used ...
Downloadable (with restrictions)! This study offers a simultaneous equations model of the birth process with seven endogenous variables: four birth inputs (maternal smoking, maternal drinking, first trimester prenatal care, and maternal weight gain) and three birth outputs (gestational age, birth length, and birth weight). The data are taken from the National Longitudinal Survey of Youth. Our analysis conditions on twenty-nine exogenous variables including four racial dummies to account for the widely cited racial differences in birth outputs. We find that there is sizeable correlation between the disturbances in the four input and three output equations and among output disturbances, and that results from our simultaneous equations model are substantially different from those using the single-equation approach. It appears that the High/Low Risk Birth Weight Puzzle remains unresolved under our modeling framework. Copyright Springer-Verlag 2003
Downloadable! A forecast produced by an econometric model is a weighted aggregate of predetermined variables in the model. In many models the number of predetermined variables used is very large, often exceeding the number of observations. A method is proposed in this paper for testing an econometric model as an aggregator of the information in these predetermined variables relative to a specified subset of them. The test, called the information aggregation (IA) test, tests whether the model makes effective use of the information in the predetermined variables or whether a smaller information set carries as much information. The method can also be used to test one model against another. The method is used to test the Fair model as an information aggregator. The Fair model is also tested against two relatively non theoretical models: a VAR model and an autoregressive components (AC) model. The AC model, which is new in this paper, estimates an autoregressive equation for each component of real GNP,
View Notes - PanelDataProblemSet4 from B 55.9912 at NYU. Department of Economics Econometric Analysis of Panel Data Professor William Greene Phone: 212.998.0876 Office: KMC 7-78 Home
This course, the first of two, focuses on the development and use of single-equation econometric models that enable analysts to better understand their economic/business landscape and to improve their ability to make sound economic/business forecasts. Through hands-on exercises, participants gain knowledge of the practical elements of applied econometric analysis. The overall aims are to sharpen the quantitative, statistical, and analytical skills of participants in dealing with problems and issues related to business and economics as well as to improve communication skills in reporting findings to decision makers.
An important subset of the literature on agglomeration externalities hypothesizes that intrasectoral and intersectoral relations are endogenously determined in models of local and regional economic growth. Remarkably, structural adjustment models describing the spatio-temporal dynamics of population and employment levels or growth traditionally do not include intersectoral economic dynamics. This paper argues and shows that ... read more allowing for economic linkages across sectors in these models adds considerable value, especially in forecasting. An econometric model of population-employment dynamics, in which sectoral variations in economic development are explicitly taken into account, is applied to a large urban planning policy proposal in the Netherlands. The empirical analyses suggest that population dynamics are largely exogenous, population changes drive employment in particular in the industry and retail sectors, and employment in all sectors depends strongly on intersectoral ...
This master thesis attempts to estimate the short-run and long-run price and income elasticities of crude oil demand in ten IEA member-countries for the time period 1980-2009. Specifically, the price and income elasticities for Sweden, Denmark, Spain, Portugal, Turkey, Finland, Italy, Germany, USA, and Japan are estimated. Crude oil consumption is a function of four explanatory variables: real oil prices, real GDP per capita, oil consumption lagged one year and a time trend representing technological improvements. The econometric model that is used is a multiple regression model derived from an adaption of Nerloves partial adjustment model. Empirical results reveal that elasticities (both price and income) are lower in the short-run and hence more inelastic, indicating that countries need time to respond to changes in price or income. Econometric estimations illustrate that oil consumption is highly price inelastic both in short-run and long-run. Income elasticities are more elastic than price ...
Ecosystem services are benefits people derive from resources in ecosystems. Playa lakes in the Southern High Plains region of North America provide several ecosystem services for humans, including recharge to the Ogallala aquifer. The Ogallala aquifer occupies 450,000 km2, it is part of eight states, and provides irrigation water to over 25% of the irrigated land in the United States. The recharge provided by playas potentially makes them important and valuable in this region. We develop an econometric model (with spatial aspects) to determine how playas affect the water level of irrigation wells and estimate the economic value to farmers of playa ecosystem services in recharging the water in those wells. We find that, in some instances, additional playa surface area may have a small but statistically significant effect on well drawdown (and, we infer, on recharge) on nearby wells, but that the value of the additional water is likely too small to significantly affect private management decisions.
GDP Constant Prices in Kenya is expected to be 1119122.37 KES Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Constant Prices in Kenya to stand at 1106270.36 in 12 months time. In the long-term, the Kenya GDP Constant Prices is projected to trend around 1070016.84 KES Million in 2020, according to our econometric models. This page provides - Kenya GDP Constant Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.
The problems with Chinas regional industrial overcapacity are often influenced by local governments. This study constructs a framework that includes the resource and environmental costs to analyze overcapacity using the non-radial direction distance function and the price method to measure industrial capacity utilization and market segmentation in 29 provinces in China from 2002 to 2014. The empirical analysis of the spatial panel econometric model shows that (1) the industrial capacity utilization in Chinas provinces has a ladder-type distribution with a gradual decrease from east to west and there is a severe overcapacity in the traditional heavy industry areas; (2) local government intervention has serious negative effects on regional industry utilization and factor market segmentation more significantly inhibits the utilization rate of regional industry than commodity market segmentation; (3) economic openness improves the utilization rate of industrial capacity while the internet ...
The sub-discipline of regional economics deals with dissimilar economic performances across space. In trying to understand this, several theoretical perspectives may be drawn upon, and used to justify policies. Both theory and policy are covered in this module, which is split between formal lectures and seminars in which students discuss essays submitted as coursework. Lectures cover a general introduction to the regional policy problem and the calculation of regional GDP; regional economic theory, including econometric models and regional input-output analysis; a brief review of regional policy in Britain, Europe, the USA, and also low income countries. The module concludes by examining new perspectives in regional economics ...
Government Budget Value in Bangladesh is expected to be -100000.00 BDT Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Bangladesh Government Budget Value is projected to trend around -140000.00 BDT Billion in 2020, according to our econometric models.
By David Shern, Ph.D. and Andrea Blanch, Ph.D.. Whenever doing the right thing and doing the smart thing coincide, it increases the chances that something will happen. Elsewhere, we have presented data demonstrating that investments in prevention, especially in early childhood, have lifelong positive impact. They also save money. Econometric models by the Washington State Institute of Public Policy estimate that these prevention programs save many more dollars than they cost. They are smart public investments as well as the right thing to do.. ...
Alessi, L., M. Barigozzi, and M. Capasso: 2011, Nonfundamentalness in Structural Econometric Models: A Review. International Statistical Review (forthcoming).. Breidt, F. J., R. A. Davis, K.-S. Lh, and M. Rosenblatt: 1991, Maximum likelihood estimation for noncausal autoregressive processes. Journal of Multivariate Analysis 36(2), 175-98. Brock,W. A. and C. H. Hommes: 1998, Heterogeneous beliefs and routes to chaos in a simple asset pricing model. Journal of Economic Dynamics and Control 22(8-9), 1235-1274.. Campbell, J. Y. and R. J. Shiller: 1987, Cointegration and Tests of Present Value Models. Journal of Political Economy 95(5), 1062-88.. Campbell, J. Y. and R. J. Shiller: 1988, The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors. Review of Financial Studies 1(3), 195-228.. Hansen, L. P. and T. J. Sargent: 1991, Two Difficulties in Interpreting Vector Autoregressions. In: L. P. Hansen and T. J. Sargent (eds.): Rational Expectations Econometrics. ...
Lee A. Lillard, director of the Retirement Research Center at the University of Michigan, senior research scientist at its Institute for Social Research, and professor of economics, developed a unique method for analyzing the rich compendium of data collected by the Panel Study of Income Dynamics (PSID) since its inception in 1968. Lee died in December 2000, and his colleagues at PSID decided to provide the fruits of his work to the research community so others might benefit from an exploration of his techniques and methodologies for analyzing data. Lee created what he called clean processes to investigate a number of dynamic behaviors that are measured longitudinally in PSID, such as employment, marriage-divorce, and fertility. He and his programmers and research assistants put these processes into a consistent framework, and made decisions about how to resolve inconsistencies, missing items, etc. Data from the files can be entered, as appropriate, in dynamic econometric models of related and ...
The explanation of aggregate and sectoral investment behavior has been one of the less successful endeavors in empirical economics. Existing econometric models have had little success in explaining or predicting investment spending. This may be because most such models fail to account for the irreversibility of most investment spending. With irreversibility, changes in the riskiness of future cash flows or interest rates should in theory dramatically affect the decision to invest - more so than, say, a change in the levels of interest rates. Here I survey some of the empirical support for this proposition, and discuss the implications for investment modelling ...
But those figures too are misleading, because they refer to the cumulative GDP gain from TPP by 2030. Its not clear when the World Bank econometric model assumes TPP will come into effect, but by 2030 its clearly been running for at least ten years, and maybe even 12. That means all of the figures above need to be divided by at least a factor of 10 in order to arrive at the annual boost to growth, which provides a better measure of TPPs impact than the overall figure. So according to the World Banks figures, the US will gain an extra 0.04% GDP per year on average, as a result of TPP; Australia an extra 0.07% annually, and Canada a boost of 0.12% per year. In other words, they differ from the USDAs earlier projection of no measurable impacts on real GDP by amounts that are so small they will be swamped by the general imprecision of the model -- trying to predict what will happen to a big chunk of the global economy out in 2030 is hard, and thats putting it mildly. The fact that two ...
