By Tilak Abeysinghe
Singapore's extraordinary transformation from 3rd international to First global prestige has been of serious curiosity to economists worldwide but there was little quantitative study performed on its financial system and associations. This leading edge new examine monograph fills the lacunae by way of providing the Singapore economic system via a macroeconometric version and laying the rules for additional examine.
Using formal econometric research and novel modelling concepts, Abeysinghe and Choy supply infrequent insights into how the Singapore financial system works. all the significant chapters discusses the consequences of the empirical findings for present coverage and a complete bankruptcy has been dedicated to macroeconomic coverage simulations.
This publication is a special creation to the Singapore economic climate and will be of curiosity to econometric modellers and coverage makers in Singapore in addition to complicated undergraduates and graduate researchers drawn to modelling small open economies.
Read or Download The Singapore Economy: An Econometric Perspective PDF
Similar econometrics books
This fascinating quantity provides state of the art advancements in excessive frequency monetary econometrics, spanning a various diversity of issues: industry microstructure, tick-by-tick facts, bond and foreign currency echange markets and big dimensional volatility modelling. The chapters on marketplace microstructure care for liquidity, asymmetries of data, and restrict order aggressiveness in natural restrict order ebook markets.
This ebook is for a primary path in stochastic approaches taken via undergraduates or master’s scholars who've had a direction in chance concept. It covers Markov chains in discrete and non-stop time, Poisson procedures, renewal tactics, martingales, and mathematical finance. you will simply examine an issue through seeing it in motion, so there are numerous examples and greater than three hundred rigorously selected routines to deepen the reader’s understandingThe e-book has passed through a radical revision because the first version.
Overseas purposes of productiveness and potency research encompasses a whole variety of ideas used in frontier research, together with extensions of present suggestions and the improvement of latest recommendations. one other characteristic is that almost all of the contributions use panel info in various techniques.
This quantity studies and summarizes a few of A. I. McLeod's major contributions to time sequence research. It additionally includes unique contributions to the sphere and to similar parts through individuals of the festschrift held in June 2014 and acquaintances of Dr. McLeod. overlaying a various diversity of cutting-edge themes, this quantity good balances utilized and theoretical examine throughout fourteen contributions by means of specialists within the box.
- Bargaining Theory with Applications
- Mechanism theory
- Economic Forecasting
- Bayesian Economics Through Numerical Methods: A Guide to Econometrics and Decision-Making with Prior Information
Additional info for The Singapore Economy: An Econometric Perspective
However, ofﬁcial statistics suggest that if this had any role to play at all in explaining the APC’s secular decline, it cannot extend beyond the mid-1980s, when the ratio of the working-age population to the total population stabilized at 70%. Yet the APC has continued its precipitous fall during the decade of the 1990s. 3 In view of Kuznets’ ﬁndings, however, this argument holds water only if we restrict the time period to the “short run”. Regardless of how one deﬁnes that, we think the 40 years over which the APC has been halved in Singapore is too long an interval to satisfy the requirement.
We have thus far concentrated on modelling the long-term behaviour of private consumption expenditures in Singapore, but do short-run ﬂuctuations in consumption also respond to the long-run factors that are found to be important? 5 The APC and key ratios. 59) In this regression, we tried the total loans variable and its components (CPF housing withdrawals and loans to individuals) separately, but only CPF housing withdrawals turned out to be statistically signiﬁcant. Unlike consumption functions estimated for most countries, Singapore’s consumption expenditure is subject to more short-term variation as reﬂected by the negative coefﬁcient on ln Ct−1 .
Exact or approximate F-test results are reported, except for the normality test where the asymptotic χ 2 value is shown. As emphasized above, parameter invariance is a very important requirement for employing a model in policy analysis. A structural break is a serious matter because it implies that the substantive conclusions about the economy being modelled are vitiated. Hence, we also carry out a formal test of parameter stability in the form of the Chow test of forecast performance in the post-sample period from 2001 to 2003.
The Singapore Economy: An Econometric Perspective by Tilak Abeysinghe