Researchers may want to know whether an observed statistical relationship is either meaningfully negative, meaningfully positive, or small enough to be considered practically equivalent to zero. Such a question can not be addressed with standard null hypothesis significance testing, nor with...

Determining potential output and the output gap-two inherently unobservable variables-is a major challenge for macroeconomists. This paper presents the R package sectorgap, which features a flexible modeling and estimation framework for a multivariate Bayesian state space model identifying...

Researchers may want to know whether an observed statistical relationship is either meaningfully negative, meaningfully positive, or small enough to be considered practically equivalent to zero. Such a question can not be addressed with standard null hypothesis significance testing, nor with...

The rapid development of artificial intelligence (AI) has significantly transformed digital marketing enhancing its effectiveness and raising new ethical and privacy concerns. This study investigates the ethical implications of AI-based digital marketing, particularly focusing on user privacy....

This reprint concerns methods of data analysis for risk management in economics, finance, and business. The presented papers contain research on data analysis methods, including classical statistical methods, and machine learning methods that have emerged from statistics and are being...

Determining potential output and the output gap-two inherently unobservable variables-is a major challenge for macroeconomists. This paper presents the R package sectorgap, which features a flexible modeling and estimation framework for a multivariate Bayesian state space model identifying...

Multimodal empirical distributions arise in many fields like Astrophysics, Bioinformatics, Climatology and Economics due to the heterogeneity of the underlying populations. Mixture processes are a popular tool for accurate approximation of such distributions and implied mode detection. Using...

Protean and boundaryless careers have emerged as new ways of handling careers in organizations. This concept is gaining a significant place in career studies. In line with this, the current study examines the relationship between the underlying dimensions of protean (self-direction and...

Multimodal empirical distributions arise in many fields like Astrophysics, Bioinformatics, Climatology and Economics due to the heterogeneity of the underlying populations. Mixture processes are a popular tool for accurate approximation of such distributions and implied mode detection. Using...

Chapter 1. Statistics and Empirical Research -- Chapter 2. From Disarray to Dataset -- Chapter 3. Univariate Data Analysis -- Chapter 4. Bivariate Association -- Chapter 5. Classical Measurement Theory -- Chapter 6. Calculating Probability -- Chapter 7. Random Variables and Probability...

Choice under Uncertainty -- Modern Portfolio Theory -- The Capital Asset Pricing Model -- Empirical Analysis of the CAPM -- The Consumption CAPM -- Arbitrage Pricing Theory and Multi-factor Models -- Empirical Cross-Sectional Asset Pricing -- The Black-Litterman Model -- Event-Study Analysis.

The neutral real rate of interest (r*) is a key variable for assessing the tightness of monetary policy. The neutral real interest rate has by all accounts fallen substantially over the past three decades, amid slowing productivity growth, an ageing population, increased inequality and increased...

The credit scoring industry has a long tradition of using statistical models for loan default probability prediction. Since this time methodology has strongly evolved, and most of the current research is dedicated to modern machine learning algorithms which contrasts with common practice in the...

New challenges arise in data visualization when the research involves a sizable database. With many data points, classical scatterplots are non-informative due to the cluttering of points. On the contrary, simple plots, such as the boxplot that are of limited use in small samples, offer great...

The credit scoring industry has a long tradition of using statistical models for loan default probability prediction. Since this time methodology has strongly evolved, and most of the current research is dedicated to modern machine learning algorithms which contrasts with common practice in the...

New challenges arise in data visualization when the research involves a sizable database. With many data points, classical scatterplots are non-informative due to the cluttering of points. On the contrary, simple plots, such as the boxplot that are of limited use in small samples, offer great...

The neutral real rate of interest (r*) is a key variable for assessing the tightness of monetary policy. The neutral real interest rate has by all accounts fallen substantially over the past three decades, amid slowing productivity growth, an ageing population, increased inequality and increased...

Benefits of Machine Learning and Artificial Intelligence -- Machine Learning -- Best Practices -- Setting Up the R Development Environment -- Fundamentals of the R Programming Language -- Machine Learning with R -- Application of Machine Learning with R -- Outlook.

1. The classical linear regression model -- 2. Some important spatial definitions -- 3. Spatial linear regression models -- 4. Further topics in spatial econometrics -- 5. Alternative spatial model specifications in the era of Big Data -- 6. Conclusions: What’s next?.

We build a novel macro-finance model that combines a semi-structural macroeconomic module with arbitrage-free yield-curve dynamics. We estimate it for the United States and the euro area using a Bayesian approach and jointly infer the real equilibrium interest rate (r*), trend inflation (Û*),...

This paper assesses how globalisation has shaped the economic environment in which the ECB operates and discusses whether this warrants adjustments to the monetary policy strategy. The paper first looks at how trade and financial integration have evolved since the last strategy review in 2003....

We build a novel macro-finance model that combines a semi-structural macroeconomic module with arbitrage-free yield-curve dynamics. We estimate it for the United States and the euro area using a Bayesian approach and jointly infer the real equilibrium interest rate (r*), trend inflation (π*),...

This paper assesses how globalisation has shaped the economic environment in which the ECB operates and discusses whether this warrants adjustments to the monetary policy strategy. The paper first looks at how trade and financial integration have evolved since the last strategy review in 2003....

Purpose Structural equation modeling (SEM) is a well-established and frequently applied method in various disciplines. New methods in the context of SEM are being introduced in an ongoing manner. Since formal proof of statistical properties is difficult or impossible, new methods are frequently...