Description: This study compiles and updates the findings of 16 comprehensive state climate action plans and extrapolates the results to the nation. The study then takes those results and using a widely accepted econometric model projects the national impact of these policies on employment, incomes, gross domestic product (GDP) and consumer energy prices. Finally, using the bottom-up data developed by the states and aggregated here, the study models the national impact of major features of the Kerry-Lieberman climate bill under consideration in Congress in 2010. These state action plans and supporting assessments were proposed by over 1,500 stakeholders and technical work group experts appointed by 16 governors and state legislatures to address climate, energy and economic needs through comprehensive, fact-based, consensus-driven, climate action planning processes conducted over the past five years with facilitative and technical assistance by the Center for Climate Strategies. Findings show ...
In this paper we estimate the impacts of climate change on the allocation of time using econometric models that exploit plausibly exogenous variation in daily temperature over time within counties. We find large reductions in U.S. labor supply in industries with high exposure to climate and similarly large decreases in time allocated to outdoor leisure. We also find suggestive evidence of short-run adaptation through temporal substitutions and acclimatization. Given the industrial composition of the US, the net impacts on total employment are likely to be small, but significant changes in leisure time as well as large scale redistributions of income may be consequential. In developing countries, where the industrial base is more typically concentrated in climate-exposed industries and baseline temperatures are already warmer, employment impacts may be considerably larger. ...
Author: International Monetary Fund. Research Dept. Series: IMF Staff Papers, Volume 52, No. 2 Date: August 29, 2005 Notes: Issues from 1998 onward are available for free online Subject: Balance of trade Bank capital Capitalization Central banks Current account Devaluation of currency Developing countries Econometric models Economic growth Financial crises Fiscal policy Fiscal transparency Inflation Inflation targeting International reserves Monetary policy Open economies Recessions Regression analysis ...
First, do it yourself. You can do this. You know your business better than anybody. I have an MBA and I can do weighted averages, smoothing, and econometric models; but I dont. I was a vice president in a market research firm and I saw that the best forecast was not the technical or mathematical models, but the common sense and judgment of the business owners.. Second, look for the drivers. For example, in a business that sells over the Internet, drivers are likely to include web traffic, meaning people looking at the website. That is likely to include browsers who got there by organic search, by clicking ads on the web, or by clicking links in social media, or some other way. Aside from traffic, theres also conversion rate, as in how many of the people browsing on the website purchase something. As another example, in a business selling physical goods in stores, there are the numbers of stores stocked, the sales per store per month, and returns. And yet another example, for the all-important ...
The present work intends to analyse the relation between the property structure as a corporate government variable and the levels of corruption. Empirical analysis will be held by two econometric models and the database comes from a questionnaire done by the World Bank to 606 enterprises, for the year 2005. Previous empirical evidence is limited and it has been a matter to consider to carry out the research. The results obtained show that a higher number of majority shareholders in the property, leads to higher levels of corruption. There is a significant percentage of the sales contracts for bribery. Also, the frequency in which payments for own benefits are carried out is reduced, revealing an inverse relation between corruption and percentage of majority shareholders. Also, negotiation with state agencies contribute to corruption. Finance and [-] ...
One in three pre-school children in the developing world is undernourished. As a consequence, their human rights are violated. In addition, they are more likely to have impaired immune systems, poorer cognitive development, lower productivity as adults, and greater susceptibility to diet-related chronic diseases such as hypertension and coronary heart disease later in life. Undernourished female preschoolers are likely to grow into undernourished young women who are more likely to give birth to babies who are undernourished even before they are born, thus perpetuating the inter-generational transmission of deprivation. Reducing these unacceptably high numbers remains a tremendous challenge to public policy. As a guide to the direction of future efforts, this research report examines the success of the efforts of the past 25 years to reduce preschooler undernutrition. The report uses an econometric model to identify the factors associated with the reduction in undernutrition. The formulation of ...
This book provides an impressive introduction to state-of-the-art methods for solving real-world problems in econometrics, including instructive examples and applied problems.
This study introduces students to applied econometrics, including basic techniques in regression analysis. Key topics in this text include self-contained summaries of the matrix algebra, statistical theory and mathematical statistics used in the book. The book covers Estimator, ML, GMM, and 2 step; panel data, heteroscedasticity, qualitative responsive models, and limited dependant variables. It emphasizes nonlinear models. Topics such as GMM estimation methods, Lagrange multiplier tests and time series analysis are also covered.
This article analyses determinants for 2001 farmland rental prices from 3,819 farms in Germany. Based on specification tests we estimate a general spatial model to account for both spatial relationships among rental prices of neighbouring farmers and spatially autocorrelated error terms. A €1 per hectare higher rental price in a farmers neighbourhood coincides with a €0.72 higher rental price paid by the farmer. The marginal incidence of EU per-hectare payments paid for eligible arable crop land on rental rates amounts to €0.38 for each additional €1 of premium payments. Regional livestock density, which is indirectly influenced by different policies, is also a major determinant of rental prices. Results are confirmed by sensitivity analyses. Consequently, German farmland rental rates are heavily influenced by agricultural policy instruments and therefore, these policies exhibit substantial distributional effects. ...
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This thesis consists of three essays that address open research issues in two econometric frameworks: nonparametric quantile regression framework and social networks, supported by empirical applications. Both econometric approaches are used to achieve a deeper understanding of the economic processes and interactions in comparison to the simple mean regression ...
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By Jens Abildtrup, Serge Garcia and Anne Stenger; Abstract: Forest land use is often associated with the protection of water resources from contamination and the reduced cost of
Another type of cognitive feeling that is relevant to price cognition is the feeling of knowing. The extant literature on the feeling-of-knowing can address a long-standing conundrum in the pricing literature. Evidence from multiple streams of research suggests that price comparisons can be and are often done nonconsciously, without recalling the comparison standard. Price recall surveys have shown that a majority of consumers are unable to correctly articulate the past prices of products, even seconds after selecting them (Dickson and Sawyer 1990; Le Boutillier et al. 1994; Monroe and Lee 1999). For example, Krishna et al. (1991) found that more than 40 % of consumers were unable to provide a response when asked for the regular prices of products they frequently buy, and only 34 % were correct within 20 cents of the actual price. However, econometric analysis of scanner panel data that captured consumer purchase decisions in retail stores painted a different picture. Such econometric studies ...
The analysis follows standardised WHO-CHOICE guidelines on costing analysis, and estimates patient level costs and programme level costs from the societal perspective. Patient level costs are all costs incurred at the level of contact between the provider and the individual patient. The quantities of resources required in terms of diagnostic tests, drug use, and health centre visits for supervision and monitoring and hospitalisation for each of the interventions were based on WHO treatment protocols and expert opinion of actual practice. Drug costs were based on international drug prices21 with a mark up for international and local transportation costs.22 23 Unit costs of health centre visits and hospital inpatient days were based on econometric analysis by Adam et al,24 while those for laboratory tests and x rays were based on the best available international cost information included in WHO-CHOICEs costing database. Unit costs were combined with resource use patterns to estimate the cost per ...
Maria Rosaria Agostino, Francesca Aiello, and Paola Cardamone. Analysing the impact of trade preferences in gravity models. does aggregation matter? 2007. URL . TRADEAG Working Paper 07/4. Accessed June 14, 2009.. Glenn C.W. Ames. An assessment of U.S. market access for traditional and nontraditional agricultural exports under the caribbean basin initiative. Journal of Agribusiness, 11(2), 1993. URL http:// .. B. H. Baltagi. Econometric Analysis of Panel Data, 2nd Edition. John Wiley and Sons Ltd, Chichester, 2001.. Clement Bosquet and Herve Boulhol. Scale-dependence of the negative binomial pseudo-maximum likeli-hood estimator. 2010. GREQAM Working paper No. 2010-39.. P. Brenton and M. Hoppe. The african growth and opportunity act, exports, and development in Sub-Saharan africa. World Bank Policy Research Working Paper, WPS 3996, aug 2006. URL http:// . Accessed July 31, 2009.. Paul Brenton and ...
A Non-Random Walk Down Wall Street is a collection of essays offering empirical evidence that valuable information can be extracted from security prices. Lo and MacKinlay used powerful computers and advanced econometric analysis to test the randomness of security prices. Although this book is a heavy read, the findings should be of interest to technical analysts and chartists. In short, this book documents the presence of predictable components in stock prices. Just prior to this book, Andrew Lo wrote a paper for the Journal of Finance in 2000: Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation. Harry Mamaysky and Jiang Wang also contributed. The papers opening remarks say it all: Technical analysis, also known as charting, has been part of financial practice for many decades, but this discipline has not received the same level of academic scrutiny and acceptance as more traditional approaches such as fundamental analysis. One of ...
With the launch of a new report and online tool for working out optimal media mixes, Thinkbox aims to provide a starting point for investment decisions based on an econometric analysis of over £1 billion of media spend - and no, its not just about ... ...
You learn something new at every Nuremberg Toastmasters meeting. Speaking on the 6th August Gernot talk us through the concept of Price Elasticity of Demand. Below is a short summary of Price Elasticity written by Gernot. Price Elasticity - Many companies want to maximize their revenues. Once it comes to the price policy they have Read more about Speech : Price Elasticity[…]. ...
Short words are better than long words. 1 Introduction. This is a first course in. Behavioral Economics and Public Policy: A Pragmatic Perspective Raj Chetty Harvard University and NBER January 2015 Abstract The debate about behavioral economics { the incorporation of insights from psychology into eco-nomics { is often framed as a question about the foundational assumptions of economic models. In practice n 2 are the nonsignificance limits for both functions. Models of undergraduate research programmes range from individual to institution-wide efforts. THE PRIZE IN ECONOMIC SCIENCES 2018. 2 History of Thought 2. ; explains the estimation of single-equation models. ABADIR†‡ AND JAN R. MacAvoy) , American Enterprise Institute, Washington, DC, 1975. Why study wage determination? Outcome of a labor-market process Distribution of product and surplus Rents (both for themselves and as an indicator of market power) 2. Princeton Economic Confidence Model - Private 51. 1 Ordered Response Models 203 7. ...
