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Phillips, Peter C.B.; Sul, Donggyu - Cowles Foundation for Research in Economics, Yale University - 2005

Some extensions of neoclassical growth models are discussed that allow for cross section heterogeneity among economies and evolution in rates of technological progress over time. The models offer a spectrum of transitional behavior among economies that includes convergence to a common steady...

Persistent link: https://www.econbiz.de/10005593341

A Dynamic Analysis of Human Welfare in a Warming Planet

Llavador, Humberto; Roemer, John E.; Silvestre, Joaquim - Cowles Foundation for Research in Economics, Yale University - 2009

Climate science indicates that climate stabilization requires low GHG emissions. Is this consistent with nondecreasing human welfare? Our welfare index, called quality of life (QuoL), emphasizes education, knowledge, and the environment. We construct and calibrate a multigenerational model with...

Persistent link: https://www.econbiz.de/10005463990

Intergenerational Justice when Future Worlds Are Uncertain

Llavador, Humberto; Roemer, John E.; Silvestre, Joaquim - Cowles Foundation for Research in Economics, Yale University - 2009

Suppose that there exists a positive (exogenous) probability that at each date of a possibly infinite future, the human species will disappear. We postulate an Ethical Observer (EO) who must solve an intertemporal welfare maximization problem under this kind of uncertainty, with preferences that...

Persistent link: https://www.econbiz.de/10005196022

On the Choice of Test Statistic for Conditional Moment Inequalities

Armstrong, Timothy B. - Cowles Foundation for Research in Economics, Yale University - 2014

This paper derives asymptotic power functions for Cramer-von Mises (CvM) style tests for conditional moment inequality models in the set identified case. Combined with power results for Kolmogorov-Smirnov (KS) tests, these results can be used to choose the optimal test statistic, weighting...

Persistent link: https://www.econbiz.de/10011240392

Optimal Sup-norm Rates, Adaptivity and Inference in Nonparametric Instrumental Variables Estimation

Chen, Xiaohong; Christensen, Timothy - Cowles Foundation for Research in Economics, Yale University - 2013

nonparametrically using instrumental variables. First, we derive the minimax optimal sup-norm convergence rates for nonparametric … functionals in nonparametric demand estimation when prices, and possibly incomes, are endogenous. The second is to establish the … functionals of h_0. Both applications provide new and useful tools for empirical research on nonparametric models with endogeneity. …

Persistent link: https://www.econbiz.de/10011213862

Optimal Uniform Convergence Rates and Asymptotic Normality for Series Estimators under Weak Dependence and Weak Conditions

Chen, Xiaohong; Christensen, Timothy M. - Cowles Foundation for Research in Economics, Yale University - 2014

We show that spline and wavelet series regression estimators for weakly dependent regressors attain the optimal uniform (i.e., sup-norm) convergence rate (n/log n)^{-p/(2p+d)} of Stone (1982), where d is the number of regressors and p is the smoothness of the regression function. The optimal...

Persistent link: https://www.econbiz.de/10011198597

Identification in a Class of Nonparametric Simultaneous Equations Models

Berry, Steven T.; Haile, Philip A. - Cowles Foundation for Research in Economics, Yale University - 2011

We consider identification in a class of nonparametric simultaneous equations models introduced by Matzkin (2008 …

Persistent link: https://www.econbiz.de/10008865899

Hodges-Lehmann Optimality for Testing Moment

Canay, Ivan; Otsu, Taisuke - Cowles Foundation for Research in Economics, Yale University - 2011

This paper studies the Hodges and Lehmann (1956) optimality of tests in a general setup. The tests are compared by the exponential rates of growth to one of the power functions evaluated at a fixed alternative while keeping the asymptotic sizes bounded by some constant. We present two sets of...

Persistent link: https://www.econbiz.de/10008867993

Empirical Likelihood for Nonparametric Additive Models

Otsu, Taisuke - Cowles Foundation for Research in Economics, Yale University - 2011

Nonparametric additive modeling is a fundamental tool for statistical data analysis which allows flexible functional … forms for conditional mean or quantile functions but avoids the curse of dimensionality for fully nonparametric methods … in three types of nonparametric additive models: (i) additive mean regression with the identity link function, (ii …

Persistent link: https://www.econbiz.de/10008917778

Identification in a Class of Nonparametric Simultaneous Equations Models

Berry, Steven T.; Haile, Philip A. - Cowles Foundation for Research in Economics, Yale University - 2011

We consider identification in a class of nonseparable nonparametric simultaneous equations models introduced by Matzkin …

Persistent link: https://www.econbiz.de/10008918502