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Books > Business & Economics > Economics > Econometrics
Bayesian analysis has developed rapidly in applications in the last
two decades and research in Bayesian methods remains dynamic and
fast-growing. Dramatic advances in modelling concepts and
computational technologies now enable routine application of
Bayesian analysis using increasingly realistic stochastic models,
and this drives the adoption of Bayesian approaches in many areas
of science, technology, commerce, and industry.
This Handbook explores contemporary Bayesian analysis across a
variety of application areas. Chapters written by leading exponents
of applied Bayesian analysis showcase the scientific ease and
natural application of Bayesian modelling, and present solutions to
real, engaging, societally important and demanding problems. The
chapters are grouped into five general areas: Biomedical &
Health Sciences; Industry, Economics & Finance; Environment
& Ecology; Policy, Political & Social Sciences; and Natural
& Engineering Sciences, and Appendix material in each touches
on key concepts, models, and techniques of the chapter that are
also of broader pedagogic and applied interest.
Organizations can use the valuable tool of data envelopment
analysis (DEA) to make informed decisions on developing successful
strategies, setting specific goals, and identifying underperforming
activities to improve the output or outcome of performance
measurement. Strategic Performance Management and Measurement Using
Data Envelopment Analysis highlights the advantages of using DEA as
a tool to improve business performance and identify sources of
inefficiency in public and private organizations. These recently
developed theories and applications of DEA will be useful for
policymakers, managers, and practitioners in the areas of
sustainable development of our society including environment,
agriculture, finance, and higher education sectors.
As conceived by the founders of the Econometric Society,
econometrics is a field that uses economic theory and statistical
methods to address empirical problems in economics. It is a tool
for empirical discovery and policy analysis. The chapters in this
volume embody this vision and either implement it directly or
provide the tools for doing so. This vision is not shared by those
who view econometrics as a branch of statistics rather than as a
distinct field of knowledge that designs methods of inference from
data based on models of human choice behavior and social
interactions. All of the essays in this volume and its companion
volume 6A offer guidance to the practitioner on how to apply the
methods they discuss to interpret economic data. The authors of the
chapters are all leading scholars in the fields they survey and
extend.
Handbook of Econometrics is now available online at ScienceDirect
full-text online from volume 1 onwards.
*Part of the renowned Handbooks in Economics Series
*Updates and expands the exisiting "Handbook of Econometrics"
volumes
*An invaluable reference written by some of the world's leading
econometricians."
Economic theories can be expressed in words, numbers, graphs and
symbols. The existing traditional economics textbooks cover all
four methods, but the general focus is often more on writing about
the theory and methods, with few practical examples. With an
increasing number of universities having introduced mathematical
economics at undergraduate level, Basic mathematics for economic
students aims to fill this gap in the field. Basic mathematics for
economic students begins with a comprehensive chapter on basic
mathematical concepts and methods (suitable for self-study,
revision or tutorial purposes) to ensure that students have the
necessary foundation. The book is written in an accessible style
and is extremely practical. Numerous mathematical economics
examples and exercises are provided as well as fully worked
solutions using numbers, graphs and symbols. Basic mathematics for
economic students is aimed at all economics students. It focuses on
quantitative aspects and especially complements the two highly
popular theoretical economics textbooks Understanding
microeconomics and Understanding macroeconomics, both written by
Philip Mohr and published by Van Schaik.
The collection of chapters in Volume 43 Part B of Advances in
Econometrics serves as a tribute to Professor M. Hashem Pesaran.
Hashem is one of the most innovative, influential, and productive
econometricians of his generation, with over 200 papers published
in leading scientific journals to his credit along with highly
influential books on both theoretical and applied topics,
significantly pushing forward the frontiers of knowledge in
econometrics and economics. Thanks to his profound and pioneering
work on theoretical and empirical questions, the economics
profession has gained a much better understanding of both the power
and limitations of econometric analysis. Reflecting the diversity
of Hashem's many contributions, this volume includes chapters on a
wide variety of topics, including panel modelling, micro
applications, and econometric methodology. The long list of topics
includes studies analysing multiple treatment effects in panels,
heterogeneity and aggregation, an exploration of the Orthogonal to
Backwards Means (OBM) estimator, and an examination of potential
reasons for anaemic productivity growth in Italy using recent
dynamic heterogeneous panel data methods developed by Hashem
Pesaran and his co-authors.