Using panel data from a period of water rate reform, this paper estimates the price elasticity of irrigation water demand. Price elasticity is decomposed into the direct effect of water management and the indirect effect of water price on choice of output and irrigation technology. The model is estimated using an instrumental variables strategy to account for the endogeneity of technology and output choices in the water demand equation. Estimation results indicate that the price elasticity of ...
In contrast to traditional methods the elasticity is derived from bilateral price elasticities which relate the net share of switchers between two health insurers not only to their premium difference but also to the market share and premium of the higher priced health insurer. Our new method explains the annual variation in the Dutch market share data better than the traditional methods.. We find in the Dutch social health insurance for the period 1996-2005 rather low negative annual price elasticities ranging between 1 and 0. In that period stickiness of insurer choices was high and less than 5% of the population switched annually from health insurer. This result, however, was in sharp contrast with an exceptional high price elasticity of 7 for the year 2006, where after a major health care reform about 18% of the population switched mostly to lower priced health insurers. Besides large media coverage, one important difference with previous years was that many consumers holding an individual ...
The higher the price elasticity of demand, the lower the sensitivity of market price to shifts of the supply curve. Thus, for necessity goods (such as staple foods and, in the case of petroleum-dependent societies, petroleum products), which have a low price elasticity of demand, the market price is much more sensitive to shifts in supply. In particular, a small supply shock can cause a significant increase in price. The main explanation for this massive shift is that, because of the relative inelasticity of demand to price, the price needs to be increased significantly to induce people to cut down on demand in order to compensate for the reduction in supply. In contrast, for non-essential goods, which generally have a high price elasticity of demand, supply shifts do not generally lead to significant price changes, because small (fractional) changes in price are sufficient to induce buyers to cut back on demand. ...
A definition and the formula Again, the key word is responsiveness, but this time we need to find out how responsive supply is to a given price change (rather than demand). Unsurprisingly, the formula used is very similar to the others in structure: /**/ Where: Es = The price elasticity of supply Δ = change in Qs = Quantity supplied P = Price Using the formula I do not want to dwell on this for two reasons. First, there are far fewer questions in examinations focused on the price elasticity of supply. Examiners prefer demand, where one can analyse the affects on the revenues on the firm in question (see the Learn-It on the Price elasticity of demand). Secondly, the way in which one uses this formula is exactly the same as the way in which one uses the formula for the price elasticity of demand. Try the following examples to check that you agree with me. Click on the appropriate button to reveal the answers. /**/The market price for apples rises from 50p per lb to
Supply Demand and Price Elasticity essay writing service, custom Supply Demand and Price Elasticity papers, term papers, free Supply Demand and Price Elasticity samples, research papers, help
26. The most important determinant of price elasticity of supply is (Points: 1) price elasticity of demand technological - Answered by a verified Tutor
Elasticity of demand is mainly useful in Pricing Decisions by Business Firms. The business firms take into account the price elasticity of demand when they take decisions regarding pricing of the goods. This is because change in the price of a product will bring about a change in the quantity demanded depending upon the coefficient of price elasticity. This change in quantity demanded as a result of, say a rise in price by a firm, will affect the total consumers expenditure and will therefore, and affect the revenue of the firm. If the demand for a product of the firm happens to be elastic, then any attempt on the part of the firm to raise the price of its product will bring about a fall in its total revenue. Thus, instead of gaining from the increase in price, it will lose if the demand for its product happens to be elastic. On the other hand, if the demand for the product of a firm happens to be inelastic, then the increase in price by it will raise total revenue. Therefore, for fixing a ...
How Do Prices of Manufactured Cigarettes and Roll-Your-Own Tobacco Affect Demand for these Products? (Regional Study 1; 2020). In this research, price elasticities of two tobacco products MC and RYO are analysed by examining cross-country variation in prices and tobacco consumption and controlling for other relevant characteristics. Therefore, estimated elasticities are cross-country and more specifically, across s-regions within the countries studied. These elasticities indicate if differences in smoking prevalence and/or intensity depend on the differences in prices of MC and RYO.. Tobacco Price Elasticity un Southestern Europe - download here.. ...
What We Did: We used manufacturing analytics to develop a pricing analysis framework to identify the impact of change in price of a product on its demand to improve promotion effectiveness for a leading food manufacturer.. The Impact We Made: With the pricing analysis framework, the client was able to design multiple trade promotions for retailers, which led to 8% increment in sales volume.. Summary - Price elasticity of demand model. Being a food manufacturer, it is imperative for the client to optimally price their products within or outside promotions to sustain demand. The client used to purchase pricing analysis from a third party vendor. This was proving to be an expensive affair and the client saw a need to have an in-house team to be able to do it accurately and in a scalable fashion. Mu sigma team enabled the client with the price elasticity exercise at brand / consumer segment level to achieve the required outcome.. About The Client - Large CPG company. The client is a leading food ...
Its no secret that there has been a shift in shopping behavior due to growth in millennial spending power, aging of baby boomers and the growth of online shopping. These changes are impacting pricing and demand, and are creating a disconnect for retailers and brands between what theyre charging and how much consumers will actually spend. First Insight recently released a study, Decoding Price Elasticity to Unlock Revenue and Minimize Risk, which examines how retailers can best price a category to meet demand while protecting margins and avoiding excess inventory.. Source: Total Retail Read Full Story: Price Elasticity. ...
One method that Toyota can consider is using the price elasticity of demand to determine whether to increase or decrease the sale price of their automobiles. The responsiveness or sensitivity of consumers to a price change is measured by a products price elasticity of demand (McConnell & Brue, ).
Interesting article on price elasticity when firms sell to other firms. If changes in prices do not affect demand, then price elasticity is not helpful in setting the profit maximizing price ...
Types of Price Elasticity of Demand Price elasticity of demand is a term in economics often used when discussing price sensitivity. In other words, the pri
price elasticity of demand of whiskeythe price elasticity of demand for imported whiskey is estimated to be -0.20 over, Hire Business Economics Expert, Ask Economics Expert, Assignment Help, Homework Help, Textbooks Solutions
MaximRMS has greatly enhanced the price elasticity capabilities within the MVE(TM).. Dynamic Price Elasticity capabilities identify and focus on true competitors for each situation and take advantage of competitor rate changes and variations in demand.. Leveraging rate shop data, the totels own customer response to changes in rates by your hotel or your competitors, and competitive forward demand data, MaximRMS determines both. ...
This experiment demonstrates how to build a basic price elasticity model. Tags: retail, pricing, price optimization, price elasticity, regression
Working with the Mexican division of a major global consumer package goods company, a study was conducted to better understand the ROI on marketing spending, coupled with a price elasticity study in a product category where the firm had several leading brands. Besides helping shift consumer and trade spending to brands and programs that delivered a significantly better ROI, the price elasticity study was quickly utilized when there was a major increase in commodity costs. Using the data and incorporating it into a proprietary model, the company revised their previously devised pricing plans resulting in a 20 improvement in profitability versus the annual plan.. ...
Calculate price elasticity of demand responsiveness with our comprehensive price elasticity of demand calculator and calculation guide.
Concept of Price Elasticity of Demand The price elasticity of demand measures the degree of responsiveness of quantity demanded for a certain commodity to
Price elasticity of demand Marija managed to explain perfectly what is the price elasticity and what are the factors that affect it: availability of
Carbon emissions from products contribute to anthropogenic climate change. Because of the growing concern over the environmental impact of production and consumption of consumer goods, carbon footprint information started to appear on labels of several products. In this paper we use both parametric and non-parametric econometric models in order to estimate Egyptian consumers willingness to pay (WTP) for carbon-labeled products. Contingent valuation methods based on log-logistic, log-normal and Weibull regression models revealed that consumers in Egypt are willing to pay a price premium of approximately 75 Egyptian pounds (EP) for carbon-labeled products based on the single-bound dichotomous choice (SBDC) model and up to 90 EP based on the double-bound dichotomous choice (DBDC) model. From a socio-economic perspective, results have also revealed that income, age, gender, and educational level have a significant influence on the respondents WTP. Implications of this study highlight the fact that ...
Seminal papers of Solow (1957) and Swan (1956) stimulated debate among economists on the role of technical change in productivity improvements and for that matter economic growth. The consensus is that technological change accounts for a significant proportion of gross national product (GNP) growth in industrialised economies. In the case of Australia, the aggregate productivity performance was poor in the 1970s and 1980s, but picked up very strongly by the 1990s, and was above the OECD average growth level for the first time in its productivity growth history. However, this high productivity growth rate could not be sustained and Australia started to experience a slowdown in productivity growth since 2000. This study empirically measures the performance of productivity in Australias economy for the period 1950-2005, using an econometric approach. Time-series data are used to develop econometric models that capture the dynamic interactions between GDP, fixed capital, labour units, human ...
These essays examine econometric models of health behavior. The first essay evaluates the Kids N Fitness program, an intervention to reduce childhood overweight and obesity. The second essay uses a Childrens Hospital of Los Angeles private dataset to examine determinants of diabetic glycemic control transitions. The third essay analyzes drinking behavior and the response to spousal death among the elderly, utilizing the Health and Retirement Study panel dataset. In each case, I analyze the health behavior choice controlling for available individual characteristics including economic variables. The models apply rigorous econometric techniques and are explicit about the underlying assumptions.; I find that the Kids N Fitness program is effective at helping overweight children reduce their BMI Z Score. In addition, the analysis points towards the conclusion that more highly trained instructors do not yield improved program efficacy. I find that being a teenager negatively impacts the probability ...
Prior to 1985, ten states adopted some kind of indexing provisions for their personal income tax systems. Seven of these states subsequently suspended their indexing laws for one or more years. In this paper we examine the states experience with income tax indexing and see what lessons can be drawn from it. We describe the indexing statutes, and estimate simple econometric models of both the decisions to adopt indexing and to renege on a promise to index. ...
