This book provides an economic and econometric analysis of real estate investment and real estate market behaviour. Peijie Wang examines fluctuations in the real estate business to reveal the mechanisms governing the interactions between the industry and other sectors of the economy.

This book contains the most complete set of the Chinese national income and its components based on system of national accounts. It points out some fundamental issues concerning the estimation of China's national income and it is intended to the students of the field of China study around the world.

Model a Wide Range of Count Time Series Handbook of Discrete-Valued Time Series presents state-of-the-art methods for modeling time series of counts and incorporates frequentist and Bayesian approaches for discrete-valued spatio-temporal data and multivariate data. While the book focuses on time series of counts, some of the techniques discussed can be applied to other types of discrete-valued time series, such as binary-valued or categorical time series. Explore a Balanced Treatment of Frequentist and Bayesian Perspectives Accessible to graduate-level students who have taken an elementary class in statistical time series analysis, the book begins with the history and current methods for modeling and analyzing univariate count series. It next discusses diagnostics and applications before proceeding to binary and categorical time series. The book then provides a guide to modern methods for discrete-valued spatio-temporal data, illustrating how far modern applications have evolved from their roots. The book ends with a focus on multivariate and long-memory count series. Get Guidance from Masters in the Field Written by a cohesive group of distinguished contributors, this handbook provides a unified account of the diverse techniques available for observation- and parameter-driven models. It covers likelihood and approximate likelihood methods, estimating equations, simulation methods, and a Bayesian approach for model fitting.

The major methodological task for modern economists has been to establish the testability of models. Too often, however, methodological assumptions can make a model virtually impossible to test even under ideal conditions, yet few theorists have examined the requirements and problems of assuring testability in economics. In The Methodology of Economic Model Building, first published in 1989, Lawrence Boland presents the results of a research project that spanned more than twenty years. He examines how economists have applied the philosophy of Karl Popper, relating methodological debates about falsifiability to wider discussions about the truth status of models in natural and social sciences. He concludes that model building in economics reflects more the methodological prescriptions of the economist Paul Samuelson than Popper's 'falsificationism'. This title will prove invaluable to both students and researchers, and represents a substantial contribution to current debates about the scientific status of economics.

* Includes many mathematical examples and problems for students to work directly with both standard and nonstandard models of behaviour to develop problem-solving and critical-thinking skills which are more valuable to students than memorizing content which will quickly be forgotten. * The applications explored in the text emphasise issues of inequality, social mobility, culture and poverty to demonstrate the impact of behavioral economics in areas which students are most passionate about. * The text has a standardized structure (6 parts, 3 chapters in each) which provides a clear and consistent roadmap for students taking the course.

This book covers diverse themes, including institutions and efficiency, choice and values, law and economics, development and policy, and social and economic measurement. Written in honour of the distinguished economist Satish K. Jain, this compilation of essays should appeal not only to students and researchers of economic theory but also to those interested in the design and evaluation of institutions and policy.

Contrary to much Marxist thought, Everling does not view socialism as an antithesis to capitalism, and argues that socialism is, among other things, an objective development of capitalism. As capitalism develops it creates the premises for social development which are also the bases for a socialist and democratic construction of society. Drawing on economics, urban geography, political theory and Marxism, Social Economy: * Examines the evolution of capitalism from its early industrial to its present urban and global forms * Shows how Marx understood the economy as a unity of production, distribution, exchange and consumption engaged in social reproduction * Explores the contradictory evolution of US corporations and urban development from 1945 to the present * Argues that urban space involves requirements for social and individual reproduction which extend well beyond limits inherent in transnational corporate private appropriation Using his unique arguments, Everling makes the case that economic expansion can now best be secured by forms of development that take us beyond the limits of capitalism and point towards a democratic and socialist society.

This volume gathers together key new contributions on the subject of the relationship, both empirical and theoretical, between economic oscillations, growth and structural change. Employing a sophisticated level of mathematical modelling, the collection contains articles from, amongst others, William Baumol, Katsuhito Iwai and William Brock.

A unique and comprehensive source of information, the International Yearbook of Industrial Statistics is the only international publication providing economists, planners, policy makers and business people with worldwide statistics on current performance and trends in the manufacturing sector.This is the first issue of the annual publication which succeeds the UNIDO's Handbook of Industrial Statistics and, at the same time, replaces the United Nation's Industrial Statistics Yearbook, volume I (General Industrial Statistics). Covering more than 120 countries/areas, the new version contains data which is internationally comparable and much more detailed than that supplied in previous publications. Information has been collected directly from national statistical sources and supplemented with estimates by UNIDO. The Yearbook is designed to facilitate international comparisons relating to manufacturing activity and industrial performance. It provides data which can be used to analyse patterns of growth, structural change and industrial performance in individual industries. Data on employment trends, wages and other key indicators are also presented. Finally, the detailed information presented here enables the user to study different aspects of industry which was not possible using the aggregate data previously available.

