Econometrics Commons^™

Measuring Spillover Effects Of Residential Amenity Improvements Using Spatial Hedonic Approach, Shruti Bishan Tandon

UNLV Theses, Dissertations, Professional Papers, and Capstones

The purpose of this dissertation is to develop a methodology for the estimation of the appropriate welfare benefits in the presence of spillover externalities. The ability to capture influences of the not so easily observed variables allow spatial lag models to measure the direct and indirect spillover effects. The direct effect measures the value of the property in question and the indirect captures the influences of neighboring properties, through a spatial multiplier effect.

Kim et al. (2003) through a path breaking approach estimated welfare benefits of air quality improvement. Their methodology captured spillover effects of amenity changes that lump both …

Does The Economy Determine The President? A Regression Model For Predicting Us Presidential Elections, Roy K. Roth

Undergraduate Economic Review

There is a prevalent belief that the economy determines the President. If the economy is good, the President keeps his job, if it is bad, he is out. A large body of econometric literature has been published on this topic. This paper takes a new approach. I look not at how the popular vote changes with economic conditions, but how the electoral vote changes. I further examine how these changes affect the probability that the incumbent party stays in office. I find that economic conditions may not be as important as they have been purported to be.

Incentivizing Biodiversity Conservation: The Ecological Icms In Brazil, Erin Franks

CMC Senior Theses

This study evaluates the effectiveness of the ecological ICMS (ICMS-e) in the Brazilian Amazon, an intragovernmental transfer for incentivizing biodiversity conservation. Tax funds are passed from state governments to municipalities in proportion to the amount of protected area within their borders; biological reserves, sustainable use areas, and indigenous lands are all considered. Econometric analysis using a fixed effects model found that the policy had little positive effect on increasing protected areas compared to the significant negative influence of poor land tenure, agricultural influences, and lack of monitoring for illegal deforestation. However, the policy may increase municipal governments' acceptance of and …

Estimating The Impact Of Cell Phone Laws On Car Accident Fatalities, Odinakachi Anyanwu

Pepperdine Policy Review

No abstract provided.

Singapore Consumer’S Inflation Expectations And Creation Of Singapore Index Of Inflation Expectations, Aurobindo Ghosh, Jun Yu

Research Collection School Of Economics

The aim of this report is to highlight a broad spectrum of issues that brings about the measurement of the disagreement and the uncertainity and the formation of inflation expectations among economic agents in Singapore.

Empirical Methods-A Review: With An Introduction To Data Mining And Machine Learning, Matt Bogard

Economics Faculty Publications

This presentation was part of a staff workshop focused on empirical methods and applied research. This includes a basic overview of regression with matrix algebra, maximum likelihood, inference, and model assumptions. Distinctions are made between paradigms related to classical statistical methods and algorithmic approaches. The presentation concludes with a brief discussion of generalization error, data partitioning, decision trees, and neural networks.

Correlates Of Economic Growth In Developing Countries: A Panel Cointegration Approach, Lonnie K. Stevans, James P. Neelankavil, Francisco L. Roman

Lonnie K. Stevans

The inflow of foreign direct investment (FDI) has been found to play a crucial role in the economic growth of receiving countries. Using panel cointegration techniques, this perception was found to be mitigated by an empirical approach that yields different results from previous studies. While the growth in real FDI has an influence on real GDP growth across developing countries in the short-run, year-to-year periods, it does not explain real GDP in the long-run. Rather, it appears to be the economic factors internal to a country that have the most influence on real GDP over time: human capital (measured by …

Regression Anatomy, Revealed, Valerio Filoso

Valerio Filoso

The Regression Anatomy (RA) theorem (Angrist and Pischke 2009) is an alternative formulation of the Frisch-Waugh-Lovell (FWL) theorem (Frisch and Waugh 1933; Lovell 1963), a key finding in the algebra of OLS multiple regression models. In this paper, we present a command, reganat, to implement graphically the method of RA. This addition complements the built-in Stata command avplot in the validation of linear models, producing bidimensional scatterplots and regression lines obtained controlling for the other covariates, along with sev- eral fine-tuning options. Moreover, the article provides (1) a fully worked-out proof of the RA theorem and (2) an explanation of …

On The Measurement Of Total Factor Productivity: A Latent Variable Approach, Marco Morales, Rodrigo Fuentes

Marco Morales

No abstract provided.

