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Glossary


A B C D E F G H I J K L M N O P Q R S T U V W X Y Z (Show all)

J statistic

In a GMM context, when there are more moment conditions than parameters to be estimated, a chi-square test can be used to test the overidentifying restrictions. The test statistic can be called the J statistic.
In more detail: Say there are q moment conditions and p parameters to be estimated. Let the weighting matrix be the inverse of the asymptotic covariance matrix. Let T be the sample size. Then T times the minimized value of the objective function (TJT(bT)) is asymptotically distributed with a chi-square distribution with (q-p) degrees of freedom.

Source: econterms

jackknife estimator

Has multiple, overlapping definitions numbered below: (1) kind of nonparametric estimator for a regression function. A jackknife estimator is a linear combination of kernel estimators with different window widths. Jackknife estimators have higher variance but less bias than kernel estimators. (Hardle, p. 145.) (2) creates a series of statistics, usually a parameter estimate, from a single data set by generating that statistic repeatedly on the data set leaving one data value out each time. This produces a mean estimate of the parameter and a standard deviation of the estimates of the parameter. (Nick Cox, in an email broadcast to Stata users on statalist, circa 7/5/2000.)

Source: econterms

JE

An occasional abbreviation for the academic journal Journal of Econometrics.

Source: econterms

JEH

An abbreviation for the Journal of Economic History.

Source: econterms

JEL

Journal of Economic Literature. See also JEL classification codes.

Source: econterms

JEL classification codes

These define a classification system for books and journal articles relevant to the economic researcher. The list has three levels of precision: categories A-Z, subcategories like A0-A2 (these are used to classify books), and sub-subcategories like A10-A14 (which are used to classify journal articles). The second level is detailed here; for the complete set of possible JEL codes see any issue, e.g. in the Sept 1997 issue, pages 1609-1620. The list below comes from that same issue, pages 1437-1439. A more up-to-date list is online at http://www.aeaweb.org/journal/elclasjn.html

A. General Economics and Teaching (A0 General, A1 General Economics, A2 Teaching of Economics)
B. Methodology and History of Economic Thought (B0 General, B1 History of Economic Thought through 1925, B2 History of Economic Thought since 1925, B3 History of Thought: Individuals, B4 Economic Methodology)
C. Mathematical and Quantitative Methods (C0 General, C1 Econometric and Statistical Methods: General, C2 Econometric and Statistical Methods: Single Equation Models, C3 Econometric and Statistical Methods: Multiple Equation Models, C4 Econometric and Statistical Methods: Special Topics, C5 Econometric Modeling, C6 Mathematical Methods and Programming, C7 Game Theory and Bargaining Theory, C8 Data Collection and Data Estimation Methodology; Computer Programs, C9 Design of Experiments)
D. Microeconomics (D0 General, D1 Household Behavior and Family Economics, D2 Production and Organizations, D3 Distribution, D4 Market Structure and Pricing, D5 General Equilibrium and Disequilibrium, D6 Economic Welfare, D7 Analysis of Collective Decision-Making, D8 Information and Uncertainty, D9 Intertemporal Choice and Growth)
E. Macroeconomics and Monetary Economics (E0 General, E1 General Aggregative Models, E2 Consumption, Saving, Production, Employment, and Investment, E3 Prices, Business Fluctuations, and Cycles, E4 Money and Interest Rates, E5 Monetary Policy, Central Banking and the Supply of Money and Credit, E6 Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook)
F. International Economics (F0 General, F1 Trade, F2 International Factor Movements and International Business, F3 International Finance, F4 Macroeconomic Aspects of International Trade and Finance) G. Financial Economics (G0 General, G1 General Financial Markets, G2 Financial and Institutions and Services, G3 Corporate Finance and Governance) H. Public Economics (H0 General, H1 Structure and Scope of Government, H2 Taxation and Susidies, H3 Fiscal Policies and Behavior of Economic Agents

Source: econterms

JEMS

An abbreviation for the Journal of Economics and Management Strategy.

Source: econterms

Jensen's inequality

If X is a real-valued random variable with E(|X|) finite and the function g() is convex, then E[g(X)] >= g(E[X]).
One application: By Jensen's inequality, E[X2] >= (E[X])2. Since the difference between these is the variance, we have just shown that any random variable for which E[X2] is finite has a variance and a mean.
This is the inequality one can refer to when showing that an investor with a concave utility function prefers a certain return to the same expected return with uncertainty.

Source: econterms

JEP

An abbreviation for the Journal of Economic Perspectives.

Source: econterms

JET

An abbreviation for the Journal of Economic Theory.

Source: econterms

JF

Journal of Finance

Source: econterms

JFE

Journal of Financial Economics

Source: econterms

JFI

Journal of Financial Intermediation, at http://www.bus.umich.edu/jfi/

Source: econterms

JHR

Journal of Human Resources

Source: econterms

JIE

An abbreviation for the Journal of Industrial Economics .

Source: econterms

JLE

An abbreviation for the Journal of Law and Economics.

Source: econterms

JLEO

An abbreviation for the Journal of Law, Economics and Organization.

Source: econterms

job lock

Describes the situation of a person with a U.S. job who is not free to leave for another job because the first job has medical benefits associated with it that the person needs, and the second one would not, perhaps because 'pre-existing conditions' are often not covered under U.S. health insurance.

Source: econterms

JOE

The monthly US publication Job Openings for Economists.

Source: econterms

journals

In the context of research economics these are academic periodicals, usually with peer-reviewed contents. An amazingly complete list of hyperlinks to journals is at the WebEc web site. Some are also in this glossary directly, below.
journals

Source: econterms

JPAM

Journal of Policy Analysis and Management

Source: econterms

JPE

Abbreviation for the Journal of Political Economy

Source: econterms

JPubE

Journal of Public Economics

Source: econterms

JRE

An abbreviation for the Journal of Regulatory Economics.

Source: econterms

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