Showing 1 - 10 of 54
Scientists and epistemologists agree that a scientific law must be relatively simple and not contradicted by the available evidence. We propose and test one such law pertaining to international economics, the triple-parity law. It integrates three well-known equilibrium conditions, which are...
Persistent link: https://www.econbiz.de/10005537441
Persistent link: https://www.econbiz.de/10005537669
Persistent link: https://www.econbiz.de/10005345456
Models based on agents has been widely used to study the paradigmatic emergence of cooperation in social systems. In the Spatial Prisoners' Dilemma game introduced by Martin Nowak and Robert May, the agents are greedy and imitate indiscriminately the action of the wealthiest neighbor. Other...
Persistent link: https://www.econbiz.de/10005537490
Persistent link: https://www.econbiz.de/10005537657
We continue our research into the Quasi Monte Carlo simulation method and its application in macroeconometrics. Prior research indicated Quasi Monte Carlo simulation to be superior to traditional Monte Carlo methods. Now we address additional important issues including the robustness of the...
Persistent link: https://www.econbiz.de/10005132871
In recent years simulation-based estimation of multinomial probit (MNP) models has attracted an increasing interest among econometricians. With the help of more powerful and cheaper computers, MNP models have become a well-accepted alternative to multinomial logit (MNL) models that impose the...
Persistent link: https://www.econbiz.de/10005132872
This paper analyzes some asymptotic results for a new estimator of integrated volatility in a continuous-time diffusion process of high frequency data (used in asset pricing finance). The estimator, which is computationally efficient, is based on the quadratic variation of the second order...
Persistent link: https://www.econbiz.de/10005345054
Persistent link: https://www.econbiz.de/10005345450
In this paper, we specify a theoretical dynamic oligopoly model with regard to asymmetric firms. We then estimate a structural dynamic model of demand and pricing relations for the semiconductor industry. Using quarterly firm-level output and cost data as well as industry prices from 1974 to...
Persistent link: https://www.econbiz.de/10005345557