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This book systematically and thoroughly covers the vast literature on the nonparametric and semiparametric statistics and econometrics that has evolved over the last five decades. Within this framework this is the first book to discuss the principles of the nonparametric approach to the topics covered in a first year graduate course in econometrics, e.g. regression function, heteroskedasticity, simultaneous equations models, logit-probit and censored models. Nonparametric and semiparametric methods potentially offer considerable reward to applied researchers, owing to the methods' ability to adapt to many unknown features of the data. Professors Pagan and Ullah provide intuitive explanations of difficult concepts, heuristic developments of theory, and empirical examples emphasizing the usefulness of the modern nonparametric approach. The book should provide a new perspective on teaching and research in applied subjects in general and econometrics and statistics in particular.
Mathematical statistics --- Quantitative methods (economics) --- Econometrics. --- Mathematical statistics. --- Economics --- Econométrie --- Statistique mathématique --- Economie politique --- Statistical methods. --- Méthodes statistiques --- Econometrics --- Statistical methods --- 330.115 --- AA / International- internationaal --- 303.5 --- 330.015195 --- -Economic theory --- Political economy --- Social sciences --- Economic man --- Mathematics --- Statistical inference --- Statistics, Mathematical --- Statistics --- Probabilities --- Sampling (Statistics) --- Economics, Mathematical --- Econometrie --- Theorie van correlatie en regressie. (OLS, adjusted LS, weighted LS, restricted LS, GLS, SLS, LIML, FIML, maximum likelihood). Parametric and non-parametric methods and theory (wiskundige statistiek). --- -Econometrie --- 330.115 Econometrie --- -Mathematics --- Economic theory --- Econométrie --- Statistique mathématique --- Méthodes statistiques --- Economic statistics --- Theorie van correlatie en regressie. (OLS, adjusted LS, weighted LS, restricted LS, GLS, SLS, LIML, FIML, maximum likelihood). Parametric and non-parametric methods and theory (wiskundige statistiek) --- Business, Economy and Management --- Economics - Statistical methods
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We extend a small New Keynesian structural model used for monetary policy analysis to address a richer class of policy issues that arise in open economy analysis. We draw a distinction between absorption and domestic output, and as the difference between the two is effectively the current account, there is now an explicit accumulation or decumulation of foreign liabilities in response to various shocks affecting the system. Such stock equilibria can now have an impact back on to the flows in the domestic economy. We perform simulations using parameters calibrated to the Canadian economy and compare the differences in impulse responses from the original model. Advantages in a forecasting environment owing to the ability to impose explicit projections about imports and exports are also exposed.
Monetary policy --- Economic forecasting. --- Economics --- Forecasting --- Economic indicators --- Econometric models. --- Exports and Imports --- Foreign Exchange --- Trade: General --- International Lending and Debt Problems --- Empirical Studies of Trade --- International economics --- Currency --- Foreign exchange --- External debt --- Imports --- Exports --- Real exchange rates --- Terms of trade --- Debts, External --- Economic policy --- nternational cooperation --- Canada --- Nternational cooperation
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This book provides a unified analysis of the theory of economic policy, presenting static and dynamic aspects of both the fixed and flexible objective policy problems. The authors conceive of the abstract theory of economic policy as the interaction of policy possibilities with policy-making requirements. Policy possibilities are depicted by a known, linear model relating sets of targets, instruments and other variables. Policy-making requirements are imposed in two forms: directly by nominating a specific fixed target in the tradition of Tinbergen; and indirectly by specifying preferences about targets - the flexible target associated with Theil.
Economic policy and planning (general) --- Economic policy. --- Statics and dynamics (Social sciences) --- Politique économique --- Statique et dynamique (Sciences sociales) --- Economic policies --- 338.22 --- Economic policy --- AA / International- internationaal --- 331.31 --- 330.00 --- Dynamics and statics (Social sciences) --- Equilibrium (Social sciences) --- Economics --- Social evolution --- Social sciences --- Sociology --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Economische organisatieleer. Economisch beleid. Economische politiek --- Economisch beleid. --- Economische en sociale theorieën: algemeenheden. --- 338.22 Economische organisatieleer. Economisch beleid. Economische politiek --- Politique économique --- Economische en sociale theorieën: algemeenheden --- Economisch beleid --- Economische politiek en planning (algemeen) --- Business, Economy and Management
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This paper lays out a structural model that incorporates key features of monetary transmission in typical emerging-market economies, including a bank-credit channel and the role of external debt accumulation on country risk premia and exchange rate dynamics. We use an SVAR representation of the model to study the monetary transmission in Brazil. We find that interest rate changes have swifter effects on output and inflation compared to advanced economies and that exchange rate dynamics plays a key role in this connection. Importantly, the response of inflation to monetary policy shocks has grown stronger and the output-inflation tradeoff improved since the introduction of inflation targeting.
Inflation (Finance) --- Transmission mechanism (Monetary policy) --- Monetary policy --- Econometric models. --- Monetary management --- Monetary transmission mechanism --- Economic policy --- Currency boards --- Money supply --- Finance --- Natural rate of unemployment --- Foreign Exchange --- Inflation --- Money and Monetary Policy --- Production and Operations Management --- Price Level --- Deflation --- Macroeconomics: Production --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Macroeconomics --- Currency --- Foreign exchange --- Monetary economics --- Exchange rates --- Output gap --- Real exchange rates --- Bank credit --- Prices --- Production --- Economic theory --- Credit --- Brazil
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Econometrie --- Cycles economiques --- Modeles --- Prevision --- Econometrie --- Cycles economiques --- Modeles --- Prevision
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