Nauki Humanistyczne i Społeczne

Central European Journal of Economic Modelling and Econometrics

Zawartość

Central European Journal of Economic Modelling and Econometrics | 2015 | No 4

Abstrakt

We consider the Debreu private ownership economy in which all consumption plans belong to a proper linear subspace of the commodity-price space ℝl. This geometric property of consumption sets means that there is a dependency between quantities of some commodities in all consumption plans. Competitive mechanism makes producers adjust their plans of action to the same dependency. It results in the mild evolution of the production sector to offer production plans which are also contained in the given subspace of ℝl. Modified production system and the initial consumption system can form an economy in equilibrium. The aim of this paper is to model gentle changes of producers’ activity that give equilibrium in the Debreu economy with consumption system reduced to a proper subspace of ℝl without considering additional costs.

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Autorzy i Afiliacje

Agnieszka Lipieta

Abstrakt

Maximum score estimation is a class of semiparametric methods for the coefficients of regression models. Estimates are obtained by the maximization of the special function, called the score. In case of binary regression models it is the fraction of correctly classified observations. The aim of this article is to propose a modification to the score function. The modification allows to obtain smaller variances of estimators than the standard maximum score method without impacting other properties like consistency. The study consists of extensive Monte Carlo experiments.

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Autorzy i Afiliacje

Marcin Owczarczuk

Abstrakt

Finite mixture and Markov-switching models generalize and, therefore, nest specifications featuring only one component. While specifying priors in the general (mixture) model and its special (single-component) case, it may be desirable to ensure that the prior assumptions introduced into both structures are compatible in the sense that the prior distribution in the nested model amounts to the conditional prior in the mixture model under relevant parametric restriction. The study provides the rudiments of setting compatible priors in Bayesian univariate finite mixture and Markov-switching models. Once some primary results are delivered, we derive specific conditions for compatibility in the case of three types of continuous priors commonly engaged in Bayesian modeling: the normal, inverse gamma, and gamma distributions. Further, we study the consequences of introducing additional constraints into the mixture model’s prior on the conditions. Finally, the methodology is illustrated through a discussion of setting compatible priors for Markov-switching AR(2) models.

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Autorzy i Afiliacje

Łukasz Kwiatkowski

Instrukcja dla autorów


The Central European Journal of Economic Modelling and Econometrics bases on a fully electronic editorial system available at cejeme.com, cejeme.org, cejeme.eu or cejeme.pl. This web-based editorial tracking software enables a paper-free operation of the key editorial functions of the Journal. Papers are submitted for publication electronically via electronic system (see the link "Submit article"). Also the system provides free access to the electronic form of each issue. In the review process the Central European Journal of Economic Modelling and Econometrics obeys the double blind policy. Authors submitting articles to the Central European Journal of Economic Modelling and Econometrics must follow the guidelines available at: http://www.cejeme.com/submissionguidelines.aspx. Any manuscript which does not conform to instructions will be rejected.


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