Introduction to Functional Data Analysis provides a concise textbook introduction to the field. It explains how to analyze functional data, both at exploratory and inferential levels. It also provides a systematic and accessible exposition of the methodology and the required mathematical framework. The book can be used as textbook for a semester-long course on FDA for advanced undergraduate or MS statistics majors, as well as for MS and PhD students in other disciplines, including applied mathematics, environmental science, public health, medical research, geophysical sciences and economics. It can also be used for self-study and as a reference for researchers in those fields who wish to acquire solid understanding of FDA methodology and practical guidance for its implementation. Each chapter contains plentiful examples of relevant R code and theoretical and data analytic problems. The material of the book can be roughly divided into four parts of approximately equal length: 1) basic concepts and techniques of FDA, 2) functional regression models, 3) sparse and dependent functional data, and 4) introduction to the Hilbert space framework of FDA. The book assumes advanced undergraduate background in calculus, linear algebra, distributional probability theory, foundations of statistical inference, and some familiarity with R programming. Other required statistics background is provided in scalar settings before the related functional concepts are developed. Most chapters end with references to more advanced research for those who wish to gain a more in-depth understanding of a specific topic.

This book provides an introduction to the use of statistical concepts and methods to model and analyze financial data. The ten chapters of the book fall naturally into three sections. Chapters 1 to 3 cover some basic concepts of finance, focusing on the properties of returns on an asset. Chapters 4 through 6 cover aspects of portfolio theory and the methods of estimation needed to implement that theory. The remainder of the book, Chapters 7 through 10, discusses several models for financial data, along with the implications of those models for portfolio theory and for understanding the properties of return data. The audience for the book is students majoring in Statistics and Economics as well as in quantitative fields such as Mathematics and Engineering. Readers are assumed to have some background in statistical methods along with courses in multivariate calculus and linear algebra.

Today, most money is credit money, created by commercial banks. While credit can finance innovation, excessive credit can lead to boom/bust cycles, such as the recent financial crisis. This highlights how the organization of our monetary system is crucial to stability. One way to achieve this is by separating the unit of account from the medium of exchange and in pre-modern Europe, such a separation existed. This new volume examines this idea of monetary separation and this history of monetary arrangements in the North and Baltic Seas region, from the Hanseatic League onwards. This book provides a theoretical analysis of four historical cases in the Baltic and North Seas region, with a view to examining evolution of monetary arrangements from a new monetary economics perspective. Since the objective exhange value of money (its purchasing power), reflects subjective individual valuations of commodities, the author assesses these historical cases by means of exchange rates. Using theories from new monetary economics , the book explores how the units of account and their media of exchange evolved as social conventions, and offers new insight into the separation between the two. Through this exploration, it puts forward that money is a social institution, a clearing device for the settlement of accounts, and so the value of money, or a separate unit of account, ultimately results from the size of its network of users. The History of Money and Monetary Arrangements offers a highly original new insight into monetary arrangments as an evolutionary process. It will be of great interest to an international audience of scholars and students, including those with an interest in economic history, evolutionary economics and new monetary economics.

The beginning of the age of artificial intelligence and machine learning has created new challenges and opportunities for data analysts, statisticians, mathematicians, econometricians, computer scientists and many others. At the root of these techniques are algorithms and methods for clustering and classifying different types of large datasets, including time series data. Time Series Clustering and Classification includes relevant developments on observation-based, feature-based and model-based traditional and fuzzy clustering methods, feature-based and model-based classification methods, and machine learning methods. It presents a broad and self-contained overview of techniques for both researchers and students. Features Provides an overview of the methods and applications of pattern recognition of time series Covers a wide range of techniques, including unsupervised and supervised approaches Includes a range of real examples from medicine, finance, environmental science, and more R and MATLAB code, and relevant data sets are available on a supplementary website

Mastering the basic concepts of mathematics is the key to understanding other subjects such as Economics, Finance, Statistics, and Accounting. Mathematics for Finance, Business and Economics is written informally for easy comprehension. Unlike traditional textbooks it provides a combination of explanations, exploration and real-life applications of major concepts.

