The present book is a collection of panel data papers, both theoretical and applied. Theoretical topics include methodology papers on panel data probit models, treatment models, error component models with an ARMA process on the time specific effects, asymptotic tests for poolability and their bootstrapped versions, confidence intervals for a doubly heteroskedastic stochastic production frontiers, estimation of semiparametric dynamic panel data models and a review of survey attrition and nonresponse in the European Community Household Panel. Applications include as different topics as e.g....
The present book is a collection of panel data papers, both theoretical and applied. Theoretical topics include methodology papers on panel data pr...
Quantile regression has emerged as an essential statistical tool of contemporary empirical economics and biostatistics. Complementing classical least squares regression methods which are designed to estimate conditional mean models, quantile regression provides an ensemble of techniques for estimating families of conditional quantile models, thus offering a more complete view of the stochastic relationship among variables. This volume collects 12 outstanding empirical contributions in economics and offers an indispensable introduction to interpretation, implementation, and inference aspects...
Quantile regression has emerged as an essential statistical tool of contemporary empirical economics and biostatistics. Complementing classical least ...
Education and training are key to explain the current competitive strengths of national economies. While in the past educational and training institutions were often seen as providers of necessary skills for national economies, this view has changed, with education and training now being seen as a key ingredient for international competitiveness. This collection of papers on various aspects of the economics of education and training reflects this new interest.
Education and training are key to explain the current competitive strengths of national economies. While in the past educational and training insti...
In this paper, we propose a new econometric approach to jointly model the time series dynamics of the trading process and the revisions of ask and bid prices. We use this model to test the validity of certain symmetry assumptions very common among microstructure models. Namely, we test whether ask and bid quotes respond symmetrically to trade-related shocks, and whether buyer-initiated trades and seller-initiated trades are equally informative. In essence, the procedure we propose generalizes Hasbrouck s (1991) vector autoregressive model for signed trades and changes in the quote midpoint by...
In this paper, we propose a new econometric approach to jointly model the time series dynamics of the trading process and the revisions of ask and bid...
In 1999 a number of member states of the European Union will adopt a common currency. This change in the monetary system requires that a Eur opean Central Bank is set up and a common monetary policy is pursued. There is general agreement among those countries which are likely to join the common currency that price level stability has to be the ultimate objec tive of monetary po1icy. It is an open issue, however, what kind of policy is best suited for that purpose. The alternative strategies under discussion are a direct inflation targeting, an intermediate monetary targeting or a mixture of...
In 1999 a number of member states of the European Union will adopt a common currency. This change in the monetary system requires that a Eur opean Cen...
This book documents the research I conducted on the subject of Electronic Data Inter change during my time at the Institute of Business Informatics, University of Berne, Switzerland. In this effort I enjoyed a great deal of help from numerous others, in cluding professional colleagues, interview partners, and members of my family. Even though I cannot possibly mention them all, I would like to express my sincere gratitude for their selfless support. Above all, I am grateful to Prof. Dr. Gerhard Knolmayer who contributed to the book both in its formative stages and throughout its development....
This book documents the research I conducted on the subject of Electronic Data Inter change during my time at the Institute of Business Informatics, U...
One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring answers to this question is to promote exports -either because doing so directly influences development via encouraging production of goods for export, or because export promotion permits accumulation of foreign exchange which permits importation of high-quality goods and services, which can in turn be used to expand the nation's production possibilities. In either case, growth is said to be export-led; the latter case is the so-called "two-gap"...
One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring ...
The disappearance of central planned economies left politicians, researchers, consultants, and academics with an interest in economies in transition in vagueness about the actual state of the economy and its short and medium term prospects. This volume provides the reader with information on how to deal with the statistical shortcomings of economies in transition. Most economic variables published for these countries tend to encompass a short period of time or they possess a low measurement quality. Moreover, most of the series are subject to structural breaks, due to the change in the...
The disappearance of central planned economies left politicians, researchers, consultants, and academics with an interest in economies in transition i...
One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring answers to this question is to promote exports -either because doing so directly influences development via encouraging production of goods for export, or because export promotion permits accumulation of foreign exchange which permits importation of high-quality goods and services, which can in turn be used to expand the nation's production possibilities. In either case, growth is said to be export-led; the latter case is the so-called "two-gap"...
One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring ...
This book consists of four parts: I. Labour demand and supply, II. Productivity slowdown and innovative activity, III. Disequilibrium and business cycle analysis, and IV. Time series analysis of output and employment. It presents a fine selection of articles in the growing field ofthe empirical analysis of output and employment fluctuations with applications in a micro-econometric or a time-series framework. The time-series literature recently has emphasized the careful testing for stationarity and nonlinearity in the data, and the importance of cointegration theory. An essential part of the...
This book consists of four parts: I. Labour demand and supply, II. Productivity slowdown and innovative activity, III. Disequilibrium and business cyc...
