Mostrando recursos 61 - 80 de 100

  1. Inverse Transformed Density Rejection for Unbounded Monotone Densities

    Hörmann, Wolfgang; Leydold, Josef; Derflinger, Gerhard
    A new algorithm for sampling from largely abitrary monotone, unbounded densities is presented. The user has to provide a program to evaluate the density and its derivative and the location of the pole. Then the setup of the new algorithm constructs different hat functions for the pole region and for the tail region, respectively. For the pole region a new method is developed that uses a transformed density rejection hat function of the inverse density. As the order of the pole is calculated in the setup, conditions that guarantee the correctness of the constructed hat functions are provided. Numerical experiments...

  2. Getting Things in Order: An Introduction to the R package seriation

    Hahsler, Michael; Hornik, Kurt; Buchta, Christian
    Seriation, i.e., finding a linear order for a set of objects given data and a loss or merit function, is a basic problem in data analysis. Caused by the problem's combinatorial nature, it is hard to solve for all but very small sets. Nevertheless, both exact solution methods and heuristics are available. In this paper we present the package seriation which provides the infrastructure for seriation with R. The infrastructure comprises data structures to represent linear orders as permutation vectors, a wide array of seriation methods using a consistent interface, a method to calculate the value of various loss and...

  3. Exchange Rate Regime Analysis Using Structural Change Methods

    Zeileis, Achim; Shah, Ajay; Patnaik, Ila
    Regression models for de facto currency regime classification are complemented by inferential techniques for tracking the stability of exchange rate regimes. Several structural change methods are adapted to these regressions: tools for assessing the stability of exchange rate regressions in historical data (testing), in incoming data (monitoring) and for determining the breakpoints of shifts in the exchange rate regime (dating). The tools are illustrated by investigating the Chinese exchange rate regime after China gave up on a fixed exchange rate to the US dollar in 2005 and to track the evolution of the Indian exchange rate regime since 1993.

  4. Coming and leaving. Internal mobility in late Imperial Austria.

    Steidl, Annemarie; Stockhammer, Engelbert
    The paper investigates the determinants of internal migration within late imperial Austria. In contrast to the modernization paradigm which studies onedirectional migration flows from rural to urban areas, our approach highlights that spatial mobility consisted of movements in both directions. Using data on all districts of the Austrian part of the Hapsburg Monarchy, we find that in- and outmigration rates are positively correlated, and that the modernization paradigm in migration research is consistent with our results for net-migration rates, but inconsistent with those for out-migration. (author's abstract)

  5. Uncertainty, market power and credit rationing

    Ramskogler, Paul
    This paper explores the nexus between uncertainty and credit restrictions. A Post Keynesian approach to an explanation of access rationing to credit is developed and contrasted with the dominant relationship lending school. It is argued that access rationing to credit has be understood in terms of uncertainty and power. Differences in systemic uncertainty to which hetrogenous market participants are exposed can explain the reluctance of banks to lend to certain applicants. Monopsonistic power and uncertainty further help to understand why banks of a different size show differences in their lending behavior. (author's abstract)

  6. Demand effects of the falling wage share in Austria

    Stockhammer, Engelbert; Ederer, Stefan
    This paper aims at empirically estimating the demand effects of changes in functional income distribution for Austria. Based on a Post-Kaleckian macro model, this paper estimates the effects of a change in the wage share on the main demand aggregates. The results for the behavioral functions for consumption, investment, prices, exports and imports are compared with the specifications of the WIFO macro model and the IHS macro model. A reduction in the wage share has a restrictive effect on domestic demand as consumption decreases more strongly than investment increases. Because of the strong effects on net exports the overall effects...

  7. Trade Effects of the Euro. Small Countries, Large Gains!

    Badinger, Harald; Breuss, Fritz
    Several studies suggest that the introduction of the Euro has triggered sizeable increases in intra-Euro area trade. In this paper we test whether these gains are distributed asymmetrically among Euro area countries with respect to country size. This hypothesis is motivated by Casella (1996), who postulates that small countries of a trade bloc gain more from its enlargement. We argue that the implications of this model do also apply to the introduction of a common currency and test for a small country bonus using aggregate trade data and disaggregated trade data at the SITC1, SITC2, and SITC3 level. The results...

