Hasil untuk "Economics as a science"

Asaph Azaria, A. Ekblaw, Thiago Vieira et al.

A. Zeileis, Susanne Köll, Nathaniel P. Graham

Clustered covariances or clustered standard errors are very widely used to account for correlated or clustered data, especially in economics, political sciences, or other social sciences. They are employed to adjust the inference following estimation of a standard least-squares regression or generalized linear model estimated by maximum likelihood. Although many publications just refer to "the" clustered standard errors, there is a surprisingly wide variety of clustered covariances particularly due to different flavors of bias corrections. Furthermore, while the linear regression model is certainly the most important application case, the same strategies can be employed in more general models (e.g. for zero-inflated, censored, or limited responses). In R, functions for covariances in clustered or panel models have been somewhat scattered or available only for certain modeling functions, notably the (generalized) linear regression model. In contrast, an object-oriented approach to "robust" covariance matrix estimation - applicable beyond lm() and glm() - is available in the sandwich package but has been limited to the case of cross-section or time series data. Now, this shortcoming has been corrected in sandwich (starting from version 2.4.0): Based on methods for two generic functions (estfun() and bread()), clustered and panel covariances are now provided in vcovCL(), vcovPL(), and vcovPC(). These are directly applicable to models from many packages, e.g., including MASS, pscl, countreg, betareg, among others. Some empirical illustrations are provided as well as an assessment of the methods' performance in a simulation study.

A. Hsing, J. Ioannidis

Salisu Garba Abdullahi, Ajibu Jonas, Riliwan Olalekan Olanrewaju et al.

Macroeconomics and finance drive bond markets in developing countries, allowing governments to raise money for businesses and infrastructure. However, many factors in developing countries like Nigeria hinder the growth of the bond market. This study investigates a novel contribution by focusing exclusively on the Nigerian bond market and considering a set of macroeconomic drivers that have not been studied collectively. The study applies the Autoregressive Distributive Lag (ARDL) model to examine the short-run dynamics between key macrofinancial drivers and the Nigerian bond market. The findings show that an increase in fiscal deficit does not support the development of the bond market in Nigeria. Similar results are found for GDP per capita, inflation, interest rates, and banking scale; all negatively affect bond market development. However, domestic debt and stock market development positively promote bond market development. The policy implications offered from these findings are to redirect their spending to projects that have the potential to stimulate economic activities that help the government generate more revenue. Policymakers should also cut unnecessary spending on recurrent expenditure, which is a significant part by implementing efficient fiscal discipline.

Intan Kusuma Pratiwi

Purpose — This research aims to identify the factors that influence customers in using digital Islamic banking services by modifying the UTAUT2 model to include Perceived Credibility and Perceived Risk variables. Method — This research employs a quantitative approach to test and validate the hypotheses formulated. The study population consists of Islamic bank customers in Indonesia. For sample selection, a purposive sampling technique was employed, with the inclusion criterion being that respondents must be Islamic bank customers who have utilized digital Islamic banking services. Data were collected from 373 Islamic bank customers through online Google Forms. The data analysis technique utilized in this research is the Partial Least Squares (PLS) method, conducted using SmartPLS software. Result — The research results indicate that nearly all UTAUT2 variables significantly impact customers' adoption of digital Islamic banking services. Specifically, Perceived Credibility significantly influences customers' adoption of these services, and similarly, Perceived Risk significantly affects customers' adoption of digital Islamic banking services. Contribution — This research introduces a novel framework by modifying the UTAUT2 model, incorporating the variables of Perceived Credibility and Perceived Risk as extensions to the UTAUT2 model.

M. L. Dorofeev

The development of methodology for analyzing efficiency is acute today due to fundamental basis of budget system functioning. The last ten years proved the importance of social policy and the welfare system during periods of uncertainty and economic crises. In 2022 the vector of Russian economy development changed from west to east and the country will face a long-term opposition through unprecedented sanctions and challenges to its economy transformation. The article puts forward a simple ratio method of analyzing efficiency of budget expenses aimed at overcoming poverty in Russian regions, systematizes the most frequently mentioned in academic literature methods of researching efficiency of expenses on social policy, investigates the method of analyzing the utmost efficiency and provides conclusions about its low practical significance. The article proposes to use the author’s approach to ratio analysis supplemented with ranking method, plotting heat maps and estimating basic descriptive statistics. Research findings demonstrate its high theoretic and practical value, especially as a preliminary stage of the research within the frames of a complex analytical approach to assessing efficiency of expenses on social policy allotted from consolidated budgets of Russian Federation entities.

