The MIT Press - Econometrics & Statistical Methods
https://mitpress.mit.edu/taxonomy/term/733/0
enThe Econometrics of Corporate Governance Studies
https://mitpress.mit.edu/books/econometrics-corporate-governance-studies
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<p>A vast theoretical and empirical literature in corporate finance considers the interrelationships of corporate governance, takeovers, management turnover, corporate performance, corporate capital structure, and corporate ownership structure. Most of the studies look at two variables at a time. In this book, Sanjai Bhagat and Richard Jefferis argue that from an econometric viewpoint, the proper way to study the relationship between any two of these variables is to set up a system of simultaneous equations that specifies the relationships among the six variables. The specification and estimation of such a system of simultaneous equations, however, is nontrivial.<br /><br />The authors illustrate their argument with a discussion of the impact of corporate anti-takeover measures on takeovers and managerial job-tenure. During the past two decades, an overwhelming majority of publicly held US corporations have adopted anti-takeover measures. The authors show that, contrary to expectation, defense measures are ineffective in preventing takeovers and the frequency of CEO departures is unrelated to takeover defenses. At firms with poison pill defenses, however, there is a statistically significant relationship between management turnover and company performance.</p> </div>
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<a href="/authors/sanjai-bhagat">Sanjai Bhagat</a> </div>
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<a href="/authors/richard-h-jefferis">Richard H. Jefferis</a> </div>
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Econometrics & Statistical MethodsFinanceIndustrial OrganizationEconomics and FinanceThe MIT PressMITThe MIT PressSpring 2002Tue, 26 Jul 2016 18:19:02 +0000allbooks_importer190333 at https://mitpress.mit.eduUnderstanding Economic Forecasts
https://mitpress.mit.edu/books/understanding-economic-forecasts
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<p>Historically, the theory of forecasting that underpinned actual practice in economics has been based on two key assumptions? —that the model was a good representation of the economy and that the structure of the economy would remain relatively unchanged. In reality, forecast models are mis-specified, the economy is subject to unanticipated shifts, and the failure to make accurate predictions is relatively common.<br /><br />In the last decade, economists have developed new theories of economic forecasting and additional methods of forecast evaluation that make less stringent assumptions. These theories and methods acknowledge that the economy is dynamic and prone to sudden shifts. They also recognize that forecasting models, however good, are greatly simplified representations that will be incorrect in some respects. One advantage of these newer approaches is that we can now account for the different results of competing forecasts.<br /><br />In this book academic specialists, practitioners, and a financial journalist explain these new developments in economic forecasting. The authors discuss how forecasting is conducted, evaluated, reported, and applied by academic, private, and governmental bodies, as well as how forecasting might be taught and what costs are induced by forecast errors. They also describe how econometric models for forecasting are constructed, how properties of forecasting methods can be analyzed, and what the future of economic forecasting may bring.</p> </div>
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<p>“...Of value and interest to novice and specialist alike.”—<i>Choice</i></p> </div>
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<a href="/authors/david-f-hendry">David F. Hendry</a> </div>
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<a href="/authors/k-anders-ericsson">K. Anders Ericsson</a> </div>
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Econometrics & Statistical MethodsEconomics and FinanceThe MIT PressMITThe MIT PressFall 2001TextbookMon, 18 Jul 2016 15:01:04 +0000allbooks_importer194646 at https://mitpress.mit.eduMathematics for Economics
https://mitpress.mit.edu/books/mathematics-economics
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<p>This text offers a comprehensive presentation of the mathematics required to tackle problems in economic analyses. To give a better understanding of the mathematical concepts, the text follows the logic of the development of mathematics rather than that of an economics course. The only prerequisite is high school algebra, but the book goes on to cover all the mathematics needed for undergraduate economics. It is also a useful reference for graduate students. After a review of the fundamentals of sets, numbers, and functions, the book covers limits and continuity, the calculus of functions of one variable, linear algebra, multivariate calculus, and dynamics. To develop the student’s problem-solving skills, the book works through a large number of examples and economic applications. This streamlined third edition offers an array of new and updated examples. Additionally, lengthier proofs and examples are provided on the book’s website. The book and the web material are cross-referenced in the text. A student solutions manual is available, and instructors can access online instructor’s material that includes solutions and PowerPoint slides. Visit <a href="http://mitpress.mit.edu/math_econ3" title="http://mitpress.mit.edu/math_econ3">http://mitpress.mit.edu/math_econ3</a> for complete details.</p> </div>