Transmisión De Shocks Y Acoplamiento Con Mercados Accionarios Externos: Efectos Asimétricos Y Quiebre Estructural, Marco Morales, Maria Jose Melendez, Guillermo Yáñez

Marco Morales

No abstract provided.

Using Econometrics: A Practical Guide, A. Studenmund

A. H. Studenmund

No abstract provided.

Men In Black: The Impact Of New Contracts On Football Referees’ Performances, Babatunde Buraimo, Alex Bryson, Rob Simmons

Dr Babatunde Buraimo

No abstract provided.

Improving The Teaching Of Econometrics At Pace University Using Stata, Gregory Colman

Cornerstone 3 Reports : Interdisciplinary Informatics

The goal of this grant was to improve the teaching of econometrics at Pace using the computer program, Stata, the most widely-used econometrics software among applied economists.

Participation And Engagement In Sport: A Double Hurdle Approach For The United Kingdom, Babatunde Buraimo, Brad Humphreys, Rob Simmons

Dr Babatunde Buraimo

This paper uses pooled cross-section data from four waves of the United Kingdom’s Taking Part Survey, 2005 to 2009, in order to investigate determinants of probability of participation and levels of engagement in sports. The two rival modelling approaches considered here are the double-hurdle approach and the Heckman sample selection model. The Heckman model proves to be deficient in several key respects. The double-hurdle approach offers more reliable estimates than the Heckman sample selection model, at least for this particular survey. The distinction is more than just statistical nuance as there are substantive differences in qualitative results from the two …

Lag Order Selection For An Optimal Autoregressive Covariance Matrix Estimator, Marco Morales

Marco Morales

No abstract provided.

The Real Yield Curve And Macroeconomic Factors In The Chilean Economy, Marco Morales

Marco Morales

No abstract provided.

Do Bank Mergers Create Shareholder Value? An Event Study Analysis, Varini Sharma

Award Winning Economics Papers

This paper investigates the economic role of bank mergers in creating shareholder value based on the idea that shareholder wealth will increase if the consolidation leads to the aforementioned gains. This paper is divided into seven sections. The second section of my paper provides an academic review of the literature, focusing on econometric theory that tests the gains in shareholder value and corporate synergies after a merger. The third section introduces a conceptual model I have designed using econometric tools to test how bank mergers create shareholder value. The fourth section embarks on a discussion about my ideal data followed …

Event Studies In Finance: Discussion, Carlo Drago

Carlo Drago

No abstract provided.

Econometric Studies Of Higher Education, Ronald G. Ehrenberg

Ronald G. Ehrenberg

[Excerpt] The economics of higher education goes back at least to Adam Smith, who suggested over 200 years ago in the Wealth of Nations that professors should get paid based upon the number of students enrolled in their classes. The econometrics of higher education is of much more recent vintage and emerged from the development of human capital theory and the efforts to estimate rates of return to education in the 1960s and 1970s. In the sections that follow, I survey the various strands of the literature on the econometrics of higher education that have developed during the last 40 …

The Relationship Between Poverty And Economic Growth Revisited, Lonnie K. Stevans, David N. Sessions

Lonnie K. Stevans

It has been shown in prior research that increased economic growth reduces poverty. Authors have also found that the effect of growth in GDP on poverty growth has either diminished or remained unchanged over time and the 1980s economic expansion in the U.S. had no affect on poverty. Using a formal error-correction model, we find that increases in economic growth are significantly related to reductions in the poverty rate for all families. Specifically, GDP growth was found to have a more pronounced effect on poverty during the expansionary periods of the 1960s, 1970s, 1980s, 1990s, and 2000s. Other findings include …