An econometric model of civil war is applied to the analysis of conflict in sub-Saharan Africa. Results show that Africa has had a similar incidence of civil conflict to other developing regions, and, with minor exceptions, its conflicts are consistent with the global pattern of behavior. However,
Tax and Transfer Policy Institute (March 2017). This paper uses detailed information about household supermarket purchases from the Australian Nielsen Homescan Survey to estimate price elasticities of demand for a range of food categories. An instrumental variable strategy is employed to address endogeneity issues. The estimates obtained from our analysis are used to study five scenarios in which the rate of the GST on food categories is increased or in which the tax base is broadened to include currently GST-free categories. Our findings reveal that there is considerable scope for raising revenue by increasing the rate and broadening the tax base. Low-income households (the bottom 40% of the income distribution) can be compensated for the loss in consumption induced by a tax increase. We demonstrate that increasing the rate of the GST from 10% to 15% and broadening the tax base would increase tax revenues by up to $8.6 billion, whereas compensating low-income households would require up to $2.2 ...
In addition, there is mounting anecdotal evidence from country studies that access to telecommunications in rural areas enhances development. The economic benefits of rural ICT access are primarily due to access to information, markets, and increased business opportunities.[3]. Africas ICT situation is by and large poor by international standards. Most Africans do not yet have access to the basic ICT services needed to make or receive a simple telephone call, while the rest of the world is dominated by advanced digital telecommunication systems and the Internet.. Although almost all Sub-Saharan countries are poor by international standards, they exhibit great disparities in coverage by cell telephone systems. Statistics on country-level percentages of urban and rural populations within range of cell phone towers in March, 2004 revealed variation in coverage from 0 to 100%. Rural coverage was negligible or nonexistent in 17 countries [4], but above 47% in the top quartile; urban coverage was ...
Background Food taxes and subsidies are one intervention to address poor diets. Price elasticity (PE) matrices are commonly used to model the change in food purchasing. Usually a PE matrix is generated in one setting then applied to another setting with differing starting consumption and prices of foods. This violates econometric assumptions resulting in likely misestimation of total food consumption. We illustrate rescaling all consumption after applying a PE matrix using a total food expenditure elasticity (TFEe, the expenditure elasticity for all food combined given the policy induced change in the total price of food). We use case studies of NZ$2 per 100g saturated fat (SAFA) tax, NZ$0.4 per 100g sugar tax, and a 20% fruit and vegetable (F&V) subsidy. Methods We estimated changes in food purchasing using a NZ PE matrix applied conventionally, then with TFEe adjustment. Impacts were quantified for total food expenditure and health adjusted life years (HALYs) for the total NZ population alive ...
In practice, water pricing is the main economic instrument used to discourage the wasteful use of residential water. Owing to considerations of affordability, residential water is systematically underpriced because water is essential for life. Such a low price results in water being used inefficiently. This paper proposes a system that supplements the existing price system with a cap-and-trade measure to reconcile conflicts among the goals of residential water use. It forces all people (independent of income) to be faced with reasonable price signals and to use water efficiently. The poor could, however, gain from trade and afford water. By taking advantage of the agent-based model, a simulation of this system applied to Taipei, Taiwan shows that those with lower income per capita are better off under this system even though the equilibrium price of residential water is higher. The simulated average price elasticity of market demand is −0.449 ...
One underexplored factor directly affecting firms use of trademarks relates to the fees associated with obtaining a mark. This paper provides econometric estimates of the fee elasticity of demand for trademark applications. Using a panel of monthly international trademark applications, I find that a 10-percent increase in fees leads to a 2.5-4.0-percent decrease in applications. The econometric analysis also highlights that trademark filings react strongly to economic activity. The results bear implications for literature on the value of trademarks and for the use of trademarks as innovation indicator. Specifically, low elasticity estimates suggest that trademarks provide significant economic value to their owners relative to their costs. However, one must exercise caution when comparing trademark numbers across countries to the extent that fees might differ substantially. de Rassenfosse, Gaetan
PriceElasticity and Taxation Essay. Priceelasticity of demand indicates the connection between the cost ofgoods and the amount demanded by consumers. In other words, itmeasures the response after the price of a product change. Aproduct`s consumption is believed to be price elastic when analteration in the cost of a product or service results in a biggerpercentage variation in demand. Also, the demand is described asprice inelastic when a variation in price results to a smallerpercentage alteration in demand. Although the tax burden depends onthe price elasticity of demand and supply rather than on the sourceof revenue, the burden of tax can fall more on producers or consumersdepending on the circumstance. This paper seeks to compare therelatively inelastic demand with the inelastic demand as it describesthe difference between the collected government tax revenues and theeconomic burden of the tax. Thesource of government revenue is taxes. Nonetheless, taxes reduce bothdemand and supply in the ...
In economics, price elasticity of demand refers to the degree to which demand for a particular good or service changes as a result of changes in price. If a product is highly elastic, a large increase in price should result in a large drop in demand as consumers decide not to buy the newly expensive product. If a product is inelastic, however, a change in price will have no effect on demand for the product.. ...
6. Proportion of Expenditure Items that constitute a smaller amount of expenditure in a consumers family budget tend to have a relatively inelastic demand, e.g., a cinegoer who sees a film once a month is not likely to give it up when the ticket rates are raised. But one who sees a film once every week perhaps may cut down the number of films seen per week. Similarly, a family which enjoys eating out twice a week, may reduce their rejoicing if the rates go up. But may not hold true in case of a family which does the same only on somebodys birthday in the house. Cheap or small expenditure items like matches, sugar, kerosene candles, broomstick tend to have more demand in elasticity than expensive or large expenditure items.. This is second part of factor influencing price elasticity of demand and wanna read first part then click here.. 7. Durability of the Commodity In the case of durable goods, the demand generally tends to be elastic e.g. furniture, motor cycles, T.V. sets etc. In the case of ...
This was the topic of a post here in 2014, which got 1 (one) comment.. Price elasticity means how much demand will be reduced if price goes up.. Thats an important point now. Some people think that Bitcoin fees need to be low or zero, or users will switch to something else, and Bitcoin will be doomed.. The question if that is right depends on the question if and how much demand is elastic.. Right now empiric data doesnt point to high elasticity. Fees are way up, but there are still enough users to keep block size fluctuating around 850k.. My best estimate for average transaction size is somewhat more than $1,000. Bitcoin is moving around $300 million a day, with around 260,000 transactions.. For an $1,000 transaction, obviously saving a couple of dimes in fees is not a strong consideration. So it makes sense to expect low elasticity at the present level (average fee of less than $1).. So the answer would be: Yes, some users will be priced out of Bitcoin without larger blocks. But right now, ...
One famous econometric model of this nature is the Federal Reserve Bank econometric model. Benefit financing model Sims, ... Econometric models are statistical models used in econometrics. An econometric model specifies the statistical relationship ... An econometric model can be derived from a deterministic economic model by allowing for uncertainty, or from an economic model ... Some of the common econometric models are: Linear regression Generalized linear models Probit Logit Tobit ARIMA Vector ...
Several RAND researchers are skilled in the use of econometric models and use them to help explain how economic and political ... and comprehensive econometric models are often used to guide public policy decisions. ... Statistical models can characterize relationships between aspects of economic behavior, ... Econometric Models. Statistical models can characterize relationships among aspects of economic behavior, and comprehensive ...
The results show that the AC model dominates the VAR model, although both models are dominated by the Fair model. The results ... The Fair model is also tested against two relatively non theoretical models: a VAR model and an autoregressive components (AC ... A method is proposed in this paper for testing an econometric model as an aggregator of the information in these predetermined ... The method can also be used to test one model against another. The method is used to test the Fair model as an information ...
Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Econometric and statistical methods, Payment ...
... linear time-series models; estimating and checking time-series models; forecasting with time-series models; applications of ... introduction to simulation models; dinamic behavior of simulation models); The-series models (smoothing and extrapolation of ... two-variable regression model; multiple regression model; using the multiple regression model; serial correlation and ... models of quantitative choice); Multi-equation simulation models (simultaneous-equation estimation; ...
This paper examines alternative applications of resampling methods to estimation and inference in econometric models. The major ... On Resampling Inference in Econometric Models. In: Carter R.A.L., Dutta J., Ullah A. (eds) Contributions to Econometric Theory ... This paper examines alternative applications of resampling methods to estimation and inference in econometric models. The major ... Szroeter, Jerzy, (1978) A Class of Parametric Tests for Heteroskedasticity in Linear Econometric Models Econometrics 46, 6, ...
The aim of the article is to introduce a complex econometric model of cash-flows for the Czech life insurance market. Namely, ... The suggested model is statistically verified and thus it can provide useful economic interpretations. Further, adjusted ... variables observed in annually published summary balance sheets of life insurers are described by means of an econometric ... "Econometric Model of the Czech Life Insurance Market," Prague Economic Papers, University of Economics, Prague, vol. 2015(2), ...
... what type of model to build, building the appropriate model, testing it statistically, and applying the model to practical ... This well known text helps students understand the art of model building - ... models_and_economic_forecast.html?id=ZQLsAAAAMAAJ&utm_source=gb-gplus-shareEconometric models and economic forecasts. ... Econometric models and economic forecasts. McGraw-Hill international editions: Economics series. Economics series. ...
... and model dependent. Across all model specifications, however, income inequality between countries is lower with solar ... but projections for global GDP-per-capita by the end of the century are highly dispersed and model dependent. ... we apply macroeconomic impact models that have been widely applied to climate change impacts assessment. Combining historical ... Model 6 estimates a pooled growth model with quadratic temperature, region-year fixed effects, and no country time trend. Model ...
st: joint modeling of survival & longitudinal data (econometric version?). Date. Mon, 12 Jun 2006 14:28:56 -0500. Hi - In ... st: joint modeling of survival & longitudinal data (econometric version?). From. Feiveson, Alan H. (JSC-SK311) ,alan.h. ... In rudimentiary terms, my understanding of the Wulfsohn Tsiatis model is that of two variables, say T and X , where T given X ... WIth all the sophisticated econometric instrumental variable, etc. routines in Stata, I wonder if there is one already there ...
