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In this book interrelated factor demand models are surveyed. New methods are developed and are analysed empirically using Dutch and U.K. time series data. New methods are discussed for obtaining closed form solutions of linear ratinal expectations models, providing deeper insights into the identification of structural parameters of underlying theoretical models; recently developed time series techniques are applied in order to estimate structural parameters and test for model specification, stationarity and stability through time; new models are developed in which the rather stringent and questionable restrictions of symmetry generally imposed upon stochastic adjustment models of labour demand are relaxed, the models are analysed empirically using time series data of Dutch and U.K. manufacturing production and nonproduction workers.
The new economics of labor demand and personnel is presented in this collection of 14 original essays. The main purpose of the volume is to bridge the existing knowledge application gap. Particular attention is paid to nonlinear labor demand dynamics and equilibrium models for job flows, search, and wage growth. At the end of each paper a comment by an expert reviewer is provided.
Imad Moosa challenges convention with this comprehensive and compelling critique of econometrics, condemning the common practices of misapplied statistical methods in both economics and finance.
An introduction to the theory and methods of empirical asset pricing, integrating classical foundations with recent developments. This book offers a comprehensive advanced introduction to asset pricing, the study of models for the prices and returns of various securities. The focus is empirical, emphasizing how the models relate to the data. The book offers a uniquely integrated treatment, combining classical foundations with more recent developments in the literature and relating some of the material to applications in investment management. It covers the theory of empirical asset pricing, the main empirical methods, and a range of applied topics. The book introduces the theory of empirical asset pricing through three main paradigms: mean variance analysis, stochastic discount factors, and beta pricing models. It describes empirical methods, beginning with the generalized method of moments (GMM) and viewing other methods as special cases of GMM; offers a comprehensive review of fund performance evaluation; and presents selected applied topics, including a substantial chapter on predictability in asset markets that covers predicting the level of returns, volatility and higher moments, and predicting cross-sectional differences in returns. Other chapters cover production-based asset pricing, long-run risk models, the Campbell-Shiller approximation, the debate on covariance versus characteristics, and the relation of volatility to the cross-section of stock returns. An extensive reference section captures the current state of the field. The book is intended for use by graduate students in finance and economics; it can also serve as a reference for professionals.
This paper develops a small open economy dynamic stochastic general-equilibrium model with macrofinancial linkages. The model includes a financial accelerator--entrepreneurs are assumed to partially finance investment using domestic and foreign currency debt--to assess the importance of financial frictions in the amplification and propagation of the effects of transitory shocks. We use Bayesian estimation techniques to estimate the model using India data. The model is used to assess the importance of the financial accelerator in India and the optimality of monetary policy.
How to interpret and evaluate economic forecasts and the uncertainties inherent in them.
A leading economist trains a lens on his own discipline to uncover when it fails and when it works.
This is an immensely helpful book for students starting their own research... an excellent introduction to the comparative method giving an authoritative overview over the research process - Klaus Armingeon, University of Bern Doing Research in Political Science is the book for mastering the comparative method in all the social sciences - Jan-Erik Lane, University of Geneva This book has established itself as a concise and well-readable text on comparative methods and statistics in political science I...strongly recommend it. - Dirk Berg-Schlosser, Philipps-University Marburg This thoroughly revised edition of the popular textbook offers an accessible but comprehensive introduction to comparative research methods and statistics for students of political science. Clearly organized around three parts, the text introduces the main theories and methodologies used in the discipline. Part 1 frames the comparative approach within the methodological framework of the political and social sciences. Part 2 introduces basic descriptive and inferential statistical methods as well as more advanced multivariate methods used in quantitative political analysis. Part 3 applies the methods and techniques of Parts 1 & 2 to research questions drawn from contemporary themes and issues in political science. Incorporating practice exercises, ideas for further reading and summary questions throughout, Doing Research in Political Science provides an invaluable step-by-step guide for students and researchers in political science, comparative politics and empirical political analysis.