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-country data to study the effect of product market regulation and reform on a country’s macroeconomic performance. After a review … of product market regulation on mark- ups, firm dynamics, investment, employment, innovation, productivity and output …
Persistent link: https://www.econbiz.de/10005102703
This paper develops a method for combining the power of a dynamic, stochastic, general equilibrium model with the flexibility of a vector autoregressive time-series model to obtain a hybrid that can be taken directly to the data. It estimates this hybrid model via maximum likelihood and uses the...
Persistent link: https://www.econbiz.de/10005027861
Why do some men father children outside of marriage but not provide support? Why are some single women willing to have children outside of marriage when they receive little or no support from unmarried fathers? Why is this behavior especially common among blacks? To shed light on these...
Persistent link: https://www.econbiz.de/10010892206
The existing literature on binary games with incomplete information assumes that either payoff functions or the distribution of private information are finitely parameterized to obtain point identification. In contrast, we show that, given excluded regressors, payoff functions and the...
Persistent link: https://www.econbiz.de/10011019856
the United States, is that the heavy regulation of the former reduces their growth. Using newly assembled data on … regulation in several sectors of many OECD countries, we provide substantial and robust evidence that various measures of … regulation in the product markets, concerning in particular entry barriers, are negatively related to investment. The policy …
Persistent link: https://www.econbiz.de/10005027809
service provision which captures the effect of regulation on provider behavior. High fixed costs explain the growth of large … clinics and estimates show regulation increased entry costs for small providers. A simulation removing all regulations …
Persistent link: https://www.econbiz.de/10010717559
stochastic R&D activities to evaluate market share regulation policy. On the one hand, market share regulation discourages the … share regulation. However, the social welfare including firms' profits would be hurt if both firms are equally good at R … share regulation can improve the social welfare. We relate our analysis to a case study of Asahi Brewery's introducing Asahi …
Persistent link: https://www.econbiz.de/10011019860
By 1989 the Michigan Panel Study on Income Dynamics (PSID) had experienced approximately 50 percent sample loss from cumulative attrition from its initial 1968 membership. We study the effect of this attrition on the unconditional distributions of several socioeconomic variables and on the...
Persistent link: https://www.econbiz.de/10004968793
This paper proposes a method for comparing and combining conditional quantile forecasts in an out-of-sample framework. We construct a Conditional Quantile Forecast Encompassing (CQFE) test as a Wald-type test of superior predictive ability. Rejection of CQFE provides a basis for combination of...
Persistent link: https://www.econbiz.de/10004968797
Ever since the development of the Autoregressive Conditional Heteroskedasticity (ARCH) model (Engle [1982]), testing for the presence of ARCH has become a routine diagnostic. One popular method of testing for ARCH is T times the R^2 from a regression of squared residuals on p of its lags. This...
Persistent link: https://www.econbiz.de/10004968826