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rents flow to women's sports and other men's sports and lead to increased spending on facilities, coaches' salaries, and … other athletic department personnel. Using complete roster data for every student-athlete playing sports at these schools in … collective bargaining agreements in professional sports leagues as a benchmark. We also discuss how our results help understand …
Persistent link: https://www.econbiz.de/10012481282
When a rate of return is regressed on a lagged stochastic regressor, such as a dividend yield, the regression … substantially from the standard regression setting. Bayesian posterior distributions for the regression parameters are obtained …
Persistent link: https://www.econbiz.de/10012471691
Despite the clear success of forecast combination in many economic environments, several important issues remain incompletely resolved. The issues relate to selection of the set of forecasts to combine, and whether some form of additional regularization (e.g., shrinkage) is desirable. Against...
Persistent link: https://www.econbiz.de/10012480620
Evidence of stock return predictability by financial ratios is still controversial, as documented by inconsistent results for in-sample and out-of-sample regressions and by substantial parameter instability. This paper shows that these seemingly incompatible results can be reconciled if the...
Persistent link: https://www.econbiz.de/10012466559
This paper analyzes the dynamics of prices in two online secondary markets for Major League Baseball tickets. Controlling for ticket quality, prices tend to decline significantly as a game approaches. The paper describes and tests alternative theoretical explanations for why this happens in...
Persistent link: https://www.econbiz.de/10012464142
higher bias for an alternative long-horizon predictive regression commonly advocated for in the literature. For large J, the …
Persistent link: https://www.econbiz.de/10012481605
. Local asymptotic power analysis shows that the power of the long-horizon predictive regression test dominates that of the … these problems, we suggest a moving block recursive Jackknife estimator of the predictive regression slope coefficient and …
Persistent link: https://www.econbiz.de/10012468032
spurious regression problem. We propose a new inference and testing procedure - the Local speCtruM (LCM) approach - for joint … fractional filtering and band-spectrum regression using a suitably selected set of frequency ordinates. Contrary to existing … procedures, we establish a uniform Gaussian limit theory and a standard χ2-distributed test statistic. Using LCM inference and …
Persistent link: https://www.econbiz.de/10012496122
This paper studies the properties of predictive regressions for asset returns in economic systems governed by persistent vector autoregressive dynamics. In particular, we allow for the state variables to be fractionally integrated, potentially of different orders, and for the returns to have a...
Persistent link: https://www.econbiz.de/10012496123
This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included...
Persistent link: https://www.econbiz.de/10012471000