Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Estimation and Inference in Econometrics

We test the hypothesis that information and communication technologies (ICT) polarize labor markets by increasing demand for the highly educated at the expense of the middle educated, with little effect on low-educated workers. Using data on the United States, Japan, and nine European countries from 1980 to 2004, we find that industries with faster ICT growth shifted demand from middle-educated workers to highly educated workers, consistent with ICT-based polarization. Trade openness is also associated with polarization, but this is not robust to controlling for R&D. Technologies account for up to a quarter of the growth in demand for highly educated workers.

/pdf/has-ict-polarized-skill-demand-evidence-from-eleven-a9zj8m83ix.pdf

Has ICT Polarized Skill Demand? Evidence from Eleven Countries over Twenty-Five Years

国民経済核算体系 : System of National Accounts

This paper analyzes the impact of information and communication technologies (ICT) on economic growth in developing, emerging and developed countries. It is based on a sample of 59 countries for the period 1995 to 2010. Various panel data regressions confirm the positive relationship between ICT capital and GDP growth. The regressions for the subsamples of developing, emerging and developed countries do not reveal statistically significant differences of the output elasticity of ICT between these three country groups.

/pdf/ict-and-economic-growth-comparing-developing-emerging-and-2c4gqzfu5g.pdf

ICT and Economic Growth – Comparing Developing, Emerging and Developed Countries

https://ftp.zew.de/pub/zew-docs/dp/dp14117.pdf

ICT and economic growth : comparing developing, emerging and developed countries

It is still an open question whether increasing life expectancy as such causes higher health care expenditures (HCE) in a population. According to the “red herring” hypothesis, the positive correlation between age and HCE is exclusively due to the fact that mortality rises with age and a large share of HCE is caused by proximity to death. As a consequence, rising longevity—through falling mortality rates—may even reduce HCE. However, a weakness of many previous empirical studies is that they use cross-sectional evidence to make inferences on a development over time. In this paper, we analyse the impact of rising longevity on the trend of HCE over time by using data from a pseudo-panel of German sickness fund members over the period 1997–2009. Using (dynamic) panel data models, we find that age, mortality and 5-year survival rates each have a positive impact on per-capita HCE. Our explanation for the last finding is that physicians treat patients more aggressively if the results of these treatments pay off over a longer time span, which we call “Eubie Blake effect”. A simulation on the basis of an official population forecast for Germany is used to isolate the effect of demographic ageing on real per-capita HCE over the coming decades. We find that, while falling mortality rates as such lower HCE, this effect is more than compensated by an increase in remaining life expectancy so that the net effect of ageing on HCE over time is clearly positive.

/pdf/health-care-expenditures-and-longevity-is-there-a-eubie-1fzxlxeolp.pdf

Health care expenditures and longevity: is there a Eubie Blake effect?

This paper analyzes the relationship between firms’ use of big data analytics and their innovative performance for product innovations. Since big data technologies provide new data information practices, they create new decision-making possibilities, which firms can use to realize innovations. Applying German firm-level data we find suggestive evidence that big data analytics matters for the likelihood of becoming a product innovator as well as the market success of the firms’ product innovations. The regression analysis reveals that firms which make use of big data have a higher likelihood of realizing product innovations as well as a higher innovation intensity. Interestingly, the results are of equal magnitude in the manufacturing and services industries. The results support the view that big data analytics have the potential to enable innovation.

https://www.tandfonline.com/doi/pdf/10.1080/10438599.2018.1493075

BIG data – BIG gains? Understanding the link between big data analytics and innovation

We provide a structured overview of the quantitative research on the economic impacts of broadband internet. Differentiating between wireline and wireless technologies as well as broadband availability and broadband adoption, respectively, we review studies investigating the impacts on economic growth, employment and regional development as well as productivity and firm performance. Eventually, the survey does not only allow the identification of main research gaps but also provides useful information for policy makers on the significance and importance of communication networks for social welfare.

Thomas Niebel

Papers

ICT and Economic Growth – Comparing Developing, Emerging and Developed Countries

ICT and economic growth : comparing developing, emerging and developed countries

Health care expenditures and longevity: is there a Eubie Blake effect?

BIG data – BIG gains? Understanding the link between big data analytics and innovation

The Economic Impacts of Broadband Internet: A Survey