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29,425 | em | This paper provides an introduction to structural estimation methods for
matching markets with transferable utility. | Structural Estimation of Matching Markets with Transferable Utility | 2021-09-16 15:29:14 | Alfred Galichon, Bernard Salanié | http://arxiv.org/abs/2109.07932v1, http://arxiv.org/pdf/2109.07932v1 | econ.EM |
29,133 | em | In this paper, we propose a model which simulates odds distributions of
pari-mutuel betting system under two hypotheses on the behavior of bettors: 1.
The amount of bets increases very rapidly as the deadline for betting comes
near. 2. Each bettor bets on a horse which gives the largest expectation value
of the benefit... | Efficiency in Micro-Behaviors and FL Bias | 2018-05-11 05:17:42 | Kurihara Kazutaka, Yohei Tutiya | http://arxiv.org/abs/1805.04225v1, http://arxiv.org/pdf/1805.04225v1 | econ.EM |
29,931 | em | This paper derives the efficiency bound for estimating the parameters of
dynamic panel data models in the presence of an increasing number of incidental
parameters. We study the efficiency problem by formulating the dynamic panel as
a simultaneous equations system, and show that the quasi-maximum likelihood
estimator (... | Efficiency of QMLE for dynamic panel data models with interactive effects | 2023-12-13 06:56:34 | Jushan Bai | http://arxiv.org/abs/2312.07881v1, http://arxiv.org/pdf/2312.07881v1 | econ.EM |
28,940 | em | Endogeneity and missing data are common issues in empirical research. We
investigate how both jointly affect inference on causal parameters.
Conventional methods to estimate the variance, which treat the imputed data as
if it was observed in the first place, are not reliable. We derive the
asymptotic variance and propo... | On the Effect of Imputation on the 2SLS Variance | 2019-03-26 19:42:59 | Helmut Farbmacher, Alexander Kann | http://arxiv.org/abs/1903.11004v1, http://arxiv.org/pdf/1903.11004v1 | econ.EM |
28,947 | em | We propose a model selection criterion to detect purely causal from purely
noncausal models in the framework of quantile autoregressions (QAR). We also
present asymptotics for the i.i.d. case with regularly varying distributed
innovations in QAR. This new modelling perspective is appealing for
investigating the presenc... | Identification of Noncausal Models by Quantile Autoregressions | 2019-04-11 23:49:57 | Alain Hecq, Li Sun | http://arxiv.org/abs/1904.05952v1, http://arxiv.org/pdf/1904.05952v1 | econ.EM |
28,965 | em | Complex functions have multiple uses in various fields of study, so analyze
their characteristics it is of extensive interest to other sciences. This work
begins with a particular class of rational functions of a complex variable;
over this is deduced two elementals properties concerning the residues and is
proposed on... | On the residues vectors of a rational class of complex functions. Application to autoregressive processes | 2019-07-12 23:46:56 | Guillermo Daniel Scheidereiter, Omar Roberto Faure | http://arxiv.org/abs/1907.05949v1, http://arxiv.org/pdf/1907.05949v1 | econ.EM |
29,080 | em | Many econometric models can be analyzed as finite mixtures. We focus on
two-component mixtures and we show that they are nonparametrically point
identified by a combination of an exclusion restriction and tail restrictions.
Our identification analysis suggests simple closed-form estimators of the
component distribution... | Inference on two component mixtures under tail restrictions | 2021-02-11 22:27:47 | Marc Henry, Koen Jochmans, Bernard Salanié | http://arxiv.org/abs/2102.06232v1, http://arxiv.org/pdf/2102.06232v1 | econ.EM |
29,093 | em | This paper establishes an extended representation theorem for unit-root VARs.
A specific algebraic technique is devised to recover stationarity from the
solution of the model in the form of a cointegrating transformation. Closed
forms of the results of interest are derived for integrated processes up to the
4-th order.... | Cointegrated Solutions of Unit-Root VARs: An Extended Representation Theorem | 2021-02-21 18:28:20 | Mario Faliva, Maria Grazia Zoia | http://arxiv.org/abs/2102.10626v1, http://arxiv.org/pdf/2102.10626v1 | econ.EM |
29,015 | em | The randomization inference literature studying randomized controlled trials
(RCTs) assumes that units' potential outcomes are deterministic. This
assumption is unlikely to hold, as stochastic shocks may take place during the
experiment. In this paper, we consider the case of an RCT with individual-level
treatment assi... | Clustering and External Validity in Randomized Controlled Trials | 2019-12-02 22:30:25 | Antoine Deeb, Clément de Chaisemartin | http://arxiv.org/abs/1912.01052v7, http://arxiv.org/pdf/1912.01052v7 | econ.EM |
28,777 | em | This article reviews recent advances in fixed effect estimation of panel data
models for long panels, where the number of time periods is relatively large.
