Search results for "Econometric"
showing 10 items of 3780 documents
Modelling the presence of disease under spatial misalignment using Bayesian latent Gaussian models.
2015
Modelling patterns of the spatial incidence of diseases using local environmental factors has been a growing problem in the last few years. Geostatistical models have become popular lately because they allow estimating and predicting the underlying disease risk and relating it with possible risk factors. Our approach to these models is based on the fact that the presence/absence of a disease can be expressed with a hierarchical Bayesian spatial model that incorporates the information provided by the geographical and environmental characteristics of the region of interest. Nevertheless, our main interest here is to tackle the misalignment problem arising when information about possible covar…
Reporting heterogeneity in health: an extended latent class approach
2012
This article explores how individual socio-economic characteristics affect unobserved heterogeneity in self-reporting behaviour and health production using a multivariate finite mixture model. Results show a positive relationship between objective and subjective observable health indicators and true health and support the existence of self-reporting bias related to socio-economic characteristics and individual life styles.
Do different models induce changes in mortality indicators? That is a key question for extending the Lee-Carter model
2021
[EN] The parametric model introduced by Lee and Carter in 1992 for modeling mortality rates in the USA was a seminal development in forecasting life expectancies and has been widely used since then. Different extensions of this model, using different hypotheses about the data, constraints on the parameters, and appropriate methods have led to improvements in the model's fit to historical data and the model's forecasting of the future. This paper's main objective is to evaluate if differences between models are reflected in different mortality indicators' forecasts. To this end, nine sets of indicator predictions were generated by crossing three models and three block-bootstrap samples with …
Hedge Effectiveness Testing as a Screening Mechanism for Hedge Accounting
2014
Accounting for financial instruments has been subject to much controversy, particularly accounting practices related to derivatives held for hedging purposes. For cash flow hedges, poor matching may result when fair-value accounting is prescribed for the hedging instrument and historical cost is prescribed for the assets that generate the “highly probable forecast transaction” to be hedged. Fair-value accounting may therefore induce excess variations in earnings, which could make a firm appear to be more risky than it actually is. The alternative to fair-value accounting offered by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to fi…
The importance of the services brand in predicting loyalty and word of mouth
2018
This research is related to brand perception and its implications for the management of services, especially for hedonic services. The aim of this study is to analyse the influence of perceived brand quality on credibility and attitudes towards this perceived quality from the point of view of users, as well as whether that relationship could trigger increased loyalty and recommendations. The survey was conducted with usersof a public sports service located in Valencia, Spain, and the analysis of the data and the creation of the structural model was carried out using structural equation modeling (SEM). Its results have confirmed the influence of perceived quality on credibility but not on at…
Explaining Ethiopia’s Growth Acceleration—The Role of Infrastructure and Macroeconomic Policy
2017
Summary Ethiopia has experienced an impressive growth acceleration over the past decade. This was achieved on the back of an economic strategy emphasizing public infrastructure investment supported by heterodox macro-financial policies. This paper identifies the drivers of Ethiopia’s recent growth episode and examines the extent to which they were typical or unique. It combines country-specific information with the results of a cross-country panel regression model. We find that Ethiopia’s growth is explained well by factors correlating with growth in a broad range of countries in recent decades, including public infrastructure investment, restrained government consumption, and a conducive e…
GARCH models with changes in variance: An approximation to risk measurements
2003
This study aims to model volatility as an approximation to an optimum measurement of stock market risk because of the importance of this concept for, among other things, the proper management of portfolios. Following the proposal of Lamoureux and Lastrapes (1990), the authors consider that the high degree of persistence detected in GARCH models arises from a poor specification of the equation of the variance due to not considering the possible deterministic changes in the unconditional variance of the financial series. To determine the point in time as well as the duration of these changes, the proposal made by Inclan and Tiao (1994) is used. As an empirical application, whether or not the …
On the moments of Cochran's Q statistic under the null hypothesis, with application to the meta-analysis of risk difference.
2011
W. G. Cochran's Q statistic was introduced in 1937 to test for equality of means under heteroscedasticity. Today, the use of Q is widespread in tests for homogeneity of effects in meta-analysis, but often these effects (such as risk differences and odds ratios) are not normally distributed. It is common to assume that Q follows a chi-square distribution, but it has long been known that this asymptotic distribution for Q is not accurate for moderate sample sizes. In this paper, the effect and weight for an individual study may depend on two parameters: the effect and a nuisance parameter. We present expansions for the first two moments of Q without any normality assumptions. Our expansions w…
A Measure of Polarization for Tourism: Evidence from Italian Destinations
2011
This paper proposes an index of polarization for tourism which links the axiomatic theory of Esteban and Ray with the classical hierarchical agglomerative clustering techniques. The index is aimed at analyzing the dynamics of the average length of stay across Italian destinations, and more specifically to detect whether the polarization within the set of clusters of places with similar values of the indicator has varied over time.
Investment and growth in Europe during the Golden Age
2009
During the ‘Golden Age’, the high investment rates reached by the European countries have been considered crucial in explaining growth. The literature about the Golden Age has emphasized supply-side explanations based on structural change, the reconstruction effort and the catch-up hypothesis, but also demand-side explanations focused on the effects of demand stability for promoting high rates of investment. In this article we have focused our attention on the evolution of the user cost of capital for explaining the high rates of investment. Our hypothesis is that the increase in investment rates was propelled by the decline in the user cost of capital, the consequence largely of the drop i…