J. D. Farmer, Cameron Hepburn, Penny Mealy et al.

F. Creutzig, S. Lohrey, X. Bai et al.

Non-technical summary Manhattan, Berlin and New Delhi all need to take action to adapt to climate change and to reduce greenhouse gas emissions. While case studies on these cities provide valuable insights, comparability and scalability remain sidelined. It is therefore timely to review the state-of-the-art in data infrastructures, including earth observations, social media data, and how they could be better integrated to advance climate change science in cities and urban areas. We present three routes for expanding knowledge on global urban areas: mainstreaming data collections, amplifying the use of big data and taking further advantage of computational methods to analyse qualitative data to gain new insights. These data-based approaches have the potential to upscale urban climate solutions and effect change at the global scale. Technical summary Cities have an increasingly integral role in addressing climate change. To gain a common understanding of solutions, we require adequate and representative data of urban areas, including data on related greenhouse gas emissions, climate threats and of socio-economic contexts. Here, we review the current state of urban data science in the context of climate change, investigating the contribution of urban metabolism studies, remote sensing, big data approaches, urban economics, urban climate and weather studies. We outline three routes for upscaling urban data science for global climate solutions: 1) Mainstreaming and harmonizing data collection in cities worldwide; 2) Exploiting big data and machine learning to scale solutions while maintaining privacy; 3) Applying computational techniques and data science methods to analyse published qualitative information for the systematization and understanding of first-order climate effects and solutions. Collaborative efforts towards a joint data platform and integrated urban services would provide the quantitative foundations of the emerging global urban sustainability science.

JOÃO SICSÚ

RESUMO O artigo discute metas, funcionalidade e resultados do processo de fixação de preços relativos no Brasil e na Argentina no período pré-desinflação, ou seja, antes do Plano Real e do Plano Cavallo, respectivamente.

LUIZ CARLOS BRESSER-PEREIRA, GILBERTO TADEU LIMA

ABSTRACT This paper criticizes the idea, widespread today, of the need to seek micro-foundations for macroeconomics. The authors argue that these two fields of economics, micro and macroeconomics, use different methodological approaches. Microeconomics deals with economic problems according to a logical-deductive methodology, while macroeconomics is more characterized by a historical-inductive approach. The attempt to reduce macroeconomics to microeconomics, or vice versa, brings only an impoverishment to science and economic debate, in which, ideally, there should be room for a great pluralism of ideas and theoretical currents.

Gregory A. Cajete

This essay presents an overview of foundational considerations and perceptions which collectively form a framework for thinking about Indigenous community building in relationship to the tasks of addressing the real challenges, social issues, and consequences of climate change. The ideas shared are based on a keynote address given by the author at the International Conference on Climate Change, Indigenous Resilience and Local Knowledge Systems: Cross-time and Cross-boundary Perspectives held at the National Taiwan University on 13–14 December 2019. The primary audience for this essay is Indigenous Peoples and allies of Indigenous Peoples who are actively involved in climate change studies, sustainable community building, and education. As such, it presents the author’s personal view of key orientations for shifting current paradigms by introducing an Indigenized conceptual framework of community building which can move Indigenous communities toward revitalization and renewal through strategically implementing culturally responsive Indigenous science education, engaging sustainable economics and sustainability studies. As an Indigenous scholar who has maintained an insider perspective and has worked extensively with community members around issues of culturally responsive science education, the author challenges all concerned to take Indigenous science seriously as an ancient body of applied knowledge for sustaining communities and ensuring survival over time and through generations. The author also challenges readers to initiate new thinking about how to use Indigenous science, community building, and education as a tool and a body of knowledge which may be integrated with appropriate forms of Western science in new and creative ways that serve to sustain and ensure survival rather than perpetuate unexamined Western business paradigms of community development.

A. Bitušíková

A large number of studies within the social sciences have been devoted to the relationship between cultural heritage and cultural/ heritage tourism development in recent years and even decades. This area of study has been an object of interest for numerous disciplines, from economics, geography, sociology and history, to ethnology, sociocultural anthropology, museology and cultural studies. The study aims to present selected theories on cultural heritage and heritage tourism based on recent theoretical concepts, and to reflect their implementation within a particular national and regional context based on a case study of the Banská Bystrica Self-Governing Region, Slovakia.

Andreea-Maria Copaceanu

Customers feedback is a valuable asset for businesses, that can be used in order to improve their performance. One of the fastest spreading areas today in computer science - Sentiment Analysis, helps to extract precious information from textual data, in order to identify the feeling of a statement. This research aims to build a classifier to predict customers’ satisfaction, based on Amazon reviews dataset, for different brands of mobile phones. The paper proposes a comparison between four text classification algorithms - Naïve Bayes, Support Vector Machine, Decision Tree and Random Forest, using different feature extraction techniques, such as Bag of words and TF-IDF. In addition, the models are evaluated using accuracy, precision, recall and F-score metrics. Our experiments revealed that Support Vector Machine achieves the best results and is very suitable for classification of the sentiment on product reviews.

