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- Climate change (1)
- Country assessment (1)
- Development (1)
- E-readiness (1)
- Economic analysis (1)
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- Hyperbolic discounting (1)
- ICTs (1)
- Index measures (1)
- Laplace approximation (1)
- Leverage effect (1)
- Measurement (1)
- Non-constant pure rate of time preference (1)
- Non-renewable resources (1)
- Numerical methods (1)
- Observational equivalence (1)
- Policy-making (1)
- Realized volatility (1)
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- Stern Review (1)
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Articles 1 - 3 of 3
Full-Text Articles in Physical Sciences and Mathematics
Impacts Of Information And Communication Technologies On Country Development: Accounting For Area Interrelationships, Robert J. Kauffman, Ajay Kumar
Impacts Of Information And Communication Technologies On Country Development: Accounting For Area Interrelationships, Robert J. Kauffman, Ajay Kumar
Research Collection School Of Computing and Information Systems
Single-item composite indices gauge ICT readiness at the country level but do not represent the direct impact of ICTs on a country's development. This paper describes a new approach to measuring the macrolevel impacts of ICTs across a range of development areas. The indirect effects of one area on others is taken into consideration by a simultaneous equation model that permits the inclusion of multiple development areas. The model is applied to data pertaining to four development areas in 64 countries: trade flows, agricultural productivity, R&D, and quality of life. ICT readiness is found to have a positive association with …
Numerical Analysis Of Non-Constant Pure Rate Of Time Preference: A Model Of Climate Policy, Tomoki Fujii, Larry Karp
Numerical Analysis Of Non-Constant Pure Rate Of Time Preference: A Model Of Climate Policy, Tomoki Fujii, Larry Karp
Research Collection School Of Economics
When current decisions affect welfare in the far-distant future, as with climate change, the use of a declining pure rate of time preference (PRTP) provides potentially important modeling flexibility. The difficulty of analyzing models with non-constant PRTP limits their application. We describe and provide software (available online) to implement an algorithm to numerically obtain a Markov perfect equilibrium for an optimal control problem with non-constant PRTP. We apply this software to a simplified version of the numerical climate change model used in the Stern Review. For our calibration, the policy recommendations are less sensitive to the PRTP than widely believed. …
A Semiparametric Stochastic Volatility Model, Jun Yu
A Semiparametric Stochastic Volatility Model, Jun Yu
Research Collection School Of Economics
This paper examines how volatility responds to return news in the context of stochastic volatility (SV) using a nonparametric method. The correlation structure in the classical leverage SV model is generalized based on a linear spline. In the new model the correlation between the return innovation and volatility innovation is dependent on the type of news arrived to the market. Theoretical properties of the proposed model are examined. A simulation-based maximum likelihood method is developed to estimate the new model. Simulations show that the estimation method provides reliable parameter estimates. The new model is fitted to daily and weekly data …