We focus on semiparametric models with unobserved individual and time effects,
where the distribution of the outcome variable conditional on covariates and
unobserv... | Fixed Effect Estimation of Large T Panel Data Models | 2017-09-26 15:46:13 | Iván Fernández-Val, Martin Weidner | http://arxiv.org/abs/1709.08980v2, http://arxiv.org/pdf/1709.08980v2 | econ.EM |
28,778 | em | This paper considers the identification of treatment effects on conditional
transition probabilities. We show that even under random assignment only the
instantaneous average treatment effect is point identified. Since treated and
control units drop out at different rates, randomization only ensures the
comparability o... | Bounds On Treatment Effects On Transitions | 2017-09-26 15:46:40 | Johan Vikström, Geert Ridder, Martin Weidner | http://arxiv.org/abs/1709.08981v1, http://arxiv.org/pdf/1709.08981v1 | econ.EM |
28,779 | em | We propose an inference procedure for estimators defined by mathematical
programming problems, focusing on the important special cases of linear
programming (LP) and quadratic programming (QP). In these settings, the
coefficients in both the objective function and the constraints of the
mathematical programming problem... | Inference on Estimators defined by Mathematical Programming | 2017-09-26 19:24:52 | Yu-Wei Hsieh, Xiaoxia Shi, Matthew Shum | http://arxiv.org/abs/1709.09115v1, http://arxiv.org/pdf/1709.09115v1 | econ.EM |
28,780 | em | We analyze the empirical content of the Roy model, stripped down to its
essential features, namely sector specific unobserved heterogeneity and
self-selection on the basis of potential outcomes. We characterize sharp bounds
on the joint distribution of potential outcomes and testable implications of
the Roy self-select... | Sharp bounds and testability of a Roy model of STEM major choices | 2017-09-27 02:25:35 | Ismael Mourifie, Marc Henry, Romuald Meango | http://arxiv.org/abs/1709.09284v2, http://arxiv.org/pdf/1709.09284v2 | econ.EM |
28,781 | em | The ongoing net neutrality debate has generated a lot of heated discussions
on whether or not monetary interactions should be regulated between content and
access providers. Among the several topics discussed, `differential pricing'
has recently received attention due to `zero-rating' platforms proposed by some
service... | Zero-rating of Content and its Effect on the Quality of Service in the Internet | 2017-09-27 07:51:32 | Manjesh K. Hanawal, Fehmina Malik, Yezekael Hayel | http://arxiv.org/abs/1709.09334v2, http://arxiv.org/pdf/1709.09334v2 | econ.EM |
28,782 | em | The uncertainty and robustness of Computable General Equilibrium models can
be assessed by conducting a Systematic Sensitivity Analysis. Different methods
have been used in the literature for SSA of CGE models such as Gaussian
Quadrature and Monte Carlo methods. This paper explores the use of Quasi-random
Monte Carlo m... | Quasi-random Monte Carlo application in CGE systematic sensitivity analysis | 2017-09-28 01:54:30 | Theodoros Chatzivasileiadis | http://arxiv.org/abs/1709.09755v1, http://arxiv.org/pdf/1709.09755v1 | econ.EM |
28,783 | em | We propose a method of estimating the linear-in-means model of peer effects
in which the peer group, defined by a social network, is endogenous in the
outcome equation for peer effects. Endogeneity is due to unobservable
individual characteristics that influence both link formation in the network
and the outcome of int... | Estimation of Peer Effects in Endogenous Social Networks: Control Function Approach | 2017-09-28 18:41:48 | Ida Johnsson, Hyungsik Roger Moon | http://arxiv.org/abs/1709.10024v3, http://arxiv.org/pdf/1709.10024v3 | econ.EM |
28,784 | em | This paper considers the problem of forecasting a collection of short time
series using cross sectional information in panel data. We construct point
predictors using Tweedie's formula for the posterior mean of heterogeneous
coefficients under a correlated random effects distribution. This formula
utilizes cross-sectio... | Forecasting with Dynamic Panel Data Models | 2017-09-29 01:46:48 | Laura Liu, Hyungsik Roger Moon, Frank Schorfheide | http://arxiv.org/abs/1709.10193v1, http://arxiv.org/pdf/1709.10193v1 | econ.EM |
28,785 | em | There is a fast growing literature that set-identifies structural vector
autoregressions (SVARs) by imposing sign restrictions on the responses of a
subset of the endogenous variables to a particular structural shock
(sign-restricted SVARs). Most methods that have been used to construct
pointwise coverage bands for imp... | Inference for VARs Identified with Sign Restrictions | 2017-09-29 02:25:13 | Eleonora Granziera, Hyungsik Roger Moon, Frank Schorfheide | http://arxiv.org/abs/1709.10196v2, http://arxiv.org/pdf/1709.10196v2 | econ.EM |
28,786 | em | We systematically investigate the effect heterogeneity of job search
programmes for unemployed workers. To investigate possibly heterogeneous
employment effects, we combine non-experimental causal empirical models with
Lasso-type estimators. The empirical analyses are based on rich administrative
data from Swiss social... | Heterogeneous Employment Effects of Job Search Programmes: A Machine Learning Approach | 2017-09-29 11:21:08 | Michael Knaus, Michael Lechner, Anthony Strittmatter | http://dx.doi.org/10.3368/jhr.57.2.0718-9615R1, http://arxiv.org/abs/1709.10279v2, http://arxiv.org/pdf/1709.10279v2 | econ.EM |
28,787 | em | Dynamic contracts with multiple agents is a classical decentralized
decision-making problem with asymmetric information. In this paper, we extend
the single-agent dynamic incentive contract model in continuous-time to a
multi-agent scheme in finite horizon and allow the terminal reward to be
dependent on the history of... | A Note on the Multi-Agent Contracts in Continuous Time | 2017-10-01 20:07:08 | Qi Luo, Romesh Saigal | http://arxiv.org/abs/1710.00377v2, http://arxiv.org/pdf/1710.00377v2 | econ.EM |
28,788 | em | This paper presents a new estimator of the intercept of a linear regression
model in cases where the outcome varaible is observed subject to a selection
rule. The intercept is often in this context of inherent interest; for example,
in a program evaluation context, the difference between the intercepts in
outcome equat... | Rate-Optimal Estimation of the Intercept in a Semiparametric Sample-Selection Model | 2017-10-04 03:02:22 | Chuan Goh | http://arxiv.org/abs/1710.01423v3, http://arxiv.org/pdf/1710.01423v3 | econ.EM |
28,789 | em | Gale, Kuhn and Tucker (1950) introduced two ways to reduce a zero-sum game by
packaging some strategies with respect to a probability distribution on them.
In terms of value, they gave conditions for a desirable reduction. We show that
a probability distribution for a desirable reduction relies on optimal
strategies in... | A Note on Gale, Kuhn, and Tucker's Reductions of Zero-Sum Games | 2017-10-06 12:45:42 | Shuige Liu | http://arxiv.org/abs/1710.02326v1, http://arxiv.org/pdf/1710.02326v1 | econ.EM |
28,790 | em | This study proposes a simple technique for propensity score matching for
multiple treatment levels under the strong unconfoundedness assumption with the
help of the Aitchison distance proposed in the field of compositional data
analysis (CODA). | Propensity score matching for multiple treatment levels: A CODA-based contribution | 2017-10-24 03:27:47 | Hajime Seya, Takahiro Yoshida | http://arxiv.org/abs/1710.08558v1, http://arxiv.org/pdf/1710.08558v1 | econ.EM |
28,791 | em | We consider an index model of dyadic link formation with a homophily effect
index and a degree heterogeneity index. We provide nonparametric identification
results in a single large network setting for the potentially nonparametric
homophily effect function, the realizations of unobserved individual fixed
effects and t... | Nonparametric Identification in Index Models of Link Formation | 2017-10-30 23:32:12 | Wayne Yuan Gao | http://arxiv.org/abs/1710.11230v5, http://arxiv.org/pdf/1710.11230v5 | econ.EM |
28,792 | em | Web search data are a valuable source of business and economic information.
