The Empirical Calibration and Testing of a Simulation Model of Residential Location

1975 ◽  
Vol 7 (8) ◽  
pp. 899-920 ◽  
Author(s):  
A Anas
Keyword(s):  
Simulation Model ◽  
Residential Location ◽  
Microeconomic Theory ◽  
Empirical Results ◽  
Adjustment Mechanism ◽  
Wilson Model ◽  
Empirical Calibration ◽  
Short Run ◽  
Locational Behavior

This paper summarizes the results obtained from the empirical calibration of a model of residential location proposed in a previous paper. The model is compared with the short-run versions of two other models of residential location based on the microeconomic theory of locational behavior (the Herbert—Stevens model and the Senior—Wilson model). The empirical results and the testing of the rent-adjustment mechanism are discussed.

Give it Away Now: An Explanation of the Empirical Results of the Ultimatum and Centipede Games

2017 ◽  
Author(s):  
Liam Mulligan
Keyword(s):  
Perceived Fairness ◽  
Practical Applications ◽  
Labour Relations ◽  
Empirical Results ◽  
Long Run ◽  
Making Choices ◽  
Short Run ◽  
Future Consequences ◽  
The City ◽  
Rational Players

Economics defines individual rationality as consumers making choices that maximize their utility in anticipation of the future consequences of these choices.  In theory, a consumer will take his or her income and allocate it towards purchases that maximize his or her utility given his or her stable of reasonably static preferences (in the short run) and estimated changes to preferences in the long run.  In order for an agent to maximize his or her utility, the agent must also maximize his or her income.   However, behavioural studies on human decisions in economic games (game theory) have shown that consumers do not always maximize their income.  Two games in particular (Ultimatum and Centipede) have demonstrated that seemingly rational players may not maximize income, whether for perceived fairness, justice, or punishment.  Practical applications of these results are observed in labour relations when striking unionized employees earn less with a labour stoppage than they would have if they had avoided losing time at work.  Specifically, a seven week strike in 2008 by CUPE Local 855 (Kawartha Lakes) is examined.  It is determined that all four job types in the City of Kawartha Lakes Children’s Services department lost income because of the strike.  Reasoning and empirical results from both the Ultimatum and Centipede games will be used to explain the Union’s decision to strike and to strike for as long as they did

scholarly journals Autocratic Survival Strategies: Does Oil Make a Difference?

2019 ◽  
Vol 25 (2) ◽  
Author(s):  
Phoebe W. Ishak
Keyword(s):  
Public Spending ◽  
Authoritarian Regimes ◽  
Survival Strategies ◽  
Mass Violence ◽  
Empirical Results ◽  
Short Run ◽  
Fiscal Space ◽  
Oil Wealth ◽  
Imminent Threat

AbstractThis paper examines the behavior of dictators when faced by an imminent threat of being overthrown in oil abundant countries. In the short run, the dictator’s survival strategies is argued to be confined to public spending and repression, whereas the choice of their levels is conditional upon the intensity of the mass threat (i.e. civil protest vs. mass violence) and the size of oil wealth. The empirical results indicate a possibility of mixing between spending and repression, and that oil wealth allows for differences in their employed levels in face of the same threat. Using a dataset of authoritarian regimes in 88 countries from 1981 to 2006, I found that mass violence is handled through increasing both spending and repression, whereas civil protest is only met by repression. Furthermore, greater oil wealth is found to provide a wider fiscal space to relatively increase spending, but only at low and intermediate levels of mass threats. As the threats intensify, the effect of oil wealth dissipates and oil wealth dictatorships behave the same as their non-oil wealth counterparts.

