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The "Theory of Macrojustice", introduced by S.-C. Kolm, is a
stimulating contribution to the debate on the macroeconomic income
distribution. The solution called "Equal Labour Income
Equalisation" (ELIE) is the result of a three stages construction:
collective agreement on the scheme of labour income redistribution,
collective agreement on the degree of equalisation to be chosen in
that framework, individual freedom to exploit his--her personal
productive capicities (the source of labour income and the sole
basis for taxation). This book is organised as a discussion around
four complementary themes: philosophical aspects of macrojustice,
economic analysis of macrojustice, combination of ELIE with other
targeted tranfers, econometric evaluations of ELIE.
The "Theory of Macrojustice", introduced by S.-C. Kolm, is a
stimulating contribution to the debate on the macroeconomic income
distribution. The solution called "Equal Labour Income
Equalisation" (ELIE) is the result of a three stages construction:
collective agreement on the scheme of labour income redistribution,
collective agreement on the degree of equalisation to be chosen in
that framework, individual freedom to exploit his--her personal
productive capicities (the source of labour income and the sole
basis for taxation). This book is organised as a discussion around
four complementary themes: philosophical aspects of macrojustice,
economic analysis of macrojustice, combination of ELIE with other
targeted tranfers, econometric evaluations of ELIE.
This work contains an up-to-date coverage of the last 20 years'
advances in Bayesian inference in econometrics, with an emphasis on
dynamic models. It shows how to treat Bayesian inference in non
linear models, by integrating the useful developments of numerical
integration techniques based on simulations (such as Markov Chain
Monte Carlo methods), and the long available analytical results of
Bayesian inference for linear regression models. It thus covers a
broad range of rather recent models for economic time series, such
as non linear models, autoregressive conditional heteroskedastic
regressions, and cointegrated vector autoregressive models. It
contains also an extensive chapter on unit root inference from the
Bayesian viewpoint. Several examples illustrate the methods. This
book is intended for econometrics and statistics postgraduates,
professors and researchers in economics departments, business
schools, statistics departments, or any research centre in the same
fields, especially econometricians.
This book offers an up-to-date coverage of the basic principles and of the tools of Bayesian inference in econometrics. Bayesian inference is a branch of statistics that integrates explicitly both data and prior (possibly subjective) information in model building , estimation and evaluation. The book then shows how to use Bayesian methods in a range of models especially suited to the analysis of macroeconomic and financial time series.
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