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Valuing Incremental Highway Capacity in a Network
Klaiber, H. Allen - 2010
The importance of increments to an existing highway system depends upon their contributions to the accessibility provided by the existing network. Nearly 40 years ago, Mohring [1965] suggested this logic for planning optimal highway investment programs. He argued it could be implemented by...
Persistent link: https://www.econbiz.de/10012462664
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Evaluating Rubin's Causal Model for Measuring the Capitalization of Environmental Amenities
Klaiber, H. Allen - 2009
rely on housing price capitalization. It is a computational analog to Chetty's [2009] call for considering the measurement …
Persistent link: https://www.econbiz.de/10012463692
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Surprising Comparative Properties of Monetary Models : Results from a New Data Base
Taylor, John B. - 2009
In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new data base of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...
Persistent link: https://www.econbiz.de/10012463799
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How Frequent Are Small Price Changes?
Eichenbaum, Martin S. - 2012
due to measurement error. We conclude that the evidence on the prevalence of small price changes is much too weak to be …
Persistent link: https://www.econbiz.de/10012460703
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Using School Choice Lotteries to Test Measures of School Effectiveness
Deming, David J. - 2014
Value-added models (VAMs) are increasingly used to measure school effectiveness. Yet random variation in school attendance is necessary to test the validity of VAMs, and to guide the selection of models for measuring causal effects of schools. In this paper, I use random assignment from a public...
Persistent link: https://www.econbiz.de/10012458860
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Information, Measurement, And Prediction In Economics
Zarnowitz, Victor - 1979
This paper examines the flow of production and use of economic information and analyzes the effects of measurement … presumption that the measurement errors are random: Systematic errors are frequent and their sources and forms vary so much that … decade),measurement of short-term changes in the economy is particularly difficult and current signals are apt to be often …
Persistent link: https://www.econbiz.de/10012478831
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Investor Sentiment in the Stock Market
Baker, Malcolm - 2007
. The "top down" approach to behavioral finance focuses on the measurement of reduced form, aggregate sentiment and traces …
Persistent link: https://www.econbiz.de/10012465464
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A Multiple Indicators Model for Volatility Using Intra-Daily Data
Engle, Robert F. - 2003
Many ways exist to measure and model financial asset volatility. In principle, as the frequency of the data increases, the quality of forecasts should improve. Yet, there is no consensus about a true' or best' measure of volatility. In this paper we propose to jointly consider absolute daily...
Persistent link: https://www.econbiz.de/10012468577
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Measuring Predictability : Theory and Macroeconomic Applications
Diebold, Francis X. - 1997
We propose a measure of predictability based on the ratio of the expected loss of a short-run forecast to the expected loss of a long-run forecast. This predictability measure can be tailored to the forecast horizons of interest, and it allows for general loss functions, univariate or...
Persistent link: https://www.econbiz.de/10012472693
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Measuring Uncertainty about Long-Run Prediction
Mueller, Ulrich - 2013
Long-run forecasts of economic variables play an important role in policy, planning, and portfolio decisions. We consider long-horizon forecasts of average growth of a scalar variable, assuming that first differences are second-order stationary. The main contribution is the construction of...
Persistent link: https://www.econbiz.de/10012459791