Econometric Analysis of Present Value Models When the Discount Factor Is near One. Kenneth D. West. NBER Working Paper No. ... Summer Institute Econometric Lectures. NBER Annual Conference on Macroeconomics. New Developments in Long-Term Asset Management ... the Far Eastern Meetings of the Econometric Society and the University of Wisconsin for helpful comments, and the National ...
Time Series and Econometric Modelling. Advances in the Statistical Sciences: Festschrift in Honor of Professor V.M. Joshis ... Bootstrapping Estimator Time series Variance analysis of variance best fit calculus econometrics modeling ... On Robustness of Tests of Linear Restrictions in Regression Models with Elliptical Error Distributions ... Asymptotic Properties of Single Equation Errors in Variables Estimators in Rational Expectations Models ...
The Econometric Society. An International Society for the Advancement of Economic Theory in its Relation to Statistics and ... If you are a current qualifying member of The Econometric Society, you can register online. Registration is necessary to enjoy ... Powered & Designed by Design Brooklyn © The Econometric Society 2014 Terms of Use , Privacy Policy , Contact ... Please make your donation to further the goals of the Econometric Society. ...
The Econometric Society. An International Society for the Advancement of Economic Theory in its Relation to Statistics and ... If you are a current qualifying member of The Econometric Society, you can register online. Registration is necessary to enjoy ... Powered & Designed by Design Brooklyn © The Econometric Society 2014 Terms of Use , Privacy Policy , Contact ... Supplement to "Analysis of Testing-Based Forward Model Selection". This zip file contains the replication files for the ...
The effects of the Danish saturated fat tax on food and nutrient intake and modelled health outcomes: an econometric and ... We find a modelled reduction in mortality with 123 lives saved annually, 76 of them below 75 years equal to 0.4% of all deaths ... Modelling the effect of the changes in diet on health outcomes suggests that the saturated fat tax made a positive, but minor, ... The resultant changes in dietary quality are then used as inputs into a comparative risk assessment model (PRIME (Preventable ...
ISSNs: 1475-2859. Additional searchable ISSN (Electronic): 1475-2859. BioMed Central, United Kingdom. BFI (2019): BFI-level 1, Scopus rating (2018): CiteScore 4.43 SJR 1.407 SNIP 1.232, Web of Science (2019): Indexed yes, ISI indexed (2013): ISI indexed yes. Indexed in DOAJ. Central database. Journal ...
... Additional Information. Author. Bent Nielsen, David F. Hendry. ... OxMetrics provides an integrated solution for the econometric analysis of time series, forecasting, financial econometric ... One of the new features in Stata 15 is spatial autoregressive models. These account for correlation between points or areas in ... An improved approach to empirical modelling. OxMetrics developer Prof. Sir David Hendry and Dr. Jennifer Castle discuss "An ...
These models include the spatial Durbin model (SDM), spatial error model (SEM), spatial Durbin error model (SDEM), spatial ... His research interests include econometric modeling, spatial and spatiotemporal modeling, and high-performance computing. Wu ... Even though the SAR model presented an improvement over the linear model in terms of AIC, many other models are available in ... Spatial econometric modeling using PROC SPATIALREG 2 By Guohui Wu on The SAS Data Science Blog August 23, 2016. Topics , ...
While the technique has been used successfully by a few large scale model builders and by the authors for several commodity ... models, the experience gained in the use of the technique has not been generally disseminated. Obtaining convergence with such ... A Methods Note on the Gauss-Seidel Algorithm for Solving Econometric Models Heien, Dale ; Mathews, Jim ; Womack, Abner W. ... Home , A Methods Note on the Gauss-Seidel Algorithm for Solving Econometric Models ...
Econometric models Remove constraint Topic: Econometric models Format Book OR Microfilm Remove constraint Format: Book ,strong ... An econometric decomposition of aggregate data : application to the EU-15 average cattle slaughter weight / ... 4. An econometric analysis of the demand for RTE cereal : product market definition and unilateral market power effects / ... A new general conceptual approach to modeling the livestock sector : an application to the Japanese swine-pork sector / ...
Enhancing Metabolic Models with Genome-Scale Experimental Data. Jensen, K., Gudmundsson, S. & Herrgård, M., 2018, Systems ... Multi-scale modeling for sustainable chemical production. Zhuang, K., Bakshi, B. R. & Herrgard, M., 2013, In: Biotechnology ... Integration of enzymatic data in Bacillus subtilis genome-scale metabolic model improves phenotype predictions and enables in ... A Genome-Scale Metabolic Model for Methylococcus capsulatus (Bath) Suggests Reduced Efficiency Electron Transfer to the ...
... Principles of functioning of ... Econometric estimation of parameters of production functions performed in logarithms using least squares method. For each model ... "Econometric modeling of the dynamics of volumes hydrocarbons of small oil and gas enterprises" ??????? ... "Econometric modeling of the dynamics of volumes hydrocarbons of small oil and gas enterprises" ...
Econometric models Remove constraint Topic: Econometric models Format Book Remove constraint Format: Book Publish Date 1994 OR ... A macroeconometric model of the Bangladesh economy : model, estimation, validation and policy simulation / ... An economic analysis of international feed and malting barley markets : an econometric spatial oligopolistic approach / ... Linear probability models of the demand for attributes with an empirical application to estimating the preferences of ...
Econometric Models, Techniques and Applications, Prentice Hall, Englewood Cliffs, New Jersey. · Johnston, J (1963). Econometric ... Fair, R C ( 1974). On Robust Estimation of Econometric Models, Annals of Economic and Social Measurement, Vol. 3,pp. 667 - 678 ... Weiss, A A (1991). Estimating Non-linear Dynamic Models using Least Absolute Error Estimation. Econometric Theory, Vol. 7, pp. ... Dasgupta, Madhuchhanda and Mishra, SK (2004): Least absolute deviation estimation of linear econometric models: A literature ...
... by Gerald ... What can I enable to be this in the Image? If you say on a new read Econometric Modeling in Economic, like at Expulsion, you ... unleashed one read Econometric Modeling in Economic this claims the ancestry of an evidence at the cartel of the Nation over a ... If this read Econometric Modeling proves in abwandte for another power and chooses on in the ancient email in this storage, it ...
Financial Econometric Modeling is an introductory text that meets the learning challenge of integrating theory, measurement, ... Financial econometrics brings financial theory and econometric methods together with the power of data to advance understanding ... Multivariate GARCH Models 14.1 Motivation. 14.2 Early Covariance Estimators. 14.3 The BEKK Model. 14.4 The DCC Model. 14.5 ... 11.5 Dynamic Panel Models. 11.6 Nonstationary Panel Models. 11.7 Exercises. 12. Latent Factor Models 12.1 Motivation. 12.2 ...
Predictability and Model Selection in the Context of ARCH Models. Published in: Journal of Applied Stochastic Models in ... Bianchi, Carlo and Calzolari, Giorgio and Corsi, Paolo (1979): A package for analytic simulation of econometric models. ... Bianchi, Carlo and Calzolari, Giorgio (1979): Simulation of a nonlinear econometric model. Published in: Simulation of Systems ... C5 - Econometric Modeling (765)*C53 - Forecasting and Prediction Methods ; Simulation Methods (765) ...
Econometric analysis of quantile regression models and networks : With empirical applications. Marchenko, Maria ... Both econometric approaches are used to achieve a deeper understanding of the economic processes and interactions in comparison ... This thesis consists of three essays that address open research issues in two econometric frameworks: nonparametric quantile ...
Security risk models have successfully estimated the likelihood of attack for simple security threats such as burglary and auto ... Toward econometric models of the security risk from remote attacks. @article{Schechter2005TowardEM, title={Toward econometric ... Security risk models have successfully estimated the likelihood of attack for simple security threats such as burglary and auto ... Distributed Intrusion Detection System Based on Mixed Cooperative and Non-Cooperative Game Theoretical Model. Amin Nezarat ...
Specification of the Econometric Model[edit]. Here, we assume that the mathematical model is correct but we need to account for ... Does the econometric model support this hypothesis. What we do here is called statistical inference (hypothesis testing). ... Estimation of the model[edit]. Here, we quantify β. 1. {\displaystyle \beta _{1}}. and β. 2. {\displaystyle \beta _{2}}. , i.e ... Lastly, if the theory seems to make sense and the econometric model was not refuted on the basis of the hypothesis test, we can ...
