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Statistical Model Selection with 'Big Data'

Hendry, David; Doornik, Jurgen A. - Department of Economics, Oxford University - 2014

Big Data offer potential benefits for statistical modelling, but confront problems like an excess of false positives, mistaking correlations for causes, ignoring sampling biases, and selecting by inappropriate methods. We consider the many important requirements when searching for a data-based...

Persistent link: https://www.econbiz.de/10011095615

General-to-Specific Model Selection Procedures for Structural Vector Autoregressions

Krolzig, Hans-Martin - Department of Economics, Oxford University - 2003

Structural vector autoregressive (SVAR) models have emerged as a dominant research strategy in empirical macroeconomics, but suffer from the large number of parameters employed and the resulting estimation uncertainty associated with their impulse responses. In this paper we propose...

Persistent link: https://www.econbiz.de/10010820294

Comparison of Model Reduction Methods for VAR Processes

Krolzig, Hans-Martin; Brüggemann, Ralf - Department of Economics, Oxford University - 2003

The objective of this study is to compare alternative computerized model-selection strategies in the context of the vector autoregressive (VAR) modeling framework. The focus is on a comparison of subset modeling strategies with the general-to-specific reduction approach automated by PcGets....

Persistent link: https://www.econbiz.de/10011152495

Computer Automation of General-to-Specific Model Selection Procedures

Hendry, David; Krolzig, Hans-Martin - Department of Economics, Oxford University - 2000

Disputes about econometric methodology partly reflect a lack of evidence on alternative approaches. We reconsider econometric model selection from a computer-automation perspective, focusing on general-to-specific reductions, embodied in PcGets. Starting from a general congruent model, standard...

Persistent link: https://www.econbiz.de/10010605180

General-to-Specific Reductions of Vector Autoregressive Processes

Krolzig, Hans-Martin - Department of Economics, Oxford University - 2000

Unrestricted reduced form vector autoregressive (VAR) models have become a dominant research strategy in empirical macroeconomics since Sims (1980) critique of traditional macroeconometric modeling. They are however subjected to the curse of dimensionality. In this paper we propose...

Persistent link: https://www.econbiz.de/10011277850

Patent Laws and Innovation in China

Yueh, Linda - Department of Economics, Oxford University - 2006

China during the reform period. It appears that the patent laws have produced a stock of patents, where the success rates of … which factors would explain innovation in China. We find the main determinants of patents to be R&D expenditure and foreign … laws in China have been associated with innovation that has accompanied economic growth despite imperfections in the legal …

Persistent link: https://www.econbiz.de/10004977872

The Economic Causes and Consequences of Social Instability in China

Knight, John - Department of Economics, Oxford University - 2012

Social instability is a concept that economists rarely analyse, and yet it can lurk behind much economic policy-making. Chinaâ€™s leadership has often publicly expressed its concerns to avoid â€˜social instabilityâ€™. It is viewed as a threat both to the political order and to...

Persistent link: https://www.econbiz.de/10011133081

Minorities in Rural China: Poorer but Inherently Happier?

Knight, John; Shi, Li; Chang, Yuan - Department of Economics, Oxford University - 2014

This is a pioneering study of the determinants of the subjective well-being of ethnic minority people in rural China …

Persistent link: https://www.econbiz.de/10011159002

Subjective Well-being and Social Evaluation in a Poor Country

Knight, John; Gunatilaka, Ramani - Department of Economics, Oxford University - 2014

determinants of subjective well-being. Less attention has been paid to its normative implications. Taking China as a case study …

Persistent link: https://www.econbiz.de/10011159009

Carbon policy in a high-growth economy: The case of China

Bretschger, Lucas; Zhang, Lin - Department of Economics, Oxford University - 2014

because it would imply too high costs for fast growing economies like China. To quantify these costs we develop a general …

Persistent link: https://www.econbiz.de/10011183195