Illustrates the analytical content of the global slack hypothesis in the context of variant of the New Open-Economy Macro model under the assumptions of both producer currency pricing and local currency. The model predicts that the Phillips curve for domestic CPI inflation will be flatter under most plausible parameterizations, the more important international trade is to the domestic economy. The model also predicts that foreign output gaps will matter for inflation dynamics, along with the domestic output gap. When the Phillips curve includes the terms of trade gap rather than the foreign output gap, the response of domestic inflation to the domestic output gap is the same as in the closed-economy case ¿ceteris paribus.¿ This is a print on demand report.
This work is a detailed description of different discrete and continuous univariate and multivariate distributions with applications in economics, different financial problems, and other scenarios in which these recently developed statistical models have been applied in recent years. They include actuarial statistics, stochastic frontier analysis, duration models, population geography, income and wealth distribution, physical economics and tourism, among others. Each distribution is dealt with in a separate chapter, along with descriptions of all possible applications. The authors also provide a detailed analysis of the proposed probabilistic families, discussing their relationship with existing models, statistical properties, analyzing their strengths and weaknesses, similarities and differences, different estimation methods, along with comments on possible applications and extensions. Simulation methods are given for most of the models presented. Many of the probabilistic models shown, together with their applications in the fields mentioned above, are a result of numerous research articles published by the authors and other researchers, mainly based on classical formulations, which have been the foundations of more general models. This volume contains an extensive updated bibliography from journals and books on statistics, mathematics, economics, actuarial sciences and computer science. This book is an essential manual for researchers, professionals and, in general, for graduate students in computer science, engineering, bioinformatics, statistics and mathematics since the concise writing style makes the book accessible to a broad audience.
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