Previous studies have utilized Google Trends web search data for economic
forecasting. We expand this work by providing algorithms to combine and
aggregate search volume data, so that the resulting data is both consistent
over time and consiste... | Aggregating Google Trends: Multivariate Testing and Analysis | 2017-12-08 19:18:10 | Stephen L. France, Yuying Shi | http://arxiv.org/abs/1712.03152v2, http://arxiv.org/pdf/1712.03152v2 | econ.EM |
28,793 | em | We propose a new inferential methodology for dynamic economies that is robust
to misspecification of the mechanism generating frictions. Economies with
frictions are treated as perturbations of a frictionless economy that are
consistent with a variety of mechanisms. We derive a representation for the law
of motion for ... | Set Identified Dynamic Economies and Robustness to Misspecification | 2017-12-11 11:41:11 | Andreas Tryphonides | http://arxiv.org/abs/1712.03675v2, http://arxiv.org/pdf/1712.03675v2 | econ.EM |
28,794 | em | This paper defines the class of $\mathcal{H}$-valued autoregressive (AR)
processes with a unit root of finite type, where $\mathcal{H}$ is an infinite
dimensional separable Hilbert space, and derives a generalization of the
Granger-Johansen Representation Theorem valid for any integration order
$d=1,2,\dots$. An existe... | Cointegration in functional autoregressive processes | 2017-12-20 18:23:20 | Massimo Franchi, Paolo Paruolo | http://dx.doi.org/10.1017/S0266466619000306, http://arxiv.org/abs/1712.07522v2, http://arxiv.org/pdf/1712.07522v2 | econ.EM |
28,795 | em | High-dimensional linear models with endogenous variables play an increasingly
important role in recent econometric literature. In this work we allow for
models with many endogenous variables and many instrument variables to achieve
identification. Because of the high-dimensionality in the second stage,
constructing hon... | Simultaneous Confidence Intervals for High-dimensional Linear Models with Many Endogenous Variables | 2017-12-21 20:33:40 | Alexandre Belloni, Christian Hansen, Whitney Newey | http://arxiv.org/abs/1712.08102v4, http://arxiv.org/pdf/1712.08102v4 | econ.EM |
28,796 | em | This paper investigates the impacts of major natural resource discoveries
since 1960 on life expectancy in the nations that they were resource poor prior
to the discoveries. Previous literature explains the relation between nations
wealth and life expectancy, but it has been silent about the impacts of
resource discove... | Resource Abundance and Life Expectancy | 2018-01-01 01:43:39 | Bahram Sanginabadi | http://arxiv.org/abs/1801.00369v1, http://arxiv.org/pdf/1801.00369v1 | econ.EM |
28,797 | em | In this paper we estimate a Bayesian vector autoregressive model with factor
stochastic volatility in the error term to assess the effects of an uncertainty
shock in the Euro area. This allows us to treat macroeconomic uncertainty as a
latent quantity during estimation. Only a limited number of contributions to
the lit... | Implications of macroeconomic volatility in the Euro area | 2018-01-09 16:20:42 | Niko Hauzenberger, Maximilian Böck, Michael Pfarrhofer, Anna Stelzer, Gregor Zens | http://arxiv.org/abs/1801.02925v2, http://arxiv.org/pdf/1801.02925v2 | econ.EM |
28,798 | em | We report a new result on lotteries --- that a well-funded syndicate has a
purely mechanical strategy to achieve expected returns of 10\% to 25\% in an
equiprobable lottery with no take and no carryover pool. We prove that an
optimal strategy (Nash equilibrium) in a game between the syndicate and other
players consists... | A Method for Winning at Lotteries | 2018-01-05 22:35:17 | Steven D. Moffitt, William T. Ziemba | http://arxiv.org/abs/1801.02958v1, http://arxiv.org/pdf/1801.02958v1 | econ.EM |
28,799 | em | Despite its unusual payout structure, the Canadian 6/49 Lotto is one of the
few government sponsored lotteries that has the potential for a favorable
strategy we call "buying the pot." By buying the pot we mean that a syndicate
buys each ticket in the lottery, ensuring that it holds a jackpot winner. We
assume that the... | Does it Pay to Buy the Pot in the Canadian 6/49 Lotto? Implications for Lottery Design | 2018-01-06 00:58:18 | Steven D. Moffitt, William T. Ziemba | http://arxiv.org/abs/1801.02959v1, http://arxiv.org/pdf/1801.02959v1 | econ.EM |
28,800 | em | Dynamic Discrete Choice Models (DDCMs) are important in the structural
estimation literature. Since the structural errors are practically always
continuous and unbounded in nature, researchers often use the expected value
function. The idea to solve for the expected value function made solution more
practical and estim... | Solving Dynamic Discrete Choice Models: Integrated or Expected Value Function? | 2018-01-11 23:26:00 | Patrick Kofod Mogensen | http://arxiv.org/abs/1801.03978v1, http://arxiv.org/pdf/1801.03978v1 | econ.EM |
28,801 | em | This paper develops a new model and estimation procedure for panel data that
allows us to identify heterogeneous structural breaks. We model individual
heterogeneity using a grouped pattern. For each group, we allow common
structural breaks in the coefficients. However, the number, timing, and size of
these breaks can ... | Heterogeneous structural breaks in panel data models | 2018-01-15 09:19:28 | Ryo Okui, Wendun Wang | http://arxiv.org/abs/1801.04672v2, http://arxiv.org/pdf/1801.04672v2 | econ.EM |
28,802 | em | We characterize common assumption of rationality of 2-person games within an
incomplete information framework. We use the lexicographic model with
incomplete information and show that a belief hierarchy expresses common
assumption of rationality within a complete information framework if and only
if there is a belief h... | Characterizing Assumption of Rationality by Incomplete Information | 2018-01-15 12:48:20 | Shuige Liu | http://arxiv.org/abs/1801.04714v1, http://arxiv.org/pdf/1801.04714v1 | econ.EM |
28,803 | em | We first show (1) the importance of investigating health expenditure process
using the order two Markov chain model, rather than the standard order one
model, which is widely used in the literature. Markov chain of order two is the
minimal framework that is capable of distinguishing those who experience a
certain healt... | Quantifying Health Shocks Over the Life Cycle | 2018-01-26 13:35:38 | Taiyo Fukai, Hidehiko Ichimura, Kyogo Kanazawa | http://arxiv.org/abs/1801.08746v1, http://arxiv.org/pdf/1801.08746v1 | econ.EM |
28,804 | em | We define a modification of the standard Kripke model, called the ordered
Kripke model, by introducing a linear order on the set of accessible states of
each state. We first show this model can be used to describe the lexicographic
belief hierarchy in epistemic game theory, and perfect rationalizability can be
characte... | Ordered Kripke Model, Permissibility, and Convergence of Probabilistic Kripke Model | 2018-01-26 14:46:28 | Shuige Liu | http://arxiv.org/abs/1801.08767v1, http://arxiv.org/pdf/1801.08767v1 | econ.EM |
28,805 | em | Why women avoid participating in a competition and how can we encourage them
to participate in it? In this paper, we investigate how social image concerns
affect women's decision to compete. We first construct a theoretical model and
show that participating in a competition, even under affirmative action
policies favor... | How Can We Induce More Women to Competitions? | 2018-01-27 11:51:44 | Masayuki Yagasaki, Mitsunosuke Morishita | http://arxiv.org/abs/1801.10518v1, http://arxiv.org/pdf/1801.10518v1 | econ.EM |
28,806 | em | The rational choice theory is based on this idea that people rationally
pursue goals for increasing their personal interests. In most conditions, the
behavior of an actor is not independent of the person and others' behavior.
