Format:
1 Online-Ressource (xxxvi, 673 Seiten)
ISBN:
9781849508421
Series Statement:
Contributions to economic analysis v. 261
Content:
Analogous approximation and function space problems arise in time series approaches. A Volterra expansion in the time domain with a finite number of terms cannot span the space of possible time-series solution processes from the state space structures of economic theory. Hence when sample size is finite, all structural and time-series approximating specifications, whether dynamic or static, drive an unavoidable wedge between econometrics and economic theory. No easy solution exists to this inherently deep problem in econometric modeling and testing. In the time series literature, Barnett has designed and run a competition among tests for nonlinear and chaotic structure. The purpose was to investigate paradoxes that arose in that literature following his publication of findings of nonlinearity and chaos in some economic time series. The literature on modeling and filtering out linear structure from time series is now highly advanced.
Content:
But many unsolved problems remain in the literature on modeling or filtering out various forms of nonlinear structure from time series. The results of Barnett's competition have cast much needed light on those problems and the relative properties of the various available competing approaches. Contributions to time series modeling and inference in the time domain and the frequency domain are provided in Part 4
Content:
Over the past 25 years, William Barnett, who is a coeditor of this volume, has advanced the state of the art of this subject in many directions. He has contributed many new modeling and inference approaches, such as the Laurent series flexible functional form approach, the Muntz-Szatz series seminonparametric approach, the generalized hypocycloidal utility tree approach, and an aggregated convergence approach within the space of stochastic differential equations. Many of Barnett's innovations contain the earlier Taylor series and CES approaches as nested special cases. He also has contributed extensively to the literature on aggregation over approximating specifications in econometrics, as well as to aggregation over economic agents and goods in economic theory. In addition, his work in those areas has motivated new approaches by others, such as the generalized symmetric Barnett approach originated by Diewert and Wales (1987).
Note:
Financial firm production of monetary services : a generalized symmetric Barnett variable profit function approach / Jeong Ho Hahm -- Financial firm's production and supply-side monetary aggregation under dynamic uncertainty / Ge Zhou -- The joint allocation of leisure and goods expenditure / W.A. Barnett -- Tastes and technology : curvature is not sufficient for regularity / William A. Barnett -- Pollak and Wachter on the household production function approach / William A. Barnett -- Maximum likelihood and iterated Aitken estimation of nonlinear systems of equations / William A. Barnett -- A test of normality in nonlinear systems of consumer demand equations / William A. Barnett -- Random sets and confidence procedures / William A. Barnett -- The aggregation-theoretic monetary aggregates are chaotic and have strange attractors : an econometric application of mathematical chaos / Ping Chen --
,
Robustness of nonlinearity and chaos tests to measurement error, inference method, land sample size / Mark J. Jensen -- Time series cointegration tests and nonlinearity / Travis D. Nesmith -- Has chaos been discovered with economic data? / Melvin J. Hinich -- A single-blind controlled competition among tests for nonlinearity and chaos / Mark J. Jensen -- Definitions of second-order approximation and of flexible functional form / W.A. Barnett -- The global properties of the minflex laurent, generalized leontief, and translog flexible functional forms / J.M. Binner -- The differential approach / W.A. Barnett -- The minflex laurent translog flexible functional form / W.A. Barnett
,
The three-dimensional global properties of the minflex laurent, generalized leontief and translog flexible functional forms1 / Michael D. Wolfe -- The global properties of the two minflex laurent flexible functional forms / Michael Wolfe -- The Miintz-Szatz demand system : an application of a globally well-behaved series expansion1 / Andrew B. Jonas -- Semi-parametric estimation of the Asymptotically Ideal Model : the AIM demand system / Piyu Yue -- Semi-nonparametric Bayesian estimation of the Asymptotically Ideal Model : the AIM demand system / Piyu Yue -- Recursive subaggregation and a generalized hypocycloidal demand model1 / William A. Barnett -- A Monte Carlo study of tests of blockwise weak separability / Seungmook Choi -- The recent reappearance of the homotheticity restriction on preferences / William A. Barnett -- Semi-nonparametric Bayesian estimation of the Asymptotically Ideal Production Model1 / Michael Wolfe --
Language:
English
DOI:
10.1108/S0573-8555(2004)261
URL:
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