  8. Trade Effects of the Euro. Small Countries, Large Gains!

    Badinger, Harald; Breuss, Fritz
    Several studies suggest that the introduction of the Euro has triggered sizeable increases in intra-Euro area trade. In this paper we test whether these gains are distributed asymmetrically among Euro area countries with respect to country size. This hypothesis is motivated by Casella (1996), who postulates that small countries of a trade bloc gain more from its enlargement. We argue that the implications of this model do also apply to the introduction of a common currency and test for a small country bonus using aggregate trade data and disaggregated trade data at the SITC1, SITC2, and SITC3 level. The results...

  9. Trade Effects of the Euro. Small Countries, Large Gains!

    Badinger, Harald; Breuss, Fritz
    Several studies suggest that the introduction of the Euro has triggered sizeable increases in intra-Euro area trade. In this paper we test whether these gains are distributed asymmetrically among Euro area countries with respect to country size. This hypothesis is motivated by Casella (1996), who postulates that small countries of a trade bloc gain more from its enlargement. We argue that the implications of this model do also apply to the introduction of a common currency and test for a small country bonus using aggregate trade data and disaggregated trade data at the SITC1, SITC2, and SITC3 level. The results...

  10. Trade Effects of the Euro. Small Countries, Large Gains!

    Badinger, Harald; Breuss, Fritz
    Several studies suggest that the introduction of the Euro has triggered sizeable increases in intra-Euro area trade. In this paper we test whether these gains are distributed asymmetrically among Euro area countries with respect to country size. This hypothesis is motivated by Casella (1996), who postulates that small countries of a trade bloc gain more from its enlargement. We argue that the implications of this model do also apply to the introduction of a common currency and test for a small country bonus using aggregate trade data and disaggregated trade data at the SITC1, SITC2, and SITC3 level. The results...

  11. Capital Taxation and Economic Performance

    Zagler, Martin
    A new technology is a bold new combination of production factors that potentially yields a higher level of total factor productivity. The optimal combination of input factors is unknown when an innovation is pursued. A larger targeted innovation may require a greater change in the optimal combination of production factors employed and increases volatility alongside with economic growth. We show that economic policy can interfere in this relationship with by adjusting source based capital income taxes. (author's abstract)

  12. Capital Taxation and Economic Performance

    Zagler, Martin
    A new technology is a bold new combination of production factors that potentially yields a higher level of total factor productivity. The optimal combination of input factors is unknown when an innovation is pursued. A larger targeted innovation may require a greater change in the optimal combination of production factors employed and increases volatility alongside with economic growth. We show that economic policy can interfere in this relationship with by adjusting source based capital income taxes.

  13. Implementing a Class of Permutation Tests: The coin Package

    Hothorn, Torsten; Hornik, Kurt; van de Wiel, Mark A.; Zeileis, Achim
    The R package coin implements a unified approach to permutation tests providing a huge class of independence tests for nominal, ordered, numeric, and censored data as well as multivariate data at mixed scales. Based on a rich and flexible conceptual framework that embeds different permutation test procedures into a common theory, a computational framework is established in coin that likewise embeds the corresponding R functionality in a common S4 class structure with associated generic functions. As a consequence, the computational tools in coin inherit the flexibility of the underlying theory and conditional inference functions for important special cases can be...

  14. Implementing a Class of Permutation Tests: The coin Package

    Hothorn, Torsten; Hornik, Kurt; van de Wiel, Mark A.; Zeileis, Achim
    The R package coin implements a unified approach to permutation tests providing a huge class of independence tests for nominal, ordered, numeric, and censored data as well as multivariate data at mixed scales. Based on a rich and flexible conceptual framework that embeds different permutation test procedures into a common theory, a computational framework is established in coin that likewise embeds the corresponding R functionality in a common S4 class structure with associated generic functions. As a consequence, the computational tools in coin inherit the flexibility of the underlying theory and conditional inference functions for important special cases can be...

