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estimation bandwidth shrinking even as the sample size increases. Second, estimates may be biased if the time-series properties …
Persistent link: https://www.econbiz.de/10012455080
. Finally, we apply these findings to the empirical estimation of regime-dependent fiscal multipliers and find multipliers less …
Persistent link: https://www.econbiz.de/10014372466
School systems regularly use student assessments for accountability purposes. But, as highlighted by our conceptual model, different configurations of assessment usage generate performance-conducive incentives of different strengths for different stakeholders in different school environments. We...
Persistent link: https://www.econbiz.de/10012452885
We consider nonparametric identification and estimation in a nonseparable model where a continuous regressor of … endogenous assignment variable (like previous earnings). We provide new results on identification and estimation for these …
Persistent link: https://www.econbiz.de/10012460096
In this paper, I present two different methods that can be used to obtain a concise set of descriptive results about the comovement of variables. The statistics are easy to interpret and capture important information about the dynamics in the system that would be lost if one focused only on the...
Persistent link: https://www.econbiz.de/10012473303
This paper studies the problems of estimation and inference in the linear trend model: yt=à+þt+ut, where ut follows an …
Persistent link: https://www.econbiz.de/10012474067
Estimates of the natural or full employment level of real GNP have usually been obtained by statistical detrending procedures which assume independence between trend and cycle. This paper presents an alternative approach which says that the natural level should be measured in the context of a...
Persistent link: https://www.econbiz.de/10012476815
In this paper we examine temporal properties of eleven natural resource real price series from 1870-1990 by employing a Lagrangian Multiplier unit root test that allows for two endogenously determined structural breaks with and without a quadratic trend. Contrary to previous research, we find...
Persistent link: https://www.econbiz.de/10012467192
This paper investigates the possibility, raised by Perron (1989, 1990a), that aggregate economic time series can be characterized as being stationary around broken trend lines. Unlike Perron, we treat the break date as unknown a priori. Asymptotic distributions are developed for recursive,...
Persistent link: https://www.econbiz.de/10012475507
Recent research has proposed the state space (88) framework for decomposition of GNP and other economic time series into trend and cycle components, using the Kalman filter. This paper reviews the empirical evidence and suggests that the resulting decomposition may be spurious, just as...
Persistent link: https://www.econbiz.de/10012476643