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Preston Curve
The Preston curve is an empirical cross-sectional relationship between life expectancy and real per capita income. It is named after Samuel H. Preston who first described it in 1975. Preston studied the relationship for the 1900s, 1930s and the 1960s and found it held for each of the three decades. More recent work has updated this research. The relationship between life expectancy and income The Preston curve indicates that individuals born in richer countries, on average, can expect to live longer than those born in poor countries. However, the link between income and life expectancy flattens out. This means that at low levels of per capita income, further increases in income are associated with large gains in life expectancy, but at high levels of income, increased income has little associated change in life expectancy. In other words, if the relationship is interpreted as being causal, then there are diminishing returns to income in terms of life expectancy. A further signif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goodness Of Fit
The goodness of fit of a statistical model describes how well it fits a set of observations. Measures of goodness of fit typically summarize the discrepancy between observed values and the values expected under the model in question. Such measures can be used in statistical hypothesis testing, e.g. to test for normality of residuals, to test whether two samples are drawn from identical distributions (see Kolmogorov–Smirnov test), or whether outcome frequencies follow a specified distribution (see Pearson's chi-square test). In the analysis of variance, one of the components into which the variance is partitioned may be a lack-of-fit sum of squares. Fit of distributions In assessing whether a given distribution is suited to a data-set, the following tests and their underlying measures of fit can be used: * Bayesian information criterion *Kolmogorov–Smirnov test *Cramér–von Mises criterion *Anderson–Darling test * Shapiro–Wilk test *Chi-squared test *Akaike informat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gary Becker
Gary Stanley Becker (; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. He was a professor of economics and sociology at the University of Chicago, and was a leader of the third generation of the Chicago school of economics. Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007. A 2011 survey of economics professors named Becker their favorite living economist over the age of 60, followed by Kenneth Arrow and Robert Solow. Economist Justin Wolfers called him "the most important social scientist in the past 50 years." Becker was one of the first economists to analyze topics that had been researched in sociology, including racial discrimination, crime, family organization, and rational addiction. He argued that many different types of human behavior can be seen as rational and utility-maximizing, including those that a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Development
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives. The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for far longer. " Modernization", "Westernization", and especially "industrialization" are other terms often used while discussing economic development. Historically, economic development policies focused on industrialization and infrastructure; since the 1960s, it has increasingly focused on poverty reduction. Whereas economic development is a policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development". Economists primarily focus on the g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Angus Deaton
Sir Angus Stewart Deaton (born 19 October 1945) is a British economist and academic. Deaton is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public and International Affairs and the Economics Department at Princeton University. His research focuses primarily on poverty, inequality, health, wellbeing, and economic development. In 2015, he was awarded the Nobel Memorial Prize in Economic Sciences for his analysis of consumption, poverty, and welfare. Biography Deaton was born in Edinburgh, Scotland. He attended Hawick High School and then Fettes College as a foundation scholar, working at Portmeirion hotel in summer 1964. He earned his B.A., M.A. and Ph.D. degrees at the University of Cambridge, the last with a 1975 thesis entitled ''Models of Consumer Demand and Their Application to the United Kingdom'' under the supervision of Richard Stone''.'' At Cambridge, he was later a fellow a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Larry Summers
Lawrence Henry Summers (born November 30, 1954) is an American economist who served as the 71st United States secretary of the treasury from 1999 to 2001 and as director of the National Economic Council from 2009 to 2010. He also served as president of Harvard University from 2001 to 2006,"Historical Facts" Harvard University, retrieved March 31, 2017 where he is the Charles W. Eliot university professor and director of the Mossavar-Rahmani Center for Business and Government at . [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lant Pritchett
