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Estimating penalized spline regressions: theory and application to economics

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  • Alfred Greiner

Abstract

This article gives a brief survey of penalized spline smoothing. Penalized spline smoothing is a general nonparametric estimation technique which allows to fit smooth but else unspecified functions to empirical data. We depict the theory behind this estimation technique and we present an example demonstrating how this nonparametric estimation technique can help to gain insight into economics.

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  • Alfred Greiner, 2009. "Estimating penalized spline regressions: theory and application to economics," Applied Economics Letters, Taylor & Francis Journals, vol. 16(18), pages 1831-1835.
    • Handle: RePEc:taf:apeclt:v:16:y:2009:i:18:p:1831-1835
    DOI: 10.1080/13504850701719629
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    References listed on IDEAS

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    1. Henning Bohn, 1998. "The Behavior of U. S. Public Debt and Deficits," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(3), pages 949-963.
    2. S. N. Wood, 2000. "Modelling and smoothing parameter estimation with multiple quadratic penalties," Journal of the Royal Statistical Society Series B, Royal Statistical Society, vol. 62(2), pages 413-428.
    3. Ruppert,David & Wand,M. P. & Carroll,R. J., 2003. "Semiparametric Regression," Cambridge Books, Cambridge University Press, number 9780521780506.
    4. Ruppert,David & Wand,M. P. & Carroll,R. J., 2003. "Semiparametric Regression," Cambridge Books, Cambridge University Press, number 9780521785167.
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    Cited by:

    1. Neil Lawton & Liam A. Gallagher, 2020. "The negative side of inflation targeting: revisiting inflation uncertainty in the EMU," Applied Economics, Taylor & Francis Journals, vol. 52(29), pages 3186-3203, June.
    2. Bettina Fincke & Alfred Greiner, 2015. "On the relation between public debt and economic growth: an empirical investigation," Economics and Business Letters, Oviedo University Press, vol. 4(4), pages 137-150.
    3. Alfred Greiner & Willi Semmler & Tobias Mette, 2012. "An Economic Model of Oil Exploration and Extraction," Computational Economics, Springer;Society for Computational Economics, vol. 40(4), pages 387-399, December.
    4. Ozer Ozdemir & Memmedaga Memmedli & Akhlitdin Nizamitdinov, 2013. "ANN Models and Bayesian Spline Models for Analysis of Exchange Rates and Gold Price," International Econometric Review (IER), Econometric Research Association, vol. 5(2), pages 53-69, September.
    5. Widłak, Marta & Waszczuk, Joanna & Olszewski, Krzysztof, 2014. "Spatial and hedonic analysis of house price dynamics in Warsaw," MPRA Paper 60479, University Library of Munich, Germany.

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