The success of any business relies heavily on the evaluation and
improvement on current strategies and processes. Such progress can
be facilitated by implementing more effective decision-making
systems. Tools and Techniques for Economic Decision Analysis
provides a thorough overview of decision models and methodologies
in the context of business economics. Highlighting a variety of
relevant issues on finance, economic policy, and firms and
networks, this book is an ideal reference source for managers,
professionals, students, and academics interested in emerging
developments for decision analysis.
An analysis of, and factual details on, the economy, natural
resources, populations, foreign economic activity, and radical
economic reform in the Russian Far East. Features of the public and
private sectors are discussed providing a comprehensive discussion
of this area.
The collection in Volume 43 Part A of Advances in Econometrics
serves as a tribute to Professor M. Hashem Pesaran. Hashem is one
of the most innovative, influential, and productive econometricians
of his generation, with over 200 papers published in leading
scientific journals to his credit along with highly influential
books on both theoretical and applied topics, significantly pushing
forward the frontiers of knowledge in econometrics and economics.
Thanks to his profound and pioneering work on theoretical and
empirical questions, the economics profession has gained a much
better understanding of both the power and limitations of
econometric analysis. Consistent with Hashem's contributions, this
volume comprises of chapters on a variety of topics covering
prediction and macroeconomic modelling. The list of topics includes
studies on Bayesian Quantile regression methods, forecasting
implications from the economic impact of global warming, assessment
of DSGE models, and parameter estimation in the presence of
multiple breaks.
Providing a practical introduction to state space methods as
applied to unobserved components time series models, also known as
structural time series models, this book introduces time series
analysis using state space methodology to readers who are neither
familiar with time series analysis, nor with state space methods.
The only background required in order to understand the material
presented in the book is a basic knowledge of classical linear
regression models, of which brief review is provided to refresh the
reader's knowledge. Also, a few sections assume familiarity with
matrix algebra, however, these sections may be skipped without
losing the flow of the exposition.
The book offers a step by step approach to the analysis of the
salient features in time series such as the trend, seasonal, and
irregular components. Practical problems such as forecasting and
missing values are treated in some detail. This useful book will
appeal to practitioners and researchers who use time series on a
daily basis in areas such as the social sciences, quantitative
history, biology and medicine. It also serves as an accompanying
textbook for a basic time series course in econometrics and
statistics, typically at an advanced undergraduate level or
graduate level.
Covering a broad range of topics, this text provides a
comprehensive survey of the modeling of chaotic dynamics and
complexity in the natural and social sciences. Its attention to
models in both the physical and social sciences and the detailed
philosophical approach make this a unique text in the midst of many
current books on chaos and complexity. Including an extensive index
and bibliography along with numerous examples and simplified
models, this is an ideal course text.
In a time of changing technology and cultural shifts, it is
difficult to measure some aspects of the workforce. Education and
the American Workforce brings together a comprehensive collection
of employment and education information from federal statistical
agencies. The Census Bureau is the leading source of quality data
about the nation's people and economy. The Bureau of Labor
Statistics (BLS) is the principal federal agency responsible for
measuring labor market activity, working conditions, and price
changes in the economy. Together, these agencies produce a wealth
of information about the American workforce. This book includes
information about the jobs that people hold, the occupations that
they pursue, the industries where they work, and the education
levels that people have attained. In addition to tables, each
section also includes relevant figures and highlights of notable
data. Some examples of interesting data found inside Education and
the American Workforce include: *With no formal educational
requirement and a median salary of $22,680, 4.5 million people are
employed as retail salespersons, the most of any single occupation.
Cashiers and food preparation/serving workers account for another
3.5 million each. There are 2.9 million registered nurses, the most
numerous of occupations that require a bachelor's degree. *The
biggest numeric decline is expected for Postal Service mail
carriers, dropping by about 78,000 in ten years. When combined with
other Postal Service occupations-such as clerks, sorters,
postmasters, and others-a decline of 140,000 jobs is expected for
the Postal Service. *Among the 75 largest counties, Bronx County,
NY had the highest number of residents age 25 and over with less
than a high school diploma at 29.4 percent while Montgomery County,
PA had the lowest percentage at 6.2 percent. *Meanwhile, New York
County, NY and Fairfax County, VA had the highest percentage of
residents with a bachelor's degree or higher at 59.9 percent
followed by Montgomery County, MD at 57.9 percent among the 75
largest counties. Nationally, between 2011 and 2015, 29.8 percent
of the population had a bachelor's degree or higher.
