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Book part
Publication date: 18 March 2014

Kevin W. Caves and Hal J. Singer

In antitrust class-action litigation, courts are increasingly unlikely to accept the presumption that all class members were harmed by price-fixing among a group of firms…

Abstract

In antitrust class-action litigation, courts are increasingly unlikely to accept the presumption that all class members were harmed by price-fixing among a group of firms or by exclusionary behavior by a single firm. Econometric methods typically applied in antitrust and other settings estimate the average effect of the challenged conduct, but do not inform impact for individual class members. We present classwide econometric methods and statistical tests for detecting the existence (or lack thereof) of common impact and determining what proportion (if any) of the proposed class suffered injury in many class actions. We conclude that econometric tools can meaningfully inform the legal process, even when courts demand proof of common impact.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

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Book part
Publication date: 18 April 2018

Fred Mannering

Purpose – Information collected from police crash reports has long been the primary source of data for the analysis of factors that determine the likelihood of a crash…

Abstract

Purpose – Information collected from police crash reports has long been the primary source of data for the analysis of factors that determine the likelihood of a crash (crash frequency) and its resulting severity (measured in terms of the extent of injuries to vehicle occupants). Proper cross-sectional analyses techniques, covered in this chapter, are important for guiding safety policy and countermeasures.

Methodology – This chapter provides an overview of some of the more commonly used cross-sectional statistical and econometric methods, and discusses the nuances and their limitations with regard to how they are applied to typical crash-report data.

Findings – The wide variety of analytic methods available to safety researchers makes the selection of appropriate methods critical. This chapter provides important guidance for safety researchers in their choice of methodological approach.

Implications – Understanding the importance of proper model specification, unobserved heterogeneity, endogeneity and other factors covered in this chapter is extremely important in analysing safety data and must be given full consideration before any results are finalised.

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Safe Mobility: Challenges, Methodology and Solutions
Type: Book
ISBN: 978-1-78635-223-1

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Article
Publication date: 1 April 2003

Teresa Garcia and Ildefonso Grande

The main task when valuing land is to identify the variables affecting its value. This is critical when a large number of variables is involved. Furthermore, collinearity…

Abstract

The main task when valuing land is to identify the variables affecting its value. This is critical when a large number of variables is involved. Furthermore, collinearity and other econometric disturbances frequently occur in this type of research. Against this background, and in an effort to surmount these difficulties, this paper proposes and then tests some statistical techniques based on multivariate analysis. Multiple correspondence analysis helps to ensure rigour, simplicity and accuracy in the process of identifying the variables involved in the valuation of farmland. Finally, once the relevant variables have been identified, a model for the valuation of farmland plots is then specified.

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Journal of Property Investment & Finance, vol. 21 no. 2
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 3 April 2019

Saffet Erdoğan and Abdulkadir Memduhoğlu

The purpose of this paper is to examine the real estate sales in Turkey on a district basis to reveal the current state of real estate sales and any meaningful changes in…

Abstract

Purpose

The purpose of this paper is to examine the real estate sales in Turkey on a district basis to reveal the current state of real estate sales and any meaningful changes in the last period. The real estate market is important and is an indicator of the country’s general economic health, as real estate is seen as an investment.

Design/methodology/approach

As a powerful method of spatial analysis and evaluation, geographic information systems have been used to examine real estate data in both spatial and temporal ways. In this study, 14 years of sales data covering the years 2004 to 2017 obtained from government agencies on a district basis were evaluated using spatiotemporal methods. Several maps were produced using Getis-Ord Gi* and local Moran’s I indices, which showed the spatiotemporal change of sales and sales rates.

Findings

When looking at the maps, provinces such as Istanbul, Ankara, Izmir, Antalya and their surrounding districts have buoyant real estate markets compared to the other side of the country. Real estate sales are more stagnant in the eastern and northern parts of the country. In addition, the authors found that the growth rate of annual average real estate sales was approximately seven times higher than the annual average population growth.

Originality/value

This spatiotemporal study, which presents 14 years of performance data of the real estate market and, by extension, the economic situation, also highlights the regions that stand out for investment planning throughout the country. The results of spatiotemporal analysis also present a new way of real estate market visualization using maps with well-designed categorizations.

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Journal of European Real Estate Research, vol. 12 no. 2
Type: Research Article
ISSN: 1753-9269

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Book part
Publication date: 23 November 2011

Yu Yvette Zhang, Qi Li and Dong Li

This chapter reviews the recent developments in the estimation of panel data models in which some variables are only partially observed. Specifically we consider the…

Abstract

This chapter reviews the recent developments in the estimation of panel data models in which some variables are only partially observed. Specifically we consider the issues of censoring, sample selection, attrition, missing data, and measurement error in panel data models. Although most of these issues, except attrition, occur in cross-sectional or time series data as well, panel data models introduce some particular challenges due to the presence of persistent individual effects. The past two decades have seen many stimulating developments in the econometric and statistical methods dealing with these problems. This review focuses on two strands of research of the rapidly growing literature on semiparametric and nonparametric methods for panel data models: (i) estimation of panel models with discrete or limited dependent variables and (ii) estimation of panel models based on nonparametric deconvolution methods.

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Missing Data Methods: Cross-sectional Methods and Applications
Type: Book
ISBN: 978-1-78052-525-9

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Article
Publication date: 7 August 2019

Dinh Doan Van

At present, countries are concerned about inflation and the impact of inflation on each country’s economic growth. This inflation has been said by economists that…

Abstract

Purpose

At present, countries are concerned about inflation and the impact of inflation on each country’s economic growth. This inflation has been said by economists that inflation is a phenomenon of currency and currency, which has caused inflation in some countries by their monetary policy. According to the economic theory of Karl Marx, Irving Fisher, Friedman, inflation is caused by a continuous increase in the money supply.