Here, we present a new concept of rational choice as a hyper-rational choice
which in this con... | Hyper-rational choice theory | 2018-01-12 02:16:09 | Madjid Eshaghi Gordji, Gholamreza Askari | http://arxiv.org/abs/1801.10520v2, http://arxiv.org/pdf/1801.10520v2 | econ.EM |
28,807 | em | We develop a new VAR model for structural analysis with mixed-frequency data.
The MIDAS-SVAR model allows to identify structural dynamic links exploiting the
information contained in variables sampled at different frequencies. It also
provides a general framework to test homogeneous frequency-based
representations vers... | Structural analysis with mixed-frequency data: A MIDAS-SVAR model of US capital flows | 2018-02-02 21:12:12 | Emanuele Bacchiocchi, Andrea Bastianin, Alessandro Missale, Eduardo Rossi | http://arxiv.org/abs/1802.00793v1, http://arxiv.org/pdf/1802.00793v1 | econ.EM |
28,808 | em | The development and deployment of matching procedures that incentivize
truthful preference reporting is considered one of the major successes of
market design research. In this study, we test the degree to which these
procedures succeed in eliminating preference misrepresentation. We administered
an online experiment t... | An Experimental Investigation of Preference Misrepresentation in the Residency Match | 2018-02-05 20:51:55 | Alex Rees-Jones, Samuel Skowronek | http://dx.doi.org/10.1073/pnas.1803212115, http://arxiv.org/abs/1802.01990v2, http://arxiv.org/pdf/1802.01990v2 | econ.EM |
28,809 | em | Consumers are creatures of habit, often periodic, tied to work, shopping and
other schedules. We analyzed one month of data from the world's largest
bike-sharing company to elicit demand behavioral cycles, initially using models
from animal tracking that showed large customers fit an Ornstein-Uhlenbeck
model with deman... | Prediction of Shared Bicycle Demand with Wavelet Thresholding | 2018-02-08 04:17:27 | J. Christopher Westland, Jian Mou, Dafei Yin | http://arxiv.org/abs/1802.02683v1, http://arxiv.org/pdf/1802.02683v1 | econ.EM |
28,810 | em | This paper describes a numerical method to solve for mean product qualities
which equates the real market share to the market share predicted by a discrete
choice model. The method covers a general class of discrete choice model,
including the pure characteristics model in Berry and Pakes(2007) and the
random coefficie... | A General Method for Demand Inversion | 2018-02-13 05:50:46 | Lixiong Li | http://arxiv.org/abs/1802.04444v3, http://arxiv.org/pdf/1802.04444v3 | econ.EM |
29,016 | em | This paper develops a set of test statistics based on bilinear forms in the
context of the extremum estimation framework with particular interest in
nonlinear hypothesis. We show that the proposed statistic converges to a
conventional chi-square limit. A Monte Carlo experiment suggests that the test
statistic works wel... | Bilinear form test statistics for extremum estimation | 2019-12-03 17:32:49 | Federico Crudu, Felipe Osorio | http://dx.doi.org/10.1016/j.econlet.2019.108885, http://arxiv.org/abs/1912.01410v1, http://arxiv.org/pdf/1912.01410v1 | econ.EM |
28,811 | em | We provide an epistemic foundation for cooperative games by proof theory via
studying the knowledge for players unanimously accepting only core payoffs. We
first transform each cooperative game into a decision problem where a player
can accept or reject any payoff vector offered to her based on her knowledge
about avai... | Knowledge and Unanimous Acceptance of Core Payoffs: An Epistemic Foundation for Cooperative Game Theory | 2018-02-13 15:49:12 | Shuige Liu | http://arxiv.org/abs/1802.04595v4, http://arxiv.org/pdf/1802.04595v4 | econ.EM |
28,812 | em | In this study interest centers on regional differences in the response of
housing prices to monetary policy shocks in the US. We address this issue by
analyzing monthly home price data for metropolitan regions using a
factor-augmented vector autoregression (FAVAR) model. Bayesian model estimation
is based on Gibbs samp... | The dynamic impact of monetary policy on regional housing prices in the US: Evidence based on factor-augmented vector autoregressions | 2018-02-16 12:08:34 | Manfred M. Fischer, Florian Huber, Michael Pfarrhofer, Petra Staufer-Steinnocher | http://arxiv.org/abs/1802.05870v1, http://arxiv.org/pdf/1802.05870v1 | econ.EM |
28,813 | em | We study the asymptotic properties of a class of estimators of the structural
parameters in dynamic discrete choice games. We consider K-stage policy
iteration (PI) estimators, where K denotes the number of policy iterations
employed in the estimation. This class nests several estimators proposed in the
literature such... | On the iterated estimation of dynamic discrete choice games | 2018-02-19 18:19:35 | Federico A. Bugni, Jackson Bunting | http://arxiv.org/abs/1802.06665v4, http://arxiv.org/pdf/1802.06665v4 | econ.EM |
28,814 | em | This paper proposes nonparametric kernel-smoothing estimation for panel data
to examine the degree of heterogeneity across cross-sectional units. We first
estimate the sample mean, autocovariances, and autocorrelations for each unit
and then apply kernel smoothing to compute their density functions. The
dependence of t... | Kernel Estimation for Panel Data with Heterogeneous Dynamics | 2018-02-24 12:45:50 | Ryo Okui, Takahide Yanagi | http://arxiv.org/abs/1802.08825v4, http://arxiv.org/pdf/1802.08825v4 | econ.EM |
28,815 | em | People reason heuristically in situations resembling inferential puzzles such
as Bertrand's box paradox and the Monty Hall problem. The practical
significance of that fact for economic decision making is uncertain because a
departure from sound reasoning may, but does not necessarily, result in a
"cognitively biased" o... | Identifying the occurrence or non occurrence of cognitive bias in situations resembling the Monty Hall problem | 2018-02-25 03:28:11 | Fatemeh Borhani, Edward J. Green | http://arxiv.org/abs/1802.08935v1, http://arxiv.org/pdf/1802.08935v1 | econ.EM |
28,816 | em | I analyse the solution method for the variational optimisation problem in the
rational inattention framework proposed by Christopher A. Sims. The solution,
in general, does not exist, although it may exist in exceptional cases. I show
that the solution does not exist for the quadratic and the logarithmic
objective func... | On the solution of the variational optimisation in the rational inattention framework | 2018-02-27 16:21:46 | Nigar Hashimzade | http://arxiv.org/abs/1802.09869v2, http://arxiv.org/pdf/1802.09869v2 | econ.EM |
28,830 | em | This paper proposes a model-free approach to analyze panel data with
heterogeneous dynamic structures across observational units. We first compute
the sample mean, autocovariances, and autocorrelations for each unit, and then
estimate the parameters of interest based on their empirical distributions. We
then investigat... | Panel Data Analysis with Heterogeneous Dynamics | 2018-03-26 10:53:47 | Ryo Okui, Takahide Yanagi | http://arxiv.org/abs/1803.09452v2, http://arxiv.org/pdf/1803.09452v2 | econ.EM |
28,817 | em | Many macroeconomic policy questions may be assessed in a case study
framework, where the time series of a treated unit is compared to a
counterfactual constructed from a large pool of control units. I provide a
general framework for this setting, tailored to predict the counterfactual by
minimizing a tradeoff between u... | Synthetic Control Methods and Big Data | 2018-03-01 00:32:09 | Daniel Kinn | http://arxiv.org/abs/1803.00096v1, http://arxiv.org/pdf/1803.00096v1 | econ.EM |
28,818 | em | It is widely known that geographically weighted regression(GWR) is
essentially same as varying-coefficient model. In the former research about
varying-coefficient model, scholars tend to use multidimensional-kernel-based
locally weighted estimation(MLWE) so that information of both distance and
direction is considered.... | An Note on Why Geographically Weighted Regression Overcomes Multidimensional-Kernel-Based Varying-Coefficient Model | 2018-03-04 21:50:17 | Zihao Yuan | http://arxiv.org/abs/1803.01402v2, http://arxiv.org/pdf/1803.01402v2 | econ.EM |
28,819 | em | We study three pricing mechanisms' performance and their effects on the
participants in the data industry from the data supply chain perspective. A
win-win pricing strategy for the players in the data supply chain is proposed.
