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Books > Academic & Education > Professional & Technical > Econometrics

Measurement Error and Latent Variables in Econometrics, Volume 37 (Hardcover, 1st ed): T. Wansbeek, E. Meijer Measurement Error and Latent Variables in Econometrics, Volume 37 (Hardcover, 1st ed)
T. Wansbeek, E. Meijer
R3,491 Discovery Miles 34 910 Ships in 10 - 15 working days

The book first discusses in depth various aspects of the well-known inconsistency that arises when explanatory variables in a linear regression model are measured with error. Despite this inconsistency, the region where the true regression coeffecients lies can sometimes be characterized in a useful way, especially when bounds are known on the measurement error variance but also when such information is absent. Wage discrimination with imperfect productivity measurement is discussed as an important special case.


Next, it is shown that the inconsistency is not accidental but fundamental. Due to an identification problem, no consistent estimators may exist at all. Additional information is desirable. This information can be of various types. One type is exact prior knowledge about functions of the parameters. This leads to the CALS estimator. Another major type is in the form of instrumental variables. Many aspects of this are discussed, including heteroskedasticity, combination of data from different sources, construction of instruments from the available data, and the LIML estimator, which is especially relevant when the instruments are weak.


The scope is then widened to an embedding of the regression equation with measurement error in a multiple equations setting, leading to the exploratory factor analysis (EFA) model. This marks the step from measurement error to latent variables. Estimation of the EFA model leads to an eigenvalue problem. A variety of models is reviewed that involve eignevalue problems as their common characteristic.


EFA is extended to confirmatory factor analysis (CFA) by including restrictions on the parameters of the factor analysis model, and next by relating the factors to background variables.
These models are all structural equation models (SEMs), a very general and important class of models, with the LISREL model as its best-known representation, encompassing almost all linear equation systems with latent variables.


Estimation of SEMs can be viewed as an application of the generalized method of moments (GMM). GMM in general and for SEM in particular is discussed at great length, including the generality of GMM, optimal weighting, conditional moments, continuous updating, simulation estimation, the link with the method of maximum likelihood, and in particular testing and model evaluation for GMM.


The discussion concludes with nonlinear models. The emphasis is on polynomial models and models that are nonlinear due to a filter on the dependent variables, like discrete choice models or models with ordered categorical variables.

Inflation, Employment and Business Fluctuations, Volume 35C (Hardcover): Author Unknown Inflation, Employment and Business Fluctuations, Volume 35C (Hardcover)
Author Unknown
R3,584 Discovery Miles 35 840 Ships in 10 - 15 working days

A Textbook on Macroeconomic Knowledge and Analysis

Principles of Macroeconometric Modeling, Volume 36 (Hardcover, Revised ed.): L.R. Klein, W. Welfe, A. Welfe Principles of Macroeconometric Modeling, Volume 36 (Hardcover, Revised ed.)
L.R. Klein, W. Welfe, A. Welfe
R3,183 Discovery Miles 31 830 Ships in 10 - 15 working days

Two important new developments have occurred that have significant impact on the evolution of econometrics, namely, the end of the Cold War and the emergence of the information revolution in nearly all economies of the world.

The information revolution has had significant effect on data flows, making them much more timely, accessible, and descriptive of more parts of the economy. At the same time, it has changed the industrial structure of many economies, giving rise to increasing importance of the tertiary sectors (e.g. services). The new generation of hardware and software enables econometricians to handle larger and more complex problems, especially those that are data intensive and computer intrusive.

These major events require reconsideration and redrafting of some of the materials of the original edition.

The present volume retains the original structure of "Lectures on Microeconomic Theory" and takes up principles of constructing dynamic macroeconometric models and their use in economic analyses and forecasting, while introducing many updates, revisions and extensions. The description of the econometric methodology has been limited to specific applications of time series analysis, and the title has been changed to "Principles of Macroeconometric Modeling."


The first four chapters discuss the principles of specifying equations of structural macromodels, covering both developed marked economies, transition economies and world-wide models. The remaining chapters cover some major issues in the use of macromodels. The point of departure is model simulation, especially of the prevailing non-linear models, which is followed by model validation. The analysis of model dynamics covers economic fluctuations and the relevant implications of non-stationarity. The use of macromodels in policy analysis is presented next; it includes multiplier analysis and scenario simulations. The monograph ends up with forecasting being a special case of simulation analysis.

Framework, Households and Firms, Volume 35A (Hardcover): Author Unknown Framework, Households and Firms, Volume 35A (Hardcover)
Author Unknown
R3,770 Discovery Miles 37 700 Ships in 10 - 15 working days
Handbook of Population and Family Economics, Volume 1B (Hardcover): M.R. Rosenzweig, O. Stark Handbook of Population and Family Economics, Volume 1B (Hardcover)
M.R. Rosenzweig, O. Stark
R4,191 Discovery Miles 41 910 Ships in 10 - 15 working days

The collection of chapters in the "Handbook of Population and Family Economics" and their organization reflect the most recent developments in economics pertaining to population issues and the family. The rationale, contents, and organization of the "Handbook" evolve from three premises. First, the family is the main arena in which population outcomes are forged. Second, there are important interactions and significant causal links across all demographic phenomena. Third, the study of the size, composition, and growth of a population can benefit from the application of economic methodology and tools. The diversity and depth of the work reviewed and presented in the "Handbook" conveys both the progress that has been made by economists in understanding the forces shaping population processes, including the behavior of families, and the many questions, empirical and theoretical, that still remain. For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/hes

Handbook of International Economics, Volume 2 - International Monetary Economics and Finance (Paperback, New edition): R.W.... Handbook of International Economics, Volume 2 - International Monetary Economics and Finance (Paperback, New edition)
R.W. Jones, P.B Kenen
R2,228 Discovery Miles 22 280 Ships in 10 - 15 working days

This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions.
The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods.
The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior.
For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/hes

Handbook of Computable General Equilibrium Modeling, Volume 1A-1B (Hardcover): Peter B. Dixon, Dale Jorgenson Handbook of Computable General Equilibrium Modeling, Volume 1A-1B (Hardcover)
Peter B. Dixon, Dale Jorgenson
R5,065 R4,332 Discovery Miles 43 320 Save R733 (14%) Out of stock

Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view.

Presents coherent summaries of CGE theories that inform major model types
Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results
Shows how CGE modeling has made a contribution to economic policy

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