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Summarizing Data using Partially Ordered Set Theory: An Application to Fiscal Frameworks in 97 Countries

Bachtrögler, Julia and Badinger, Harald and Fichet de Clairfontaine, Aurélien and Reuter, Wolf Heinrich (2014) Summarizing Data using Partially Ordered Set Theory: An Application to Fiscal Frameworks in 97 Countries. Department of Economics Working Paper Series, 181. WU Vienna University of Economics and Business, Vienna.

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Abstract

The widespread use of composite indices has often been motivated by their practicality to quantify qualitative data in an easy and intuitive way. At the same time, this approach has been challenged due to the subjective and partly ad hoc nature of computation, aggregation and weighting techniques as well as the handling of missing data. Partially ordered set (POSET) theory offers an alternative approach for summarizing qualitative data in terms of quantitative indices, which relies on a computation scheme that fully exploits the available information and does not require the subjective assignment of weights. The present paper makes the case for an increased use of POSET theory in the social sciences and provides a comparison of POSET indices and composite indices (from previous studies) measuring the 'stringency' of fiscal frameworks using data from the OECD Budget Practices and Procedures survey (2007/08). (authors' abstract)

Item Type: Paper
Keywords: Partially Ordered Set Theory / Composite Indices / Index Functions / Fiscal Frameworks / Fiscal Rules / Budgetary Procedures
Classification Codes: JEL C43, H60, E02, E62
Divisions: Departments > Volkswirtschaft
Depositing User: Claudia Tering-Raunig
Date Deposited: 20 Aug 2014 13:12
Last Modified: 23 Mar 2017 01:16
FIDES Link: https://bach.wu.ac.at/d/research/results/68126/
URI: http://epub.wu.ac.at/id/eprint/4283

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