  • Econometric models are statistical models used in econometrics. (
  • A large part of econometrics is the study of methods for selecting models, estimating them, and carrying out inference on them. (
  • On the formulation of empirical models in dynamic econometrics ," Journal of Econometrics , Elsevier, vol. 20(1), pages 3-33, October. (
  • I thank Nonarit Bisonyabut, Roberto Duncan, Terry Iverson and Ping Yu for research assistance, and two anonymous referees, seminar audiences at Duke, the Triangle Econometrics Conference, the Far Eastern Meetings of the Econometric Society and the University of Wisconsin for helpful comments, and the National Science Foundation for financial support. (
  • Financial econometrics brings financial theory and econometric methods together with the power of data to advance understanding of the global financial universe upon which all modern economies depend. (
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  • For that, in the absence of controlled physical experiments like those of Tyndall [ 10 ], which are not possible at the global or regional levels with or without computer models, econometrics is essential. (
  • Econometrics Beat: Dave Giles' Blog: What is an Econometric Model? (
  • I believe that 'econometrics' is really just statistical modelling or time series modelling in disguise. (
  • This book offers an up-to-date coverage of the basic principles and tools of Bayesian inference in econometrics, with an emphasis on dynamic models. (
  • It shows how to treat Bayesian inference in non linear models, by integrating the useful developments of numerical integration techniques based on simulations, and the long available analytical Cited by: Bayesian Inference in Dynamic Econometric Models (Advanced Texts in Econometrics) - Kindle edition by Bauwens, Luc, Lubrano, Michel, Richard, Jean-François. (
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  • Early work in econometrics paid inadequate attention to this distinction and overlooked for many years the possibilities of improving statistical estimates of individual economic relationships by embedding them in models of the economy as a whole [ see ECONOMETRIC MODELS, AGGREGATE ]. (
  • The research at the Department of Statistics mainly concerns two fields, econometrics (both micro and time series econometrics) and Structural Equations Modelling (SEM). (
  • Within micro econometrics the focus is on causal inference while in time series econometrics, we study macro economic models, in particular analysis of long term relations, i.e. cointegration, and forecasting. (
  • Causality: Models, Reasoning, and Inference. (
  • This paper examines alternative applications of resampling methods to estimation and inference in econometric models. (
  • SAS/ETS 14.2 introduces one such tool, the SPATIALREG procedure, which enables you to include spatial information in the analysis and improve the econometric inference and statistical properties of estimators. (
  • Consequently, if you ignore the spatial dependence in the data by fitting a linear regression model to the data, you run the risk of false inference. (
  • He is the author of Statistical Foundations of Econometric Modelling (Cambridge, 1986) and, with D. G. Mayo, Error and Inference: Recent Exchanges on Experimental Reasoning, Reliability, and the Objectivity and Rationality of Science (Cambridge, 2010). (
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  • This paper develops semiparametric Bayesian methods for inference of dynamic Tobit panel data models with unobserved individual heterogeneity, and applies them to study female la- bor supply using the National Longitudinal Survey of Youth (NLSY79). (
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  • with Bayesian inference in VAR models, but does not include routines for estimation. (
  • It shows how to treat Bayesian inference in non linear models, by integrating the useful developments of numerical integration techniques based on simulations, and the long available analytical results of Bayesian inference for linear regression 3/5(1). (
  • Estimate and forecast linear time series models using Bayesian inference. (
  • Distributed Simultaneous Inference in Generalized Linear Models via Confidence Distribution (an early version available on arXiv) . (
  • Bayesian statistical inference cannot easily operate when the likelihood function associated with the data is not entirely known, or cannot be computed in a manageable time, as is the case in most population genetic models ( 1 ⇓ - 3 ). (
  • 2 Econometrica, Vol. 78, No. 1 (January, 2010), INFERENCE FOR THE IDENTIFIED SET IN PARTIALLY IDENTIFIED ECONOMETRIC MODELS BY JOSEPH P. ROMANO AND AZEEM M. SHAIKH 1 This paper provides computationally intensive, yet feasible methods for inference in a very general class of partially identified econometric models. (
  • This paper provides computationally intensive yet feasible methods for inference for one large class of such models. (
  • Our results on confidence regions for the identified set build upon the earlier work of Chernozhukov, Hong, and Tamer (2007), who were the first to consider inference for the same class of partially identified models. (
  • Some of the common econometric models are: Linear regression Generalized linear models Probit Logit Tobit ARIMA Vector Autoregression Cointegration Hazard Comprehensive models of macroeconomic relationships are used by central banks and governments to evaluate and guide economic policy. (
  • This paper analyzes a procedure called Testing‐Based Forward Model Selection (TBFMS) in linear regression problems. (
  • This procedure inductively selects covariates that add predictive power into a working statistical model before estimating a final regression. (
  • The results of parameter estimation from a linear regression model, shown in Table 1, suggest that three predictors-income, crime, and bachelor-are all significant at the 0.01 level. (
  • Figure 2 provides the plot of predicted homeValue from the linear regression model. (
  • Although the comparison of Figure 1 and Figure 2 might suggest that predicted homeValue from the linear regression model captures the general pattern in the observed data, you need to be careful about some underlying assumptions for linear regression. (
  • The Least Squares method of estimation of parameters of linear (regression) models performs well provided that the residuals (disturbances or errors) are well behaved (preferably normally or near-normally distributed and not infested with large size outliers) and follow Gauss-Markov assumptions. (
  • This thesis consists of three essays that address open research issues in two econometric frameworks: nonparametric quantile regression framework and social networks, supported by empirical applications. (
  • Both econometric approaches are used to achieve a deeper understanding of the economic processes and interactions in comparison to the simple mean regression. (
  • The comprehensive scope of the textbook has been expanded by the addition of a new chapter on the Linear Regression and related statistical models. (
  • Each of these models uses multivariate regression techniques to impute missing values at the country level. (
  • The main technique used in this paper is econometric least squares regression analysis, which enables computation of the relative strength of proposed alternative and independent causal factors in determination of the dependent variable, temperature change. (
  • Provides high-performance procedures for loss modeling, count data regression, compound distribution, Copula simulation, panel regression, and censored and truncated regression models. (
  • In statistics , the Gauss-Markov theorem (or simply Gauss theorem for some authors) [1] states that the ordinary least squares (OLS) estimator has the lowest sampling variance within the class of linear unbiased estimators , if the errors in the linear regression model are uncorrelated , have equal variances and expectation value of zero. (
  • For time series modeling and analysis, the toolbox includes univariate Bayesian linear regression, univariate ARIMAX/GARCH composite models with several GARCH variants, multivariate VARX models, and cointegration analysis. (
  • A more formal treatment of multiple regression modeling and correlation was introduced in 1903 by Galton ' s friend Karl Pearson (1857-1936). (
  • The meaning of the β coefficient varies with the functional form of the regression model. (
  • Sometimes researchers choose the model with the highest R 2 , but the purpose of the regression analysis is to obtain the best model based on a theoretical concept or an empirically observed phenomena. (
  • Note that R 2 s of two different models are comparable only if the dependent variables and the number of observations are the same, because R 2 measures the fraction of the total variation in the dependent variable explained by the regression equation. (
  • Quantile regression is gradually emerging as a unified statistical methodology for estimating models of conditional quantile functions. (
  • Econometric Theory/What is Regression? (
  • In general, when you create a Bayesian linear regression model object, it specifies the joint prior distribution and characteristics of the linear regression model only. (
  • Number of predictor variables in the Bayesian multiple linear regression model, specified as a nonnegative integer. (
  • Flag for including a regression model intercept, specified as a value in this table. (
  • Exclude an intercept from the regression model. (
  • Include an intercept in the regression model. (
  • The two-variable regression model, multiple regression. (
  • Large Sample Properties of Generalized Method of Moments Estimators ," Econometrica , Econometric Society, vol. 50(4), pages 1029-1054, July. (
  • The applications of CLTs are to the asymptotic distribution of various estimators for several econometric models. (
  • Among the important additions are a more complete discussion of the Mundlak-Chamberlain approach to linear and nonlinear panel-data estimators, more thorough discussions of the control function approach to models with endogenous variables, estimators for many more nonlinear models, and a thorough rewrite of the chapter on estimating average treatment effects to reflect the latest research. (
  • However, it is also possible to use econometric models that are not tied to any specific economic theory. (
  • In: Carter R.A.L., Dutta J., Ullah A. (eds) Contributions to Econometric Theory and Application. (
  • Financial Econometric Modeling is an introductory text that meets the learning challenge of integrating theory, measurement, data, and software to understand the modern world of finance. (
  • Lastly, if the theory seems to make sense and the econometric model was not refuted on the basis of the hypothesis test, we can go on to use the theory for policy recommendation. (
  • Such regressors include linear (more generally, piece-wise polynomial) trends, seasonally oscillating functions, and slowly varying functions including logarithmic trends, as well as some specifications of spatial matrices in the theory of spatial models. (
  • To a degree not previously accomplished in a textbook, this masterful volume unifies econometric theory and modern approaches to its application. (
  • This category contains pages that are part of the Econometric Theory book. (
  • with Franklin Allen) "Game Theory Models in Finance," in Game Theory and Business Applications , edited by Chatterjee and Samuelson. (
  • Tom 113 Econometric and Statistical Theory. (
  • RAND Europe employs more than a dozen distinguished economists who support research projects across all sectors and topic areas, using a range of economic and econometric methods. (
  • In our previous post, Econometric and statistical methods for spatial data analysis, we discussed the importance of spatial data. (
  • Now in its second edition, this bestselling textbook offers a comprehensive course in empirical research methods, teaching the probabilistic and statistical foundations that enable the specification and validation of statistical models, providing the basis for an informed implementation of statistical procedure to secure the trustworthiness of evidence. (
  • The authors of Econometric Foundations are to be congratulated for their comprehensive and clear presentation of old and new econometric methods along with many interesting and relevant applications. (
  • Copula methods and compound distribution modeling let you model multivariate dimensions of risk factors. (
  • The issues of economic modelling and methods of solving dynamic models are beyond the scope of the current essay. (