Mathematics for Finance, Business and Economics discusses elementary mathematical operations, linear and non-linear functions and equations, differentiation and optimization, economic functions, summation, percentages and interest, arithmetic and geometric series, present and future values of annuities, matrices and Markov chains.

Aided by the discussion of real-world problems and solutions, students across the business and economics disciplines will find this textbook perfect for gaining an understanding of a core plank of their studies.

Are there distinct European traditions in economics? Is modern economics homogenous and American? The volume includes case studies of the UK, Sweden, the Netherlands, Belgium, Germany, France, Italy, Portugal, Spain and Greece. Each of these examines the conditions relating to the supply of, and demand for, economists. These include: the growth of higher education, the development of postgraduate training in economics, international linkages, both within Europe and outside it, economic ideas and professionalization, and involvement in economic policy-making and public affairs. Whilst each chapter is attentive to particular national features, they also place the development of economics in the context of the postwar movement towards European integration.

As communities in the United States and Europe confront shortages of disposal capacity, the growing solid waste stream increasingly threatens the environment.This important new book addresses a major policy question regarding the solid waste crisis: should municipalities charge households user fees for solid waste services? In her study of this issue, Professor Jenkins draws on a unique data set which relates the quantities of waste discarded and the prices charged to households for waste services in nine US communities. She thoroughly analyses the relationship between the quantity of waste that individuals discard and such socio-economic variables as household income, the age of individuals and the population density of the community. In addition she develops a utility maximization model that suggests that user fees do encourage people to recycle waste. Finally she provides simple instructions for forecasting the quantity of waste discarded by a particular community. This unique book will be essential reading not only for social scientists with an interest in the environment but also for government officials and community activists concerned with the solid waste crisis.

Understanding why so many people across the world are so poor is one of the central intellectual challenges of our time. This book provides the tools and data that will enable students, researchers and professionals to address that issue. Empirical Development Economics has been designed as a hands-on teaching tool to investigate the causes of poverty. The book begins by introducing the quantitative approach to development economics. Each section uses data to illustrate key policy issues. Part One focuses on the basics of understanding the role of education, technology and institutions in determining why incomes differ so much across individuals and countries. In Part Two, the focus is on techniques to address a number of topics in development, including how firms invest, how households decide how much to spend on their children's education, whether microcredit helps the poor, whether food aid works, who gets private schooling and whether property rights enhance investment. A distinctive feature of the book is its presentation of a range of approaches to studying development questions. Development economics has undergone a major change in focus over the last decade with the rise of experimental methods to address development issues; this book shows how these methods relate to more traditional ones. Please visit the book's website at www.empiricalde.com for online supplements including Stata files and solutions to the exercises.

The explosive growth of the credit risk industry is symbolic not only of the rapid expansion of finance into new and global markets, but is also representative of a widespread shift. The securitization of risk and, in particular, its transfer through the resulting credit derivatives, has dramatically changed the ways in which both the world economy and the finance industry work. This authoritative collection of key papers provides an overview of the subject from its beginnings through to current scholarship in this area. While the experienced investigator will find this anthology a convenient collection of essential papers, the student new to the field will be quickly taken to the front lines of research. Consequently, this collection will be of interest to historians, researchers, and students.

Maurice Potron (1872-1942), a French Jesuit mathematician, constructed and analyzed a highly original, but virtually unknown economic model. This book presents translated versions of all his economic writings, preceded by a long introduction which sketches his life and environment based on extensive archival research and family documents. Potron had no education in economics and almost no contact with the economists of his time. His primary source of inspiration was the social doctrine of the Church, which had been updated at the end of the nineteenth century. Faced with the 'economic evils' of his time, he reacted by utilizing his talents as a mathematician and an engineer to invent and formalize a general disaggregated model in which production, employment, prices and wages are the main unknowns. He introduced four basic principles or normative conditions ('sufficient production', the 'right to rest', 'justice in exchange', and the 'right to live') to define satisfactory regimes of production and labour on the one hand, and of prices and wages on the other. He studied the conditions for the existence of these regimes, both on the quantity side and the value side, and he explored the way to implement them. This book makes it clear that Potron was the first author to develop a full input-output model, to use the Perron-Frobenius theorem in economics, to state a duality result, and to formulate the Hawkins-Simon condition. These are all techniques which now belong to the standard toolkit of economists. This book will be of interest to Economics postgraduate students and researchers, and will be essential reading for courses dealing with the history of mathematical economics in general, and linear production theory in particular.

