Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems
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 th...
محفوظ في:
| المؤلف الرئيسي: | |
|---|---|
| التنسيق: | Online |
| اللغة: | الإنجليزية |
| منشور في: |
De Gruyter
2021
|
| الموضوعات: | |
| الوصول للمادة أونلاين: | 23253 |
| الوسوم: |
لا توجد وسوم, كن أول من يضع وسما على هذه التسجيلة!
|
| _version_ | 1869522881501724672 |
|---|---|
| author | Bwanakare, Second |
| author_browse | Bwanakare, Second |
| author_facet | Bwanakare, Second |
| author_sort | Bwanakare, Second |
| collection | Directory of Open Access Books |
| description | 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. |
| format | Online |
| id | doab-20.500.12854ir-54737 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | De Gruyter |
| publisherStr | De Gruyter |
| record_format | ojs |
| spelling | doab-20.500.12854ir-547372023-12-20T15:53:53Z Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems Bwanakare, Second HB1-3840 general equilibrium macro-economic model econometrics generalized cross-entropy bic Book Industry Communication::K Economics, finance, business & management 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. 2021-02-11T21:07:01Z 2021-02-11T21:07:01Z 2017-08-10 13:47:31 2017 book 23253 9783110550764 9783110550443 https://directory.doabooks.org/handle/20.500.12854/54737 eng image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International https://doi.org/10.1515/9783110550443 De Gruyter 10.1515/9783110550443 10.1515/9783110550443 af2fbfcc-ee87-43d8-a035-afb9d7eef6a5 9783110550764 9783110550443 218 open access |
| spellingShingle | HB1-3840 general equilibrium macro-economic model econometrics generalized cross-entropy bic Book Industry Communication::K Economics, finance, business & management Bwanakare, Second Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems |
| title | Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems |
| title_full | Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems |
| title_fullStr | Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems |
| title_full_unstemmed | Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems |
| title_short | Non-Extensive Entropy Econometrics for Low Frequency Series. National Accounts-Based Inverse Problems |
| title_sort | non extensive entropy econometrics for low frequency series national accounts based inverse problems |
| topic | HB1-3840 general equilibrium macro-economic model econometrics generalized cross-entropy bic Book Industry Communication::K Economics, finance, business & management |
| topic_facet | HB1-3840 general equilibrium macro-economic model econometrics generalized cross-entropy bic Book Industry Communication::K Economics, finance, business & management |
| url | 23253 |
| work_keys_str_mv | AT bwanakaresecond nonextensiveentropyeconometricsforlowfrequencyseriesnationalaccountsbasedinverseproblems |