The Volatility for Pre and Post Global Financial Crisis

2011 ◽  
Vol 2 (2) ◽  
pp. 82-95
Author(s):  
Shih-Yung Wei ◽  
Jack J. W. Yang ◽  
Jen-Tseng Chen ◽  
Wei-Chiang Samuelson Hong
Keyword(s):  
Hong Kong ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Asset Returns ◽  
Financial Asset ◽  
Asymmetric Volatility ◽  
Empirical Results ◽  
Long Run ◽  
Short Run ◽  
Financial Asset Returns

The asymmetric volatility, temporary volatility, and permanent volatility of financial asset returns have attracted much interest in recent years. However, a consensus has not yet been reached on the causes of them for both the stocks and markets. This paper researched asymmetric volatility and short-run and long-run volatility through global financial crisis for eight Asian markets. EGARCH and CGARCH models are employed to deal with the daily return to examine the degree of asymmetric volatility (temporary volatility and permanent volatility). The authors find that after global financial crisis asymmetric volatility is lower (expect Hong Kong), and the long-run effect is more than the short-run effect. The empirical results for the short-run show that, after global financial crisis, there is significant decreasing in China and Taiwan but not in Japan; the others are significantly increasing. For the long-run, there is significant decreasing (except Thailand and Korea).

scholarly journals Employment Expectations and Labour Force Participation in Canada

2005 ◽  
Vol 29 (2) ◽  
pp. 320-331
Author(s):  
Arthur Donner ◽  
Fred Lazar
Keyword(s):  
Labour Market ◽  
Labour Supply ◽  
Labour Force ◽  
Labour Force Participation ◽  
Traditional Model ◽  
Empirical Results ◽  
Short Run ◽  
Market Expectations

This paper incorporates a role for expectations in the short-run behavior of labour supply decision, presents a theory introducing labour market expectations as a variable influencing labour supply, and discusses the relative merits of the expectations model vis-à-vis the traditional model using the empirical results derived in this work.

scholarly journals Asymmetric Price Transmission of World Prices to Kenyan Tea Market

2020 ◽  
Author(s):  
Vincent Ngeno
Keyword(s):  
Price Transmission ◽  
Asymmetric Adjustment ◽  
Close Link ◽  
Empirical Results ◽  
Current Period ◽  
Long Run ◽  
Asymmetric Price Transmission ◽  
The World ◽  
Domestic Prices ◽  
Short Run

Abstract The use of asymmetrical threshold cointegration test is adopted in this study to investigate whether any significant relationship or asymmetric adjustment exists in transmission of prices between the world tea market and domestic prices in Kenya. The empirical results obtained are as follows. First, we verify a close link between the Kenya’s tea price and its international counterparts under the current period of market liberalization. Second, empirical results demonstrate that in both long run and short run, the price transmission between world tea market and Kenyan domestic market are nonlinear and asymmetric, suggesting long run and short run dynamic inefficiencies and presence of transaction costs.JEL classification: C32, Q13, Q17

scholarly journals FDI Asymmetries in Emerging Economies: The Case of Colombia

2019 ◽  
Vol 11 (8) ◽  
pp. 35
Author(s):  
Jose U. Mora ◽  
Celso J. Costa Junior
Keyword(s):  
Emerging Economies ◽  
Adjustment Costs ◽  
Nominal Wage ◽  
Real Output ◽  
Empirical Results ◽  
Capital Adjustment ◽  
Long Run ◽  
Price Rigidities ◽  
Short Run ◽  
Distribution Of Income

We build a DSGE model to study the asymmetries of FDI shocks in an economy like Colombia. Besides nominal wage and price rigidities, we use the fact that Colombia has two productive and differentiated regions, Bogota that produces more than 25% of Colombia GDP (DANE, 2016) and the rest of the country, Ricardian and non-Ricardian agents, habit formation, capital adjustment costs, and modeled an entire foreign sector. Empirical results show that even when in the long run results are not very different in terms of real output, the short run effects are asymmetric implying that a shock to FDI in the rest of the country might cause important microeconomic adjustments that could improve the distribution of income throughout the country.

