166 research outputs found
Quantifying consumer preferences
No full textMeasuring consumer preferences and estimating demand systems / William A. Barnett, Apostolos Serletis -- The GFT utility function / Robert L. Basmann, Kathy Hayes, Michael McAleer, Ian McCarthy, Daniel J. Slottje -- The normalized quadratic expenditure function / W. Erwin Diewert, Kevin J. Fox -- EASI made easier / Krishna Pendakur -- Cost of living indexes and exact index numbers / W. Erwin Diewert -- The revealed preference approach to demand / Laurens Cherchye, Ian Crawford, Bram De Rock, Frederic Vermeulen -- Developments in nonparametric demand analysis : heterogeneity and nonparametrics / Stefan Hoderlein -- Modelling international tourist arrivals and volatility : an application to Taiwan / Chia-Lin Chang, Michael McAleer, Daniel J. Slottje -- Estimating the demand for quality with discrete choice models / Daniel J. Phaneuf, Roger H. von Haefen -- The construction and estimation of equivalence scales and their uses / Carsten Schröder -- The use of restricted regressions in estimating demand systems / Joseph G. Hirschberg, Jeanette N. Lye, Daniel J. Slottje -- The almost ideal and translog demand systems / Matthew T. Holt, Barry K. Goodwin -- The differential approach to demand analysis and the Rotterdam model / William A. Barnett, Apostolos Serletis -- The generalized quadratic expenditure system / Jeffrey T. LaFrance, Rulon D. Pope -- Introduction / Daniel J. SlottjeThis volume presents straightforward, innovative research on the estimation of demand systems and the measurement of consumer preferences. Demand studies and understanding consumer behavior remain two of the most important areas of analysis by practicing applied economists and econometricians. This volume also offers state of the art research in demand analysis, using modern econometric tools to analyze consumer behavior and estimate demand relationships for well known demand systems. This book will be aimed at a broad audience of economists and other social scientists; including generalists, graduate students, private sector economists and other
Modelling International Tourist Arrivals and Volatility: An Application to Taiwan
No full textChia-Lin Chang pertenece al Department of Applied Economics National Chung Hsing University Taichung, Taiwan.
Michael McAleer pertenece al Department of Quantitative Economics, Complutense University of Madrid.
Dan Slottje pertenece al FTI Consulting and Department of Economics Southern Methodist UniversityInternational tourism is a major source of export receipts for many countries worldwide. Although it is not yet one of the most important industries in Taiwan (or the Republic of China), an island in East Asia off the coast of mainland China (or the People’s Republic of China), the leading tourism source countries for Taiwan are Japan, followed by USA, Republic of Korea, Malaysia, Singapore, UK, Germany and Australia. These countries reflect short, medium and long haul tourist destinations. Although the People’s Republic of China and Hong Kong are large sources of tourism to Taiwan, the political situation is such that tourists from these two sources to Taiwan are reported as domestic tourists. Daily data from 1 January 1990 to 30 June 2007 are obtained from the National Immigration Agency of Taiwan. The Heterogeneous Autoregressive (HAR) model is used to capture long memory properties in the data. In comparison with the HAR(1) model, the estimated asymmetry coefficients for GJR(1,1) are not statistically significant for the HAR(1,7) and HAR(1,7,28) models, so that their respective GARCH(1,1) counterparts are to be preferred. These empirical results show that the conditional volatility estimates are sensitive to the long memory nature of the conditional mean specifications. Although asymmetry is observed for the HAR(1) model, there is no evidence of leverage. The QMLE for the GARCH(1,1), GJR(1,1) and EGARCH(1,1) models for international tourist arrivals to Taiwan are statistically adequate and have sensible interpretations. However, asymmetry (though not leverage) was found only for the HAR(1)model, and not for the HAR(1,7) and HAR(1,7,28) models.National Science Council, TaiwanAustralian Research CouncilFac. de Ciencias Económicas y EmpresarialesInstituto Complutense de Análisis Económico (ICAE)TRUEunpu
Measuring the Quality of Life across Countries.
No full textA multidimensional approach to measuring the quality of life across countries is introduced. The author operationalizes A. Sen's concept that other factors besides gross domestic product and mortality rates should be incorporated into any quality of life analysis. This paper examines twenty attributes for 126 countries in computing a new index. Copyright 1991 by MIT Press.
"Patent Activity and Technical Change"
No full textThis paper presents an aggregate production function of the generalized Fechner-Thurstone (GFT) form to analyze the impact of an important component of intellectual industrial property, namely patent activity, on technical change in the USA for the period 1947-1981. We define a technology-changer as a variable that has an impact on the elasticity of the marginal rate of technical substitution (mrts) between inputs of the GFT production function over time. Various types of US patent grant activity, specifically total, domestic, foreign, successful and unsuccessful patents, are used as instruments for the technology-changer. Using the GFT specification, the impacts of various technology-changers on the elasticity of the mrts between inputs are estimated directly. It is found that granted (or successful) patents, patents granted to foreign companies and individuals, total patent applications, and even unsuccessful patent applications, have significant impacts on the rates at which inputs are substituted for each other over time in production.
EW,Top Heavy: A Study of the Increasing Inequality of Wealth in America.New York: Twentieth Century Fund, 1995.
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