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Optimal Spatial Allocation of Labour Force and Employment Protection Legislation (EPL)

Abstract

The paper introduces a model of how workers rationally decide to which country within an area of monetary and economic integration they will move for the purposes of living and working. Since Mundell accomplished his pivotal respective analyses, the Optimal Currency Area (OCA) literature has highlighted the importance of the reallocation of the labour force within common currency areas in order to cushion asymmetric shocks. However, several studies have put into question whether such a mobility may be considered adequately effective and efficient within the Euro Zone and, hence, political solutions have been urgently requested. This paper, using the concept of employment protection legislation (EPL), looks at the impact of the different flexibility degrees applied among national labour markets on the international labour movements within the Euro Zone, and it then proposes a reform of such in terms of the degrees of flexibility that could achieve the optimal point.

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Return on investment in education. Case study on education in Romania

Abstract

The aim of this study is to develop, test and validate based on a conceptual research model, the influence of education on the GDP/capita, starting from relevant theories and empirical models from literature or implementing additional impact models and variables. Building on the model developed by Mincer (1995) on the yield rates of investment in education, we applied econometric models for Romania, for the period 1960-2010. The results led to a main conclusion, namely, the importance of investment in education is undeniable, it has positive effect on the economic growth of Romania.

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The perfect regression and causality test: A solution to regression problems

References Asteriou D., Hall S.G. (2011): Applied Econometrics. Palgrave MacMillan, London. Granger C.W.J. (1969): Investigating causal relations by econometric models and cross-spectral methods. Econometrica 37: 424-438. Granger C.W.J. (1980): Testing for causality: a personal viewpoint. Journal of Economic Dynamics and Control 2: 329-352. Shiffrin R.M. (2016): Drawing causal inference from big data. Proceedings of the National Academy of Sciences of the United States of America 113: 7308

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Hybrid Concepts of Long-Term Estimates for Value at Risk

References Best, P. (2000). Wartość narażona na ryzyko. Obliczanie i wdrażanie modelu VaR. Kraków: Oficyna Ekonomiczna, Dom Wydawniczy ABC. Enders, W. (1995). Applied Econometric Time Series , New York: John Wiley & Sons. Glen, J.D. (1992). Real Exchange Rates in the Short, Medium and Long Run. Journal of International Economics , 33. Kim, J. & Mina, J. (2000). ClearHorizon™ Technical Document. Forecasting Methodology for Horizons beyond Two Years

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The Efficiency of OLS Estimators of Structural Parameters in a Simple Linear Regression Model in the Calibration of the Averages Scheme

.B. (2015). Mathematical statistics for applied econometrics . CRC Press Spanos, A. (1986). Statistical Foundations of Econometric Modelling. Cambridge: Cambridge University Press. Stock, J.H., Watson, M.W. (2015). Introduction to Econometrics . PEARSON. Weintraub, E.R. (1982). Mathematics for Economics. An Integrated Approach . Cambridge: Cambridge University Press. Welfe, A. (2009). Ekonometria. Metody i zastosowania . Warszawa: Polskie Wydawnictwo Ekonomiczne. Wooldridge, J.M. (2009). Introductory Econometrics. A Modern Approach

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Selected Techniques of Detecting Structural Breaks in Financial Volatility

References Aggarwal, R., Inclán, C., Leal, R. (1999). Volatility in Emerging Stock Markets. Journal of Financial and Quantitative Analysis 34, 33-55. Andreou, E., Ghysels, E. (2002). Detecting Multiple Breaks in Financial Market Volatility Dynamics. Journal of Applied Econometrics 17, 579-600. Bollerslev, T. (1986). Generalized Autoregressive Conditional Heteroscedasticity. Journal of Econometrics 37, 307-327. Cheng, T. L. (2009). An Efficient Algorithm for Estimating a Change-point. Statistics

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Empirical Analysis of Volatility and Co-movements in Serbian Frontier Financial Market: MGARCH Approach

References Altay-Salih, A., Pinar M., Leyffer S. 2003. "Constrained Nonlinear Programming for Volatility Estimation with GARCH Models". http://www.siam.org/journals/sirev/45-3/40011.html Baur, D. 2004. "A Flexible Dynamic Correlation Model". Working Paper. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=377722 Bauwens, L., Laurent S. and Rombouts J. V. K. 2006. "Multivariate GARCH models: A Survey". Journal of Applied Econometrics : 79-109 Bollerslev

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Financial Depth and Efficiency, and Economic Growth Nexus in Saudi Arabia and Oman

References 1. Al-zubi, K., Al-Rjoub, S. and Abu-Mharebi, E. (2006). Financial Development and Economic Growth: A new Empirical evidence from the MENA countries, 1989-2001. Applied Econometrics and international Development, Vol. 6(3), 78-95 2. Ayadi, R., Arbak,E.Sami, B.N,and De Groen, W.P.(2013). Financial Development, Bank Efficiency and economic growth across the Mediterranean. MEDPRO Technical Report No 30,March , 2013 3. Bongini,P., Malgorzata,I.D. Smage,P and Witkowski,B.(2017). Financial Development and

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A simple solution to the specification error

R eferences Alghalith M. (2018): The perfect regression and causality test: A solution to regression problems. Biometrical Letters 55: 45–48. Asteriou D., Hall, S.G. (2011): Applied Econometrics. Palgrave MacMillan, London. Golden R., Henley S., White H., Kashner T. (2016): Generalized information matrix tests for detecting model misspecification. Econometrics 4: 1–24. Granger C. W. J. (1969): Investigating causal relations by econometric models and cross-spectral methods. Econometrica 37: 424–438. Kleinberg S. (2012): Causality

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An Econometric Analysis of Engel’s Curve: Household Food and Clothing Consumption in Turkey

References [1] Banks, J., Blundell, R., Lewbel, A., 1997, Quadratic Engel Curves and Consumer Demand, The Review of Economics and Statistics , 79(4): 527-539. [2] Belsley, D.A., Kuh, E., Welsch, R.E., 1980, Regression Diagnostic: Identifying Influential Data and Sources of Collinearity . New York: Wiley. [3] Blundell, R., Duncan, A., Pendakur, K., 1998, Semiparametric Estimation of Consumer Demand, Journal of Applied Econometrics 13(5): 435-461. [4] Byrne, P., Capps, O.Jr , Saha, A

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