In this paper, we borrow some of the key concepts of nonequilibrium statistical systems, to develop a framework for analyzing a self-organizing-optimizing system of independent interacting agents, with nonlinear dynamics at the macro level that is based on stochastic individual behavior at the...

This paper studies the identification and estimation of the decision rules that in- dividuals use to determine their actions in games, based on a structural econo- metric model of non-equilibrium behavior in games. The model is based pri- marily on various notions of limited strategic reasoning,...

This paper examines whether there is a causal relationship between bank loans and deposits in the Vietnamese banking system and the efficiency of the use of loans and deposits by the Vietnamese banks. In a country such as Vietnam, where inter-bank money markets are relatively underdeveloped, one...

By using the Emirmahmutoglu-Kose bootstrap Granger non-causality method, this study explores the directions of causality among tourist arrivals, tourism receipts, energy consumption and economic growth for the top 10 most-visited countries (France, the USA, Spain, China, Italy, Turkey, Germany,...

This paper proposes a method for estimating the joint distribution of two or more variables when only their marginal distributions and the distribution of their aggregates are observed. Nonparametric identification is achieved by modelling dependence using a latent commonfactor structure....

We use a set of biomarkers to measure inequality of opportunity (IOp) in health in the UK. Applying a direct ex ante IOp approach, we find that inequalities in health attributed to circumstances account for a non-trivial part of the total health variation. For example, observed circumstances...

This paper analyses the relationship between health and socioeconomic status accounting for the role of breadth and persistence of multiple deprivation. Adopting a holistic approach to multidimensional deprivation, we construct measures of absolute and relative deprivation and use these measures...

There are over 3 billion searches globally on Google every day. This report examines whether Google search queries can be used to predict the present and the near future unemployment rate in Finland. Predicting the present and the near future is of interest, as the official records of the state...

This report examines whether Google search queries can be used to predict the present and the near future house prices in Finland. Compared to a simple benchmark model, Google searches improve the prediction of the present house price index by 7.5 % measured by mean absolute error. In addition,...

IPTS recently acquired a consumer internet clickstream database containing the full set of annual (2011) clickstream records for about 25.000 internet users in the five largest EU economies (UK, Germany, France, Italy and Spain). It contains time spend on each webpage and socio-economic...