Search results for "Econometric"
showing 10 items of 3780 documents
SEA presidential address: Group connectivity and cooperation
2011
A model-free methodology is used for the first time to estimate a daily volatility index (VIBEX-NEW) for the Spanish financial market.We use a public data set of daily option prices to compute this index and showthat daily changes in VIBEXNEW display a negative, tight contemporaneous relationship with IBEX daily returns, contrary to other common volatility indicators, as an implied volatility indicator or a GARCH(1,1) conditional volatility model. This relationship is approximately symmetric to the sign on VIBEX-NEW changes and asymmetric to the IBEX-35 returns sign, which make it clearly a suitable volatility index for the Spanish stock market. We also examine the relationship between curr…
The Wage Curve, Once More with Feeling: Bayesian Model Averaging of Heckit Models
2018
The sensitivity of the wage curve to sample-selection and model uncertainty was evaluated with Bayesian methods. More than 8000 Heckit wage curves were estimated using data from the 2017 household survey of Bolivia. After averaging the estimates with the posterior probability of each model being true, the wage curve elasticity in Bolivia is close to -0.01. This result suggests that in this country the wage curve is inelastic and does not follow the international statistical regularity of wage curves.
Mean-Field Game Modeling the Bandwagon Effect with Activation Costs
2015
This paper provides a mean-field game theoretic model of the bandwagon effect in social networks. This effect can be observed whenever individuals tend to align their own opinions to a mainstream opinion. The contribution is threefold. First, we describe the opinion propagation as a mean-field game with local interactions. Second, we establish mean-field equilibrium strategies in the case where the mainstream opinion is constant. Such strategies are shown to have a threshold structure. Third, we extend the use of threshold strategies to the case of time-varying mainstream opinion and study the evolution of the macroscopic system.
Market for ideas and reception of physiocracy in Spain: some analytical and historical suggestions
1995
This essay aims to situate the phenomenon of the international spread of the economic ideas of a particular school of thought within the framework of the ‘market for ideas' approach outlined by George Stigler. On the one hand, the paper attempts to amplify the theoretical model of a demand-driven market for ideas, introducing the concepts of public goods, utility, transaction costs and other institutional variables, and on the other this analytical approach is applied to the Spanish market for ideas of the 18th century and its reception of physiocracy, obtaining a new perspective on the spread of ideas of the iconomistes in comparison with the existing literature.
A new indicator for higher education student performance
2014
The debate on academic achievement is a heated issue that involves all the higher education contexts. This paper attempts to provide an indicator that can make the measurement of university student performance easier and that can be easily applied to different systems, making comparisons more fair. The Italian University System is used as a starting point to make several considerations on the current measures and to build up a new performance indicator. Then, a generalization for other marking systems is shown and finally a quantile regression is performed to investigate some determinants of the new performance indicator, also with respect to the current one.
John Bates Clark on trusts: New light from the Columbia archives
2005
Public concern over the so called “trust problem” in the United States between the end of the nineteenth century and 1914, the year of the passage of the Clayton and Federal Trade Commission (FTC) Acts, was reflected in the considerable contemporary literature on the subject. Not surprisingly, professional economists actively participated in this debate. Their thinking directly and indirectly influenced the legislation of 1914 in a way that cannot be said of the Sherman Act of 1890 (Mayhew 1998). A survey of the most important of these professional writings shows that, among the several voices animating the discussion, John Bates Clark's was perhaps the most influential. In this connection,…
The Oxford Handbook of Professional Economic Ethics
2019
Ethics is primarily the study of what it means to do good—the good that we can create in society, good towards others, and good in our relations with each other and with the world that surrounds us...
“Don't Mention the War!” how Populist Right‐Wing Radicalism Became (Almost) Normal in Germany
2019
Alcune proprietà ed applicazioni finanziarie della media antiarmonica
1981
In questa Nota si ottengono alcune proprieta della media antiarmonica di ordine 2 utilizzando note leggi del pendolo composto e viene messo in evidenza che essa non e sempre una media interna.