scholarly journals The New Econometrics of Structural Change: Dating Breaks in U.S. Labor Productivity

2001 ◽  
Vol 15 (4) ◽  
pp. 117-128 ◽  
Author(s):  
Bruce E Hansen
Keyword(s):  
Time Series ◽  
Structural Change ◽  
Labor Productivity ◽  
Time Trends ◽  
Structural Break ◽  
Unit Roots ◽  
Empirical Assessment ◽  
Time Series Econometrics ◽  
The Past ◽  
The Face

We have seen the emergence of three major innovations in the econometrics of structural change in the past fifteen years: (1) tests for a structural break of unknown timing; (2) estimation of the timing of a structural break; and (3) tests to distinguish unit roots from broken time trends. These three innovations have dramatically altered the face of applied time series econometrics. In this paper, we review these three innovations, and illustrate their application through an empirical assessment of U.S. labor productivity in the manufacturing/durables sector.

scholarly journals Twenty Years of Time Series Econometrics in Ten Pictures

2017 ◽  
Vol 31 (2) ◽  
pp. 59-86 ◽  
Author(s):  
James H. Stock ◽  
Mark W. Watson
Keyword(s):  
Time Series ◽  
Causal Effects ◽  
Economic Time Series ◽  
Economic Relationships ◽  
Time Series Econometrics ◽  
The Past ◽  
Dynamic Structural Models ◽  
Economic Time ◽  
Dynamic Stochastic ◽  
Improved Methods

This review tells the story of the past 20 years of time series econometrics through ten pictures. These pictures illustrate six broad areas of progress in time series econometrics: estimation of dynamic causal effects; estimation of dynamic structural models with optimizing agents (specifically, dynamic stochastic equilibrium models); methods for exploiting information in “big data” that are specialized to economic time series; improved methods for forecasting and for monitoring the economy; tools for modeling time variation in economic relationships; and improved methods for statistical inference. Taken together, the pictures show how 20 years of research have improved our ability to undertake our professional responsibilities. These pictures also remind us of the close connection between econometric theory and the empirical problems that motivate the theory, and of how the best econometric theory tends to arise from practical empirical problems.

scholarly journals Spurious Regression

2009 ◽  
Vol 2009 ◽  
pp. 1-27 ◽  
Author(s):  
D. Ventosa-Santaulària
Keyword(s):  
Time Series ◽  
Unit Root ◽  
Long Memory ◽  
Unit Roots ◽  
Unit Root Tests ◽  
Modern Time ◽  
Spurious Regression ◽  
Time Series Econometrics ◽  
Wide Range ◽  
Applied Macroeconomics

The spurious regression phenomenon in least squares occurs for a wide range of data generating processes, such as driftless unit roots, unit roots with drift, long memory, trend and broken-trend stationarity. Indeed, spurious regressions have played a fundamental role in the building of modern time series econometrics and have revolutionized many of the procedures used in applied macroeconomics. Spin-offs from this research range from unit-root tests to cointegration and error-correction models. This paper provides an overview of results about spurious regression, pulled from disperse sources, and explains their implications.

scholarly journals Tests for Structural Breaks in Time Series Analysis: A Review of Recent Development

2019 ◽  
Vol 7 (4) ◽  
pp. 66-79
Author(s):  
P Muthuramu ◽  
T Uma Maheswari
Keyword(s):  
Time Series ◽  
Dynamic Programming ◽  
Change Point ◽  
Structural Breaks ◽  
Structural Break ◽  
Econometric Models ◽  
Theoretical Development ◽  
Fundamental Change ◽  
Parameter Instability ◽  
The Past

The issue related to a structural break or change point in the econometric and statistics literature is relatively vast. In recent decades it was increasing, and it got recognized by various researchers. The debates are about a structural break or parameter instability in the econometric models. Over some time, there has been a different mechanism, and theoretical development stretching the fundamental change and strengthen the econometric literature. Estimation of structural break has undergone significant changes. Instead of exploring the presence of a known structural break, now the emphasis is on tracing multiple unknown cracks using dynamic programming. The paper an attempt has been made to review the different forms of the presence of structural break(s) over the past.

Epilogue: On the Current and Future State of Historical Writing

2018 ◽  
Author(s):  
Allan Megill
Keyword(s):  
Historical Writing ◽  
Conceptual Difficulty ◽  
Universal History ◽  
The Past ◽  
Initial Decision ◽  
Future State ◽  
The Face ◽  
History Of

This epilogue argues that historians ought to be able to produce a universal history, one that would ‘cover’ the past of humankind ‘as a whole’. However, aside from the always increasing difficulty of mastering the factual material that such an undertaking requires, there exists another difficulty: the coherence of universal history always presupposes an initial decision not to write about the human past in all its multiplicity, but to focus on one aspect of that past. Nevertheless, the lure of universal history will persist, even in the face of its practical and conceptual difficulty. Certainly, it is possible to imagine a future ideological convergence among humans that would enable them to accept, as authoritative, one history of humankind.

Time-series econometrics

2014 ◽  
pp. 199-200
Author(s):  
Michelle C. Baddeley ◽  
Diana V. Barrowclough
Keyword(s):  
Time Series ◽  
Time Series Econometrics

Maxillofacial Bony Considerations in Facial Transplantation

2021 ◽  
Author(s):  
Aurora G. Vincent ◽  
Anne E. Gunter ◽  
Yadranko Ducic ◽  
Likith Reddy
Keyword(s):  
Soft Tissue ◽  
Current Literature ◽  
Preoperative Planning ◽  
Surgical Anatomy ◽  
The Past ◽  
Facial Transplantation ◽  
Tissue Transfer ◽  
Reconstructive Ladder ◽  
The Face ◽  
Facial Wounds

AbstractAlloplastic facial transplantation has become a new rung on the proverbial reconstructive ladder for severe facial wounds in the past couple of decades. Since the first transfer including bony components in 2006, numerous facial allotransplantations across many countries have been successfully performed, many incorporating multiple bony elements of the face. There are many unique considerations to facial transplantation of bone, however, beyond the considerations of simple soft tissue transfer. Herein, we review the current literature and considerations specific to bony facial transplantation focusing on the pertinent surgical anatomy, preoperative planning needs, intraoperative harvest and inset considerations, and postoperative protocols.

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