Econometrics Editorial Office

Peer review is the driving force of journal development, and reviewers are gatekeepers who ensure that <i>Econometrics</i> maintains its standards for the high quality of its published papers [...]

Benjamin A. Olken

In 2019, Abhijit Banerjee, Esther Duflo, and Michael Kremer received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. These three scholars were recognized “for their experimental approach to alleviating global poverty”. This paper reviews the contributions of these three scholars in the field of development economics, to put this contribution in perspective. I highlight how the experimental approach helped to break down the challenges of understanding economic development into a number of component pieces, and I contrast this to understanding development using macroeconomic aggregates. I discuss pioneering contributions in understanding the challenges of education, service delivery, and credit markets in developing countries, as well as how the experimental approach has spread to virtually all aspects of development economics.

J. Leeman, Barbara Baquero, M. Bender et al.

Healthcare settings and systems have been slow to adopt and implement many effective cancer prevention and control interventions. Understanding the factors that determine successful implementation is essential to accelerating the translation of effective interventions into practice. Many scholars have studied the determinants of implementation, and much of this research has been guided by the Consolidated Framework for Implementation Research (CFIR). The CFIR categorizes implementation determinants at five levels (characteristics of the intervention, inner setting, individual, processes, and outer setting). Of these five levels, determinants at the level of the outer setting are the least developed. Extensive research in fields other than healthcare suggest that determinants at the level of the outer setting (e.g., funding streams, contracting practices, and public policy) play a central role in shaping when and how an organization implements new structures and practices. Thus, a more comprehensive understanding of outer-setting determinants is critical to efforts to accelerate the implementation of effective cancer control interventions. The Cancer Prevention and Control Research Network (CPCRN) created a cross-center workgroup to review organizational theories and begin to contribute to the creation of a future framework of constructs related to outer setting determinants. In this paper, we report findings from the review of three organizational theories: Institutional Theory, Transaction Cost Economics, and Contingency Theory. To demonstrate the applicability of this work to implementation science and practice, we have applied findings to three case studies of CPCRN researchers' efforts to implement colorectal cancer screening interventions in Federally Qualified Health Centers.

Isabel Melguizo

Este artículo estudia la persistencia del desacuerdo en un modelo similar a Melguizo (2019), relajando dos supuestos importantes. Primero, las opiniones iniciales de los individuos son variables aleatorias, y segundo, los individuos pueden tener distintos grados de homofilia. Con respecto a la primera extensión, se encuentra que el desacuerdo persiste con más probabilidad en el atributo que exhibe la mayor media de la distribución de las diferencias en actitudes medias iniciales. Respecto a la segunda, la magnitud del desacuerdo y la velocidad de convergencia en ´el incrementan con respecto al modelo original.

A. Carroll, Shelby Hallman, K. Umstead et al.

Objective Entrepreneurship and innovative product design in health care requires expertise in finding and evaluating diverse types of information from a multitude of sources to accomplish a number of tasks, such as securing regulatory approval, developing a reimbursement strategy, and navigating intellectual property. The authors sought to determine whether an intensive, specialized information literacy training program that introduced undergraduate biomedical engineering students to these concepts would improve the quality of the students’ design projects. We also sought to test whether information literacy training that included active learning exercises would offer increased benefits over training delivered via lectures and if this specialized information literacy training would increase the extent of students’ information use. Methods A three-arm cohort study was conducted with a control group and two experimental groups. Mixed methods assessment, including a rubric and citation analysis, was used to evaluate program outcomes by examining authentic artifacts of student learning. Results Student design teams that received information literacy training on topics related to medical entrepreneurship and health care economics showed significantly improved performance on aspects of project performance relevant to health care economics over student design teams that did not receive this training. There were no significant differences between teams that engaged in active learning exercises and those that only received training via lectures. Also, there were no significant differences in citation patterns between student teams that did or did not receive specialized information literacy training. Conclusions Information literacy training can be used as a method for introducing undergraduate health sciences students to the health care economics aspects of the medical entrepreneurship life cycle, including the US Food and Drug Administration regulatory environment, intellectual property, and medical billing and reimbursement structures.

Conor Clarke, A. Kozinski

Hiremath Ka, Halepyati As, Bellakki Ma et al.

Rice – Rice is the predominant cropping system being adopted by the farmers’ long back in upper krishna and tunga bhadra projects being the largest irrigation projects in Karnataka. At present, the system being practiced is creating lot of problems with International Journal of Current Microbiology and Applied Sciences ISSN: 2319-7706 Volume 8 Number 02 (2019) Journal homepage: http://www.ijcmas.com