This volume in Advances in Econometrics showcases fresh
methodological and empirical research on the econometrics of
networks. Comprising both theoretical, empirical and policy papers,
the authors bring together a wide range of perspectives to
facilitate a dialogue between academics and practitioners for
better understanding this groundbreaking field and its role in
policy discussions. This edited collection includes thirteen
chapters which covers various topics such as identification of
network models, network formation, networks and spatial
econometrics and applications of financial networks. Readers can
also learn about network models with different types of
interactions, sample selection in social networks, trade networks,
stochastic dynamic programming in space, spatial panels, survival
and networks, financial contagion, spillover effects,
interconnectedness on consumer credit markets and a financial risk
meter. The topics covered in the book, centered on the econometrics
of data and models, are a valuable resource for graduate students
and researchers in the field. The collection is also useful for
industry professionals and data scientists due its focus on
theoretical and applied works.
"Transportation Economics" explores the efficient use of society's
scarce resources for the movement of people and goods. This book
carefully examines transportation markets and standard economic
tools, how these resources are used, and how the allocation of
society resources affects transportation activities.
This textbook is unique in that it uses a detailed analysis of
econometric results from current transportation literature to
provide an integrated collection of theory and application. Its
numerous case studies illustrate the economic principles, discuss
testable hypotheses, analyze econometric results, and examine each
study's implications for public policy. These features make this a
well-developed introduction to the foundations of transportation
economics.
Additional case studies on a spectrum of domestic and
international transportation topics available at http:
//www.blackwellpublishers.co.uk/mccarthy in order to keep students
abreast of recent developments in the field and their implications
for public policy.
The paperback edition of this book is not available from
Blackwell in the US or Canda.
This volume of Research on Economic Inequality contains research on
how we measure poverty, inequality and welfare and how these
measurements contribute towards policies for social mobility. The
volume contains eleven papers, some of which focus on the uneven
impact of the Covid-19 pandemic on poverty and welfare. Opening
with debates on theoretical issues that lie at the forefront of the
measurement of inequality and poverty literature, the first two
chapters go on to propose new methods for measuring wellbeing and
inequality in multidimensional categorical environments, and for
measuring pro-poor growth in a Bayesian setting. The following
three papers present theoretical innovations for measuring poverty
and inequality, namely, in estimating the dynamic probability of
being poor using a Bayesian approach, and when presented with
ordinal variables. The next three chapters are contributions on
empirical methods in the measurement of poverty, inclusive economic
growth and mobility, with a focus on India, Israel and a unique
longitudinal dataset for Chile. The volume concludes with three
chapters exploring the impact of the Covid-19 pandemic as an
economic shock on income and wealth poverty in EU countries and in
an Argentinian city slum.
Businesses are collecting massive amounts of data every day as a
way to better understand their processes, competition, and the
markets they serve. This data can be used to increase
organizational productivity and performance; however, is essential
that organizations collecting large data sets have the tools
available to them to fully understand the data they are collecting.
Organizational Productivity and Performance Measurements Using
Predictive Modeling and Analytics takes a critical look at methods
for enhancing an organization's operations and day-to-day
activities through the effective use of data. Focusing on a variety
of applications of predictive analytics within organizations of all
types, this critical publication is an essential resource for
business managers, data scientists, graduate-level students, and
researchers.
In these two volumes, a group of distinguished economists debate the way in which evidence, in particular econometric evidence, can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle, monetary policy, economic growth, the impact of new econometric techniques, the IS-LM model, the labour market, new Keynesian macroeconomics, and the use of macroeconomics in official documents.
An Introduction to Wavelets and Other Filtering Methods in Finance
and Economics presents a unified view of filtering techniques with
a special focus on wavelet analysis in finance and economics. It
emphasizes the methods and explanations of the theory that
underlies them. It also concentrates on exactly what wavelet
analysis (and filtering methods in general) can reveal about a time
series. It offers testing issues which can be performed with
wavelets in conjunction with the multi-resolution analysis. The
descriptive focus of the book avoids proofs and provides easy
access to a wide spectrum of parametric and nonparametric filtering
methods. Examples and empirical applications will show readers the
capabilities, advantages, and disadvantages of each method.
*The first book to present a unified view of filtering techniques
*Concentrates on exactly what wavelets analysis and filtering
methods in general can reveal about a time series
*Provides easy access to a wide spectrum of parametric and
non-parametric filtering methods
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