Econometric Methods for Education

2021 ◽  
pp. 4-29
Author(s):  
Luc Behaghel ◽  
Maria Florencia Pinto
Keyword(s):  
Econometric Methods

Mathematical Formalism and Political-Economic Content

2012 ◽  
pp. 82-95 ◽  
Author(s):  
D. Foley
Keyword(s):  
Political Economy ◽  
Statistical Methods ◽  
Complex Adaptive System ◽  
Economic Modeling ◽  
Qualitative Properties ◽  
Mathematical Methods ◽  
Econometric Methods ◽  
Statistical Fluctuations ◽  
Complex Adaptive ◽  
New Thinking

Mathematical methods are only one moment in a layered process of theory generation in political economy, which starts from Schumpeterian vision, progresses to the identification of relevant abstractions, the development of mathematical and quantitative models, and the confrontation of theories with empirical data through statistical methods. But today the relevant abstract problems of political economy are modified to fit available mathematical tools. The role of empirical research in disciplining theoretical speculation, on which the scientific traditions integrity rests, was undermined by specific limitations of nascent econometric methods, and usurped by ex cathedra methodological fiats of theorists. These developmentssystematically favored certain ideological predispositions of economicsas a discipline. There is abundant room for New Thinking in political economy starting from the vision of the capitalist economy as a complex, adaptive system far from equilibrium, including the development of the theory of statistical fluctuations for economic interactions, redirection of macroeconomics and financial economics from path prediction toward an understanding of the qualitative properties of the system, introduction of constructive and computable methods into economic modeling, and the critical reconstruction of econometric statistical methods.

Theoretical and Empirical Research in Modern Economics: Problems of Communication

2008 ◽  
pp. 4-19 ◽  
Author(s):  
A. Libman
Keyword(s):  
Empirical Research ◽  
Econometric Methods ◽  
Potential Impact ◽  
Empirical Turn

The last decades witnessed the increasing importance of econometric methods and empirical research in economics. The success of the empirical turn in economics depends on the formats and problems of communication between theory and empirics. The paper considers potential difficulties in communication "from the theory to empirical research" and "from empirical research to theory". It analyzes the role of informal consensus as an instrument facilitating such communication and potential impact of this consensus on the direction of research.

High-Frequency Financial Econometrics

2014 ◽  
Author(s):  
Yacine Aït-Sahalia ◽  
Jean Jacod
Keyword(s):  
High Frequency ◽  
Practical Importance ◽  
Financial Econometrics ◽  
Trading Strategies ◽  
Financial Data ◽  
Jump Processes ◽  
High Frequency Trading ◽  
Microstructure Noise ◽  
Econometric Methods ◽  
Mathematical Foundations

High-frequency trading is an algorithm-based computerized trading practice that allows firms to trade stocks in milliseconds. Over the last fifteen years, the use of statistical and econometric methods for analyzing high-frequency financial data has grown exponentially. This growth has been driven by the increasing availability of such data, the technological advancements that make high-frequency trading strategies possible, and the need of practitioners to analyze these data. This comprehensive book introduces readers to these emerging methods and tools of analysis. The book covers the mathematical foundations of stochastic processes, describes the primary characteristics of high-frequency financial data, and presents the asymptotic concepts that their analysis relies on. It also deals with estimation of the volatility portion of the model, including methods that are robust to market microstructure noise, and address estimation and testing questions involving the jump part of the model. As the book demonstrates, the practical importance and relevance of jumps in financial data are universally recognized, but only recently have econometric methods become available to rigorously analyze jump processes. The book approaches high-frequency econometrics with a distinct focus on the financial side of matters while maintaining technical rigor, which makes this book invaluable to researchers and practitioners alike.

