Narrow search
Showing 1 - 9 of 9
Cover Image
The Fiscal Effect of Immigration : Reducing Bias in Influential Estimates
Clemens, Michael A. - 2021
Immigration policy can have important net fiscal effects that vary by immigrants’ skill level. But mainstream methods to estimate these effects are problematic. Methods based on cash-flow accounting offer precision at the cost of bias; methods based on general equilibrium modeling address bias...
Persistent link: https://www.econbiz.de/10013311709
Cover Image
The Effect of Low-Skill Immigration Restrictions on US Firms and Workers : Evidence from a Randomized Lottery
Clemens, Michael A.; Lewis, Ethan G. - 2022
The U.S. limits work visas for low-skill jobs outside of agriculture, with a binding quota that firms access via a randomized lottery. We evaluate the marginal impact of the quota on firms entering the 2021 H-2B visa lottery using a novel survey and pre-analysis plan. Firms exogenously...
Persistent link: https://www.econbiz.de/10014242159
Cover Image
What if the UK had joined the euro in 1999? : An empirical evaluation using a Global VAR
Pesaran, Mohammad Hashem; Smith, L. Vanessa; Smith, Ron P. - 2005
macroeconometric models. As an application we consider UK entry to the euro. Entry involves a long-term commitment to restrict UK … nominal exchange rates and interest rates to be the same as those of the euro area. We derive conditional probability … distributions for the difference between the future realisations of variables of interest (e.g UK and euro area output and prices …
Persistent link: https://www.econbiz.de/10010276168
Cover Image
Cointegration analysis with mixed-frequency data
Seong, Byeongchan; Ahn, Sung K.; Zadrozny, Peter A. - 2007
maximum likelihood estimation of the parameters in the model, we use an expectation maximization algorithm based on the state …
Persistent link: https://www.econbiz.de/10010264085
Cover Image
Exploring the international linkages of the euro area : a global VAR analysis
Dees, Stephane; di Mauro, Filippo; Pesaran, Mohammad Hashem - 2005
VAR is estimated for 26 countries, the euro area being treated as a single economy. This paper proposes two important … the monetary policy shocks, and consider the time profiles of their effects on the euro area. To this end we include the …
Persistent link: https://www.econbiz.de/10010276161
Cover Image
Firm heterogeneity and credit risk diversification
Hanson, Samuel; Pesaran, Mohammad Hashem; Schuermann, Til - 2005
This paper considers a simple model of credit risk and derives the limit distribution of losses under different assumptions regarding the structure of systematic and idiosyncratic risks and the nature of firm heterogeneity. The theoretical results obtained indicate that if firm-specific risk...
Persistent link: https://www.econbiz.de/10010276169
Cover Image
Learning, structural instability and present value calculations
Pesaran, Mohammad Hashem; Pettenuzzo, Davide; … - 2006
Present value calculations require predictions of cash flows both at near and distant future points in time. Such predictions are generally surrounded by considerable uncertainty and may critically depend on assumptions about parameter values as well as the form and stability of the data...
Persistent link: https://www.econbiz.de/10010276173
Cover Image
Variable selection and inference for multi-period forecasting problems
Pesaran, Mohammad Hashem; Pick, Andreas; Timmermann, Allan - 2009
direct forecasts when estimation error is a first-order concern, i.e. in small samples and for long forecast horizons …
Persistent link: https://www.econbiz.de/10010276226
Cover Image
Estimated US manufacturing production capital and technology based on an estimated dynamic economic model
Chen, Baoline; Zadrozny, Peter A. - 2005
estimation method, based on advances in economics, statistics, and applied mathematics, which involves estimating a structural …
Persistent link: https://www.econbiz.de/10010261321