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Posterior Analysis of Environmental Damage Evaluation in Europe

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  • Efthymios Tsionas
  • George Halkos

Abstract

In this paper we consider environmental damage evaluation using two types of econometric models to analyse tree damage due to acid deposits, using cross-country data for several European countries. First, we use a set of univariate Poisson models and second, a multinomial probit model with the difference that we do not observe class specific data. The damage function is parameterized in terms of a number of economic and environmental variables. Statistical inference is conducted using Bayesian methods relying on Markov Chain Monte Carlo simulation. Natural by-products of our method include an implied ranking of countries according to environmental damage, and (exact, finite sample) posterior distributions of average country-specific environmental damage.

Suggested Citation

  • Efthymios Tsionas & George Halkos, 2000. "Posterior Analysis of Environmental Damage Evaluation in Europe," International Review of Applied Economics, Taylor & Francis Journals, vol. 14(3), pages 371-390.
    • Handle: RePEc:taf:irapec:v:14:y:2000:i:3:p:371-390
    DOI: 10.1080/02692170050084097
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    References listed on IDEAS

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    1. Halkos, George E, 1993. "Optimal sulphur emissions abatement in Europe," MPRA Paper 33536, University Library of Munich, Germany.
    2. Terza, Joseph V & Wilson, Paul W, 1990. "Analyzing Frequencies of Several Types of Events: A Mixed Multinomial-Poisson Approach," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 108-115, February.
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    6. Tsionas, Efthymios G., 1998. "Monte Carlo inference in econometric models with symmetric stable disturbances," Journal of Econometrics, Elsevier, vol. 88(2), pages 365-401, November.
    7. Kloek, Tuen & van Dijk, Herman K, 1978. "Bayesian Estimates of Equation System Parameters: An Application of Integration by Monte Carlo," Econometrica, Econometric Society, vol. 46(1), pages 1-19, January.
    8. Pearce, David, 1996. "Economic valuation and health damage from air pollution in the developing world," Energy Policy, Elsevier, vol. 24(7), pages 627-630, July.
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    Cited by:

    1. Dimitris K. Christopoulos & Efthymios G. Tsionas, 2005. "Productivity growth and inflation in Europe: Evidence from panel cointegration tests," Empirical Economics, Springer, vol. 30(1), pages 137-150, January.
    2. Dimitris Christopoulos & Efthymios Tsionas, 2002. "Unemployment and government size: Is there any credible causality?," Applied Economics Letters, Taylor & Francis Journals, vol. 9(12), pages 797-800.
    3. Dimitris Christopoulos & John Loizides & Efthymios Tsionas, 2005. "The Abrams curve of government size and unemployment: evidence from panel data," Applied Economics, Taylor & Francis Journals, vol. 37(10), pages 1193-1199.

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