Lant Pritchett (born 1959) is an American development economist. He is the RISE Research Director at the Blavatnik School of Government, University of Oxford. He was born in Utah in 1959 and raised in Boise, Idaho. He graduated from Brigham Young University in 1983 with a B.S. in economics, after serving a mission for the Church of Jesus Christ of Latter-day Saints in Argentina (1978–1980). He graduated from the Massachusetts Institute of Technology in 1988 with a PhD in economics. He worked for the World Bank from 1988 to 2000 and from 2004 to 2007. He was a contributor to the first Copenhagen Consensus. In 1991 he said that he wrote the controversial Summers memo that supposedly advocated the exportation of polluting industries to poor countries, for which Summers was receiving widespread criticism. From 2000 to 2004 he was a lecturer in public policy at the John F. Kennedy School of Government at Harvard University. He is currently a professor of the practice of economic de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Concave Function
In mathematics, a concave function is the negative of a convex function. A concave function is also synonymously called concave downwards, concave down, convex upwards, convex cap, or upper convex. Definition A real-valued function f on an interval (or, more generally, a convex set in vector space) is said to be ''concave'' if, for any x and y in the interval and for any \alpha \in ,1/math>, :f((1-\alpha )x+\alpha y)\geq (1-\alpha ) f(x)+\alpha f(y) A function is called ''strictly concave'' if :f((1-\alpha )x + \alpha y) > (1-\alpha) f(x) + \alpha f(y)\, for any \alpha \in (0,1) and x \neq y. For a function f: \mathbb \to \mathbb, this second definition merely states that for every z strictly between x and y, the point (z, f(z)) on the graph of f is above the straight line joining the points (x, f(x)) and (y, f(y)). A function f is quasiconcave if the upper contour sets of the function S(a)=\ are convex sets. Properties Functions of a single variable # A differentiab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chronic Diseases
A chronic condition is a health condition or disease that is persistent or otherwise long-lasting in its effects or a disease that comes with time. The term ''chronic'' is often applied when the course of the disease lasts for more than three months. Common chronic diseases include diabetes, functional gastrointestinal disorder, eczema, arthritis, asthma, cancer, chronic obstructive pulmonary disease, Lyme disease, autoimmune diseases, genetic disorders and some viral diseases such as hepatitis C and acquired immunodeficiency syndrome. An illness which is lifelong because it ends in death is a terminal illness. It is possible and not unexpected for an illness to change in definition from terminal to chronic. Diabetes and HIV for example were once terminal yet are now considered chronic due to the availability of insulin for diabetics and daily drug treatment for individuals with HIV which allow these individuals to live while managing symptoms. In medicine, ''chronic'' conditi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infectious Diseases
An infection is the invasion of tissues by pathogens, their multiplication, and the reaction of host tissues to the infectious agent and the toxins they produce. An infectious disease, also known as a transmissible disease or communicable disease, is an illness resulting from an infection. Infections can be caused by a wide range of pathogens, most prominently bacteria and viruses. Hosts can fight infections using their immune system. Mammalian hosts react to infections with an innate response, often involving inflammation, followed by an adaptive response. Specific medications used to treat infections include antibiotics, antivirals, antifungals, antiprotozoals, and antihelminthics. Infectious diseases resulted in 9.2 million deaths in 2013 (about 17% of all deaths). The branch of medicine that focuses on infections is referred to as infectious disease. Types Infections are caused by infectious agents (pathogens) including: * Bacteria (e.g. ''Mycobacterium tuberculosis'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonparametric Regression
Nonparametric regression is a category of regression analysis in which the predictor does not take a predetermined form but is constructed according to information derived from the data. That is, no parametric form is assumed for the relationship between predictors and dependent variable. Nonparametric regression requires larger sample sizes than regression based on parametric models because the data must supply the model structure as well as the model estimates. Definition In nonparametric regression, we have random variables X and Y and assume the following relationship: : \mathbb \mid X=x= m(x), where m(x) is some deterministic function. Linear regression is a restricted case of nonparametric regression where m(x) is assumed to be affine. Some authors use a slightly stronger assumption of additive noise: : Y = m(X) + U, where the random variable U is the `noise term', with mean 0. Without the assumption that m belongs to a specific parametric family of functions it is impo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