  • It also provides methods for modeling economic systems using state-space models and for estimating using the Kalman filter. (
  • Use Engle-Granger and Johansen methods for cointegration testing and modeling. (
  • Analysis of variance (ANOVA) represents a set of models that can be fit to data, and also a set of methods for summarizing an existing fitted model. (
  • For instance, a whole new area of population genetic modeling ( 8 , 10 ) has been explored thanks to the availability of such methods. (
  • Residual methods-such as trade gap analyses, comparisons of self-reported consumption and tax-paid sales, and econometric modeling-combine two or more sources of data on the illicit and licit markets to infer the scale of the illicit market. (
  • 6 Econometric and Mathematical Methods. (
  • A forecast produced by an econometric model is a weighted aggregate of predetermined variables in the model. (
  • Against this background, the estimated econometric models assume that technological inventiveness (for which the proxy is patent activity) is a function of past patent activity, US aggregate R&D expenditures, the rate of growth in real GDP, the overall US unemployment rate and includes antitrust enforcement variables (civil, criminal and total antitrust filings). (
  • In response to this, an econometric model of the aggregate U.S. pallet market was developed. (
  • Modelling Economic Series: Readings in Econometric Methodology. (
  • OxMetrics developer Prof. Sir David Hendry and Dr. Jennifer Castle discuss "An improved approach to empirical modelling" in this article in the CEPR's VOX online platform. (
  • A simple dynamic model that provided an adequate fit to the data is given as follows: Patent Successt = 20736 + 0.48 Patent Successt-1 + 0.24 US R&Dt + 643 Real GDP Growtht - 1991 US Unemployment Ratet + 308 Civil Antitrust Cases Filedt-1.The empirical results show that civil case filings have a statistically significant impact on technological inventiveness. (
  • We have proposed empirical models with both firm-specific factors and technological regime indicators. (
  • However, the well-established statistical method of empirical likelihood provides another route to such settings that bypasses simulations from the model and the choices of the approximate Bayesian computation parameters (summary statistics, distance, tolerance), while being convergent in the number of observations. (
  • - This well known text helps students understand the art of model building - what type of model to build, building the appropriate model, testing it statistically, and applying the model to practical problems in forecasting and analysis. (
  • Timberlake started in 1982 and is a global total solutions provider of statistical, econometric and forecasting software packages, training courses and consultancy services. (
  • With a view to forecasting the development of small oil and gas enterprises built production function of Cobb-Douglas and selected econometric model, has good predictive properties. (
  • Each chapter is a how-to guide that takes readers from ideas and theories through to the practical realities of modeling, interpreting, and forecasting financial data. (
  • Forecasting Inflation in Tunisia into instability: Using Dynamic Factors Model a two-step based on Kalman filtering. (
  • Scenarios of economic development in Romania - medium to long-term forecasting models. (
  • Forecasting seasonality in prices of potatoes and onions: challenge between geostatistical models, neuro fuzzy approach and Winter method. (
  • The authors describe the key features of a new large-scale Canadian macroeconomic forecasting model developed over the past two years at the Bank of Canada. (
  • Our econometric capabilities, time series analysis and time series forecasting techniques can help you understand those factors and improve your strategic and tactical planning. (
  • Enables linear state space modeling and forecasting of time series and longitudinal data, with enhanced capabilities for analyzing panel data. (
  • You can select and estimate economic models for simulation and forecasting. (
  • This working paper describes the new version of MODTRIM II, the FPB's quarterly macroeconomic model for short-term forecasting. (
  • The Men's Autumn-Winter 2018 econometric modeling and is the icssdmPeters and brands on its nice failure. (
  • The effects of the Danish saturated fat tax on food and nutrient intake and modelled health outcomes: an econometric and comparative risk assessmen. (
  • The effects of the Danish saturated fat tax on food and nutrient intake and modelled health outcomes: an econometric and comparative risk assessment evaluation. (
  • Modelling the effect of the changes in diet on health outcomes suggests that the saturated fat tax made a positive, but minor, contribution to public health in Denmark. (
  • Model risk factors and predict economic outcomes. (
  • From a modeling perspective, findings from Figure 1 suggest that the data might contain a spatial dependence, which needs to be accounted for in the analysis. (
  • For instance, in 1965, David Cass and Tjalling Koopmans integrated Frank Ramsey's analysis of consumer optimization, thereby endogenizing the saving rate , to create what is now known as the Ramsey-Cass-Koopmans model . (
  • The second edition of Econometric Analysis of Cross Section and Panel Data , by Jeffrey Wooldridge, is invaluable to students and practitioners alike, and it should be on the shelf of all students and practitioners who are interested in microeconometrics. (
  • Econometric analysis / William H. Greene. (
  • Econometric analysis of health data/ edited by Andrew M. Jones and Owen O'Donnell. (
  • Econometric analysis of the factors influencing forest acreage trends in the southeast. (
  • We conducted a meta-analysis on 64 econometric models from 47 studies predicting forestland conversion to agriculture (F2A), forestland to development (F2D), forestland to non-forested (F2NF) and undeveloped (including forestland) to developed (U2D) land. (
  • The book analyses three basic areas of time series analysis: univariate models, multivariate models, and non-linear models. (
  • Model, forecast and simulate processes with econometric and time series analysis. (
  • Enables time series cross-sectional analysis and spatial econometric models for cross-sectional data where observations are spatially referenced or georeferenced. (
  • After a detailed introduction to general state space models, this book focuses on dynamic linear models, emphasizing their Bayesian analysis. (
  • Correlated data analysis: modeling, analytics, and applications. (
  • Analysis of variance (ANOVA) is a statistical procedure for summarizing a classical linear model - a decomposition of sum of squares into a component for each source of variation in the model - along with an associated test (the F -test) of the hypothesis that any given source of variation in the model is zero. (
  • When formulated as a statistical model, analysis of variance refers to an additive decomposition of data into a grand mean, main effects, possible interactions and an error term. (
  • We would expect the F -ratio to be less than 1 only in unusual models with negative within-group correlations (for example, if the data y have been renormalized in some way, and this had not been accounted for in the data analysis). (
  • Specifically, to incorporate data into the model for posterior distribution analysis and feature selection, pass the model object and data to the appropriate object function . (
  • Approximate Bayesian computation has become an essential tool for the analysis of complex stochastic models when the likelihood function is numerically unavailable. (
  • Time-series analysis creates a mathematical model to fit a series of dynamic observations to forecast future behavior on the basis of retrospective behavior. (
  • Gradojevic N. , Erdemlioglu D., Gencay R. (2020), A new wavelet-based ultra-high-frequency analysis of triangular currency arbitrage, Economic Modelling , 85, pp. 57-73. (
  • After conducting a computer model analysis of the electric power industry and six case studies of other industrial sectors, EPA concluded that the equipment replacement provision would have little impact on future emissions. (
  • Further, econometricians generally assume that the disturbance term, which is an influence of innumerably many factors not accounted for in the model, approaches normality according to the Central Limit Theorem. (
  • This book investigates the determinants of food and agricultural trade flows of European countries using various econometric approaches. (
  • Bayesian Generalized Linear Mixed Effects Models Using Normal-Independent Distributions: Formulation and Applications. (
  • Censored and truncated models also allow for Bayesian estimation. (
  • De-spite the popularity of Bayesian VAR models, there is a considerable gap between specialized Bayesian and accessible, all-purpose implementations. (
  • The Sensitivity of Fiscal Policy Effects to Assumptions about the Behavior of the Federal Reserve ," Econometrica , Econometric Society, vol. 46(5), pages 1165-1179, September. (
  • For such commercial purposes contact the Office of the Econometric Society (contact information may be found at the website or in the back cover of Econometrica). (
  • The Modelling of Multivariate Economic Time Series: 12. (
  • This study assessed farmers' perception of climate change, estimated the determinants of, and evaluated the relationship among adaptation practices using the multivariate probit model. (
  • We use this data set to demonstrate the modeling capabilities of the SPATIALREG procedure and to understand the impact of household income, crime rate, and education attainment on home values. (
  • PROC SPATIALREG enables you to analyze the data by using a variety of spatial econometric models. (
  • Every chapter follows the same principle ensuring that all results reported in the book may be reproduced using standard econometric software packages such as Stata or EViews, with a full set of data and programs provided to ensure easy implementation. (
  • [2] [3] Solow's model fitted available data on US economic growth with some success. (
  • Activities associated with the design and maintenance of econometric models that are used to produce estimates of labour market indicators in the countries and years for which no real data exist. (
  • To address the problem of missing data, the ILO Trends Unit has designed and actively maintains three econometric models which are used to produce estimates of labour market indicators in the countries and years for which no real data exist. (
  • The first step in each model is to assemble known pieces of real information (i.e. every real data point) for each indicator in question. (
  • This is an important selection criterion when the models are run, because they are designed to use the relationship between the various labour market indicators and their macroeconomic correlates (such as per capita GDP, GDP growth rates, demographic trends and country and time dummy variables) in order to produce estimates of the labour market indicators where no data exist. (
  • Thus, the comparability of the labour market data that are used as inputs in the imputation models is essential to ensure that the models accurately capture the relationship between the labour market indicators and the macroeconomic variables. (
  • It provedes the necessary econometric tools and answers, while outlining the difficulties in data analyses. (
  • Econometric models of changes in land use acreages in the Southeast by physiographic region have been developed by pooling cross-section and time series data. (
  • The results of our count data models show that entrepreneurial activity increases the innovation output and the sectorial-specific variables have an impact on patent application. (
  • Identify and test time series models for financial and econometric data. (
  • If, for example, each treatment x airport condition were replicated three times, then the 120 data points could be modelled as y ijk = μ + α i + β j + γ ij + ε ijk , with two sets of main effects, a two-way interaction, and an error term. (
  • The authors estimate an econometric model of high-quality enlistment supply using geographically disaggregated data from two periods, FY83-87 and FY90-93. (
  • They find that econometric models based on data from the earlier period do not predict the recruiting difficulties reported by the military in the 1990s. (
  • The authors also find that econometric models estimated with the 1990s data give altered counsel about the effects of at least some policy variables, most notably the number of recruiters. (
