The Failure Of Econometrics
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The Failure Of Econometrics
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Author : Erich W. Streissler
language : en
Publisher:
Release Date : 1970
The Failure Of Econometrics written by Erich W. Streissler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1970 with Business cycles categories.
The Failure Of Econometrics
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Author : E. W. Streissler
language : en
Publisher:
Release Date : 1983-08-01
The Failure Of Econometrics written by E. W. Streissler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983-08-01 with categories.
The Failure Of Econometrics
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Author : E. W. Streissler
language : en
Publisher:
Release Date : 1985-09-01
The Failure Of Econometrics written by E. W. Streissler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985-09-01 with categories.
Doomed Firms
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Author : P.J. Cybinski
language : en
Publisher: Routledge
Release Date : 2018-12-13
Doomed Firms written by P.J. Cybinski and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-13 with Business & Economics categories.
This title was first published in 2003. This book provides a much-needed comprehensive and up-to-date treatise on financial distress modelling. Since many of the challenges facing researchers of financial distress can only be addressed by a totally new research design and modelling methodology, this book concentrates on extending the potential for bankruptcy analysis from single-equation modelling to multi-equation analysis. Essentially, the work provides an innovative new approach by comparing each firm with itself over time rather than testing specific hypotheses or improving predictive and classificatory accuracy. Added to this new design, a whole new methodology - or way of modelling the process - is applied in the form of a family of models of which the traditional single equation logit or MDA models is just a special case. Preliminary two-equation and three-equation models are presented and tested in the final chapters as a taste of things to come. The groundwork for a full treatise on these sorts of multi-equation systems is laid for further study - this family of models could be used as a basis for more specific applications to different industries and to test hypotheses concerning influential variables to bankruptcy risk.
Market Failure Government Failure Leadership And Public Policy
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Author : B. Dollery
language : en
Publisher: Springer
Release Date : 1999-07-19
Market Failure Government Failure Leadership And Public Policy written by B. Dollery and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-07-19 with Business & Economics categories.
A global wave of reform is fundamentally reshaping the role of the state in national economies. This book provides a fresh and accessible perspective on the political economy of this megatrend. It traces the theoretical roots of the reforms to developments in public economics which emphasize problems of government rather than market failure. It then breaks new ground in developing an economic theory of leadership to explain how policy leadership networks can strive to influence the direction of reform processes.
The Econometrics Of Macroeconomic Modelling
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Author : Gunnar Bårdsen
language : en
Publisher: OUP Oxford
Release Date : 2005-04-14
The Econometrics Of Macroeconomic Modelling written by Gunnar Bårdsen and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-04-14 with Business & Economics categories.
Macroeconometric models, in many ways the flagships of the economist's profession in the 1960s, came under increasing attack from both theoretical economist and practitioners in the late 1970s. Critics referred to their lack of microeconomic theoretical foundations, ad hoc models of expectations, lack of identification, neglect of dynamics and non-stationarity, and poor forecasting properties. By the start of the 1990s, the status of macroeconometric models had declined markedly, and had fallen completely out of, and with, academic economics. Nevertheless, unlike the dinosaurs to which they often have been likened, macroeconometric models have never completely disappeared from the scene. This book describes how and why the discipline of macroeconometric modelling continues to play a role for economic policymaking by adapting to changing demands, in response, for instance, to new policy regimes like inflation targeting. Model builders have adopted new insights from economic theory and taken advantage of the methodological and conceptual advances within time series econometrics over the last twenty years. The modelling of wages and prices takes a central part in the book as the authors interpret and evaluate the last forty years of international research experience in the light of the Norwegian 'main course' model of inflation in a small open economy. The preferred model is a dynamic model of incomplete competition, which is evaluated against alternatives as diverse as the Phillips curve, Nickell-Layard wage curves, the New Keynesian Phillips curve, and monetary inflation models on data from the Euro area, the UK, and Norway. The wage price core model is built into a small econometric model for Norway to analyse the transmission mechanism and to evaluate monetary policy rules. The final chapter explores the main sources of forecast failure likely to occur in a practical modelling situation, using the large-scale nodel RIMINI and the inflation models of earlier chapters as case studies.
