Contributions to Econometric Theory and Application: Essays by L. R. Klein (auth.), R. A. L. Carter, J. Dutta, A. Ullah

By L. R. Klein (auth.), R. A. L. Carter, J. Dutta, A. Ullah (eds.)

The function of this quantity is to honour a pioneer within the box of econometrics, A. L. Nagar, at the get together of his 60th birthday. Fourteen econometricians from six international locations on 4 continents have contributed to this venture. one in every of us used to be his instructor, a few of us have been his scholars, many people have been his colleagues, we all are his neighbors. Our quantity opens with a paper through L. R. Klein which discusses the that means and function of exogenous variables in struc­ tural and vector-autoregressive econometric types. numerous examples from contemporary macroeconomic historical past are provided and the idea of Granger-causality is mentioned. this can be by way of papers facing a subject matter of substantial relevance to constructing international locations, resembling India; the dimension of the inequality within the distribution of source of revenue. The paper by way of C. T. West and H. Theil offers with the matter of measuring inequality of all elements of overall source of revenue vvithin a sector, instead of simply labour source of revenue. It applies its effects to the areas of the USA. the second one paper during this crew, via N. Kakwani, derives the large-sample distributions of a number of well known inequality measures, therefore supplying a style for drawing large-sample inferences in regards to the changes in inequality among areas. The options are utilized to the areas of Cote d'Ivoire. the following workforce of papers is dedicated to econometric thought within the context of the dynamic, simultaneous, linear equations version. the 1st, by way of P. J.

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27 shares of one income component to be counterbalanced by relatively high shares of another. r, if there is not r=1 stochastic independence, then regional share varies across income source with at least one share exceeding Sg. , yielding intuitive offset. 2 Since J and Jr are regional summations, it is natural to consider the relative contributions of each region to aggregate and component inequality. For example, consider a simple four region situation in which all regions have equal population.

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