Similar Search Results

Robust Standard Errors in Transformed Likelihood Estimation of Dynamic Panel Data Models

Hayakawa, Kazuhiko; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2012

This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are crosssectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem that...

Persistent link: https://www.econbiz.de/10010552471

Bandwidth Selection and the Estimation of Treatment Effects with Unbalanced Data

Galdo, Jose; Smith, Jeffrey Andrew; Black, Dan - Institute for the Study of Labor (IZA) - 2007

This paper addresses the selection of smoothing parameters for estimating the average treatment effect on the treated using matching methods. Because precise estimation of the expected counterfactual is particularly important in regions containing the mass of the treated units, we define and...

Persistent link: https://www.econbiz.de/10005822100

Estimation of Heterogeneous Treatment Effects on Hazard Rates

Gaure, Simen; Røed, Knut; den Berg, Gerard J. van; … - Institute for the Study of Labor (IZA) - 2010

Consider a setting where a treatment that starts at some point during a spell (e.g. in unemployment) may impact on the hazard rate of the spell duration, and where the impact may be heterogeneous across subjects. We provide Monte Carlo evidence on the feasibility of estimating the distribution...

Persistent link: https://www.econbiz.de/10008611306

How Diverse Can Spatial Measures of Cultural Diversity Be? Results from Monte Carlo Simulations of an Agent-Based Model

Arribas-Bel, Daniel; Nijkamp, Peter; Poot, Jacques - Institute for the Study of Labor (IZA) - 2014

Cultural diversity is a complex and multi-faceted concept. Commonly used quantitative measures of the spatial distribution of culturally-defined groups – such as segregation, isolation or concentration indexes – are often only capable of identifying just one aspect of this distribution. The...

Persistent link: https://www.econbiz.de/10010786980

Volatility and Growth: Governments are Key

Jetter, Michael - Institute for the Study of Labor (IZA) - 2013

paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …

Persistent link: https://www.econbiz.de/10010959641

Two to Tangle: Financial Development, Political Instability and Economic Growth in Argentina (1896–2000)

Campos, Nauro F.; Karanasos, Menelaos G.; Tan, Bin - Institute for the Study of Labor (IZA) - 2008

.g., cabinet changes) has an indirect (through volatility) impact on growth; (iii) the effect of financial development is positive … and, surprisingly, not via volatility; (iv) the informal instability effects are much larger in the short- than in the …

Persistent link: https://www.econbiz.de/10005703824

Flexibility at the Margin and Labor Market Volatility in OECD Countries

Sala, Hector; Silva, José I.; Toledo, Manuel E. - Institute for the Study of Labor (IZA) - 2008

achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs … de labor market volatility. This increased volatility is partially reverted when limitations in the duration and number … explain the similar volatility observed in many regulated OECD labor markets with flexibility at the margin vis-à-vis the …

Persistent link: https://www.econbiz.de/10005822303

Uncertainty and the Politics of Employment Protection

Vindigni, Andrea - Institute for the Study of Labor (IZA) - 2008

This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...

Persistent link: https://www.econbiz.de/10005763652

Financial Markets, Banks' Cost of Funding, and Firms' Decisions: Lessons from Two Crises

Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - Institute for the Study of Labor (IZA) - 2013

We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...

Persistent link: https://www.econbiz.de/10010734428

From Riches to Rags, and Back? Institutional Change, Financial Development and Economic Growth in Argentina since the 1890s

Campos, Nauro F; Karanasos, Menelaos G.; Tan, Bin - Institute for the Study of Labor (IZA) - 2014

individual effects on economic growth and volatility using the power-ARCH framework with annual data since the 1890s. The results …

Persistent link: https://www.econbiz.de/10011095511