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<a href="/authors/michael-hoy">Michael Hoy</a> </div>
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<a href="/authors/john-livernois">John Livernois</a> </div>
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<a href="/authors/chris-mckenna">Chris McKenna</a> </div>
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<a href="/authors/ray-rees">Ray Rees</a> </div>
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<a href="/authors/thanasis-stengos">Thanasis Stengos</a> </div>
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<a href="/books/student-solutions-manual-mathematics-economics">Student Solutions Manual for Mathematics for Economics</a> </div>
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Instructor's Manual </div>
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Slides </div>
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File Of Figures In The Book </div>
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Econometrics & Statistical MethodsEconomics and FinanceThe MIT PressMITThe MIT PressSpring 2011TextbookWed, 13 Jul 2016 19:29:04 +0000allbooks_importer195455 at https://mitpress.mit.eduFoundations of Mathematical Economics
https://mitpress.mit.edu/books/foundations-mathematical-economics
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<a href="http://michaelcarteronline.com/FOME/" 0="s:85:"s:77:"s:69:"s:61:"s:53:"s:45:"s:37:"s:29:"s:21:"s:13:"s:6:"a:0:{}";";";";";";";";";";";" rel="nofollow" class="sup_url">Author's Website</a> </div>
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<p>This book provides a comprehensive introduction to the mathematical foundations of economics, from basic set theory to fixed point theorems and constrained optimization. Rather than simply offer a collection of problem-solving techniques, the book emphasizes the unifying mathematical principles that underlie economics. Features include an extended presentation of separation theorems and their applications, an account of constraint qualification in constrained optimization, and an introduction to monotone comparative statics. These topics are developed by way of more than 800 exercises. The book is designed to be used as a graduate text, a resource for self-study, and a reference for the professional economist.</p> </div>
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<a href="/authors/michael-carter">Michael Carter</a> </div>
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Econometrics & Statistical MethodsEconomics and FinanceThe MIT PressMITThe MIT PressFall 2001TextbookWed, 13 Jul 2016 14:39:02 +0000allbooks_importer190837 at https://mitpress.mit.eduStudent Solutions Manual for Mathematics for Economics
https://mitpress.mit.edu/books/student-solutions-manual-mathematics-economics
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<img src="https://mitpress.mit.edu/sites/default/files/imagecache/search_thumbnail/9780262517942.jpg" alt="" title="" width="128" height="200" class="imagecache imagecache-search_thumbnail imagecache-default imagecache-search_thumbnail_default"/> </div>
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<a href="/authors/michael-hoy">Michael Hoy</a> </div>
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<a href="/authors/john-livernois">John Livernois</a> </div>
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<a href="/authors/chris-mckenna">Chris McKenna</a> </div>
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<a href="/authors/ray-rees">Ray Rees</a> </div>
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<a href="/authors/thanasis-stengos">Thanasis Stengos</a> </div>
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<a href="/books/mathematics-economics">Mathematics for Economics</a> </div>
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Econometrics & Statistical MethodsEconomics and FinanceThe MIT PressMITThe MIT PressSpring 2011Tue, 12 Jul 2016 13:55:59 +0000allbooks_importer196166 at https://mitpress.mit.eduNumerical Methods in Economics
https://mitpress.mit.edu/books/numerical-methods-economics
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<p>To harness the full power of computer technology, economists need to use a broad range of mathematical techniques. In this book, Kenneth Judd presents techniques from the numerical analysis and applied mathematics literatures and shows how to use them in economic analyses.The book is divided into five parts. Part I provides a general introduction. Part II presents basics from numerical analysis on R^n, including linear equations, iterative methods, optimization, nonlinear equations, approximation methods, numerical integration and differentiation, and Monte Carlo methods. Part III covers methods for dynamic problems, including finite difference methods, projection methods, and numerical dynamic programming. Part IV covers perturbation and asymptotic solution methods. Finally, Part V covers applications to dynamic equilibrium analysis, including solution methods for perfect foresight models and rational expectation models. A website contains supplementary material including programs and answers to exercises.</p> </div>
