Search results for "Econometric"
showing 10 items of 3780 documents
A Proposal for an Automatic Stabilizer in Social Justice
2019
Abstract Generally, social justice has two sides which are intercorrelated and inter-dependend: a) constitutive social justice (for example, the so called commutative social justice); b) regulative social justice (for example, the so called distributive social justice). The paper approaches the regulative social justice, more exactly, an automatic mechanism to get it. To this end, an automatic stabilizer to provide distributive social justice, according to the Rawlsian principle of difference. Such an automatic stabilizer is grounded on the wealth, more precise, on the share of the wealth which is not invested in order to benefit to the more disadvantaged class of the society. Paper does no…
On the limits to the long-period method in classical economics. A note
2001
On a first reading of Theory of Production, Kurz & Salvadori (1995) appear to confine the empirical domain of the long-period models of the classical theory of value and distribution to stationary economies with non-constant returns to scale and to growing economies with constant returns to scale. Such a reading is shown to be untenable since it merges the two levels of exploring the extension of a model and of testing a theoretical hypothesis. Conversely, the way Kurz & Salvadori tackle the problems of price dynamics and returns to scale in growing economies is shown to be compatible with what appears to be Sraffa's (implicit) strategy of research.
Adaptive trial design: a general methodology for censored time to event data.
2008
Adaptive designs allow a clinical trial design to be changed according to interim findings without inflating type I error. The Inverse Normal method can be considered as an adaptive generalization of classical group sequential designs. The use of the Inverse Normal method for censored survival data was demonstrated only for the logrank statistic. However, the logrank statistic is inefficient in the presence of nuisance covariates affecting survival. We demonstrate, how the Inverse Normal method can be applied to Cox regression analysis. The required independence between test statistics of the different stages of the trial can be obtained by two different approaches. One is using the indepen…
Hume’s guillotine and intelligent technologies
2021
AbstractEmerging intelligent society shall change the way people are organised around their work and consequently also as a society. One approach to investigating intelligent systems and their social influence is information processing. Intelligence is information processing. However, factual and ethical information are different. Facts concern true vs. false, while ethics is about what should be done. David Hume recognised a fundamental problem in this respect, which is that facts can be used to derive values. His answer was negative, which is critical for developing intelligent ethical technologies. Hume’s problem is not crucial when values can be assigned to technologies, i.e. weak ethic…
A Collective Binomial Learning Methodology
2013
In second-language learning, learners frequently have a poor environment for speaking and hearing the target language. Learning efficiency is thus limited. We propose a methodology involving the creation of temporary social structures. Collective interactions fed back among individuals and environment are constructed on a computer and practiced in a real world. A dynamic learning system which coherently ties together the practitioner’s design, the learner’s performance and the researcher’s theories is possible. Our results call for language learning structures to include adaptive spoken structures, in contrast with existing educational systems.
Trend Switching Processes in Financial Markets
2010
For an intriguing variety of switching processes in nature, the underlying complex system abruptly changes at a specific point from one state to another in a highly discontinuous fashion. Financial market fluctuations are characterized by many abrupt switchings creating increasing trends (“bubble formation”) and decreasing trends (“bubble collapse”), on time scales ranging from macroscopic bubbles persisting for hundreds of days to microscopic bubbles persisting only for very short time scales. Our analysis is based on a German DAX Future data base containing 13,991,275 transactions recorded with a time resolution of 10− 2 s. For a parallel analysis, we use a data base of all S&P500 stocks …
Life satisfaction and tax morale: The role of trust in government and cultural orientation
2022
Taxes are essential for a government to function correctly, because they fund public services and promote long-term growth in a country. Tax morale is a positive attitude toward taxation shaped by extrinsic and intrinsic motivations, including numerous psychological factors. However, these factors are far from completely clear and a better understanding of what drives tax morale can greatly help governments in the design of tax policies and their administration. In this paper we test the novel hypothesis that life satisfaction is one of the psychological aspects affecting tax morale. Using longitudinal data from the World Value Survey, we show that people more satisfied with their own life …
Does the GATT/WTO promote trade? After all, Rose was right
2019
This paper re-examines the effect of the GATT/WTO on trade using recent econometric developments that allow us estimating structural gravity equations with the Poisson pseudo-maximum likelihood (PPML) estimator on a large dataset that requires computing high-dimensional fixed effects. By doing so, we overcome computational limitations that are present in previous studies. In line with Rose’s (Am Econ Rev 94:98–114, 2004) seminal work, we find that, unlike regional trade agreements and currency unions, the GATT/WTO accession has not generated positive trade effects. This result is robust to the use of alternative measures of trade flows, across periods and country groups, to changes in the p…
Assessing the Enlargement and Deepening of the European Union
2008
This paper estimates a theoreticallymotivated gravity model to examine the effect of the European Union (EU) on trade and whet her the order of entry has affected the trade performance of member countries. Additionally, we analyse the impact of the diffe rent phases of EU integration on trade. The results show that both original countries and successive enlargements boost intra-b loc trade. Moreover, the results suggest that the deepening in the integration process has led to more trade creation among members. Finally, only the latter ph ase of the European integration process (the single currency) has increased trade with non-members.
Labour market response to globalisation: spain, 1880-1913
2010
Abstract This paper analyses the impact of globalisation (trade and migration) on the Spanish labour market between 1880 and 1913 by examining the influence that globalisation factors had on agricultural and industrial wages. Our results show that the nineteenth century grain invasion had a negative impact on agricultural wages, whereas the fall in wheat prices did not benefit industry workers. We also found that migration pushed up real agricultural and industrial wages. As agriculture was the main sector in the economy, the final impact was a wage decrease. The negative impact of trade on agricultural and industrial labour markets partly explains the trade policy response of “integral pro…