Should Economists Use Open Source Software for Doing Research?

Yalta, A. Talha; Yalta, A. Yasemin

doi:10.1007/s10614-010-9204-4

Cited by 19 publications

(13 citation statements)

References 76 publications

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“…To highlight how depositing code and data, even if well documented, is not sufficient, consider the point raised by Yalta and Yalta (2012). They run accuracy tests on various econometrics software, looking at different versions of the same software.…”

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confidence: 99%

On the Need for a Replication Journal

Zimmermann¹

2015

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confidence: 99%

On the Need for a Replication Journal

Zimmermann¹

2015

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“…Development of the workbench and the underlying spatial econometric code as open source allows us to tap into powerful community peer review resources. Yalta and Yalta (2010) provide a number of impressive examples where open source processes have resulted in superior results relative to the proprietary model regarding the detection and correction of numerical inaccuracies in mainstream econometric software. This type of engagement blurs the distinction between researcher as consumer of scientific software to researcher as a collaborative producer with the end benefit of enhanced knowledge production and higher quality tool evolution.…”

Section: Resultsmentioning

confidence: 99%

Spatial econometrics in an age of CyberGIScience

Anselin

Rey

2012

International Journal of Geographical Information Science

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In this article, we focus on the evolution of the technology that lies at the basis of implementing spatial econometric methods into software tools. We review the changing methodological emphases and their implications for data structures and computational infrastructure required for estimation and inference. We review the evolution of software solutions, starting with SpaceStat and GeoDa and moving on to the PySAL open source library of spatial analytical functions (Rey and Anselin 2010, PySAL: a Python library of spatial analytical methods. In: M.M. Fischer and A. Getis, eds. Handbook of applied spatial analysis. Berlin: Springer,[175][176][177][178][179][180][181][182][183][184][185][186][187][188][189][190][191][192][193]. We compare these approaches with other software solutions, such as the R spatial analytical routines and recently released Stata functionality for spatial econometrics. We follow the review with a discussion of requirements and challenges encountered when moving these software tools into a CyberGIScience framework. We focus on the efficient data structures, the need for metadata and provenance tracking, as well as high-performance computing requirements. We close with the outline of a vision for a 'spatial econometrics workbench' as a core component of cyberinfrastructure for GIScience.

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“…The most important point to ascertain is the validity of the instruments. To ensure that the instruments used were still valid (Yalta and Yalta, 2012)…”

Section: Systematic Riskmentioning

confidence: 99%

Shari’ah screening, market risk and contagion: A multi-country analysis

Alaoui

Bacha

Masih

et al. 2016

Journal of Economic Behavior & Organization

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2016) 'Shari'ah screening, market risk and contagion : a multi-country analysis.', Journal of economic behavior and organization., 132 (Supplement). pp. 93-112.Additional information: Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. Abstract:This study investigates the relationship and shock transmission between firm leverage and systematic risk within the Shari'ah stock screening rules among seven European countries with a sample of 689 firms for the period from 2008 Q2 to 2013 Q1. Due to the fact that high leverage augments systematic risk and accentuates the firm's vulnerability to shocks, debt screening is used to examine the sampled portfolios. As it imposes limits on debt, we examined the impact of such an ethical screening and a risk moderating principle on stock volatility, susceptibility to contagion and the implications for portfolio diversification. Using a vector autoregressive dynamic panel of multicountry framework, systematic risk is analysed by taking into account firm characteristics, country effects, and the heterogeneity across firms, thereby ensuring the robustness of results. Our findings suggest that the systematic risk changes with changes in the capital structure; the Shari'ah-compliant stocks are shown in most cases to carry less risk than conventional stock, while they do not necessarily out-perform in terms of return; during the global financial crisis. We conclude that during the global financial crisis, Islamic compliant stocks demonstrated lower values of systematic risk in the case of 'Low Debt' portfolios when comparison to 'High Debt' portfolios.

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Should Economists Use Open Source Software for Doing Research?

Abstract: Open source, Econometric software, Gretl, Accuracy, Software reliability,

Cited by 19 publications

References 76 publications

On the Need for a Replication Journal

On the Need for a Replication Journal

Spatial econometrics in an age of CyberGIScience

Shari’ah screening, market risk and contagion: A multi-country analysis

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