This is the first volume in a ten-volume set designed for publication in 1997. It reprints in book form a selection of the most important and influential articles on probability, econometrics and economic games which cumulatively have had a major impact on the development of modern economics. There are 242 articles, dating from 1936 to 1996. Many of them were originally published in relatively inaccessible journals and may not, therefore, be available in the archives of many university libraries. The volumes are available separately and also as a complete ten-volume set. The contributors include D. Ellsberg, R.M. Hogart, J.B. Kadane, B.O. Koopmans, E.L. Lehman, D.F. Nicholls, H. Rubin, T.J. Sarjent, L.H. Summers and C.R. Wymer. This particular volume deals with the foundations of probability, econometrics and economic games.

A ground-breaking book that reveals why our human biases affect the way we receive and interpret information

Our lives are minefields of misinformation. Stories, statistics and studies lie to us on a daily basis. Not only this but, as Professor Alex Edmans reveals, our brains lie to us too. He argues that we need to acknowledge and understand the role that our own human biases play in interpreting and digesting the information that we consume. It's only when we do, that we can actively resist being manipulated, and make informed decisions that improve our lives.

The major methodological task for modern economists has been to establish the testability of models. Too often, however, methodological assumptions can make a model virtually impossible to test even under ideal conditions, yet few theorists have examined the requirements and problems of assuring testability in economics. In The Methodology of Economic Model Building, first published in 1989, Lawrence Boland presents the results of a research project that spanned more than twenty years. He examines how economists have applied the philosophy of Karl Popper, relating methodological debates about falsifiability to wider discussions about the truth status of models in natural and social sciences. He concludes that model building in economics reflects more the methodological prescriptions of the economist Paul Samuelson than Popper's 'falsificationism'. This title will prove invaluable to both students and researchers, and represents a substantial contribution to debates about the scientific status of economics.

This book presents recent developments on the theoretical, algorithmic, and application aspects of Big Data in Complex and Social Networks. The book consists of four parts, covering a wide range of topics. The first part of the book focuses on data storage and data processing. It explores how the efficient storage of data can fundamentally support intensive data access and queries, which enables sophisticated analysis. It also looks at how data processing and visualization help to communicate information clearly and efficiently. The second part of the book is devoted to the extraction of essential information and the prediction of web content. The book shows how Big Data analysis can be used to understand the interests, location, and search history of users and provide more accurate predictions of User Behavior. The latter two parts of the book cover the protection of privacy and security, and emergent applications of big data and social networks. It analyzes how to model rumor diffusion, identify misinformation from massive data, and design intervention strategies. Applications of big data and social networks in multilayer networks and multiparty systems are also covered in-depth.

Now in its third edition, Essential Econometric Techniques: A Guide to Concepts and Applications is a concise, student-friendly textbook which provides an introductory grounding in econometrics, with an emphasis on the proper application and interpretation of results. Drawing on the author's extensive teaching experience, this book offers intuitive explanations of concepts such as heteroskedasticity and serial correlation, and provides step-by-step overviews of each key topic. This new edition contains more applications, brings in new material including a dedicated chapter on panel data techniques, and moves the theoretical proofs to appendices. After Chapter 7, students will be able to design and conduct rudimentary econometric research. The next chapters cover multicollinearity, heteroskedasticity, and autocorrelation, followed by techniques for time-series analysis and panel data. Excel data sets for the end-of-chapter problems are available as a digital supplement. A solutions manual is also available for instructors, as well as PowerPoint slides for each chapter. Essential Econometric Techniques shows students how economic hypotheses can be questioned and tested using real-world data, and is the ideal supplementary text for all introductory econometrics courses.

Showcasing fuzzy set theory, this book highlights the enormous potential of fuzzy logic in helping to analyse the complexity of a wide range of socio-economic patterns and behaviour. The contributions to this volume explore the most up-to-date fuzzy-set methods for the measurement of socio-economic phenomena in a multidimensional and/or dynamic perspective. Thus far, fuzzy-set theory has primarily been utilised in the social sciences in the field of poverty measurement. These chapters examine the latest work in this area, while also exploring further applications including social exclusion, the labour market, educational mismatch, sustainability, quality of life and violence against women. The authors demonstrate that real-world situations are often characterised by imprecision, uncertainty and vagueness, which cannot be properly described by the classical set theory which uses a simple true-false binary logic. By contrast, fuzzy-set theory has been shown to be a powerful tool for describing the multidimensionality and complexity of social phenomena. This book will be of significant interest to economists, statisticians and sociologists utilising quantitative methods to explore socio-economic phenomena.