We obtain analytical solutions in each pricing mechanism, including the
decentralized and cen... | Pricing Mechanism in Information Goods | 2018-03-05 10:37:06 | Xinming Li, Huaqing Wang | http://arxiv.org/abs/1803.01530v1, http://arxiv.org/pdf/1803.01530v1 | econ.EM |
28,820 | em | Spatial association and heterogeneity are two critical areas in the research
about spatial analysis, geography, statistics and so on. Though large amounts
of outstanding methods has been proposed and studied, there are few of them
tend to study spatial association under heterogeneous environment.
Additionally, most of ... | A Nonparametric Approach to Measure the Heterogeneous Spatial Association: Under Spatial Temporal Data | 2018-03-06 21:46:49 | Zihao Yuan | http://arxiv.org/abs/1803.02334v2, http://arxiv.org/pdf/1803.02334v2 | econ.EM |
28,821 | em | The last technical barriers to trade(TBT) between countries are Non-Tariff
Barriers(NTBs), meaning all trade barriers are possible other than Tariff
Barriers. And the most typical examples are (TBT), which refer to measure
Technical Regulation, Standards, Procedure for Conformity Assessment, Test &
Certification etc. T... | A study of strategy to the remove and ease TBT for increasing export in GCC6 countries | 2018-03-09 09:39:31 | YongJae Kim | http://arxiv.org/abs/1803.03394v3, http://arxiv.org/pdf/1803.03394v3 | econ.EM |
28,822 | em | Understanding the effectiveness of alternative approaches to water
conservation is crucially important for ensuring the security and reliability
of water services for urban residents. We analyze data from one of the
longest-running "cash for grass" policies - the Southern Nevada Water
Authority's Water Smart Landscapes... | How Smart Are `Water Smart Landscapes'? | 2018-03-13 05:00:07 | Christa Brelsford, Joshua K. Abbott | http://arxiv.org/abs/1803.04593v1, http://arxiv.org/pdf/1803.04593v1 | econ.EM |
28,823 | em | The business cycles are generated by the oscillating macro-/micro-/nano-
economic output variables in the economy of the scale and the scope in the
amplitude/frequency/phase/time domains in the economics. The accurate forward
looking assumptions on the business cycles oscillation dynamics can optimize
the financial cap... | Business Cycles in Economics | 2018-03-16 11:24:05 | Viktor O. Ledenyov, Dimitri O. Ledenyov | http://dx.doi.org/10.2139/ssrn.3134655, http://arxiv.org/abs/1803.06108v1, http://arxiv.org/pdf/1803.06108v1 | econ.EM |
28,824 | em | Unobserved heterogeneous treatment effects have been emphasized in the recent
policy evaluation literature (see e.g., Heckman and Vytlacil, 2005). This paper
proposes a nonparametric test for unobserved heterogeneous treatment effects in
a treatment effect model with a binary treatment assignment, allowing for
individu... | Testing for Unobserved Heterogeneous Treatment Effects with Observational Data | 2018-03-20 19:30:07 | Yu-Chin Hsu, Ta-Cheng Huang, Haiqing Xu | http://arxiv.org/abs/1803.07514v2, http://arxiv.org/pdf/1803.07514v2 | econ.EM |
28,825 | em | In the regression discontinuity design (RDD), it is common practice to assess
the credibility of the design by testing the continuity of the density of the
running variable at the cut-off, e.g., McCrary (2008). In this paper we propose
an approximate sign test for continuity of a density at a point based on the
so-call... | Testing Continuity of a Density via g-order statistics in the Regression Discontinuity Design | 2018-03-21 17:52:59 | Federico A. Bugni, Ivan A. Canay | http://arxiv.org/abs/1803.07951v6, http://arxiv.org/pdf/1803.07951v6 | econ.EM |
28,826 | em | In this paper, we propose the use of causal inference techniques for survival
function estimation and prediction for subgroups of the data, upto individual
units. Tree ensemble methods, specifically random forests were modified for
this purpose. A real world healthcare dataset was used with about 1800 patients
with bre... | Causal Inference for Survival Analysis | 2018-03-22 06:22:19 | Vikas Ramachandra | http://arxiv.org/abs/1803.08218v1, http://arxiv.org/pdf/1803.08218v1 | econ.EM |
28,827 | em | Linear regressions with period and group fixed effects are widely used to
estimate treatment effects. We show that they estimate weighted sums of the
average treatment effects (ATE) in each group and period, with weights that may
be negative. Due to the negative weights, the linear regression coefficient may
for instan... | Two-way fixed effects estimators with heterogeneous treatment effects | 2018-03-22 01:56:07 | Clément de Chaisemartin, Xavier D'Haultfœuille | http://dx.doi.org/10.1257/aer.20181169, http://arxiv.org/abs/1803.08807v7, http://arxiv.org/pdf/1803.08807v7 | econ.EM |
28,828 | em | We examine the effects of monetary policy on income inequality in Japan using
a novel econometric approach that jointly estimates the Gini coefficient based
on micro-level grouped data of households and the dynamics of macroeconomic
quantities. Our results indicate different effects on income inequality for
different t... | How does monetary policy affect income inequality in Japan? Evidence from grouped data | 2018-03-23 19:28:23 | Martin Feldkircher, Kazuhiko Kakamu | http://dx.doi.org/10.1007/s00181-021-02102-7, http://arxiv.org/abs/1803.08868v2, http://arxiv.org/pdf/1803.08868v2 | econ.EM |
