The Experts below are selected from a list of 639 Experts worldwide ranked by ideXlab platform
Ragnar Nymoen - One of the best experts on this subject based on the ideXlab platform.
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Econometric Evaluation of the New Keynesian Phillips Curve*
Oxford Bulletin of Economics and Statistics, 2004Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:We give an appraisal of the New Keynesian Phillips curve (NPC) as an empirical model of European inflation. We show that existing evidence reported in favour of the NPC on Euro-area and country data is due to a corroborative research strategy. In particular, goodness-of-fit is a Weak Criterion, since the NPC-fit is well approximated by a random walk. Instead we report the outcome of more critical tests, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. Finally, encompassing tests are applied to open economy versions of the NPC for UK and Norway
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Testing the New Keynesian Phillips curve
Memorandum (institute of Pacific Relations American Council), 2003Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:The dynamic properties of the The New Keynesian Phillips curve (NPC) is analysed within the framework of a small system of linear di.erence equations.We evaluate the empirical results of existing studies which uses ‘Euroland’ and US data. The debate has been centered around the goodness-of-fit, but this is a Weak Criterion since the NPC-fit is typically well approximated by purely statistical models (e.g., a random walk). Several other parametric tests are then considered, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. We also highlight the role of existing studies in providing new information relative to that which underlies the typical NPC. This encompassing approach is applied to open economy versions of the NPC for UK and Norway.
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The Empirical (ir)Relevance of the New Keynesian Phillips Curve
2002Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:We give an appraisal of the New Keynesian Phillips curve (NPC) as an empirical model of European inflation. We show that existing evidence reported in favour of the NPC on Euro-area and country data is due to a corroborative research strategy. In particular, goodness-of-fit is a Weak Criterion, since the NPC-fit is well approximated by a random walk. Instead we report the outcome of more critical tests, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized.Finally, encompassing tests are applied to open economy versions of the NPC for UK and Norway.
Gunnar Bardsen - One of the best experts on this subject based on the ideXlab platform.
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Econometric Evaluation of the New Keynesian Phillips Curve*
Oxford Bulletin of Economics and Statistics, 2004Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:We give an appraisal of the New Keynesian Phillips curve (NPC) as an empirical model of European inflation. We show that existing evidence reported in favour of the NPC on Euro-area and country data is due to a corroborative research strategy. In particular, goodness-of-fit is a Weak Criterion, since the NPC-fit is well approximated by a random walk. Instead we report the outcome of more critical tests, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. Finally, encompassing tests are applied to open economy versions of the NPC for UK and Norway
-
Testing the New Keynesian Phillips curve
Memorandum (institute of Pacific Relations American Council), 2003Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:The dynamic properties of the The New Keynesian Phillips curve (NPC) is analysed within the framework of a small system of linear di.erence equations.We evaluate the empirical results of existing studies which uses ‘Euroland’ and US data. The debate has been centered around the goodness-of-fit, but this is a Weak Criterion since the NPC-fit is typically well approximated by purely statistical models (e.g., a random walk). Several other parametric tests are then considered, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. We also highlight the role of existing studies in providing new information relative to that which underlies the typical NPC. This encompassing approach is applied to open economy versions of the NPC for UK and Norway.
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The Empirical (ir)Relevance of the New Keynesian Phillips Curve
2002Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:We give an appraisal of the New Keynesian Phillips curve (NPC) as an empirical model of European inflation. We show that existing evidence reported in favour of the NPC on Euro-area and country data is due to a corroborative research strategy. In particular, goodness-of-fit is a Weak Criterion, since the NPC-fit is well approximated by a random walk. Instead we report the outcome of more critical tests, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized.Finally, encompassing tests are applied to open economy versions of the NPC for UK and Norway.
Andy Hwang - One of the best experts on this subject based on the ideXlab platform.
