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This book is a treatise on empirical microeconomics: it describes the econometric theory of qualitative choice models and the empirical practice of modeling consumer demand for a heterogeneous commodity, housing. Accordingly, the book has two parts. The first part gives a self-contained survey of discrete choice models with emphasis on nested and related multinomial logit models. The second part concentrates on three sUbstantive questions about housing demand and how they can be answered using discrete choice models. Why combine these two distinct parts in one book? It is the interaction between theory and application in empirical microeconomics on which we focus in this book. Hence, emphasis in the methodological part is on practicability, and emphasis in the applied part is on the usage of the proper econometric specifications. Econometrics means measuring economic phenomena. Because nature (ironically, in the case of economics, this is most often the government) rarely provides us with well-defined economic experiments, measurement of economic phenomena usually requires an elaborate statistical apparatus that is able to separate concurrent and confounding phenomena. Discrete choice models have proved to be a very convenient apparatus to study the complex issues in housing demand. We present models, techniques, and statistical problems of discrete choice in the first and methodological part of the book, written in conventional textbook style.
Microeconomics --- Quantitative methods (economics) --- Germany --- United States --- Business & Economics --- Economic Theory --- United States of America
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The key to understanding household saving is obtaining appropriate data. Dealing with differences between rich and poor households, for example, or the old and the young, require observation of a large number of households. The focus of this study is to obtain data on many households from a number of different countries and to examine them in a coherent fashion. The hope is that through these observations we can learn about the ways policies affect savings and that other differences among savers can be controlled for, instead of being blamed on ""cultural differences* Features a consi
Pensions --- Saving and investment --- #SBIB:316.356.2H2370 --- #SBIB:316.8H40 --- #SBIB:33H15 --- Accumulation, Capital --- Capital accumulation --- Capital formation --- Investment and saving --- Saving and thrift --- Capital --- Supply-side economics --- Wealth --- Investments --- Compensation --- Pension plans --- Retirement pensions --- Superannuation --- Retirement income --- Annuities --- Social security individual investment accounts --- Vested benefits --- Gezin en levensstandaard, gezinsbudget --- Sociaal beleid: social policy, sociale zekerheid, verzorgingsstaat --- Economie: geld en krediet
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