28,829 | em | We develop inference for a two-sided matching model where the characteristics
of agents on one side of the market are endogenous due to pre-matching
investments. The model can be used to measure the impact of frictions in labour
markets using a single cross-section of matched employer-employee data. The
observed matchi... | Schooling Choice, Labour Market Matching, and Wages | 2018-03-24 03:41:09 | Jacob Schwartz | http://arxiv.org/abs/1803.09020v6, http://arxiv.org/pdf/1803.09020v6 | econ.EM |
28,831 | em | In this paper, we assess the impact of climate shocks on futures markets for
agricultural commodities and a set of macroeconomic quantities for multiple
high-income economies. To capture relations among countries, markets, and
climate shocks, this paper proposes parsimonious methods to estimate
high-dimensional panel V... | A Bayesian panel VAR model to analyze the impact of climate change on high-income economies | 2018-04-04 21:23:10 | Florian Huber, Tamás Krisztin, Michael Pfarrhofer | http://arxiv.org/abs/1804.01554v3, http://arxiv.org/pdf/1804.01554v3 | econ.EM |
28,832 | em | This paper provides a new methodology to analyze unobserved heterogeneity
when observed characteristics are modeled nonlinearly. The proposed model
builds on varying random coefficients (VRC) that are determined by nonlinear
functions of observed regressors and additively separable unobservables. This
paper proposes a ... | Varying Random Coefficient Models | 2018-04-09 20:16:52 | Christoph Breunig | http://arxiv.org/abs/1804.03110v4, http://arxiv.org/pdf/1804.03110v4 | econ.EM |
28,833 | em | We develop point-identification for the local average treatment effect when
the binary treatment contains a measurement error. The standard instrumental
variable estimator is inconsistent for the parameter since the measurement
error is non-classical by construction. We correct the problem by identifying
the distributi... | Inference on Local Average Treatment Effects for Misclassified Treatment | 2018-04-10 08:57:30 | Takahide Yanagi | http://arxiv.org/abs/1804.03349v1, http://arxiv.org/pdf/1804.03349v1 | econ.EM |
28,834 | em | This paper re-examines the Shapley value methods for attribution analysis in
the area of online advertising. As a credit allocation solution in cooperative
game theory, Shapley value method directly quantifies the contribution of
online advertising inputs to the advertising key performance indicator (KPI)
across multip... | Shapley Value Methods for Attribution Modeling in Online Advertising | 2018-04-15 12:19:25 | Kaifeng Zhao, Seyed Hanif Mahboobi, Saeed R. Bagheri | http://arxiv.org/abs/1804.05327v1, http://arxiv.org/pdf/1804.05327v1 | econ.EM |
28,835 | em | To estimate the dynamic effects of an absorbing treatment, researchers often
use two-way fixed effects regressions that include leads and lags of the
treatment. We show that in settings with variation in treatment timing across
units, the coefficient on a given lead or lag can be contaminated by effects
from other peri... | Estimating Dynamic Treatment Effects in Event Studies with Heterogeneous Treatment Effects | 2018-04-16 19:54:46 | Liyang Sun, Sarah Abraham | http://arxiv.org/abs/1804.05785v2, http://arxiv.org/pdf/1804.05785v2 | econ.EM |
28,836 | em | This paper offers a two-pronged critique of the empirical investigation of
the income distribution performed by physicists over the past decade. Their
finding rely on the graphical analysis of the observed distribution of
normalized incomes. Two central observations lead to the conclusion that the
majority of incomes a... | Revisiting the thermal and superthermal two-class distribution of incomes: A critical perspective | 2018-04-17 19:09:59 | Markus P. A. Schneider | http://dx.doi.org/10.1140/epjb/e2014-50501-x, http://arxiv.org/abs/1804.06341v1, http://arxiv.org/pdf/1804.06341v1 | econ.EM |
28,837 | em | Researchers increasingly leverage movement across multiple treatments to
estimate causal effects. While these "mover regressions" are often motivated by
a linear constant-effects model, it is not clear what they capture under weaker
quasi-experimental assumptions. I show that binary treatment mover regressions
recover ... | Estimating Treatment Effects in Mover Designs | 2018-04-18 16:42:55 | Peter Hull | http://arxiv.org/abs/1804.06721v1, http://arxiv.org/pdf/1804.06721v1 | econ.EM |
28,838 | em | The study aims to identify the institutional flaws of the current EU waste
management model by analysing the economic model of extended producer
responsibility and collective waste management systems and to create a model
for measuring the transaction costs borne by waste recovery organizations. The
model was approbate... | Transaction Costs in Collective Waste Recovery Systems in the EU | 2018-04-18 18:40:15 | Shteryo Nozharov | http://arxiv.org/abs/1804.06792v1, http://arxiv.org/pdf/1804.06792v1 | econ.EM |
28,839 | em | We study the foundations of empirical equilibrium, a refinement of Nash
equilibrium that is based on a non-parametric characterization of empirical
distributions of behavior in games (Velez and Brown,2020b arXiv:1907.12408).