Estimating electric car's emissions in Germany: an analysis through a pivotal marginal method and comparison with other methods

2012 ◽  
pp. 131-155
Author(s):  
Jérome Massiani ◽  
Jens Weinmann
Keyword(s):  
Renewable Energy ◽  
Simulation Model ◽  
Electric Vehicles ◽  
Simulation Models ◽  
Alternative Fuel ◽  
Alternative Fuel Vehicles ◽  
Time Pattern ◽  
Electric Cars ◽  
Micro Simulation ◽  
Short Run

In this paper, we estimate the emissions resulting from electric vehicles in Germany. We make use of EMOB, a comprehensive simulation model that provides a forecast and evaluation of the diffusion of alternative fuel vehicles in the next decades. Our method to compute emissions differs from existing ones by a "pivotal marginal" or "hourly marginal" calculation that takes into account the predicted time pattern of EV reloading and can offer a parsimonious alternative to resource intensive micro simulation models. Our approach results in EV emissions of 87 g/km in 2012 and 82 g/km in 2020. These estimates are much higher than those provided by simplified approaches (marginal and average emission) in the short run and get close to marginal emissions after 2035. Co-ordinated charging may reduce the emissions only marginally (usually less than 4 %). Generally, our findings cast doubts on the general claim that electric cars could be fuelled by renewable energy in general, and with fluctuating excess supply of renewables (wind, solar) in particular. This conclusion persists even in the presence of realistic coordination schemes.

Calibrating Urban Residential Location Models 3: Empirical Results for Non-US Cities

1980 ◽  
Vol 12 (7) ◽  
pp. 813-827 ◽  
Author(s):  
S H Putman
Keyword(s):  
Parameter Estimation ◽  
Residential Location ◽  
Allocation Model ◽  
Empirical Verification ◽  
Empirical Results ◽  
The Third ◽  
Location Models ◽  
Descriptive Validity ◽  
Us Cities

This paper is the third in a series describing extensive empirical verification (by parameter estimation) of the Disaggregated Residential Allocation Model (DRAM). The first paper in this series, Putman and Ducca (1978a), described procedures for estimating the parameters of this type of model when trip interchange (O-D trip matrices) are unavailable. The second paper in this series, Putman and Ducca (1978b), described the results of estimating parameters in this way for a dozen US cities. This paper continues the work with parameter estimation for more than a dozen disparate non-US cities. The results lend even greater confirmation of the descriptive validity of this type of model.

scholarly journals A Dynamic Analysis of the Impact of Fiscal Adjustment on Economic Growth: Evidence From Pakistan

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110271
Author(s):  
Ibrar Hussain ◽  
Jawad Hussain ◽  
Arshad Ali ◽  
Shabir Ahmad
Keyword(s):  
Economic Growth ◽  
Causality Test ◽  
Distributed Lag ◽  
Fiscal Adjustment ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Empirical Calibration ◽  
Short Run ◽  
S Model ◽  
The Impact

This study claims to be the first in assessing the short-run and long-run impacts of both the size and composition of fiscal adjustment on the growth in Pakistan. Empirical calibration has been made on Mankiw et al.’s model, while the Autoregressive Distributed Lag (ARDL) techniques of Pesaran et al. have been employed to carry out the estimation. To cure the problem of degenerate cases, the ARDL techniques have been augmented with the model of Sam et al. The analysis supports the hypothesis of “expansionary fiscal contraction” in the long run. The analysis reveals that the spending-based adjustment enhances the economic growth, whereas the tax-based adjustment would reduce the growth in the long run in the case of Pakistan. The Granger causality test indicates that the fiscal adjustments have been weakly exogenous, thereby allowing feedback effect from the economic growth toward the fiscal adjustment. Thus, the objective of sustained economic growth can be achieved through the spending-based consolidation measures.

scholarly journals Determinants of the Demand for Manpower Training : Some Empirical Results

2005 ◽  
Vol 30 (3) ◽  
pp. 424-435
Author(s):  
L. R. Truesdell
Keyword(s):  
Empirical Results ◽  
Seasonal Factors ◽  
Short Run ◽  
Functional Forms

The author develops a short-run model for the demand of manpower training. It is shown that the short-run demand for manpower training is sensitive to the levels of unemployment as well as to seasonal factors. Various functional forms are also investigated

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