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Robustness of bootstrap in instrumental variable regression

Camponovo, Lorenzo; Otsu, Taisuke - London School of Economics (LSE) - 2014

This paper studies robustness of bootstrap inference methods for instrumental variable (IV)regression models. We consider test statistics for parameter hypotheses based on the IV estimatorand generalized method of trimmed moments (GMTM) estimator introduced by Cížek (2008, 2009),and compare...

Persistent link: https://www.econbiz.de/10011126113

An alternative way of computing efficient instrumental variable estimators

Chen, Xiaohong; Linton, Oliver; Jacho-Chávez, David T. - London School of Economics (LSE) - 2009

A new way of constructing efficient semiparametric instrumental variable estimators is proposed. The method involves the combination of a large number of possibly inefficient estimators rather than combining the instruments into an optimal instrument function. The consistency and asymptotic...

Persistent link: https://www.econbiz.de/10011126216

First-come first-served: identifying the demand effect of immigration inflows on house prices

Sanchis-Guarner, Rosa - London School of Economics (LSE) - 2014

An inflow of immigrants into a region affects house prices in three ways. In the short run, housing demand increases … immigrant demand cannot be separated from the demand changes due to native relocation or that the impact of immigrants on native … mobility has no consequences on the estimates. In this paper I propose a methodology to pin down the immigrant demand effect. I …

Persistent link: https://www.econbiz.de/10011126580

Growth and the quality of foreign direct investment: is all FDI equal?

Alfaro, Laura; Charlton, Andrew - London School of Economics (LSE) - 2007

In this paper we distinguish different “qualities” of FDI to re-examine the relationship between FDI and growth. We use ‘quality’ to mean the effect of a unit of FDI on economic growth. However this is difficult to establish because it is a function of many different country and project...

Persistent link: https://www.econbiz.de/10011071122

Edgeworth approximations for semiparametric instrumental variable estimators and test statistics

Linton, Oliver - London School of Economics (LSE) - 2000

We establish the validity of higher order asymptotic expansions to the distribution of a version of the nonlinear semiparametric instrumental variable considered in Newey (1990) as well as to the distribution of a Wald statistic derived from it. We employ local polynomial smoothing with variable...

Persistent link: https://www.econbiz.de/10011071228

A researcher's guide to the Swedish compulsory school reform

Holmlund, Helena - London School of Economics (LSE) - 2008

When studying different types of returns to education, educational reforms are commonly used in the economics literature as a source of exogenous variation in education. The Swedish compulsory school reform is one example; the reform extended compulsory education throughout the country, in...

Persistent link: https://www.econbiz.de/10010745015

The long term impacts of compulsory schooling: evidence from a natural experiment in school leaving dates

Del Bono, Emilia; Galindo-Rueda, Fernando - London School of Economics (LSE) - 2007

This paper investigates a unique feature of the English educational system to estimate the causal effect of compulsory schooling on labour market outcomes. We examine school leaving rules that allow for discrete variation in exit dates by date of birth within school cohorts. This natural...

Persistent link: https://www.econbiz.de/10010746205

Instrumental variables for binary treatments with heterogeneous treatment effects: a simple exposition

Manning, Alan - London School of Economics (LSE) - 2004

This note provides a simple exposition of what IV can and cannot estimate in a model with a binary treatment variable and heterogeneous treatment effects. It shows how linear IV is a misspecification of functional form and the reason why linear IV estimates for this model will always depend on...

Persistent link: https://www.econbiz.de/10010746568

Search frictions, real rigidities and inflation dynamics

Thomas, Carlos - London School of Economics (LSE) - 2007

The standard New Keynesian model suffers from the so-called .macro-micro pricing conflict: in order to match the dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is much longer than what is observed in micro data. Here I...

Persistent link: https://www.econbiz.de/10010745233

Company start-up costs and employment

Pissarides, Christopher - London School of Economics (LSE) - 2002

I study the role of company start-up costs for employment performance. The model is search equilibrium with a new concept for firms. Agents have an innate managerial ability and make a career choice to become either managers or workers. Manage rs set up firms, post jobs and match with workers. I...

Persistent link: https://www.econbiz.de/10010745527