Ochrona dziedzictwa kulturowego a działania na dużych szybkozmiennych zbiorach danych – perspektywa kryminologiczna

2019 ◽  
pp. 5-22
Author(s):  
Szymon Buczyński
Keyword(s):  
New Technology ◽  
Big Data Analytics ◽  
Technological Innovations ◽  
Cultural Organizations ◽  
Econometric Methods ◽  
The Arts ◽  
Huge Data ◽  
Wide Range ◽  
Share Data ◽  
Processing Techniques

Recent technological revolutions in data and communication systemsenable us to generate and share data much faster than ever before. Sophisticated data tools aim to improve knowledge and boost confdence. That technological tools will only get better and user-friendlier over the years, big datacan be considered an important tool for the arts and culture sector. Statistical analysis, econometric methods or data mining techniques could pave theway towards better understanding of the mechanisms occurring on the artmarket. Moreover crime reduction and prevention challenges in today’sworld are becoming increasingly complex and are in need of a new techniquethat can handle the vast amount of information that is being generated. Thisarticle provides an examination of a wide range of new technological innovations (IT) that have applications in the areas of culture preservation andheritage protection. The author provides a description of recent technological innovations, summarize the available research on the extent of adoptionon selected examples, and then review the available research on the eachform of new technology. Furthermore the aim of this paper is to explore anddiscuss how big data analytics affect innovation and value creation in cultural organizations and shape consumer behavior in cultural heritage, arts andcultural industries. This paper discusses also the likely impact of big dataanalytics on criminological research and theory. Digital criminology supports huge data base in opposition to conventional data processing techniques which are not only in suffcient but also out dated. This paper aims atclosing a gap in the academic literature showing the contribution of a bigdata approach in cultural economics, policy and management both froma theoretical and practice-based perspective. This work is also a startingpoint for further research.

scholarly journals Analysis and Forecasts of the Demand for Imported Wine in China

2021 ◽  
pp. 193896552098107
Author(s):  
Anyu Liu ◽  
Haiyan Song
Keyword(s):  
Single Equation ◽  
Specific Model ◽  
Specific Method ◽  
Sparkling Wine ◽  
Econometric Methods ◽  
Distributed Lag ◽  
Distributed Lag Models ◽  
Wine Market ◽  
Wine Demand

The aim of this study is to investigate the long-term determinants of China’s imported wine demand and to forecast wine imports from 2019 to 2023 using econometric methods. Auto-regressive distributed lag models are developed based on neoclassical economic demand theory to investigate the long-term determinants of China’s demand for imported bottled, bulk, and sparkling wine from the top five countries of origin. The empirical results demonstrate that income is the most important determinant of China’s imported wine demand, and that price only plays a significant role in a few markets. Substitute and complement effects are identified between wines from different countries of origin and between imported wines and other liquids. China’s imported wine demand is expected to maintain its rapid growth over the forecast period. Bottled wine will continue to dominate China’s imported wine market. France will have the largest market share in the bottled wine market, Spain will be the largest provider of bulk wine, and Italy will hold the same position for sparkling wine. This is the first study to use a single equation with the general to specific method rather than a system of equations to estimate and forecast China’s demand for imported bottled, bulk, and sparkling wines from different countries of origin. The more specific model setting for each country of origin improves forecasting accuracy.

scholarly journals A meta-analysis of the literature on climate change and migration

2021 ◽  
pp. 1-52
Author(s):  
Michel Beine ◽  
Lionel Jeusette
Keyword(s):  
Climate Change ◽  
Climatic Factors ◽  
Human Mobility ◽  
Meta Analysis ◽  
Empirical Studies ◽  
Displacement Effect ◽  
Methodological Choices ◽  
Econometric Methods ◽  
And Migration

Abstract Recent surveys of the literature on climate change and migration emphasize the important diversity of outcomes and approaches of the empirical studies. In this paper, we conduct a meta-analysis in order to investigate the role of the methodological choices of these empirical studies in finding some particular results concerning the role of climatic factors as drivers of human mobility. We code 51 papers representative of the literature in terms of methodological approaches. This results in the coding of more than 85 variables capturing the methodology of the main dimensions of the analysis at the regression level. These dimensions include authors' reputation, type of mobility, measures of mobility, type of data, context of the study, econometric methods, and last but not least measures of the climatic factors. We look at the influence of these characteristics on the probability of finding any effect of climate change, a displacement effect, an increase in immobility, and evidence in favor of a direct vs. an indirect effect. Our results highlight the role of some important methodological choices, such as the frequency of the data on mobility, the level of development, the measures of human mobility and of the climatic factors as well as the econometric methodology.

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