Hybrid journal (It can contain Open Access articles) ISSN (Print) 1757-1170 - ISSN (Online) 1757-1189 Published by Inderscience Publishers[450 journals]
Authors:Taras Y. Tkachuk, Leontii G. Chystokletov, Oleksandra L. Khytra, Valerii V. Shyshko, Leonid O. Ostapenko Pages: 1 - 11 Abstract: Equilibrium indeterminacy in rational expectations models is often claimed to produce higher time series persistence relative to determinacy. Proceeding by means of a simple linear stochastic model, I formally show that, for reasonable parameter configurations, there exists an uncountable (continuously infinite) set of indeterminate equilibria in low-order AR(MA) representation, which exhibit strictly lower persistence than their determinate counterpart. Implications for empirical studies concerned with, e.g., testing for indeterminacy and macroeconomic forecasting are discussed. Keywords: rational expectations; indeterminacy; persistence Citation: International Journal of Computational Economics and Econometrics, Vol. 11, No. 1 (2021) pp. 1 - 11 PubDate: 2020-12-11T23:20:50-05:00 DOI: 10.1504/IJCEE.2021.111711 Issue No:Vol. 11, No. 1 (2020)
Authors:Dimitrios Tsiotas, Labros Sdrolias, Georgios Aspridis, Dagmar Å kodová-Parmová, Zuzana Dvořáková-LÃÅ¡ková Pages: 12 - 36 Abstract: This paper examines empirically the utility of size-distribution analysis in the study of urban systems, on data referring to every urban settlement recorded in 2011 national census of Greece. The study lowers the scale of the size-distribution analysis to the regional, instead of the national level, where is commonly being applied, examining two aspects of size-distributions, <i>the rank-size</i> and the <i>city-size-distribution</i>, in comparison with three well-established statistical dispersion indices, the <i>coefficient of variation</i>, the <i>Theil index</i> and the <i>Gini coefficient</i>. The major research question is to detect how capable are the size-distribution exponents to operate as measures of statistical dispersion and to include socioeconomic information. Overall, the analysis concludes that the size-distribution assessment is useful for the initialisation of the study of urban systems, where the available information is restricted to population size, and is capable to provide structural information of an urban system and its socioeconomic framework, but not more effective than other measures of statistical dispersion. Keywords: power-laws; Zipf's law; regional economics; cities; regional science; econophysics; Greece Citation: International Journal of Computational Economics and Econometrics, Vol. 11, No. 1 (2021) pp. 12 - 36 PubDate: 2020-12-11T23:20:50-05:00 DOI: 10.1504/IJCEE.2021.111712 Issue No:Vol. 11, No. 1 (2020)
Authors:Nikolaos A. Krimpas, Paraskevi K. Salamaliki, Ioannis A. Venetis Pages: 37 - 62 Abstract: We use static and dynamic factor models to decompose Greek inflation into common components. Static factor analysis suggests the need to develop comprehensive underlying inflation measures for Greece. Dynamic factor analysis decomposes inflation into three components: pure inflation and relative price inflation both driven by aggregate shocks and, an idiosyncratic component reflecting sector specific shocks. We verify the idiosyncratic component as the main source of inflation variability while pure inflation and its associated shocks are dominant compared to relative inflation. Based on pure inflation correlations, the relative weight of anticipated monetary shocks is large only for the spread between the ten-year government bond yield and a three-month short run rate and only in times of monetary stability. Keywords: disaggregate CPI; dynamic factor model; pure inflation; relative prices; Greece Citation: International Journal of Computational Economics and Econometrics, Vol. 11, No. 1 (2021) pp. 37 - 62 PubDate: 2020-12-11T23:20:50-05:00 DOI: 10.1504/IJCEE.2021.111713 Issue No:Vol. 11, No. 1 (2020)
Authors:Yiannis C. Bassiakos, Zacharoula Kalogiratou, Theodoros Monovasilis, Nicholas Tsounis Pages: 63 - 77 Abstract: Computational biology models of the Volterra-Lotka family, known as competing species models, are used for modelling a triopoly market, with application to the mobile telecommunications in Greece. Using a data sample for 1999-2016, parameter estimation with nonlinear least squares is performed. The findings show that the proportional change in the market share of the two largest companies, Cosmote and Vodafone, depends negatively on the market share of each other. Further, the market share of the marker leader, Cosmote, depends positively on the market share of the smallest company, Wind. The proportional change in the market share of Wind, depends negatively on the market share of the largest company Cosmote but it depends positively by the change in the market share by the second company, Vodafone. In the long-run it was found that the market shares tend to the stable equilibrium point where all three companies will survive with Cosmote having a projected number after eleven years (in 2030) of approximately 7.3 million subscribers, Vodafone 4.9 and Wind 3.7, the total number of projected market size being approximately 16 million customers. Keywords: Volterra-Lotka models; triopoly; mobile telecommunications sector; Greece Citation: International Journal of Computational Economics and Econometrics, Vol. 11, No. 1 (2021) pp. 63 - 77 PubDate: 2020-12-11T23:20:50-05:00 DOI: 10.1504/IJCEE.2021.111714 Issue No:Vol. 11, No. 1 (2020)
Authors:Yiannis C. Bassiakos, Zacharoula Kalogiratou, Theodoros Monovasilis, Nicholas Tsounis Pages: 78 - 83 Abstract: This paper proposes a new filter technique to separate trend and cycle based on stylised economic properties, rather than relying on <i>ad hoc</i> statistical properties such as frequency. Given the theoretical separation between economic growth and business cycle literature, it is necessary to make measures of trend and cycle match what the respective theories intend to explain. The proposed filter is applied to the long macroeconomic data collected by the Bank of England (1700-2015). Keywords: filter; trend; cycle Citation: International Journal of Computational Economics and Econometrics, Vol. 11, No. 1 (2021) pp. 78 - 83 PubDate: 2020-12-11T23:20:50-05:00 DOI: 10.1504/IJCEE.2021.111716 Issue No:Vol. 11, No. 1 (2020)
Authors:Asif Khan, Rachita Gulati Pages: 84 - 104 Abstract: The microfinance institutions (MFIs) operate with the dual goals; financial sustainability and social outreach. Therefore, the present paper aims to assess the twin objectives of MFIs operating in the selected four South Asian countries (i.e., Bangladesh, India, Nepal and Pakistan) during the financial year 2010 to 2015. First, we remove the outliers from the dataset by following Banker and Gifford (1988) and Banker and Chang (2006) guidelines. Thereafter, the study use bootstrap data envelopment analysis (DEA) by designing two separate models to measure bias-corrected financial and social efficiency estimates. The empirical results confirm that the South Asian MFIs remain more financially efficient than socially during the study period. Further, the Indian MFIs outperform in terms of both the aspects followed by Nepali and Bangladeshi MFIs, respectively. However, the Pakistani MFIs are the least performers in terms of both social outreach and financial sustainability. Keywords: bias-corrected efficiency; financial efficiency; social efficiency; bootstrap data envelopment analysis; DEA; bootstrap DEA; microfinance institutions; MFIs; microfinance; South Asia Citation: International Journal of Computational Economics and Econometrics, Vol. 11, No. 1 (2021) pp. 84 - 104 PubDate: 2020-12-11T23:20:50-05:00 DOI: 10.1504/IJCEE.2021.111717 Issue No:Vol. 11, No. 1 (2020)
Hybrid journal (It can contain Open Access articles)