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Query answering via cooperative data inference
Journal of Intelligent Information Systems, 1994Co-Authors: Wesley W. Chu, Qiming Chen, Andy HwangAbstract:This paper proposes the use of accessible information (data/knowledge) to infer inaccessible data in a distributed database system. Inference rules are extracted from databases by means of knowledge discovery techniques. These rules can derive inaccessible data due to a site failure or network partition in a distributed system. Such query answering requires combining incomplete and partial information from multiple sources. The derived answer may be exact or approximate. Our inference process involves two phases to reason with reconstructed information. One phase involves using local rules to infer inaccessible data. A second phase involves merging information from different sites. We shall call such reasoning processes cooperative data inference. Since the derived answer may be incomplete, new algebraic tools are developed for supporting operations on incomplete information. A Weak Criterion called toleration is introduced for evaluating the inferred results. The conditions that assure the correctness of combining partial results, known as sound inference paths, are developed. A solution is presented for terminating an iterative reasoning process on derived data from multiple knowledge sources. The proposed approach has been implemented on a cooperative distributed database testbed, CoBase, at UCLA. The experimental results validate the feasibility of this proposed concept and can significantly improve the availability of distributed knowledge base/database systems.
William H. Hanson - One of the best experts on this subject based on the ideXlab platform.
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Ray on Tarski on Logical Consequence
Journal of Philosophical Logic, 1999Co-Authors: William H. HansonAbstract:In “Logical consequence: A defense of Tarski” (Journal of Philosophical Logic, vol. 25, 1996, pp. 617–677), Greg Ray defends Tarski"s account of logical consequence against the criticisms of John Etchemendy. While Ray"s defense of Tarski is largely successful, his attempt to give a general proof that Tarskian consequence preserves truth fails. Analysis of this failure shows that de facto truth preservation is a very Weak Criterion of adequacy for a theory of logical consequence and should be replaced by a stronger absence-of-counterexamples Criterion. It is argued that the latter Criterion reflects the modal character of our intuitive concept of logical consequence, and it is shown that Tarskian consequence can be proved to satisfy this Criterion for certain choices of logical constants. Finally, an apparent inconsistency in Ray"s interpretation of Tarski"s position on the modal status of the consequence relation is noted.
Eilev S. Jansen - One of the best experts on this subject based on the ideXlab platform.
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Econometric Evaluation of the New Keynesian Phillips Curve*
Oxford Bulletin of Economics and Statistics, 2004Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:We give an appraisal of the New Keynesian Phillips curve (NPC) as an empirical model of European inflation. We show that existing evidence reported in favour of the NPC on Euro-area and country data is due to a corroborative research strategy. In particular, goodness-of-fit is a Weak Criterion, since the NPC-fit is well approximated by a random walk. Instead we report the outcome of more critical tests, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. Finally, encompassing tests are applied to open economy versions of the NPC for UK and Norway
-
Testing the New Keynesian Phillips curve
Memorandum (institute of Pacific Relations American Council), 2003Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:The dynamic properties of the The New Keynesian Phillips curve (NPC) is analysed within the framework of a small system of linear di.erence equations.We evaluate the empirical results of existing studies which uses ‘Euroland’ and US data. The debate has been centered around the goodness-of-fit, but this is a Weak Criterion since the NPC-fit is typically well approximated by purely statistical models (e.g., a random walk). Several other parametric tests are then considered, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. We also highlight the role of existing studies in providing new information relative to that which underlies the typical NPC. This encompassing approach is applied to open economy versions of the NPC for UK and Norway.
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The Empirical (ir)Relevance of the New Keynesian Phillips Curve
2002Co-Authors: Gunnar Bardsen, Eilev S. Jansen, Ragnar NymoenAbstract:We give an appraisal of the New Keynesian Phillips curve (NPC) as an empirical model of European inflation. We show that existing evidence reported in favour of the NPC on Euro-area and country data is due to a corroborative research strategy. In particular, goodness-of-fit is a Weak Criterion, since the NPC-fit is well approximated by a random walk. Instead we report the outcome of more critical tests, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized.Finally, encompassing tests are applied to open economy versions of the NPC for UK and Norway.