Design/methodology/approach

The economic theories of Fisher, Friedman and an econometric model are applied to analyse the relationship between money supply and inflation. Besides, Vietnam’s and China’s research data are also collected in the period of 2012-2016.

Findings

It is found out that the continuous increase in the money supply causes inflation in the long-term, but the continuous increase in the money supply growth does not cause inflation in a short time, this was analyzed based on the theory of monetary quantity. Moreover, Chia’s and Vietnam’s correlations of the money supply growth and inflation are 99.1 per cent. These correlations are very close.

Originality/value

Research results show that money supply and inflation are closely related, and the money supply directly affects economic growth. Therefore, the government should have the relevant monetary policy to grow the economy and proposals to make monetary policy, control inflation levels and stimulate economic growth.

Details

Journal of Financial Economic Policy, vol. 12 no. 1
Type: Research Article
ISSN: 1757-6385

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Article
Publication date: 10 September 2020

Faheem Aslam, Khurrum S. Mughal, Ashiq Ali and Yasir Tariq Mohmand

The purpose of this study is to develop a precise Islamic securities index forecasting model using artificial neural networks (ANNs).

Abstract

Purpose

The purpose of this study is to develop a precise Islamic securities index forecasting model using artificial neural networks (ANNs).

Design/methodology/approach

The data of daily closing prices of KMI-30 index span from Aug-2009 to Oct-2019. The data of 2,520 observations are divided into training and test data sets by using the 80:20 ratio, which corresponds to 2016 and 504 observations, respectively. In total, 25 features are used; however, in model selection step, based on maximum accuracy, top ten indicators are selected from several iterations of predictive models.

Findings

The results of feature selection show that top five influencing indicators on Islamic index include Bollinger Bands, Williams Accumulation Distribution, Aroon Oscillator, Directional Movement and Forecast Oscillator while Mesa Sine Wave is the least important. The findings show that the model captures much of the trend and some of the undulations of the original series.

Practical implications

The findings of this study may have important implications for investment and risk management by using index-based products.

Originality/value

Numerous studies proved that traditional econometric techniques face significant challenges in out-of-sample predictability due to model uncertainty and parameter instability. Recent studies show an upsurge of interest in machine learning algorithms to improve the prediction accuracy.

Details

Journal of Economic and Administrative Sciences, vol. 37 no. 2
Type: Research Article
ISSN: 1026-4116

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Article
Publication date: 1 April 1970

J.M. Samuels

Tests a new series of models which attempt to describe the relationship between advertising and sales. Describes an attempt to obtain information of this kind by…

Abstract

Tests a new series of models which attempt to describe the relationship between advertising and sales. Describes an attempt to obtain information of this kind by investigating the effect of advertising on sales and brand shares. States that a number of researchers are now attempting to develop models to explain the workings of the market for a particular product. Emphasises that the prime area of interest of the study is the effect of advertising on sales and brand shares. States the study does not have the objective of constructing a complete marketing model involving all the variables that are thought to influence a brand's share of a product. Concludes that many results herein are disappointing, but it is perhaps too optimistic to expect the models dealt with earlier to be successful.

Details

European Journal of Marketing, vol. 4 no. 4
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 9 August 2013

Lourdes Badillo‐Amador and Luis E. Vila

This paper aims to highlight the relevance of examining education and skill job‐worker mismatches as two different, although simultaneous, phenomena of the labor market…

Abstract

Purpose

This paper aims to highlight the relevance of examining education and skill job‐worker mismatches as two different, although simultaneous, phenomena of the labor market. Most previous literature does not take into account skill mismatch, and a number of papers deal with both kinds of mismatches as equivalent.

Design/methodology/approach

Spanish data from the European Community Household Panel (ECHP) survey for the year 2001 are used to examine the degree of statistical association between both education and skill mismatches, and to estimate wage equations as well as job satisfaction equations, considering satisfaction with pay, with the type of job and overall job satisfaction, in order to analyze the consequences of both types of mismatches from the workers’ viewpoint.

Findings

The statistical analysis shows that education and skill mismatches are weakly related in the Spanish labor market. The econometric analysis reveals that skill mismatches appear as key determinants of workers’ job satisfaction, while education mismatches have much weaker impacts, if any, on workers’ job satisfaction; however, both skill and education mismatches have negative impacts on wages.

Practical implications

The analysis points out that the research strategy that considers education mismatch as a proxy for the study of the effects of skill mismatch is rather weak because skill and education mismatches appear to capture different aspects of the accuracy of the job‐worker pairing, and, therefore, they have separate consequences for workers, both in monetary and non‐monetary terms. Skill mismatches are perceived by workers as a much more relevant problem than education mismatches. The wage and job satisfaction consequences of skill mismatches are strongly negative; to the contrary, education mismatches show much weaker effects.

Originality/value

The paper emphasizes that neglecting the effects of skill mismatch along with those of education mismatch in the analysis of the monetary and non‐monetary consequences of inadequate job‐worker pairing can lead to erroneous interpretations of the facts.

Details

International Journal of Manpower, vol. 34 no. 5
Type: Research Article
ISSN: 0143-7720

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Book part
Publication date: 21 August 2019

Apu Manna, Tarak Nath Sahu and Arindam Gupta

Abstract

Details

Governance-Led Corporate Performance: Theory and Practice
Type: Book
ISBN: 978-1-78973-847-6

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