Suchergebnisse

1. Economic Methodology and Econometrics -- 2. Statistical Decision Theory -- 3. Econometric Model Selection Procedures: A Survey -- 4. Set of Spherical Models -- 5. Set of More Informative Models -- 6. AVE and Acord Criteria. A New Proposal -- 7. Dynamic Models-1 -- 8. Dynamic Models-2 -- References.

This volume, a sequel to Econometric Models of Asian Link, is a unique compilation of up-to-date macro-econometric models of Asian-Pacific countries. It provides models of Japan, the United States, Canada, China, Korea, Taiwan, Hong Kong, Thailand, the Philippines, Malaysia, Singapore, Indonesia, Australia, and the European Community. The models of China, Australia, and Canada offered here are made available to the general reader for the first time. Moreover, all the models presented here are actually being used for prediction and policy-making in the respective countries, often by their governments. In addition, the authors present their analyses of the effects of various policies on the economies of the Asian-Pacific region. The statistical data which are also provided with almost all the models enable the reader to examine policy alternatives and draw independent conclusions. This volume will therefore be of invaluable help not only as a comprehensive source of econometric models but also as a guide-book for studies on the development of Asian-Pacific countries ingraduate courses and government planning offices

In this paper we review the existing empirical literature on price asymmetries in commodities, providing a way to classify and compare different studies which are highly heterogeneous in terms of econometric models, type of asymmetries and empirical findings. Relative to the previous literature, this paper is novel in several respects. First, it presents a detailed and updated survey of the existing empirical contributions on the existence of price asymmetries in the transmission mechanism linking input prices to output prices. Second, this paper presents an extension of the traditional distinction between long-run and short-run asymmetries to new categories of asymmetries, such as: contemporaneous impact, distributed lag effect, cumulated impact, reaction time, equilibrium and momentum equilibrium adjustment path, regime effect, regime equilibrium adjustment path. Third, each empirical study is critically discussed in the light of this new classification of asymmetries. Fourth, this paper evaluates the relative merits of the most popular econometric models for price asymmetries, namely autoregressive distributed lags, partial adjustments, error correction models, regime switching and vector autoregressive models.

I: Qualitative Analysis -- 1. Qualitative Structural Analysis: Game or Science? -- 2. Two Approaches in Reading Model Interdependencies -- 3. Reading Macroeconomic Models and Building Causal Structures -- 4. Structural Analysis, Hierarchical Functions, and Poor Structures -- 5. Rationing and Aggregation in a Multi-level Model of Household Behaviour: the SABINE model -- II: Quantitative Analysis -- 6. Semi-reduced Forms of Econometric Models -- 7. The Dynamics of a Discrete Version of a Growth Cycle Model -- 8. The Structure of Rational Expectations Behaviour in Economics: an empirical view -- 9. The Disequilibrium Theory in Macroeconomic Models: a small scale model -- 10. The Monetary Sector of the Netherlands in 50 Equations -- 11. Specification of the Import Function and the Determination of Short and Long Term Equilibria in Macroeconomic Models -- 12. An Alternative to Debreu's Dated and Located Commodities.

This paper traces the history of Japan's macroeconometric model-building. The history has gone through three stages -- learning, practice, and maturity. World War II left Japan intellectually much behind the West. The economics profession was no exception. It had to learn Keynesian macroeconomic theory and econometrics almost from scratch. Efforts at model-building started in the mid-1950s. The learning stage ran into the early 1960s. Then, in 1964, the Japanese government inducted young econometricians for help to its national plan-making. Short-term, medium-term, and long-term models provided the base for econometric predictions in the national plan. Having gained enough on-the-job experiences in the stage of practice, Japanese econometricians embarked upon building a model after another in the 1970s. The paper takes an inventory of some 40 macroeconometric models which have been and are still currently active in Japan.

This Element discusses how shiny, an R package, can help instructors teach quantitative methods more effectively by way of interactive web apps. The interactivity increases instructors' effectiveness by making students more active participants in the learning process, allowing them to engage with otherwise complex material in an accessible, dynamic way. The Element offers four detailed apps that cover two fundamental linear regression topics: estimation methods (least squares, maximum likelihood) and the classic linear regression assumptions. It includes a summary of what the apps can be used to demonstrate, detailed descriptions of the apps' full capabilities, vignettes from actual class use, and example activities. Two other apps pertain to a more advanced topic (LASSO), with similar supporting material. For instructors interested in modifying the apps, the Element also documents the main apps' general code structure, highlights some of the more likely modifications, and goes through what functions need to be amended.