The refinement can be alternatively defined as those Nash equilibria that do
not refute the reg... | Empirical Equilibrium | 2018-04-21 18:38:24 | Rodrigo A. Velez, Alexander L. Brown | http://arxiv.org/abs/1804.07986v3, http://arxiv.org/pdf/1804.07986v3 | econ.EM |
28,840 | em | We analyze an operational policy for a multinational manufacturer to hedge
against exchange rate uncertainties and competition. We consider a single
product and single period. Because of long-lead times, the capacity investment
must done before the selling season begins when the exchange rate between the
two countries ... | Price Competition with Geometric Brownian motion in Exchange Rate Uncertainty | 2018-04-22 21:33:53 | Murat Erkoc, Huaqing Wang, Anas Ahmed | http://arxiv.org/abs/1804.08153v1, http://arxiv.org/pdf/1804.08153v1 | econ.EM |
28,841 | em | Call centers' managers are interested in obtaining accurate point and
distributional forecasts of call arrivals in order to achieve an optimal
balance between service quality and operating costs. We present a strategy for
selecting forecast models of call arrivals which is based on three pillars: (i)
flexibility of the... | Statistical and Economic Evaluation of Time Series Models for Forecasting Arrivals at Call Centers | 2018-04-23 12:57:42 | Andrea Bastianin, Marzio Galeotti, Matteo Manera | http://dx.doi.org/10.1007/s00181-018-1475-y, http://arxiv.org/abs/1804.08315v1, http://arxiv.org/pdf/1804.08315v1 | econ.EM |
28,842 | em | Economic inequality is one of the pivotal issues for most of economic and
social policy makers across the world to insure the sustainable economic growth
and justice. In the mainstream school of economics, namely neoclassical
theories, economic issues are dealt with in a mechanistic manner. Such a
mainstream framework ... | Economic inequality and Islamic Charity: An exploratory agent-based modeling approach | 2018-04-25 01:43:11 | Hossein Sabzian, Alireza Aliahmadi, Adel Azar, Madjid Mirzaee | http://arxiv.org/abs/1804.09284v1, http://arxiv.org/pdf/1804.09284v1 | econ.EM |
28,843 | em | This paper is concerned with inference about low-dimensional components of a
high-dimensional parameter vector $\beta^0$ which is identified through
instrumental variables. We allow for eigenvalues of the expected outer product
of included and excluded covariates, denoted by $M$, to shrink to zero as the
sample size in... | Ill-posed Estimation in High-Dimensional Models with Instrumental Variables | 2018-06-02 19:41:24 | Christoph Breunig, Enno Mammen, Anna Simoni | http://arxiv.org/abs/1806.00666v2, http://arxiv.org/pdf/1806.00666v2 | econ.EM |
28,863 | em | By recasting indirect inference estimation as a prediction rather than a
minimization and by using regularized regressions, we can bypass the three
major problems of estimation: selecting the summary statistics, defining the
distance function and minimizing it numerically. By substituting regression
with classification... | Indirect inference through prediction | 2018-07-04 16:52:24 | Ernesto Carrella, Richard M. Bailey, Jens Koed Madsen | http://dx.doi.org/10.18564/jasss.4150, http://arxiv.org/abs/1807.01579v1, http://arxiv.org/pdf/1807.01579v1 | econ.EM |
28,844 | em | I propose a nonparametric iid bootstrap procedure for the empirical
likelihood, the exponential tilting, and the exponentially tilted empirical
likelihood estimators that achieves asymptotic refinements for t tests and
confidence intervals, and Wald tests and confidence regions based on such
estimators. Furthermore, th... | Asymptotic Refinements of a Misspecification-Robust Bootstrap for Generalized Empirical Likelihood Estimators | 2018-06-04 07:54:48 | Seojeong Lee | http://dx.doi.org/10.1016/j.jeconom.2015.11.003, http://arxiv.org/abs/1806.00953v2, http://arxiv.org/pdf/1806.00953v2 | econ.EM |
28,845 | em | Many studies use shift-share (or ``Bartik'') instruments, which average a set
of shocks with exposure share weights. We provide a new econometric framework
for shift-share instrumental variable (SSIV) regressions in which
identification follows from the quasi-random assignment of shocks, while
exposure shares are allow... | Quasi-Experimental Shift-Share Research Designs | 2018-06-04 20:03:07 | Kirill Borusyak, Peter Hull, Xavier Jaravel | http://arxiv.org/abs/1806.01221v9, http://arxiv.org/pdf/1806.01221v9 | econ.EM |
28,846 | em | The implementation of a supervision and incentive process for identical
workers may lead to wage variance that stems from employer and employee
optimization. The harder it is to assess the nature of the labor output, the
more important such a process becomes, and the influence of such a process on
wage development grow... | The Impact of Supervision and Incentive Process in Explaining Wage Profile and Variance | 2018-06-04 22:05:37 | Nitsa Kasir, Idit Sohlberg | http://arxiv.org/abs/1806.01332v1, http://arxiv.org/pdf/1806.01332v1 | econ.EM |
28,847 | em | I propose a nonparametric iid bootstrap that achieves asymptotic refinements
for t tests and confidence intervals based on GMM estimators even when the
model is misspecified. In addition, my bootstrap does not require recentering
the moment function, which has been considered as critical for GMM. Regardless
of model mi... | Asymptotic Refinements of a Misspecification-Robust Bootstrap for Generalized Method of Moments Estimators | 2018-06-05 04:13:06 | Seojeong Lee | http://dx.doi.org/10.1016/j.jeconom.2013.05.008, http://arxiv.org/abs/1806.01450v1, http://arxiv.org/pdf/1806.01450v1 | econ.EM |
28,848 | em | Under treatment effect heterogeneity, an instrument identifies the
instrument-specific local average treatment effect (LATE). With multiple
instruments, two-stage least squares (2SLS) estimand is a weighted average of
different LATEs. What is often overlooked in the literature is that the
postulated moment condition ev... | A Consistent Variance Estimator for 2SLS When Instruments Identify Different LATEs | 2018-06-05 04:36:49 | Seojeong Lee | http://dx.doi.org/10.1080/07350015.2016.1186555, http://arxiv.org/abs/1806.01457v1, http://arxiv.org/pdf/1806.01457v1 | econ.EM |
28,849 | em | We propose leave-out estimators of quadratic forms designed for the study of
linear models with unrestricted heteroscedasticity. Applications include
analysis of variance and tests of linear restrictions in models with many
regressors. An approximation algorithm is provided that enables accurate
computation of the esti... | Leave-out estimation of variance components | 2018-06-05 07:59:27 | Patrick Kline, Raffaele Saggio, Mikkel Sølvsten | http://arxiv.org/abs/1806.01494v2, http://arxiv.org/pdf/1806.01494v2 | econ.EM |
28,850 | em | Autonomous ships (AS) used for cargo transport have gained a considerable
amount of attention in recent years. They promise benefits such as reduced crew
costs, increased safety and increased flexibility. This paper explores the
effects of a faster increase in technological performance in maritime shipping
achieved by ... | A Quantitative Analysis of Possible Futures of Autonomous Transport | 2018-06-05 17:00:58 | Christopher L. Benson, Pranav D Sumanth, Alina P Colling | http://arxiv.org/abs/1806.01696v1, http://arxiv.org/pdf/1806.01696v1 | econ.EM |
28,851 | em | A standard growth model is modified in a straightforward way to incorporate
what Keynes (1936) suggests in the "essence" of his general theory. The
theoretical essence is the idea that exogenous changes in investment cause
changes in employment and unemployment. We implement this idea by assuming the
path for capital g... | A Growth Model with Unemployment | 2018-06-11 23:29:04 | Mina Mahmoudi, Mark Pingle | http://arxiv.org/abs/1806.04228v1, http://arxiv.org/pdf/1806.04228v1 | econ.EM |
