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Book part
Publication date: 25 July 1997

Arnold Zellner

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Applying Maximum Entropy to Econometric Problems
Type: Book
ISBN: 978-0-76230-187-4

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Book part
Publication date: 1 January 2008

Arnold Zellner

After briefly reviewing the past history of Bayesian econometrics and Alan Greenspan's (2004) recent description of his use of Bayesian methods in managing policy-making…

Abstract

After briefly reviewing the past history of Bayesian econometrics and Alan Greenspan's (2004) recent description of his use of Bayesian methods in managing policy-making risk, some of the issues and needs that he mentions are discussed and linked to past and present Bayesian econometric research. Then a review of some recent Bayesian econometric research and needs is presented. Finally, some thoughts are presented that relate to the future of Bayesian econometrics.

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Bayesian Econometrics
Type: Book
ISBN: 978-1-84855-308-8

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Book part
Publication date: 30 October 2020

Andrew Farrant

This chapter explores a number of relatively unknown aspects of the controversy over Milton Friedman’s March 1975 visit to Chile through the analytical framework provided…

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This chapter explores a number of relatively unknown aspects of the controversy over Milton Friedman’s March 1975 visit to Chile through the analytical framework provided by James M. Buchanan’s late 1950s assessment of the economist-physician analogy. The chapter draws upon a range of archival and neglected primary sources to show that the topics which generally rear their head in any contemporary discussion of Friedman’s visit to Chile – for example, whether it is appropriate to provide policy advice to a dictator – were aired in a largely private mid-1970s exchange between Friedman and a number of professional associates. In particular, the controversy over Friedman and Chile began several months before Friedman arrived in Santiago.

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Research in the History of Economic Thought and Methodology: Including a Symposium on Sir James Steuart: The Political Economy of Money and Trade
Type: Book
ISBN: 978-1-83867-707-7

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Article
Publication date: 1 January 1986

ROGER N. CONWAY and RON C. MITTELHAMMER

In the last two decades there has been considerable progress made in the development of alternative estimation techniques to ordinary least squares (OLS) regression. The…

Abstract

In the last two decades there has been considerable progress made in the development of alternative estimation techniques to ordinary least squares (OLS) regression. The search for alternative estimators has no doubt been motivated by the observance of erratic OLS estimator behavior in cases where there are too few observations, multicollinearity problems, or simply “information‐poor” data sets. Imprecise and unreliable OLS coefficient estimates have been the result.

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Studies in Economics and Finance, vol. 10 no. 1
Type: Research Article
ISSN: 1086-7376

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Topics in Identification, Limited Dependent Variables, Partial Observability, Experimentation, and Flexible Modeling: Part A
Type: Book
ISBN: 978-1-78973-241-2

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Book part
Publication date: 1 January 2008

Siddhartha Chib, William Griffiths, Gary Koop and Dek Terrell

Bayesian Econometrics is a volume in the series Advances in Econometrics that illustrates the scope and diversity of modern Bayesian econometric applications, reviews some…

Abstract

Bayesian Econometrics is a volume in the series Advances in Econometrics that illustrates the scope and diversity of modern Bayesian econometric applications, reviews some recent advances in Bayesian econometrics, and highlights many of the characteristics of Bayesian inference and computations. This first paper in the volume is the Editors’ introduction in which we summarize the contributions of each of the papers.

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Bayesian Econometrics
Type: Book
ISBN: 978-1-84855-308-8

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Book part
Publication date: 25 July 1997

Abstract

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Applying Maximum Entropy to Econometric Problems
Type: Book
ISBN: 978-0-76230-187-4

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Book part
Publication date: 19 November 2019

Ting Zhang

Facing the aging workforce but older workers’ vulnerability in the labor market, this chapter empirically explores factors and policy implications to enhance older…

Abstract

Facing the aging workforce but older workers’ vulnerability in the labor market, this chapter empirically explores factors and policy implications to enhance older workers’ entered employment rates (EER) after exiting the national workforce program. After reviewing older workers’ attributes and the unique methods to train them, the chapter examines demographic, socioeconomic, and program attributions to older workers’ EER, controlling for cyclical changes in the labor market. The chapter relies on three sets of models including logistic regression, multi-level mixed-effect regression, and multilevel mixed effect logistic regression models, as well as longitudinal Workforce Investment Act Standardized Record Data and Bureau of Labor Statistics unemployment data. Older dislocated workers and older adults are examined separately. Some Workforce Innovation and Opportunity Act training and related service combinations are identified to contribute to older adults and older dislocated workers’ EER and to inform strategic decision-making about future allocations of funds and policy efforts to serve older workers.

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Advances in Industrial and Labor Relations
Type: Book
ISBN: 978-1-83909-192-6

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Book part
Publication date: 25 July 1997

Abstract

Details

Applying Maximum Entropy to Econometric Problems
Type: Book
ISBN: 978-0-76230-187-4

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Article
Publication date: 1 March 1996

M. Kabir Hassan and William H. Sackley

This study examines the stock market reactions to an involuntary adjustment to loan‐loss reserves by the write‐downs of Argentinean loans by major banks with Argentinean…

Abstract

This study examines the stock market reactions to an involuntary adjustment to loan‐loss reserves by the write‐downs of Argentinean loans by major banks with Argentinean loan exposure. This event has escaped investigation in the empirical literature of the LDC debt crisis. A seemingly unrelated regression study, rather than a Brown and Warner (1980) event study, is employed to investigate two pairs of hypotheses, namely the new‐information vs. information‐leakage hypothesis and the rational‐pricing vs. investor‐contagion hypothesis, using daily stock market data. Sample banks are grouped into three portfolios (highly exposed multinational banks, mildly exposed regional wholesale banks and unexposed or nominally exposed regional consumer banks) to test the investor‐contagion effect. The results indicate that the stock market adjusts quickly to new information, thereby providing evidence of semi‐strong‐form market efficiency. Unlike previous research, this research finds strong evidence for an investor‐contagion effect.

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Managerial Finance, vol. 22 no. 3
Type: Research Article
ISSN: 0307-4358

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