论文检索

结构突变下名义 GDP 的实时即时预测AI 解读

This paper provides early assessments of current U.S. Nominal GDP growth, which has been considered as a potential new monetary policy target. The nowcasts are computed using the exact amount of information that policy makers have available at the time predictions are made. However, real time information arrives at different frequencies and asynchronously, which poses the challenge of mixed frequencies, missing data, and ragged edges. This paper proposes a multivariate state…

消费者偏好与需求系统AI 解读

This paper is an up-to-date survey of the state-of-the-art in consumer demand modelling. We review and evaluate advances in a number of related areas, including different approaches to empirical demand analysis, such as the differential approach, the locally flexible functional forms approach, the semi-non-parametric approach, and a non-parametric approach. We also address estimation issues, including sampling theoretic and Bayesian estimation methods, and discuss the…

非线性与混沌检验的单盲受控竞赛AI 解读

Interest has been growing in testing for nonlinearity or chaos in economic data, but much controversy has arisen about the available results. This paper explores the reasons for these empirical difficulties. We designed and ran a single-blind controlled competition among five highly regarded tests for nonlinearity or chaos with ten simulated data series. The data generating mechanisms include linear processes, chaotic recursions, and nonchaotic stochastic processes; and both…

金融企业的货币服务生产：广义对称 Barnett 可变利润函数方法AI 解读

An alternative monetary-production model of financial firms is employed to investigate supply-side monetary aggregation. Financial firms are conceived to produce monetary services as outputs through financial intermediation. A new method for testing the existence of consistent monetary-output aggregates in financial firms' production technology is developed in terms of a multiproduct firm's variable profit function, and the method does not require homotheticity of the…

金融企业的货币服务生产：广义对称 Barnett 可变利润函数方法AI 解读

A financial firms' production model is employed to investigate monetary aggregation. Financial firms are conceived to produce monetary services as outputs through financial intermediation. A new method for testing the existence of consistent monetary output aggregates in financial firms' production technology is developed in terms of the variable profit function and the method does not require homotheticity of the aggregator function. The authors utilize a generalized…

摘要暂缺

摘要暂缺

分块弱可分性检验的蒙特卡洛研究AI 解读

Separability assumptions on functional structure have received a great deal of attention from econometricians and economic theorists because (1) separability provides the fundamental linkage between aggregation over goods and the maximization principles in economic theory, (2) separability provides the theoretical basis for partitioning the economy's structure into sectors and (3) separability provides a theoretical hypothesis, which can produce parameter restrictions,…

摘要暂缺

摘要暂缺

摘要暂缺

摘要暂缺

新的货币供应量指数与灵活 Laurent 需求系统AI 解读

The article begins by surveying the existing results on the new Divisia monetary aggregates. Charts display the differences in behavior between the Divisia aggregates and the Federal Reserve's official simple-sum monetary aggregates. The article then compares system-wide fit for the simple-sum and Divisia monetary aggregates when used as data in the joint estimation of a system of demand equations. The demand system is derived from a new Laurent expansion approximation to…

非线性方程组的最大似然与迭代 Aitken 估计AI 解读

For nonlinear equation systems, the properties of the MLE commonly have been deduced from related but inapplicable results in the statistical and econometric literature. Under specific regularity conditions, we build on the nonlinear GLS results of Malinvaud to derive the large-sample properties of the MLE and the limiting distribution of the asymptotic likelihood ratio statistic. We discuss iterative convergence conditions under which the iterated Aitken estimator locates a…