28,852 | em | This study provides the theoretical framework and empirical model for
productivity growth evaluations in agricultural sector as one of the most
important sectors in Iran's economic development plan. We use the Solow
residual model to measure the productivity growth share in the value-added
growth of the agricultural se... | The Role of Agricultural Sector Productivity in Economic Growth: The Case of Iran's Economic Development Plan | 2018-06-11 23:43:32 | Morteza Tahamipour, Mina Mahmoudi | http://arxiv.org/abs/1806.04235v1, http://arxiv.org/pdf/1806.04235v1 | econ.EM |
28,853 | em | Tariff liberalization and its impact on tax revenue is an important
consideration for developing countries, because they are increasingly facing
the difficult task of implementing and harmonizing regional and international
trade commitments. The tariff reform and its costs for Iranian government is
one of the issues th... | Estimating Trade-Related Adjustment Costs in the Agricultural Sector in Iran | 2018-06-11 23:44:02 | Omid Karami, Mina Mahmoudi | http://arxiv.org/abs/1806.04238v1, http://arxiv.org/pdf/1806.04238v1 | econ.EM |
28,854 | em | We consider the relation between Sion's minimax theorem for a continuous
function and a Nash equilibrium in an asymmetric multi-players zero-sum game in
which only one player is different from other players, and the game is
symmetric for the other players. Then,
1. The existence of a Nash equilibrium, which is symmet... | On the relation between Sion's minimax theorem and existence of Nash equilibrium in asymmetric multi-players zero-sum game with only one alien | 2018-06-17 04:11:55 | Atsuhiro Satoh, Yasuhito Tanaka | http://arxiv.org/abs/1806.07253v1, http://arxiv.org/pdf/1806.07253v1 | econ.EM |
28,855 | em | It is common practice in empirical work to employ cluster-robust standard
errors when using the linear regression model to estimate some
structural/causal effect of interest. Researchers also often include a large
set of regressors in their model specification in order to control for observed
and unobserved confounders... | Cluster-Robust Standard Errors for Linear Regression Models with Many Controls | 2018-06-19 18:48:50 | Riccardo D'Adamo | http://arxiv.org/abs/1806.07314v3, http://arxiv.org/pdf/1806.07314v3 | econ.EM |
28,856 | em | We study inference in shift-share regression designs, such as when a regional
outcome is regressed on a weighted average of sectoral shocks, using regional
sector shares as weights. We conduct a placebo exercise in which we estimate
the effect of a shift-share regressor constructed with randomly generated
sectoral shoc... | Shift-Share Designs: Theory and Inference | 2018-06-20 21:57:10 | Rodrigo Adão, Michal Kolesár, Eduardo Morales | http://dx.doi.org/10.1093/qje/qjz025, http://arxiv.org/abs/1806.07928v5, http://arxiv.org/pdf/1806.07928v5 | econ.EM |
28,857 | em | In this paper, we explore the relationship between state-level household
income inequality and macroeconomic uncertainty in the United States. Using a
novel large-scale macroeconometric model, we shed light on regional disparities
of inequality responses to a national uncertainty shock. The results suggest
that income ... | The transmission of uncertainty shocks on income inequality: State-level evidence from the United States | 2018-06-21 17:57:45 | Manfred M. Fischer, Florian Huber, Michael Pfarrhofer | http://arxiv.org/abs/1806.08278v1, http://arxiv.org/pdf/1806.08278v1 | econ.EM |
28,858 | em | We propose a new class of unit root tests that exploits invariance properties
in the Locally Asymptotically Brownian Functional limit experiment associated
to the unit root model. The invariance structures naturally suggest tests that
are based on the ranks of the increments of the observations, their average,
and an a... | Semiparametrically Point-Optimal Hybrid Rank Tests for Unit Roots | 2018-06-25 10:03:48 | Bo Zhou, Ramon van den Akker, Bas J. M. Werker | http://dx.doi.org/10.1214/18-AOS1758, http://arxiv.org/abs/1806.09304v1, http://arxiv.org/pdf/1806.09304v1 | econ.EM |
28,859 | em | In this article we introduce a general nonparametric point-identification
result for nonseparable triangular models with a multivariate first- and second
stage. Based on this we prove point-identification of Hedonic models with
multivariate heterogeneity and endogenous observable characteristics, extending
and compleme... | Point-identification in multivariate nonseparable triangular models | 2018-06-25 22:36:39 | Florian Gunsilius | http://arxiv.org/abs/1806.09680v1, http://arxiv.org/pdf/1806.09680v1 | econ.EM |
28,860 | em | Historical examination of the Bretton Woods system allows comparisons to be
made with the current evolution of the EMS. | The Bretton Woods Experience and ERM | 2018-07-02 03:00:20 | Chris Kirrane | http://arxiv.org/abs/1807.00418v1, http://arxiv.org/pdf/1807.00418v1 | econ.EM |
28,861 | em | This paper describes the opportunities and also the difficulties of EMU with
regard to international monetary cooperation. Even though the institutional and
intellectual assistance to the coordination of monetary policy in the EU will
probably be strengthened with the EMU, among the shortcomings of the Maastricht
Treat... | Maastricht and Monetary Cooperation | 2018-07-02 03:01:08 | Chris Kirrane | http://arxiv.org/abs/1807.00419v1, http://arxiv.org/pdf/1807.00419v1 | econ.EM |
28,862 | em | This paper proposes a hierarchical modeling approach to perform stochastic
model specification in Markov switching vector error correction models. We
assume that a common distribution gives rise to the regime-specific regression
coefficients. The mean as well as the variances of this distribution are
treated as fully s... | Stochastic model specification in Markov switching vector error correction models | 2018-07-02 11:36:11 | Niko Hauzenberger, Florian Huber, Michael Pfarrhofer, Thomas O. Zörner | http://arxiv.org/abs/1807.00529v2, http://arxiv.org/pdf/1807.00529v2 | econ.EM |
28,864 | em | This paper studies the identifying content of the instrument monotonicity
assumption of Imbens and Angrist (1994) on the distribution of potential
outcomes in a model with a binary outcome, a binary treatment and an exogenous
binary instrument. Specifically, I derive necessary and sufficient conditions
on the distribut... | On the Identifying Content of Instrument Monotonicity | 2018-07-04 19:25:35 | Vishal Kamat | http://arxiv.org/abs/1807.01661v2, http://arxiv.org/pdf/1807.01661v2 | econ.EM |
28,865 | em | This paper develops an inferential theory for state-varying factor models of
large dimensions. Unlike constant factor models, loadings are general functions
of some recurrent state process. We develop an estimator for the latent factors
and state-varying loadings under a large cross-section and time dimension. Our
esti... | State-Varying Factor Models of Large Dimensions | 2018-07-06 07:05:40 | Markus Pelger, Ruoxuan Xiong | http://arxiv.org/abs/1807.02248v4, http://arxiv.org/pdf/1807.02248v4 | econ.EM |
28,866 | em | The methods of new institutional economics for identifying the transaction
costs of trade litigations in Bulgaria are used in the current paper. For the
needs of the research, an indicative model, measuring this type of costs on
microeconomic level, is applied in the study. The main purpose of the model is
to forecast ... | Transaction costs and institutional change of trade litigations in Bulgaria | 2018-07-09 13:34:56 | Shteryo Nozharov, Petya Koralova-Nozharova | http://arxiv.org/abs/1807.03034v1, http://arxiv.org/pdf/1807.03034v1 | econ.EM |
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