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Sustainable Heterogeneity as the Unique Socially Optimal Allocation for Almost All Social Welfare Functions
Harashima, Taiji - Volkswirtschaftliche Fakultät, … - 2012
and indefinitely satisfied (sustainable heterogeneity). With appropriate government interventions, such a path is always …
Persistent link: https://www.econbiz.de/10011259529
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Sustainable Heterogeneity in Exogenous Growth Models: The Socially Optimal Distribution by Government’s Intervention
Harashima, Taiji - Volkswirtschaftliche Fakultät, … - 2013
(sustainable heterogeneity). With appropriate government interventions, such a path is always achievable and is uniquely socially …
Persistent link: https://www.econbiz.de/10011259748
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Sustainable Heterogeneity: Inequality, Growth, and Social Welfare in a Heterogeneous Population
Harashima, Taiji - Volkswirtschaftliche Fakultät, … - 2010
heterogeneity. As is well known, heterogeneity in time preference results in substantial inequality. This paper shows that, even if … heterogeneous households are equally and indefinitely satisfied, and heterogeneity is sustainable on this path. The existence of a … by relying only on markets. Sustainable heterogeneity is politically fragile and requires rational―not unconditional …
Persistent link: https://www.econbiz.de/10008493034
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Estimation of the parameters of a linear expenditure system (LES) demand function for a small African economy
Nganou, Jean-Pascal - Volkswirtschaftliche Fakultät, … - 2005
The validity of the key behavioral parameters used in the calibration process of computable general equilibrium (CGE) models remains a debated issue in the CGE literature. CGE modelers prefer to borrow from the handful of estimates available in the literature rather than estimating these...
Persistent link: https://www.econbiz.de/10009644762
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Using sentiment to predict GDP growth and stock returns
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2008
This study sheds new light on the question of whether or not sentiment surveys, and the expectations derived from them, are relevant to forecasting economic growth and stock returns, and whether they contain information that is orthogonal to macroeconomic and financial data. I examine 16...
Persistent link: https://www.econbiz.de/10009647230
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The case for higher frequency inflation expectations
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2011
I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused on three survey measures of expected inflation: the...
Persistent link: https://www.econbiz.de/10009650037
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On the distribution of the adaptive LASSO estimator
Pötscher, Benedikt M.; Schneider, Ulrike - Volkswirtschaftliche Fakultät, … - 2007
We study the distribution of the adaptive LASSO estimator (Zou (2006)) in finite samples as well as in the large-sample limit. The large-sample distributions are derived both for the case where the adaptive LASSO estimator is tuned to perform conservative model selection as well as for the case...
Persistent link: https://www.econbiz.de/10005790270
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The Distribution of Model Averaging Estimators and an Impossibility Result Regarding Its Estimation
Pötscher, Benedikt M. - Volkswirtschaftliche Fakultät, … - 2006
The finite-sample as well as the asymptotic distribution of Leung and Barron's (2006) model averaging estimator are derived in the context of a linear regression model. An impossibility result regarding the estimation of the finite-sample distribution of the model averaging estimator is obtained.
Persistent link: https://www.econbiz.de/10005837243
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Can One Estimate the Unconditional Distribution of Post-Model-Selection Estimators ?
Leeb, Hannes; Pötscher, Benedikt M. - Volkswirtschaftliche Fakultät, … - 2005
We consider the problem of estimating the unconditional distribution of a post-model-selection estimator. The notion of a post-model-selection estimator here refers to the combined procedure resulting from first selecting a model (e.g., by a model selection criterion like AIC or by a hypothesis...
Persistent link: https://www.econbiz.de/10005619444
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Performance of Differential Evolution Method in Least Squares Fitting of Some Typical Nonlinear Curves
Mishra, SK - Volkswirtschaftliche Fakultät, … - 2007
No foolproof method exists to fit nonlinear curves to data or estimate the parameters of an intrinsically nonlinear function. Some methods succeed at solving a set of problems but fail at the others. The Differential Evolution (DE) method of global optimization is an upcoming method that has...
Persistent link: https://www.econbiz.de/10005621474