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The Estimation of Linear Models with Future Rational Expectations by Efficient and Instrumental Variable Methods
Wickens, Michael R. - C.E.P.R. Discussion Papers - 1986
This paper considers the estimation of a number of commonly used single-equation linear models, all of which have … proposed in each case. The choice of estimation method is usually represented as a trade-off between efficiency on the one hand … of an efficient estimation method depends on whether or not the model has a unique solution and often this will not be …
Persistent link: https://www.econbiz.de/10005656310
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Tobacco and Alcohol: Complements or Substitutes? A Structural Model Approach
Göhlmann, Silja; Requate, Till; Schmidt, Christoph M; … - C.E.P.R. Discussion Papers - 2008
explanatory variables. This approach is applied to German survey data. Our estimation results suggest that a reduction in tobacco …
Persistent link: https://www.econbiz.de/10005656259
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Systemic Risk and Network Formation in the Interbank Market
Cohen-Cole, Ethan; Patacchini, Eleonora; Zenou, Yves - C.E.P.R. Discussion Papers - 2011
We propose a novel mechanism to facilitate understanding of systemic risk in financial markets. The literature on systemic risk has focused on two mechanisms, common shocks and domino-like sequential default. Our approach is a formal model that provides an intellectual combination of the two by...
Persistent link: https://www.econbiz.de/10009003370
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R&D and Strategic Industrial Location in International Oligopolies
Pires, Garcia; José, Armando - C.E.P.R. Discussion Papers - 2006
In a spatial economy where oligopolist firms compete in R&D, it is found that geography affects the innovative behaviour of firms. Notably, international differences in market size conduce to endogenous asymmetries between firms given that firms located in the country with more demand have...
Persistent link: https://www.econbiz.de/10005656193
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More Schooling, More Children: Compulsory Schooling Reforms and Fertility in Europe
Fort, Margherita; Schneeweis, Nicole; Winter-Ebmer, Rudolf - C.E.P.R. Discussion Papers - 2011
We study the relationship between education and fertility, exploiting compulsory schooling reforms in Europe as source of exogenous variation in education. Using data from 8 European countries, we assess the causal effect of education on the number of biological kids and the incidence of...
Persistent link: https://www.econbiz.de/10009324255
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Intrafamily Resource Allocations: A Dynamic Model of Birth Weight
del Bono, Emilia; Ermisch, John F; Francesconi, Marco - C.E.P.R. Discussion Papers - 2008
This paper estimates a model of dynamic intrahousehold investment behavior which incorporates family fixed effects and child endowment heterogeneity. This framework is applied to large American and British survey data on birth outcomes, with focus on the effects of antenatal parental smoking and...
Persistent link: https://www.econbiz.de/10005662165
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Cyclical Productivity in Europe and the United States, Evaluating the Evidence on Returns to Scale and Input Utilization
Inklaar, Robert - C.E.P.R. Discussion Papers - 2006
(France, Germany and the Netherlands). Industry-specific demand-side instruments are used to examine the prevalence of non …
Persistent link: https://www.econbiz.de/10005791211
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Urban Growth and Transportation
Duranton, Gilles; Turner, Matthew A - C.E.P.R. Discussion Papers - 2008
period. To estimate these effects we rely on an instrumental variables estimation which uses a 1947 plan of the interstate …
Persistent link: https://www.econbiz.de/10005792014
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The Endogeneity of the Optimum Currency Area Criteria
Frankel, Jeffrey A; Rose, Andrew K - C.E.P.R. Discussion Papers - 1996
A country’s suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity or trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other...
Persistent link: https://www.econbiz.de/10005792116
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Lower and Upper Bounds of Returns to Schooling: An Exercise in IV estimation with Different Instruments
Ichino, Andrea; Winter-Ebmer, Rudolf - C.E.P.R. Discussion Papers - 1998
Several recent studies based on 'exogenous' sources of variation in education outcomes show Instrumental Variables (IV) estimates of returns to schooling that are substantially higher than the corresponding Ordinary Least Squares (OLS) estimates. Card (1995a) suggests that these results can be...
Persistent link: https://www.econbiz.de/10005792345