Getting It Wrong
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Author : William A. Barnett
language : en
Publisher: MIT Press
Release Date : 2011-12-16
Getting It Wrong written by William A. Barnett and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-16 with Business & Economics categories.
A leading economist contends that the recent financial crisis was caused not by the failure of mainstream economics but by corrupted monetary data constructed without reference to economics. Blame for the recent financial crisis and subsequent recession has commonly been assigned to everyone from Wall Street firms to individual homeowners. It has been widely argued that the crisis and recession were caused by “greed” and the failure of mainstream economics. In Getting It Wrong, leading economist William Barnett argues instead that there was too little use of the relevant economics, especially from the literature on economic measurement. Barnett contends that as financial instruments became more complex, the simple-sum monetary aggregation formulas used by central banks, including the U.S. Federal Reserve, became obsolete. Instead, a major increase in public availability of best-practice data was needed. Households, firms, and governments, lacking the requisite information, incorrectly assessed systemic risk and significantly increased their leverage and risk-taking activities. Better financial data, Barnett argues, could have signaled the misperceptions and prevented the erroneous systemic-risk assessments. When extensive, best-practice information is not available from the central bank, increased regulation can constrain the adverse consequences of ill-informed decisions. Instead, there was deregulation. The result, Barnett argues, was a worst-case toxic mix: increasing complexity of financial instruments, inadequate and poor-quality data, and declining regulation. Following his accessible narrative of the deep causes of the crisis and the long history of private and public errors, Barnett provides technical appendixes, containing the mathematical analysis supporting his arguments.
An Empirical Investigation Into The Causes Of The Failure Of The Monetary Model And The Exchange Rate
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Author : P. N. Smith
language : en
Publisher:
Release Date : 1984
An Empirical Investigation Into The Causes Of The Failure Of The Monetary Model And The Exchange Rate written by P. N. Smith and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Economics categories.
A well known characteristic of flexible exchange rates is their volatility, with result that their movement can be closely approximated by a random walk. One of the attractions of the monetary model of the exchange rate is its ability to offer an explanation of this volatility. A major drawback is that empirical tests of the exchange rate equation arising from the monetary model very often lead to rejection of the model. The blame for this is usually attributed to the breakdown of the purchasing power parity assumption. The main purpose of this paper is to attempt to provide measures of the relative importance of the likely principal causes of the failure of the monetary model. A second objective is to test the random walk hypothesis for exchange rates. The methodology employed is new and has wide application elsewhere. It involves explicitly modelling the misspecification by time series techniques. The results, which are for the sterling-United States Dollar and Deutschemark-United States Dollar exchange rates, confirm the importance of the breakdown of the PPP assumption but they also show that misspecification of the money market is equally important. Whilst a random walk model is found to provide a very good fit, it is shown that lagged information can be used to improve the explanation of the spot exchange rate and hence the random walk hypothesis can be rejected.
Modelling Our Changing World
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Author : Jennifer L. Castle
language : en
Publisher: Springer Nature
Release Date : 2019-08-30
Modelling Our Changing World written by Jennifer L. Castle and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-30 with Business & Economics categories.
This open access book focuses on the concepts, tools and techniques needed to successfully model ever-changing time-series data. It emphasizes the need for general models to account for the complexities of the modern world and how these can be applied to a range of issues facing Earth, from modelling volcanic eruptions, carbon dioxide emissions and global temperatures, to modelling unemployment rates, wage inflation and population growth. Except where otherwise noted, this book is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0.
Endogenous Growth Market Failures And Economic Policy
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Author : Martin Zagler
language : en
Publisher: Springer
Release Date : 1999-03-15
Endogenous Growth Market Failures And Economic Policy written by Martin Zagler and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-03-15 with Business & Economics categories.
Endogenous Growth, Market Failures and Economic Policy develops, within a rigorous formal framework, innovative and unconventional macroeconomic policy perspectives that can be deduced from the New Growth Theory in the presence of market imperfections, adopting the standard structure of fiscal, monetary and trade policy for the book. For instance, the introduction of monopolistic competition leads to positive growth effects of fiscal policy as well as protection of infant industries.