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Unit Roots and Structural Breaks

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ISBN: 9783038428114 9783038428121 Year: Pages: VI, 162 Language: English
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Economics --- Mathematics
Added to DOAB on : 2018-04-13 15:24:38
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This book deals with problems related to unit roots and structural change, and the interplay between the two. The research agenda dealing with these topics have proved to be of importance to devise procedures that are reliable for inference and forecasting. Several important contributions have been made. Still, there is scope for improvements to and analyses of the existing procedures. This book provides contributions that follow up on what has been done and/or offer new perspectives on such issues and related ones.

Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems

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ISBN: 9783110550443 9783110550764 Year: Pages: 218 DOI: 10.1515/9783110550443 Language: English
Publisher: De Gruyter
Subject: Economics
Added to DOAB on : 2017-08-10 13:47:31
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Non-extensive Entropy Econometrics for Low Frequency Series provides a new and robust power-law-based, non-extensive entropy econometrics approach to the economic modelling of ill-behaved inverse problems. Particular attention is paid to national account-based general equilibrium models known for their relative complexity.In theoretical terms, the approach generalizes Gibbs-Shannon-Golan entropy models, which are useful for describing ergodic phenomena. In essence, this entropy econometrics approach constitutes a junction of two distinct concepts: Jayne’s maximum entropy principle and the Bayesian generalized method of moments. Rival econometric techniques are not conceptually adapted to solving complex inverse problems or are seriously limited when it comes to practical implementation. Recent literature showed that amplitude and frequency of macroeconomic fluctuations do not substantially diverge from many other extreme events, natural or human-related, once they are explained in the same time (or space) scale. Non-extensive entropy is a precious device for econometric modelling even in the case of low frequency series, since outputs evolving within the Gaussian attractor correspond to the Tsallis entropy limiting case of Tsallis q-parameter around unity. This book introduces a sub-discipline called Non-extensive Entropy Econometrics or, using a recent expression, Superstar Generalised Econometrics. It demonstrates, using national accounts-based models, that this approach facilitates solving nonlinear, complex inverse problems, previously considered intractable, such as the constant elasticity of substitution class of functions. This new proposed approach could extend the frontier of theoretical and applied econometrics.

Formalizing the Shadow Economy in Serbia: Policy Measures and Growth Effects

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Book Series: Contributions to Economics ISBN: 9783319134369 9783319134376 Year: Pages: 179 DOI: 10.1007/978-3-319-13437-6 Language: English
Publisher: Springer
Subject: Business and Management --- Manufactures --- Economics
Added to DOAB on : 2016-04-12 15:41:47
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The main objective of this book is to develop a strategy and policy measures to enhance the formalization of the shadow economy in order to improve the competitiveness of the economy and contribute to economic growth; it explores these issues with special reference to Serbia. The size and development of the shadow economy in Serbia and other Central and Eastern European countries are estimated using two different methods (the MIMIC method and household-tax-compliance method). Micro-estimates are based on a special survey of business entities in Serbia, which for the first time allows us to explore the shadow economy from the perspective of enterprises and entrepreneurs. The authors identify the types of shadow economy at work in business entities, the determinants of shadow economy participation, and the impact of competition from the informal sector on businesses. Readers will learn both about the potential fiscal effects of reducing the shadow economy to the levels observed in more developed countries and the effects that formalization of the shadow economy can have on economic growth.

The Economy as a Complex Spatial System: Macro, Meso and Micro Perspectives

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Book Series: Springer Proceedings in Complexity ISSN: 2213-8684 / 2213-8692 ISBN: 9783319656267 9783319656274 Year: Pages: 220 DOI: https://doi.org/10.1007/978-3-319-65627-4 Language: English
Publisher: Springer
Subject: Economics
Added to DOAB on : 2017-11-24 16:21:26
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This collected volume represents the final outcome of the COST Action IS1104 “The EU in the new complex geography of economic systems: models, tools and policy evaluation”.Visualizing the EU as a complex and multi-layered network, the book is organized in three parts, each of them dealing with a different level of analysis: At the macro-level, Part I considers the interactions within large economic systems (regions or countries) involving trade, workers migration, and other factor movements. At the meso-level, Part II discusses interactions within specific but wide-ranging markets, with a focus on financial markets and banking systems. Lastly, at the micro-level, Part III explores the decision-making of single firms, especially in the context of location decisions.

Essays in International Trade and Public Economics

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Book Series: Finanzwissenschaftliche Schriften ISBN: 9783631621394 Year: Pages: 139 Language: English
Publisher: Peter Lang International Academic Publishing Group
Subject: Economics
Added to DOAB on : 2019-01-15 13:32:35
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The essays of this book are contributions to the empirical Literature in International Trade and Public Economics. They deal with the relationship between the structure and quality of the public sector and the process of economic integration. Two of the essays add to the empirical determinants of trade and foreign direct investment (FDI) and to the numerous applications of the theory of government decentralization. Decentralization tends to discourage inward FDI and domestic trade and to increase imports and exports. A third essay focuses on the effect of governments’ intangible assets – such as consumer perceptions about countries and products from these countries – on FDI. A country’s nation brand is shown to have a significant and large positive effect on investment flows.

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