Frontmatter -- Contents -- Acknowledgements -- Summary -- PART I: Generalities and Scope of the Book -- 1 Generalities -- PART II: Statistical Theory of Information and Generalised Inverse Problem -- 1 Information and its Main Quantitative Properties -- 2 Ill-posed Inverse Problem Solution and the Maximum Entropy Principle -- Part III: Updating and Forecasting Input-Output Transaction Matrices -- 1 Introduction -- 2 The System of National Accounts -- 3 The Input-Output (IO) Table and its Main Application -- PART IV: Social Accounting Matrix -- 1 Position of the Problem -- 2 A SAM as a Walrasian Equilibrium Framework -- 3 The Social Accounting Matrix (SAM) Framework -- 4 Balancing a SAM -- 5 A SAM and Multiplier Analysis: Economic Linkages and Multiplier Effects -- PART V: Computable General Equilibrium Models -- 1 A Historical Perspective -- 2 The CGE Model Among Other Models -- 3 Optimal Behaviour And The General Equilibrium Model -- 4 From a SAM to a CGE Model: a Cobb-Douglas Economy -- 5 Estimating the CGE Model Through the Maximum Entropy Principle -- Part VI: From Equilibrium to Real World Disequilibrium: An Environmental Model -- 1 Introduction -- 2 Extending to an Environmental Model -- 3 Compensatory and Equivalent Variations: Two Types of Welfare Measurement -- 1 Concluding Remarks -- Appendix -- Annex C. Computational Aspects of Using GAMS -- Annex D. Recovery of Pollutant Emissions by Industrial Sector and Region: an Instructional Case -- Index of Subject -- Index of Authors.

Non-extensive Entropy Econometrics for Low Frequency Series provides a new and robust power-law-based, non-extensive entropy econometrics approach to the economic modelling of ill-behaved inverse problems. Particular attention is paid to national account-based general equilibrium models known for their relative complexity. In theoretical terms, the approach generalizes Gibbs-Shannon-Golan entropy models, which are useful for describing ergodic phenomena. In essence, this entropy econometrics approach constitutes a junction of two distinct concepts: Jayne's maximum entropy principle and the Bayesian generalized method of moments. Rival econometric techniques are not conceptually adapted to solving complex inverse problems or are seriously limited when it comes to practical implementation. Recent literature showed that amplitude and frequency of macroeconomic fluctuations do not substantially diverge from many other extreme events, natural or human-related, once they are explained in the same time (or space) scale. Non-extensive entropy is a precious device for econometric modelling even in the case of low frequency series, since outputs evolving within the Gaussian attractor correspond to the Tsallis entropy limiting case of Tsallis q-parameter around unity. This book introduces a sub-discipline called Non-extensive Entropy Econometrics or, using a recent expression, Superstar Generalised Econometrics. It demonstrates, using national accounts-based models, that this approach facilitates solving nonlinear, complex inverse problems, previously considered intractable, such as the constant elasticity of substitution class of functions. This new proposed approach could extend the frontier of theoretical and applied econometrics.

In English.

Online resource; title from PDF title page (publisher's Web site, viewed 24. Jul 2017).

Includes bibliographical references and indexes.

Open Access EbpS