Economic Modeling and Inference
()
About this ebook
Economic Modeling and Inference takes econometrics to a new level by demonstrating how to combine modern economic theory with the latest statistical inference methods to get the most out of economic data. This graduate-level textbook draws applications from both microeconomics and macroeconomics, paying special attention to financial and labor economics, with an emphasis throughout on what observations can tell us about stochastic dynamic models of rational optimizing behavior and equilibrium. Bent Jesper Christensen and Nicholas Kiefer show how parameters often thought estimable in applications are not identified even in simple dynamic programming models, and they investigate the roles of extensions, including measurement error, imperfect control, and random utility shocks for inference. When all implications of optimization and equilibrium are imposed in the empirical procedures, the resulting estimation problems are often nonstandard, with the estimators exhibiting nonregular asymptotic behavior such as short-ranked covariance, superconsistency, and non-Gaussianity. Christensen and Kiefer explore these properties in detail, covering areas including job search models of the labor market, asset pricing, option pricing, marketing, and retirement planning. Ideal for researchers and practitioners as well as students, Economic Modeling and Inference uses real-world data to illustrate how to derive the best results using a combination of theory and cutting-edge econometric techniques.
- Covers identification and estimation of dynamic programming models
- Treats sources of error--measurement error, random utility, and imperfect control
- Features financial applications including asset pricing, option pricing, and optimal hedging
- Describes labor applications including job search, equilibrium search, and retirement
- Illustrates the wide applicability of the approach using micro, macro, and marketing examples
Related to Economic Modeling and Inference
Related ebooks
Monopsony in Motion: Imperfect Competition in Labor Markets Rating: 0 out of 5 stars0 ratingsLearning and Expectations in Macroeconomics Rating: 4 out of 5 stars4/5The Mathematics of Banking and Finance Rating: 0 out of 5 stars0 ratingsThe Economics of Climate Change: Adaptations Past and Present Rating: 0 out of 5 stars0 ratingsSocial Choice and Welfare Rating: 0 out of 5 stars0 ratingsMacroeconomics: Private and Public Choice Rating: 3 out of 5 stars3/5Mathematical Finance Rating: 0 out of 5 stars0 ratingsStudies in Macroeconomic Theory: Redistribution and Growth Rating: 0 out of 5 stars0 ratingsBusiness Cycles, Indicators, and Forecasting Rating: 0 out of 5 stars0 ratingsStudies in Macroeconomic Theory: Employment and Inflation Rating: 0 out of 5 stars0 ratingsG7 Current Account Imbalances: Sustainability and Adjustment Rating: 0 out of 5 stars0 ratingsStochastic Modelling of Social Processes Rating: 0 out of 5 stars0 ratingsUnderstanding Institutions: The Science and Philosophy of Living Together Rating: 4 out of 5 stars4/5Super Deciders: The Science and Practice of Making Decisions in Dynamic and Uncertain Times Rating: 0 out of 5 stars0 ratingsDemographic Deception: Exposing the Overpopulation Myth and Building a Resilient Future Rating: 0 out of 5 stars0 ratingsNormalized Financial Wrongdoing: How Re-regulating Markets Created Risks and Fostered Inequality Rating: 0 out of 5 stars0 ratingsTrends in Comparative Law and Economics Rating: 0 out of 5 stars0 ratingsThe Blank Swan: The End of Probability Rating: 0 out of 5 stars0 ratingsContra Keynes and Cambridge: Essays, Correspondence Rating: 5 out of 5 stars5/5Globalisation contested: An international political economy of work Rating: 0 out of 5 stars0 ratingsNew York City Mutual Savings Banks, 1819-1861 Rating: 0 out of 5 stars0 ratingsWhen will I Ever Use This? Rating: 0 out of 5 stars0 ratingsBeyond Crisis: The Financial Performance of India's Power Sector Rating: 0 out of 5 stars0 ratingsTangible Strategies for Intangible Assets Rating: 0 out of 5 stars0 ratingsWorld Development Indicators 2014 Rating: 0 out of 5 stars0 ratingsThe Unfinished Revolution: How to Make Technology Work for Us--Instead of the Other Way Around Rating: 3 out of 5 stars3/5When Tradition Turns Into Innovation: How Firms Can Create and Appropriate Value Through Tradition Rating: 0 out of 5 stars0 ratingsCapital and Interest Rating: 0 out of 5 stars0 ratingsHandbook of Computational Econometrics Rating: 0 out of 5 stars0 ratings
Economics For You
Sex Trafficking: Inside the Business of Modern Slavery Rating: 4 out of 5 stars4/5Divergent Mind: Thriving in a World That Wasn't Designed for You Rating: 4 out of 5 stars4/5The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5A History of Central Banking and the Enslavement of Mankind Rating: 5 out of 5 stars5/5Economics For Dummies, 3rd Edition Rating: 5 out of 5 stars5/5Economix: How and Why Our Economy Works (and Doesn't Work), in Words and Pictures Rating: 4 out of 5 stars4/5The Hard Truth About Soft Skills: Soft Skills for Succeeding in a Hard Wor Rating: 3 out of 5 stars3/5Economics 101: From Consumer Behavior to Competitive Markets--Everything You Need to Know About Economics Rating: 4 out of 5 stars4/5How to Be Everything: A Guide for Those Who (Still) Don't Know What They Want to Be When They Grow Up Rating: 4 out of 5 stars4/5Confessions of an Economic Hit Man, 3rd Edition Rating: 5 out of 5 stars5/5Everybody Lies: Big Data, New Data, and What the Internet Can Tell Us About Who We Really Are Rating: 4 out of 5 stars4/5Wise as Fu*k: Simple Truths to Guide You Through the Sh*tstorms of Life Rating: 4 out of 5 stars4/5Maslow's Hierarchy of Needs: Gain vital insights into how to motivate people Rating: 5 out of 5 stars5/5Chip War: The Fight for the World's Most Critical Technology Rating: 4 out of 5 stars4/5Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism Rating: 4 out of 5 stars4/5Getting to Yes with Yourself: (and Other Worthy Opponents) Rating: 4 out of 5 stars4/5The Myth of Capitalism: Monopolies and the Death of Competition Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5The Physics of Wall Street: A Brief History of Predicting the Unpredictable Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5Talking to My Daughter About the Economy: or, How Capitalism Works--and How It Fails Rating: 4 out of 5 stars4/5Disrupting Sacred Cows: Navigating and Profiting in the New Economy Rating: 0 out of 5 stars0 ratingsNickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5The Spirit Level: Why Greater Equality Makes Societies Stronger Rating: 4 out of 5 stars4/5The Lords of Easy Money: How the Federal Reserve Broke the American Economy Rating: 4 out of 5 stars4/5Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Rating: 4 out of 5 stars4/5
Reviews for Economic Modeling and Inference
0 ratings0 reviews