Different Types of "Asymptotics"

When econometricians talk about the "asymptotic" properties of their estimators or tests, they're usually referring to their properties when the sample size becomes infinitely large. However, there are other types of "asymptotics" that are also interesting and important. It's worth being aware of this, and of the way they arise in econometric analysis.

Solving Mathematical Problems - the Tricki

Hat-tip to Sean Brocklebank (Economics, University of Edinburgh), through the Subgame Equilibrium blog, for pointing us to The Tricki. 

This is a Wiki site devoted to discussing and explaining the methods of proof that are used in various areas of mathematics. Probability and Statistics are among the fields covered, although as yet there are no entries for the second of these two particular sections.

In the Elementary Probability section I especially liked the entry on "Bounding Probabilities by Expectations", where there are some examples of using Markov's Inequality to good effect.

In short, there's a wealth of great information for students and teachers of Econometrics alike. I'll certainly be using it, and I'll be looking forward to seeing some entries in the Statistics section.

© 2012, David E. Giles

Gastronometrica

If you were planning to participate in the Choconomics Conference this September, a useful warm-up might be the 2012 Conference of the Society for Quantification in Gastronomy (Gastronometrica).

Apparently Coimbra & Viseu (Portugal) is the place to be from 30 May to 2 June this year.


Too many temptations.....too little time!

© 2012, David E. Giles

Extracting the Correct Mean(ing) From the Data

We've all taken, and/or taught, an introductory course in descriptive statistics where we encounter measures of "central tendency", variability, summarizing grouped data, and so on. In such courses students are usually told about three ways of calculating the mean, or average, of a sample. These are the Arithmetic Mean, Geometric Mean, and Harmonic Mean. In my experience, economists often fail to use the most appropriate of these three measures. I think this is because often we don't provide enough motivation and explanation in those introductory courses.

In Praise of the Quick Retort

I don't know about you, but I'm highly envious of people who seem to be able to come up with the perfect retort, seemingly without even thinking. I tend to be of those who thinks of (what I consider to be) just the right remark - about 2 hours after it's needed! You could say I'm not that quick on my feet.

Granger Chair in Econometrics

Belated congratulations to Andres Santos and  Brendan Beare who were named in November as the inaugural co-holders of the Sir Clive W. J. Granger Endowed Chair in Econometrics, at the University of California, San Diego.

One of the really great things about this new Chair is that it's being used to support younger members of faculty in the UCSD Dept. of Economics. Santos and Beare are currently Assistant Professors there.

© 2012, David E. Giles

C. R. Rao

Earlier this year, Calyampudi Radhakrishna Rao received the Guy Medal in Gold, from the Royal Statistical Society. A statistician of world renown - indeed an icon in the profession - C. R. Rao is one of the last survivors of the "Golden Age of Statistics".

Cracking the Code of the Effective Exchange Rate

This is a post about using econometrics to crack a code. While this may seem a little strange, it's based on a true story, and it relates to the "effective exchange rate".

The Sage on the Stage

As a new teaching semester gets underway, it's interesting to ask: "Is there still a case to be made for the traditional academic lecture as an effective aid to learning?" 

New Year Resolutions

Well, here we go again! It's time of year that we make all of those resolutions - the ones that usually get broken before the holiday decorations have been packed away. Not this year, though!