Coefficients of Variations in Analysis of Macro-policy Effects: An Example of Two-Parameter Poisson-Dirichlet Distributions

Aoki, Masanao

doi:10.1007/978-3-540-73570-0_1

Masanao Aoki³

Part of the book series: Lecture Notes in Control and Information Sciences ((LNCIS,volume 364))

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Abstract

A class of two-parameter Poisson-Dirichlet distributions have non-vanishing coefficient of variation. This phenomenon is also known as non-self averaging stochastic multi-sector endogenous growth model. This model is used to raise questions on the use of means in assessing effectiveness of macroeconomic or other macro-policy effects. The coefficients of variations of the number of total sectors, and of sectors of a given size all remain positive as the model size grows unboundedly.

The author thanks M. Sibuya for useful discussions.

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Department of Economics, University of California, Los Angeles, Los Angeles, CA, 90095-1477, USA
Masanao Aoki

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Masanao Aoki
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Dipartimento di Tecnica e Gestione dei Sistemi Industriali, Università di Padova sede di Vicenza, stradella San Nicola, 3, I-36100, Vicenza, Italy
Alessandro Chiuso
Dipartimento di Ingegneria dell’Informazione, Università di Padova, via Gradenigo, 6/B, I-35131, Padova, Italy
Stefano Pinzoni & Augusto Ferrante &

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Aoki, M. (2007). Coefficients of Variations in Analysis of Macro-policy Effects: An Example of Two-Parameter Poisson-Dirichlet Distributions. In: Chiuso, A., Pinzoni, S., Ferrante, A. (eds) Modeling, Estimation and Control. Lecture Notes in Control and Information Sciences, vol 364. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-73570-0_1

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DOI: https://doi.org/10.1007/978-3-540-73570-0_1
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-73569-4
Online ISBN: 978-3-540-73570-0
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