ScienceGuy

The course by IMF focuses on the application of econometric techniques for modelling the dynamic behavior of macroeconomic variables, like, consumption, investment etc. and their response to policy changes. I.  EViews Basics II. Introduction to Forecasting     - Introduction     - Estimating/Forecasting Linear equation     - Forecasting III. Statistical properties of time series data     - Introduction to time series data     - Introduction to stationary processes     - Estimation of stationary time series and model selection     -  Testing for non-stationarity and unit roots IV. Forecast uncertainty and model evaluation     - Introduction     - Sources of uncertainty     - Statistics for forecast assessment     - Theil's U statistics     - Introduction to forecasting strategies     - Introduction to structural breaks     - Fan charts V. VAR     - Introduction     - Estimating VARs     - Forecasting with VARs     - Introduction to SVARs     - SVARs - identification, Impulse respons

Notes based on the lecture by Prof. Alwyn Young discuss types of technical processes, Uzawa's theorem and its implications. Click here  to read my notes. In the notes (above), we discussed Uzawa's theorem and the collorary. Also, the longer run data suggested that indeed the income shares are constant, suggesting the growth to be Harrod neutral. However, when we look at the recent data on global labour share, it is evident that this metric is actually falling. Looking at labour share for the USA, Japan, China and Germany, we observe a similar decline. Even looking at the investment shares, we observe a significant change. Looking closely at the aggregate income shares and shares in GDP of IPP (like patents, R&D, software etc), there's a huge rise in these, especially in the post-war period. In the earlier system of NA, IPP (the black line in the above figure) were counted as the intermediate costs. Hence, they were deducted from the income or the output. Sometimes, afte

Recently, I was transacting with a fruit vendor, to whom I owed Rs. 10. I had given him a coin of that amount for the payment (i.e. a rupee 10 coin). However, the vendor refused to accept, stating that the coin is no longer in use. To provide a context in this regard, a rumour had actually begun a couple of years back and spread like wildfire stating that Rs. 10 coin is no longer a legal mandate.  While the RBI has been trying hard since then to curb the fake news and clarify that the coin is a legal tender, at the ground level the message doesn't seem to have trickled. Another important aspect (which was brought forward by a budding economist fellow of mine during our discussion) is that the rejection of coin here does not comment on its carrying inconvenience. This is because the value of Rs. 10 for these small vendors is much more than the inconvenience in carrying them. Simultaneously, they would gladly be willing to accept other coins. For example, instead of 1-Rs. 10 coin, th

These are the notes from LSE MA 207 course which discusses the basic mathematics required for further studies at the postgraduate level in economics. I personally found this course very exhaustive and immensely helpful. Click here to read notes