This chapter focuses on the measurement of standard of living and on the factors influencing its level. Specific attention is paid to the indicators of standard of living, and the frequent employment of GDP is discussed and compared with possible alternatives. Household income is also a factor...

How can we measure economic development? Is it in money terms or in human terms? If it is the second one, how can we measure economic development in human aspects? These questions had been asked and argued for several years. Human development concept and its index gives answer for these...

We use latent class analysis to categorize development experiences. This technique allows us to consider a broad range of country characteristics including per capita income growth, health, inequality, environmental performance, and life satisfaction. We show that each of these indicators is...

Impact of demographic features on economic development of India from 2001 - 2010 By Dr. Bhawna Rathore Population of a country is closely related to its economic growth. After the distraction caused by second world war in Germany and Japan, the efficient hard working educated and healthy...

This paper discusses regression models with aggregated covariate data. Reparameterized likelihood function is found to be separable when one endogenous variable corresponds to one instrument. In that case, the full-information maximum likelihood estimator has an analytic form, and thus...

This chapter proposes an up-to-date review of estimation strategies available for the Bayesian inference of GARCH-type models. The emphasis is put on a novel efficient procedure named AdMitIS. The methodology automatically constructs a mixture of Student-t distributions as an approximation to...

Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag (ADL) model is chosen. The results show that a...

Using Bayesian maximum likelihood and data for Portugal, I estimate a New Keynesian DSGE model allowing for the presence of non-Ricardian households and test the stability of the model's prediction when the fraction of liquidity-constrained households changes. In particular, I assess the impacts...