  15. Hybrid Finance in the Double Tax Treaties

    Six, Martin
    The compartmentalisation of company finance into equity and debt does not truly capture the enormous diversity of financial instruments available. A wide variety of hybrid instruments incorporate elements of both equity and debt. From a fiscal point of view the classification of such hybrid instruments as equity or debt is crucial for two reasons. First of all, the issuer can treat interest on the latter as tax-deductible in most cases, and secondly, for the investor the classification determines whether the payments received from the respective instrument is treated as a dividend or as interest. One important question in this context...

  16. The Consequences of Hybrid Finance in Thin Capitalization Situations. An Analysis of the Substantive Scope of National Thin Capitalization Rules with special Emphasis on Hybrid Financial Instruments.

    Klostermann, Margret
    The choice of corporate finance is an important source of tax planning opportunities for multinational companies. Investing companies have to be aware of inconsistent tax classification of equity and debt between countries in particular. Additionally, thin capitalization rules have to be taken into account. In response to changing corporate needs the present paper focuses on the tax consequences of hybrid financial instruments. Only some literature exists on cross-border hybrid finance. Especially the linkage between the two areas - hybrid finance and thin capitalization - both on a national and international level had to be dealt with academically. The paper analyses...

  17. Innovation und Wissensnetze im Wiener Informations- und Kommunikationtechnologiecluster

    Trippl, Michaela; Lengauer, Lukas; Tödtling, Franz
    Der IKT-Sektor gilt als einer der wichtigsten Bereiche der im Entstehen begriffenen Wissensökonomie. Ein entsche idendes Wettbewerbskriterium in diesem Wirtschaftszweig stellt die Fähigkeit zur Generierung von radikaleren Formen von Innovation dar. Im vorliegenden Forschungsbericht wurden das Innovationsgeschehen im Wiener IKT-Cluster untersucht und die diesem zu Grunde liegenden Wissensquellen näher analysiert. Die Hauptziele der Studie bestanden darin, Erkenntnisse in Bezug auf die Bedeutung verschiedener Wissensnetze und ihrer räumlichen Ausprägung zu generieren und die wichtige Dimension der politischen Steuerung der Clusterentwicklung zu erforschen. In einem ersten Schritt wurde eine Auswertung der wissenschaftlichen Literatur zu den Innovationsmustern und zur Clusterentwicklung im IKT-Sektor durchgeführt...

  18. Knowledge Spillover Agents and Regional Development

    Trippl, Michaela; Maier, Gunther
    It is widely recognised that knowledge and highly skilled individuals as "carriers" of knowledge (i.e. knowledge spillover agents) play a key role in impelling the development and growth of cities and regions. In this paper we discuss the relation between the mobility of talent and knowledge flows. In this context, several issues are examined, including the role of highly skilled labour for regional development, the features that characterise knowledge spillovers through labour mobility, the key factors for attracting and retaining talent as well as the rise of "brain gain" policies. Although the paper deals with highly skilled mobility and migration...

  19. A Prototype Model of EU's 2007 Enlargement

    Breuss, Fritz
    EU's 2007 enlargement by Bulgaria and Romania is evaluated by applying a simple macroeconomic integration model able to encompass as many of the theoretically predicted integration effects possible. The direct integration effects of Bulgaria and Romania spill-over to EU15, including Austria and the 10 new member states of the 2004 EU enlargement. The pattern of the integration effects is qualitatively similar to those of EU's 2004 enlargement by 10 new member states. Bulgaria and Romania gain much more from EU accession than the incumbents in the proportion of 20:1. In the medium-run up to 2020, Bulgaria and Romania can expect...

  20. Benchmarking Open-Source Tree Learners in R/RWeka

    Schauerhuber, Michael; Zeileis, Achim; Meyer, David; Hornik, Kurt
    The two most popular classification tree algorithms in machine learning and statistics - C4.5 and CART - are compared in a benchmark experiment together with two other more recent constant-fit tree learners from the statistics literature (QUEST, conditional inference trees). The study assesses both misclassification error and model complexity on bootstrap replications of 18 different benchmark datasets. It is carried out in the R system for statistical computing, made possible by means of the RWeka package which interfaces R to the open-source machine learning toolbox Weka. Both algorithms are found to be competitive in terms of misclassification error - with...

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