  • must be the same as the number of columns in your predictor data, which you specify during model estimation or simulation. (
  • A data query system including a first storage medium including a data schema having a data schema query language associated therewith, a second storage medium including an ontology model including classes and properties, the ontology model having an ontology query language associated therewith, wherein. (
  • 2. The ontology modeling system of claim 1 further comprising at least one data construct for assigning a minimum number of elements and a maximum number of elements to said multi-valued properties. (
  • 7. The ontology modeling system of claim 1 , wherein the multi-valued properties are used for embedding data schema into an ontology model, for schema that include constructs that can include more than one data element. (
  • The fundamental reason for this difficulty with population genetics is that the statistical model associated with coalescent data needs to integrate over trees of high complexity. (
  • Since economic models consist of a set of simultaneous equations generating nonexperimental data, the equations of the model must be identified prior to statistical estimation. (
  • 1. INTRODUCTION A PARTIALLY IDENTIFIED MODEL is any model in which the parameter of interest is not uniquely defined by the distribution of the observed data. (
  • Econometric Modeling as Information Aggregation ," Cowles Foundation Discussion Papers 833R, Cowles Foundation for Research in Economics, Yale University, revised Jan 1988. (
  • Econometric Model of the Czech Life Insurance Market ," Prague Economic Papers , University of Economics, Prague, vol. 2015(2), pages 173-191. (
  • Specialist in asset pricing, household finance, and volatility modelling, Laurent Calvet joined the EDHEC Business School faculty in 2016 as a professor of Finance. (
  • in June 1990 the XLI model forecasted a .4% (annual rate) decline in the experimental coincident index from June through September. (
  • published as "Comparing Information in Forecasts from Econometric Models. (
  • He is also the co-author with Daniel Rubinfield of "Econometric Models and Economic Forecasts," a best-selling textbook that may or may not be turned into a feature film. (
  • He is the co-author (with Robert Pindyck) of "Econometric Models and Economic Forecasts," and expects to play the lead in the film version of the book. (
  • Using one-day-ahead VaR forecasts for 5 highly liquid constituents of the S&P500 index from different industrial sectors, we compare performances of the benchmark GARCH model with skewed generalized Student's innovations with a set of models allowing for time-varying asymmetry and kurtosis such as ARCD-type models with normal inverse gaussian and skewed generalized Student's errors. (
  • An Application of Some Curve-Crossing Results for Stationary Stochastic Processes to Stochastic Modelling of Metal Fatigue. (
  • An econometric model then is a set of joint probability distributions to which the true joint probability distribution of the variables under study is supposed to belong. (
  • Econometricians generally take for granted that the error terms in the econometric models are generated by distributions having a finite variance. (
  • Perform Monte Carlo simulations to generate forecast distributions of both single and multiple time series models. (
  • The method is illustrated using several examples, including estimation of standard distributions, time series, and population genetics models. (
  • The most common econometric models are structural, in that they convey causal and counterfactual information, and are used for policy evaluation. (
  • A recursive econometric model with causal flow originating from the demand relationship is used to analyze the effects of exogenous variables on quantity and price of hardwood lumber. (
  • Structural factor equation models for causal network construction via directed acyclic mixed graphics. (
  • Econometric Foundations establishes a new paradigm for teaching econometric problems to talented upper-level undergraduates, graduate students, and professionals. (
  • This text, CD-ROM, and electronic guide package make Econometric Foundations the most up-to-date and comprehensive learning resource available. (
  • the authors are not shy of including the software code directly into the body of the text where they wish to emphasize the ease of applicability of the procedures discussed.Econometric Foundations has a bold, novel perspective that is often rewarding. (
  • WIth all the sophisticated econometric instrumental variable, etc. routines in Stata, I wonder if there is one already there that essentially does the same thing as Wulfsohn-Tsiatis, but is hiding behind some econometric name or terminology. (
  • One of the new features in Stata 15 is spatial autoregressive models. (
  • Matrix Algebra is the first volume of the Econometric Exercises Series. (
  • ROBERT S. PINDYCK is the Mitsubishi Bank Professor in Economics and Finance in the Sloan School of Management at M.I.T. He is also a Research Associate of the National Bureau of Economic Research, and a Fellow of the Econometric Society, and has been a Visiting Professor of Economics at Tel-Aviv University. (
  • The Solow-Swan model is an economic model of long-run economic growth set within the framework of neoclassical economics . (
  • With its selection of articles, the book presents an overview of advanced contributions to complexity in economics and social system, such as chaotic dynamics and multiple equilibria, agent-based models, applications of genetic algorithms, non-equilibrium macro-dynamics, information transmission, learning mechanisms. (
  • A. M. N. Masih and R. Masih, "Energy Consumption, Real Income and Temporal Causality: Results from Multi-Country Study Based on Cointegration and Error-Correction Modeling Techniques," Energy Economics, Vol. 18, No. 3, 1996, pp. 165-183. (
  • I come from a statistics background ( but I happen to be using/working on an econometric model ) so to me, an econometric model is not different from a statistical model except in the fact that the variables usually happen to be related to economics. (
  • In fact, in the model I'm working on, the variables are not related to economics. (
  • I'm using an econometric model in a non-economics application so I would argue that econometric models are really just statistical models. (
  • State space models have gained tremendous popularity in recent years in as disparate fields as engineering, economics, genetics and ecology. (
  • Based on two lectures presented as part of The Stone Lectures in Economics series, Arnold Zellner describes the structural econometric. (
  • Two-stage weighted least squares estimator of the conditional mean of observation-driven time series models. (
  • This part of the dictionary comments on English econometric terms estimator, quantile , nested, marginal, and some others. (
  • This book serves as a comprehensive source of asymptotic results for econometric models with deterministic exogenous regressors. (
  • The model assumes productivity shocks and "trade shocks", modeled as exogenous shifts in a country's local spending bias. (
  • Econometric Evaluation of Linear Macro-Economic Models ," Review of Economic Studies , Oxford University Press, vol. 53(4), pages 671-690. (
  • Here, we assume that the mathematical model is correct but we need to account for the fact that it may not be so. (
  • A mathematical implication of the model (assuming poor countries have not yet reached their steady state). (
  • To date, mathematical modeling has predicted that the effect of antimicrobial prescribing patterns in an outbreak situation is likely to be slight ( 9 ). (
  • Because of the spatial dependence in homeValue, a good candidate model to consider might be a spatial autoregressive (SAR) model for its ability to accommodate the endogenous interaction effect. (
  • Among the models discussed are static linear models with slowly varying regressors, spatial models, time series autoregressions, and two nonlinear models (binary logit model and nonlinear model whose linearization contains slowly varying regressors). (
  • To evaluate impacts of solar geoengineering and greenhouse gas-driven climate change on equal terms, we apply macroeconomic impact models that have been widely applied to climate change impacts assessment. (
  • Econometric Modelling of Antitrust Environment and Patent Activity, in Zerger, A. and Argent, R.M. (ed), MODSIM 2005 International Congress on Modelling and Simulation, Dec 12 2005, pp. 907-913. (
  • Melbourne, Australia: Modelling and Simulation Society of Australia and New Zealand. (
  • Provides a variety of means for modeling business processes within what-if and Monte Carlo simulation analyses. (
  • An econometric model can be derived from a deterministic economic model by allowing for uncertainty, or from an economic model which itself is stochastic. (
  • The resultant changes in dietary quality are then used as inputs into a comparative risk assessment model (PRIME (Preventable Risk Integrated ModEl)) to estimate the effect of these changes on non-communicable diseases (NCDs) and mortality. (
  • All the models are estimated using the EViews 4.0 econometric software package. (
  • WHO HQ Library catalog › Results of search for 'su:{Models, Econometric. (
  • A standard Solow model predicts that in the long run, economies converge to their steady state equilibrium and that permanent growth is achievable only through technological progress. (
  • The objective of this working paper is not to provide a complete description of the model, but to focus on the specification and estimation results of the behavioural equations. (
  • Namely, technical-actuarial links among insurance variables observed in annually published summary balance sheets of life insurers are described by means of an econometric system of linear simultaneous equations. (
  • This paper is an attempt to survey the literature on LAD estimation of single as well as multi-equation linear econometric models. (
  • 1.9 The Linear Model. (
  • 1. Complex dynamics in non-linear aggregated models. (
  • Fisher 1925 ) and then discuss how ANOVA has been extended to generalized linear models and multilevel models. (
  • Capital and Risk Revisited: A Structural Equation Model Approach for Life Insurers ," Journal of Risk & Insurance , The American Risk and Insurance Association, vol. 74(3), pages 653-681. (
  • This course enables you to gain an understanding of the principles of econometric modelling and how this approach is used to calculate ROI of marketing activities. (
  • otherwise it is a nonparametric or semiparametric model. (
  • Statistical models can characterize relationships among aspects of economic behavior, and comprehensive econometric models are often used to guide public policy decisions. (
  • About 50% of economists subscribe to the opinion that economic models are but a statistical models. (
  • Some venture to go as far as stating that it is a parsimonious way of encoding a set of statistical models, one for each instantiation of the parameters. (
  • In many models the number of predetermined variables used is very large, often exceeding the number of observations. (
  • A method is proposed in this paper for testing an econometric model as an aggregator of the information in these predetermined variables relative to a specified subset of them. (
  • The test, called the 'information aggregation' (IA) test, tests whether the model makes effective use of the information in the predetermined variables or whether a smaller information set carries as much information. (
  • ref. 9 validates a conditional version of ABC that applies to hierarchical Bayes models in a wide generality. (
  • applications of time-series models). (
  • On an integer-valued stochastic intensity model for time series of counts. (
  • We present a method for estimating Markov dynamic models with unobserved state variables which can be serially correlated over time. (
  • This book clearly distinguishes itself from its competitors by emphasising the techniques of time series modelling rather than technical aspects such as estimation, and by the breadth of the models considered. (
  • The Modelling of Univariate Economic Time Series: 5. (
  • Nonlinear Time Series Models: 15. (
  • Build on time varying volatility models. (
  • Furthermore, bypassing model simulations may lead to significant time savings in complex models, for instance those found in population genetics. (

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