Empirical Modeling In Economics
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Empirical Modeling In Economics
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Author : Clive W. J. Granger
language : en
Publisher: Cambridge University Press
Release Date : 1999-09-30
Empirical Modeling In Economics written by Clive W. J. Granger and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-09-30 with Business & Economics categories.
Lucid account of the process of constructing and evaluating an empirical model.
Empirical Modeling In Economics
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Author : C. W. J. Granger
language : en
Publisher:
Release Date : 1999
Empirical Modeling In Economics written by C. W. J. Granger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Econometrics categories.
Empirical Modeling In Economics
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Author : Clive William John Granger
language : en
Publisher:
Release Date : 1999
Empirical Modeling In Economics written by Clive William John Granger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Econometrics categories.
Handbook Of Empirical Economics And Finance
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Author : Aman Ullah
language : en
Publisher: CRC Press
Release Date : 2016-04-19
Handbook Of Empirical Economics And Finance written by Aman Ullah and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-19 with Mathematics categories.
Handbook of Empirical Economics and Finance explores the latest developments in the analysis and modeling of economic and financial data. Well-recognized econometric experts discuss the rapidly growing research in economics and finance and offer insight on the future direction of these fields. Focusing on micro models, the first group of chapters describes the statistical issues involved in the analysis of econometric models with cross-sectional data often arising in microeconomics. The book then illustrates time series models that are extensively used in empirical macroeconomics and finance. The last set of chapters explores the types of panel data and spatial models that are becoming increasingly significant in analyzing complex economic behavior and policy evaluations. This handbook brings together both background material and new methodological and applied results that are extremely important to the current and future frontiers in empirical economics and finance. It emphasizes inferential issues that transpire in the analysis of cross-sectional, time series, and panel data-based empirical models in economics, finance, and related disciplines.
Empirical Models And Policy Making
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Author : Mary Morgan
language : en
Publisher: Routledge
Release Date : 2003-09-02
Empirical Models And Policy Making written by Mary Morgan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-02 with Business & Economics categories.
This collection, written by highly-placed practitioners and academic economists, provides a picture of how economic modellers and policy makers interact. The book provides international case studies of particular interactions between models and policy making, and argues that the flow of information is two-way.
Model Building In Economics
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Author : Lawrence A. Boland
language : en
Publisher: Cambridge University Press
Release Date : 2014
Model Building In Economics written by Lawrence A. Boland and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Econometric models categories.
Concern about the role and the limits of modeling has heightened after repeated questions were raised regarding the dependability and suitability of the models that were used in the run-up to the 2008 financial crash. In this book, Lawrence Boland provides an overview of the practices of and the problems faced by model builders to explain the nature of models, the modeling process, and the possibility for and nature of their testing. In a reflective manner, the author raises serious questions about the assumptions and judgments that model builders make in constructing models. In making his case, he examines the traditional microeconomics-macroeconomics separation with regard to how theoretical models are built and used and how they interact, paying particular attention to the use of equilibrium concepts in macroeconomic models and game theory and to the challenges involved in building empirical models, testing models, and using models to test theoretical explanations.
Empirical Modeling Of The Economy And The Environment
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Author : Christoph Böhringer
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Empirical Modeling Of The Economy And The Environment written by Christoph Böhringer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
ZhongXiang Zhang (East-West Center, Honolulu) uses a global model based on marginal abatement cost curves for 12 world regions to estimate the contributions of the three flexibility mechanisms under the Kyoto Protocol, i. e. emissions trading, joint implementation, and the clean development mechanism. He shows how the reduction in compliance costs of industrialized regions depends on the extent to which the flexibility mechanisms will be available. Not surprisingly, the fewer the restrictions on the use of flexibility mechanisms will be, the greater the gains from their use. These gains are unevenly distributed, however, with industrialized regions that have the highest autarkic marginal abatement costs tending to benefit the most. Restrictions on the use of flexibility mechanisms not only reduce the potential of the industrialized regions' efficiency gains, but are also not beneficial to developing countries since they restrict the total financial flows to developing countries under the clean development mechanism. Christoph Bohringer (ZEW, Mannheim), Glenn W. Harrison (University of South Carolina, Columbia), and Thomas F. Rutherford (University of Colorado, Boulder) evaluate the welfare implications of alternative ways in which the EU could distribute its aggregate emission reduction commitment under the Kyoto Protocol across member states. Using a large-scale CGE model, they compare a uniform proportional cutback in emissions and the actual EU burden sharing agreement with an equitable allocation scheme derived from an endogenous burden sharing calculation. The latter equalizes the relative welfare cost across member states.
