Aggregation in Economic Research

Name: Aggregation in Economic Research
Brand: Springer
SKU: 9789400963368
Price: 860.06 RON
Availability: InStock

From Individual to Macro Relations

Autor: J. van Daal, A.H. Merkies

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Editura: Springer

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Our interest in problems of aggregation originates from about seven years ago when we became involve...

Informații despre carte

Autor

J. van Daal, A.H. Merkies

Limbă

engleză

Legare

Carte - Carte broșată

Publicat

2011

Pagini

321

EAN

9789400963368

ISBN

940096336X

Enbook ID

02177205

Editura

Springer

Greutate

499

Dimensiuni

152 x 223 x 19

Descriere completă

Our interest in problems of aggregation originates from about seven years ago when we became involved in research in the field of applied microeconomics. To our astonishment a vast majority of researchers in this area took it for granted that their, mostly thoroughly derived, micro models could meaningfully be confronted with per capita data. Nany of them did not even realize - at least they gave no utterance to it - that applying macro data in micro models raises considerable problems. Those who did mention the difficulty, almost always belittled its importance. Fortunately, there are noteworthy exceptions. Thinking about aggregation raises at least two questions: "Why or why not aggregate?" and "How to aggregate and, in particular, to what degree?" General answers to these questions can only be given in uninformative wording (as many assertions in economics): one aggregates for the sake of tractability, because of the lack of (individual) data, to avoid or to reduce multicollineartiy, to save degrees of freedom; one abstains from aggregation to avoid loss of information, to avoid aggregation biases and one aggregates such and to such degree as to bypass or reduce the drawbacks mentioned above.

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Aggregation in Economic Research

From Individual to Macro Relations

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