National Accounts-based Inverse Problems - Couverture rigide

Bwanakare, Second

 
9783110550436: National Accounts-based Inverse Problems
Couverture rigide
ISBN 10 : 3110550431 ISBN 13 : 9783110550436
Editeur : De Gruyter Open, 2017

Synopsis

Non-extensive Entropy Econometrics for Low Frequency Series provides a new and robust power-law-based, non-extensive entropy econometrics approach to the economic modelling of ill-behaved inverse problems. Particular attention is paid to national account-based general equilibrium models known for their relative complexity.
In theoretical terms, the approach generalizes Gibbs-Shannon-Golan entropy models, which are useful for describing ergodic phenomena. In essence, this entropy econometrics approach constitutes a junction of two distinct concepts: Jayne's maximum entropy principle and the Bayesian generalized method of moments. Rival econometric techniques are not conceptually adapted to solving complex inverse problems or are seriously limited when it comes to practical implementation. Recent literature showed that amplitude and frequency of macroeconomic fluctuations do not substantially diverge from many other extreme events, natural or human-related, once they are explained in the same time (or space) scale. Non-extensive entropy is a precious device for econometric modelling even in the case of low frequency series, since outputs evolving within the Gaussian attractor correspond to the Tsallis entropy limiting case of Tsallis q-parameter around unity. This book introduces a sub-discipline called Non-extensive Entropy Econometrics or, using a recent expression, Superstar Generalised Econometrics. It demonstrates, using national accounts-based models, that this approach facilitates solving nonlinear, complex inverse problems, previously considered intractable, such as the constant elasticity of substitution class of functions. This new proposed approach could extend the frontier of theoretical and applied econometrics.

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À propos de l?auteur

Second, Bwanakare, University of Information Technology and Management, Rzeszow, Poland

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
De Gruyter Open
Date d'édition
2017
Langue
anglais
ISBN 10 
3110550431
ISBN 13 
9783110550436
Reliure
Relié
Nombre de pages
218
Coordonnées du fabricant
non disponible
Personne responsable
non disponible