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<a href="/authors/kenneth-l-judd">Kenneth L. Judd</a> </div>
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Econometrics & Statistical MethodsFinanceEconomics and FinanceThe MIT PressMITThe MIT PressFall 1998TextbookTue, 12 Jul 2016 13:55:22 +0000allbooks_importer192795 at https://mitpress.mit.eduEconometric Analysis of Cross Section and Panel Data
https://mitpress.mit.edu/books/econometric-analysis-cross-section-and-panel-data
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<a href="http://mitpress.mit.edu/books/students-solutions-manual-and-supplementary-materials-econometric-analysis-cross-section-and-p" 0="s:45:"s:37:"s:29:"s:21:"s:13:"s:6:"a:0:{}";";";";";";" rel="nofollow" class="sup_url">Student Solutions Manual</a> </div>
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<p>The second edition of this acclaimed graduate text provides a unified treatment of two methods used in contemporary econometric research, cross section and data panel methods. By focusing on assumptions that can be given behavioral content, the book maintains an appropriate level of rigor while emphasizing intuitive thinking. The analysis covers both linear and nonlinear models, including models with dynamics and/or individual heterogeneity. In addition to general estimation frameworks (particular methods of moments and maximum likelihood), specific linear and nonlinear methods are covered in detail, including probit and logit models and their multivariate, Tobit models, models for count data, censored and missing data schemes, causal (or treatment) effects, and duration analysis.<br /><br /><i>Econometric Analysis of Cross Section and Panel Data</i> was the first graduate econometrics text to focus on microeconomic data structures, allowing assumptions to be separated into population and sampling assumptions. This second edition has been substantially updated and revised. Improvements include a broader class of models for missing data problems; more detailed treatment of cluster problems, an important topic for empirical researchers; expanded discussion of "generalized instrumental variables" (GIV) estimation; new coverage (based on the author's own recent research) of inverse probability weighting; a more complete framework for estimating treatment effects with panel data, and a firmly established link between econometric approaches to nonlinear panel data and the "generalized estimating equation" literature popular in statistics and other fields. New attention is given to explaining when particular econometric methods can be applied; the goal is not only to tell readers what does work, but why certain "obvious" procedures do not. The numerous included exercises, both theoretical and computer-based, allow the reader to extend methods covered in the text and discover new insights.</p> </div>
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<a href="/authors/jeffrey-m-wooldridge">Jeffrey M Wooldridge</a> </div>
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<a href="/books/students-solutions-manual-and-supplementary-materials-econometric-analysis-cross-section-and-p">Student's Solutions Manual and Supplementary Materials for Econometric Analysis of Cross Section and Panel Data</a> </div>
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Econometrics & Statistical MethodsEconomics and FinanceThe MIT PressMITThe MIT PressSpring 2011TextbookTue, 12 Jul 2016 13:55:03 +0000allbooks_importer190331 at https://mitpress.mit.eduThe Economic Effects of Constitutions
https://mitpress.mit.edu/books/economic-effects-constitutions
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<img src="https://mitpress.mit.edu/sites/default/files/imagecache/search_thumbnail/9780262661928.jpg" alt="" title="" width="128" height="187" class="imagecache imagecache-search_thumbnail imagecache-default imagecache-search_thumbnail_default"/> </div>
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<p>The authors of <i>The Economic Effects of Constitutions</i> use econometric tools to study what they call the "missing link" between constitutional systems and economic policy; the book is an uncompromisingly empirical sequel to their previous theoretical analysis of economic policy. Taking recent theoretical work as a point of departure, they ask which theoretical findings are supported and which are contradicted by the facts. The results are based on comparisons of political institutions across countries or time, in a large sample of contemporary democracies. They find that presidential/parliamentary and majoritarian/proportional dichotomies influence several economic variables: presidential regimes induce smaller public sectors, and proportional elections lead to greater and less targeted government spending and larger budget deficits. Moreover, the details of the electoral system (such as district magnitude and ballot structure) influence corruption and structural policies toward economic growth.Persson and Tabellini's goal is to draw conclusions about the causal effects of constitutions on policy outcomes. But since constitutions are not randomly assigned to countries, how the constitutional system was selected in the first place must be taken into account. This raises challenging methodological problems, which are addressed in the book. The study is therefore important not only in its findings but also in establishing a methodology for empirical analysis in the field of comparative politics.</p> </div>