Empirical Modeling Of Exchange Rate Dynamics
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Author : Francis X. Diebold
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Empirical Modeling Of Exchange Rate Dynamics written by Francis X. Diebold and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Structural exchange rate modeling has proven extremely difficult during the recent post-1973 float. The disappointment climaxed with the papers of Meese and Rogoff (1983a, 1983b), who showed that a "naive" random walk model distinctly dominated received theoretical models in terms of predictive performance for the major dollar spot rates. One purpose of this monograph is to seek the reasons for this failure by exploring the temporal behavior of seven major dollar exchange rates using nonstructural time-series methods. The Meese-Rogoff finding does not mean that exchange rates evolve as random walks; rather it simply means that the random walk is a better stochastic approximation than any of their other candidate models. In this monograph, we use optimal model specification techniques, including formal unit root tests which allow for trend, and find that all of the exchange rates studied do in fact evolve as random walks or random walks with drift (to a very close approximation). This result is consistent with efficient asset markets, and provides an explanation for the Meese-Rogoff results. Far more subtle forces are at work, however, which lead to interesting econometric problems and have implications for the measurement of exchange rate volatility and moment structure. It is shown that all exchange rates display substantial conditional heteroskedasticity. A particularly reasonable parameterization of this conditional heteroskedasticity, which captures the observed clustering of prediction error variances, is developed in Chapter 2.
Dynamic Econometrics For Empirical Macroeconomic Modelling
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Author : Ragnar Nymoen
language : en
Publisher: World Scientific
Release Date : 2019-07-09
Dynamic Econometrics For Empirical Macroeconomic Modelling written by Ragnar Nymoen and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-09 with Business & Economics categories.
For Masters and PhD students in EconomicsIn this textbook, the duality between the equilibrium concept used in dynamic economic theory and the stationarity of economic variables is explained and used in the presentation of single equations models and system of equations such as VARs, recursive models and simultaneous equations models.The book also contains chapters on: exogeneity, in the context of estimation, policy analysis and forecasting; automatic (computer based) variable selection, and how it can aid in the specification of an empirical macroeconomic model; and finally, on a common framework for model-based economic forecasting.Supplementary materials and notes are available on the publisher's website.
Empirical Model Discovery And Theory Evaluation
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Author : David F. Hendry
language : en
Publisher: MIT Press
Release Date : 2014-07-03
Empirical Model Discovery And Theory Evaluation written by David F. Hendry and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-03 with Business & Economics categories.
A synthesis of the authors' groundbreaking econometric research on automatic model selection, which uses powerful computational algorithms and theory evaluation. Economic models of empirical phenomena are developed for a variety of reasons, the most obvious of which is the numerical characterization of available evidence, in a suitably parsimonious form. Another is to test a theory, or evaluate it against the evidence; still another is to forecast future outcomes. Building such models involves a multitude of decisions, and the large number of features that need to be taken into account can overwhelm the researcher. Automatic model selection, which draws on recent advances in computation and search algorithms, can create, and then empirically investigate, a vastly wider range of possibilities than even the greatest expert. In this book, leading econometricians David Hendry and Jurgen Doornik report on their several decades of innovative research on automatic model selection. After introducing the principles of empirical model discovery and the role of model selection, Hendry and Doornik outline the stages of developing a viable model of a complicated evolving process. They discuss the discovery stages in detail, considering both the theory of model selection and the performance of several algorithms. They describe extensions to tackling outliers and multiple breaks, leading to the general case of more candidate variables than observations. Finally, they briefly consider selecting models specifically for forecasting.