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Structural Changes and their Econometric Modeling

2018-11-24 Technology & Engineering
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Release : 2018-11-24
Genre : Technology & Engineering
Kind : eBook
Book Rating : 634/5 ( reviews)

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Book Synopsis Structural Changes and their Econometric Modeling by : Vladik Kreinovich

Download or read book Structural Changes and their Econometric Modeling written by Vladik Kreinovich. This book was released on 2018-11-24. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on structural changes and economic modeling. It presents papers describing how to model structural changes, as well as those introducing improvements to the existing before-structural-changes models, making it easier to later on combine these models with techniques describing structural changes. The book also includes related theoretical developments and practical applications of the resulting techniques to economic problems. Most traditional mathematical models of economic processes describe how the corresponding quantities change with time. However, in addition to such relatively smooth numerical changes, economical phenomena often undergo more drastic structural change. Describing such structural changes is not easy, but it is vital if we want to have a more adequate description of economic phenomena – and thus, more accurate and more reliable predictions and a better understanding on how best to influence the economic situation.

Econometrics of Structural Change

2012-12-06 Business & Economics
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Release : 2012-12-06
Genre : Business & Economics
Kind : eBook
Book Rating : 123/5 ( reviews)

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Book Synopsis Econometrics of Structural Change by : Walter Krämer

Download or read book Econometrics of Structural Change written by Walter Krämer. This book was released on 2012-12-06. Available in PDF, EPUB and Kindle. Book excerpt: Econometric models are made up of assumptions which never exactly match reality. Among the most contested ones is the requirement that the coefficients of an econometric model remain stable over time. Recent years have therefore seen numerous attempts to test for it or to model possible structural change when it can no longer be ignored. This collection of papers from Empirical Economics mirrors part of this development. The point of departure of most studies in this volume is the standard linear regression model Yt = x;fJt + U (t = I, ... , 1), t where notation is obvious and where the index t emphasises the fact that structural change is mostly discussed and encountered in a time series context. It is much less of a problem for cross section data, although many tests apply there as well. The null hypothesis of most tests for structural change is that fJt = fJo for all t, i.e. that the same regression applies to all time periods in the sample and that the disturbances u are well behaved. The well known Chow test for instance assumes t that there is a single structural shift at a known point in time, i.e. that fJt = fJo (t

Economic Structural Change

2013-06-29 Business & Economics
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Release : 2013-06-29
Genre : Business & Economics
Kind : eBook
Book Rating : 249/5 ( reviews)

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Book Synopsis Economic Structural Change by : Peter Hackl

Download or read book Economic Structural Change written by Peter Hackl. This book was released on 2013-06-29. Available in PDF, EPUB and Kindle. Book excerpt: Structural change is a fundamental concept in economic model building. Statistics and econometrics provide the tools for identification of change, for estimating the onset of a change, for assessing its extent and relevance. Statistics and econometrics also have de veloped models that are suitable for picturing the data-generating process in the presence of structural change by assimilating the changes or due to the robustness to its presence. Important subjects in this context are forecasting methods. The need for such methods became obvious when, as a consequence of the oil price shock, the results of empirical analyses suddenly seemed to be much less reliable than before. Nowadays, economists agree that models with fixed structure that picture reality over longer periods are illusions. An example for less dramatic causes than the oil price shock with similarly profound effects is economic growth and its impacts on the economic system. Indeed, economic growth was a motivating concept for this volume. In 1983, the International Institute for Applied Systems Analysis (IIASA) in Laxen burg/ Austria initiated an ambitious project on "Economic Growth and Structural Change".

Econometrics of Structural Change

1989 Econometric models.
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Release : 1989
Genre : Econometric models.
Kind : eBook
Book Rating : 575/5 ( reviews)

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Book Synopsis Econometrics of Structural Change by : Walter Krämer

Download or read book Econometrics of Structural Change written by Walter Krämer. This book was released on 1989. Available in PDF, EPUB and Kindle. Book excerpt:

Statistical Analysis and Forecasting of Economic Structural Change

2013-03-09 Business & Economics
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Release : 2013-03-09
Genre : Business & Economics
Kind : eBook
Book Rating : 71X/5 ( reviews)

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Book Synopsis Statistical Analysis and Forecasting of Economic Structural Change by : Peter Hackl

Download or read book Statistical Analysis and Forecasting of Economic Structural Change written by Peter Hackl. This book was released on 2013-03-09. Available in PDF, EPUB and Kindle. Book excerpt: In 1984, the University of Bonn (FRG) and the International Institute for Applied System Analysis (IIASA) in Laxenburg (Austria), created a joint research group to analyze the relationship between economic growth and structural change. The research team was to examine the commodity composition as well as the size and direction of commodity and credit flows among countries and regions. Krelle (1988) reports on the results of this "Bonn-IIASA" research project. At the same time, an informal IIASA Working Group was initiated to deal with prob lems of the statistical analysis of economic data in the context of structural change: What tools do we have to identify nonconstancy of model parameters? What type of models are particularly applicable to nonconstant structure? How is forecasting affected by the presence of nonconstant structure? What problems should be anticipated in applying these tools and models? Some 50 experts, mainly statisticians or econometricians from about 15 countries, came together in Lodz, Poland (May 1985); Berlin, GDR (June 1986); and Sulejov, Poland (September 1986) to present and discuss their findings. This volume contains a selected set of those conference contributions as well as several specially invited chapters.

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