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With count-valued outcomes y in {0,1,...,M} identification and estimation of average treatment effects raise no special considerations beyond those involved in the continuous-outcome case. If partial identification of the distribution of treatment effects is of interest, however, count-valued...
Persistent link: https://www.econbiz.de/10014247925
This paper examines the econometric causal model and the interpretation of empirical evidence based on thought experiments that was developed by Ragnar Frisch and Trygve Haavelmo. We compare the econometric causal model with two currently popular causal frameworks: the Neyman-Rubin causal model...
Persistent link: https://www.econbiz.de/10014447266
We provide a general framework for incorporating many types of micro data from summary statistics to full surveys of selected consumers into Berry, Levinsohn, and Pakes (1995)-style estimates of differentiated products demand systems. We extend best practices for BLP estimation in Conlon and...
Persistent link: https://www.econbiz.de/10014337838
This paper considers causal inference and sample selection bias in non-experimental settings in which: (i) few units in … treated units and, hence, in alleviating the bias due to systematic differences between the treated and comparison units …
Persistent link: https://www.econbiz.de/10012471982
of the associated IV results. We discuss potential adjustments to IV estimates in the presence of this bias …
Persistent link: https://www.econbiz.de/10012457277
treatments are conditionally randomly assigned and the controls are sufficiently flexible to avoid omitted variables bias … treatments. Thus, recent concerns about heterogeneity-induced bias in regressions leveraging potential outcome restrictions (e … contamination bias and propose a new class of efficient estimators of weighted average effects that avoid bias. In a re-analysis of …
Persistent link: https://www.econbiz.de/10013334327
We derive general, yet simple, sharp bounds on the size of the omitted variable bias for a broad class of causal … how the bound on the bias depends only on the additional variation that the latent variables create both in the outcome … variables (in explaining treatment and outcome variation) are sufficient to place overall bounds on the size of the bias …
Persistent link: https://www.econbiz.de/10013334519
We propose a methodology to take dynamic stochastic general equilibrium (DSGE) models to the data based on the combination of differentiable state-space models and the Hamiltonian Monte Carlo (HMC) sampler. First, we introduce a method for implicit automatic differentiation of perturbation...
Persistent link: https://www.econbiz.de/10013435135
Health expenditure data almost always include extreme values. Such heavy tails can be a threat to the commonly adopted least squares methods. To accommodate extreme values, we propose the use of an estimation method that recovers the often ignored right tail of health expenditure distributions....
Persistent link: https://www.econbiz.de/10014322831
Econometric software packages typically report a fixed number of decimal digits for coefficient estimates and their associated standard errors. This practice misses the opportunity to use rounding rules that convey statistical precision. Using insights from the testing statistical hypotheses of...
Persistent link: https://www.econbiz.de/10014486216