Modeling Dependence in Econometrics
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Modeling Dependence in Econometrics

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ISBN-13:
9783319033952
Einband:
eBook
Seiten:
575
Autor:
Van-Nam Huynh
Serie:
251, Advances in Intelligent Systems and Computing
eBook Typ:
PDF
eBook Format:
EPUB
Kopierschutz:
1 - PDF Watermark
Sprache:
Englisch
Beschreibung:
Part I Keynote Paper.- Part II Fundamental Theory.- Part III Applications.
In economics, many quantities are related to each other. Such economic relations are often much more complex than relations in science and engineering, where some quantities are independence and the relation between others can be well approximated by linear
functions. As a result of this complexity, when we apply traditional statistical techniques - developed for science and engineering - to process economic data, the inadequate treatment of dependence leads to misleading models and erroneous predictions. Some economists even blamed such inadequate treatment of dependence for the 2008 financial crisis.

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