A Model as a Simplification of Reality There is no single model of an economic system. In general, a model is a simplified approximation of reality, and there must surely be many such approximations. Therefore, we have large and small models, real and nominal models, sector and aggregative models, dynamic and static models, long-and short-run models, and so on. The model being used at any one t...

Using German regional data for 1998, 2002 and 2006, this study reexamines the Oswald hypothesis, the conjecture that high levels of home ownership are linked to inferior outcomes in regional labor markets. Applying a set of controls for regional unemployment rates, three different econometric models are specified and estimated: a cross-sectional model, a pooled data model, and a model taking in...

Description: This study covers the outlook for products and services in Bandar Abbas. Estimates reported are given for the latent demand, or potential industry earnings (P.I.E.), for Bandar Abbas across hundreds of categories (in millions of U.S. dollars) and of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a Bandar Abbas vis-à-vis the world. Using ...

The classical approach to testing for structural change employs retrospective tests using a historical data set of a given length. Here we consider a wide array of fluctuation-type tests in a monitoring situation – given a history period for which a regression relationship is known to be stable, we test whether incoming data are consistent with the previously established relationship. Procedure...

This paper empirically analyzes the impact of several factors on a ‘conventionality index’ in the specific context of the cinema exhibition sector. To our knowledge, it is the first time that a standard conventionality index has been constructed for this purpose. Econometric analysis of the determinants of variation in this index provides decision-makers with an empirical focus for analyzing di...

China’s urbanization has resulted in significant changes in agricultural land use. However, understanding of the linkages between urbanization and fertilizer use intensity is limited. Using county-level panel data for Henan Province, 1995–2008 and panel econometric models, we investigate the impact of urbanization and other socioeconomic factors on fertilizer use intensity, with a focus on the ...

Description: This study covers the outlook for products and services in Apopa. Estimates reported are given for the latent demand, or potential industry earnings (P.I.E.), for Apopa across hundreds of categories (in millions of U.S. dollars) and of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a Apopa vis-à-vis the world. Using econometric models wh...

The bootstrap is a convenient tool for estimating standard errors of the parameters of complicated econometric models. Unfortunately, the fact that these models are complicated often makes the bootstrap extremely slow or even practically infeasible. This paper proposes an alternative to the bootstrap which is only based on estimation of one-dimensional parameters. The paper contains no difficul...