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<a href="/authors/torsten-persson">Torsten Persson</a> </div>
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<a href="/authors/guido-tabellini">Guido Tabellini</a> </div>
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<a href="/books/political-economics">Political Economics</a> </div>
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Econometrics & Statistical MethodsPolitical EconomyEconomics and FinancePolitical Science & Public PolicyThe MIT PressMITThe MIT PressFall 2003Munich Lectures in EconomicsTue, 12 Jul 2016 13:53:18 +0000allbooks_importer190348 at https://mitpress.mit.eduAn Introduction to the Structural Econometrics of Auction Data
https://mitpress.mit.edu/books/introduction-structural-econometrics-auction-data
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<p>This text, intended for both graduate students and professional researchers, is an effective, concise introduction to the structural econometrics of auctions. Tools from recent developments in theoretical econometrics are combined with established numerical methods to provide a practical guide to most of the main concepts in the empirical analysis of field data from auctions. Among other things, the text is remarkable for a large number of mathematical problems and computer exercises for which sample solutions are provided at the end of the book. In the case of the computer exercises, sample code written in Matlab provides a ready-made toolbox that allows readers to implement many existing empirical specifications efficiently.<br /><br />In the first two chapters, the authors introduce several important issues in the analysis of field data from auctions and then go on to develop a simple theoretical model within the independent, private-values paradigm. In the third chapter, under several data-generating schemes, the authors outline empirical methods for analyzing data from single-unit Vickrey and English auctions, while in the fourth chapter, they outline methods for analyzing data from single-unit, Dutch, and first-price sealed-bid auctions. In the fifth chapter, the authors discuss theoretical issues important in the analysis of multi-good auctions, focusing on the analysis of multi-unit auctions, and then provide examples of some recent strategies designed to analyze data from these auctions. Included at the end are a number of appendixes that review the technical tools required in developing the topics treated in the text. A CD-ROM containing sample computer code and data sets accompanies the text.</p> </div>
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<a href="/authors/harry-j-paarsch">Harry J. Paarsch</a> </div>
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<a href="/authors/han-hong">Han Hong</a> </div>
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<a href="/authors/m-ryan-haley">M. Ryan Haley</a> </div>
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Econometrics & Statistical MethodsFinanceEconomics and FinanceThe MIT PressMITThe MIT PressFall 2005TextbookTue, 12 Jul 2016 13:53:16 +0000allbooks_importer191655 at https://mitpress.mit.eduApplied Computational Economics and Finance
https://mitpress.mit.edu/books/applied-computational-economics-and-finance
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<img src="https://mitpress.mit.edu/sites/default/files/imagecache/search_thumbnail/9780262633093.jpg" alt="" title="" width="128" height="166" class="imagecache imagecache-search_thumbnail imagecache-default imagecache-search_thumbnail_default"/> </div>
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<a href="http://www4.ncsu.edu/~pfackler/compecon/" 0="s:29:"s:21:"s:13:"s:6:"a:0:{}";";";";" rel="nofollow" class="sup_url">Author Website (CompEcon Toolbox)</a> </div>
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<p>This book presents a variety of computational methods used to solve dynamic problems in economics and finance. It emphasizes practical numerical methods rather than mathematical proofs and focuses on techniques that apply directly to economic analyses. The examples are drawn from a wide range of subspecialties of economics and finance, with particular emphasis on problems in agricultural and resource economics, macroeconomics, and finance. The book also provides an extensive Web-site library of computer utilities and demonstration programs.<br /><br />The book is divided into two parts. The first part develops basic numerical methods, including linear and nonlinear equation methods, complementarity methods, finite-dimensional optimization, numerical integration and differentiation, and function approximation. The second part presents methods for solving dynamic stochastic models in economics and finance, including dynamic programming, rational expectations, and arbitrage pricing models in discrete and continuous time. The book uses MATLAB to illustrate the algorithms and includes a utilities toolbox to help readers develop their own computational economics applications.</p> </div>
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<a href="/authors/mario-j-miranda">Mario J. Miranda</a> </div>
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<a href="/authors/paul-l-fackler">Paul L. Fackler</a> </div>
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Econometrics & Statistical MethodsFinanceEconomics and FinanceThe MIT PressMITThe MIT PressFall 2004TextbookTue, 12 Jul 2016 13:53:06 +0000allbooks_importer189082 at https://mitpress.mit.edu