Gone In 60 Seconds: The Absorption Of News In A High-Frequency Betting Market, Babatunde Buraimo, David Peel, Rob Simmons

Dr Babatunde Buraimo

This paper tests for efficiency in a betting market that offers high-frequency data, the Betfair betting exchange for wagering on outcomes of English Premier League soccer matches. We find clear evidence of rapid adjustment of prices to large disturbances (news). Full adjustment takes place within a one minute interval after the news. This suggests that this particular wagering market is not just efficient at pre-match prices but is also efficient in the face of events within games.

Unit Roots And Cointegration, Lonnie K. Stevans

Lonnie K. Stevans

No abstract provided.

Investigating Omitted Variable Bias In Regression Parameter Estimation: A Genetic Algorithm Approach, Lonnie K. Stevans, David N. Sessions

Lonnie K. Stevans

Bias in regression estimates resulting from the omission of a correlated relevant variable is a well known phenomenon. In this study, we apply a genetic algorithm to estimate the missing variable and, using that estimated variable, demonstrate that significant bias in regression estimates can be substantially corrected with relatively high confidence in effective models. Our interest is restricted to the case of a missing binary indicator variable and the analytical properties of bias and MSE dominance of the resulting dependent error generated vector process. These findings are compared to prior results for the independent error proxy process. Simulations are run …

Aggregate Consumption Spending, The Stock Market, And Asymmetric Error Correction, Lonnie K. Stevans

Lonnie K. Stevans

In this study, we show how changes in wealth resulting from unanticipated changes in the value of equity holdings begin a process whereby households alter consumption growth in order to close the gap between actual and target spending. Because of changing uncertainty or equity price volatility over the stock market cycle, we found the time path of this adjustment to exhibit near random walk behavior during stock market downturns. Conversely, during “boom” periods, e.g. when the value of equities held by households was greater than the threshold, the growth in consumer spending was quick to eliminate the disparity between actual …

Myopia Of Health-Care Reform Using Business Models, Macinnes Kenneth, Vivian C. Mcalister

Vivian C. McAlister

Background: Health-care institutions have looked to business for models to respond to the requirement for reform. This has changed the perspective of institutions that were founded on charitable principles, and managed with liberal employment policies and deficit budgeting. Using lesions from supply-side management, hospitals are fragmenting into independent programs with demands to balance budgets regardless of the source of cost.

Methods: Costs from the institution’s perspective are compared with those of the payer (province) using an example of a proposal to reduce costs in the surgical program by buying disposable drapes.

Results: The actual cost of disposable drapes bought from …

Econometric Models And Economic Forecasts, Daniel Rubinfeld, Robert Pindyck

Daniel L. Rubinfeld

No abstract provided.

The Impact Of Omitting Promotion Variables On Simulation Experiments, David A. Weiskopf

David A Weiskopf

No abstract provided.

An Econometric Analysis Of The Determinants Of Investments By Insurance Companies In Nigeria, S. E. Omoruyi

Economic and Financial Review

The paper is divided into two parts. Part I discusses the concept of financial intermediation. Part II outlines the model of determinants of investments by the insurance industry and summarises the main findings and policy recommendations of the study.

An Econometric Model For Forecasting Industrial Electrical Sales For Indiana, Ronald E. Clarke

Graduate Thesis Collection

Projections of electrical energy sales constitutes the foundation for planning in the electric utility industry. Every distributor of electric energy, large or small, wholesaler or retailer, should have sales forecasts available upon which to base its physical and financial planning. Others associated with the industry, such as regulatory agencies and suppliers, also need such forecasts.

The purpose of this paper is to develop an econometric model for forecasting annual industrial kilowatt-hour sales for the State of Indiana. The model is designated so that State agencies, suppliers and individual companies can use the model.

Statistical Analysis Of Economic And Financial Data, Daniel Rubinfeld

Daniel L. Rubinfeld

No abstract provided.