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Estimation of Dynamic Models with Nonparametric Simulated Maximum Likelihood
Kristensen, Dennis; Shin, Yongseok - School of Economics and Management, University of Aarhus - 2008
We propose a simulated maximum likelihood estimator for dynamic models based on non-parametric kernel methods. Our method is designed for models without latent dynamics from which one can simulate observations but cannot obtain a closed-form representation of the likelihood function. Using the...
Persistent link: https://www.econbiz.de/10005114113
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Monotone Comparative Statics for the Industry Composition
Bache, Peter Arendorf; Laugesen, Anders - School of Economics and Management, University of Aarhus - 2013
We let heterogeneous firms face decisions on a number of complementary activities in a monopolistically-competitive industry. The endogenous level of competition and selection regarding entry and exit of firms introduces a wedge between monotone comparative statics (MCS) at the firm level and...
Persistent link: https://www.econbiz.de/10011158459
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Import-push or Export-pull? An Industry-level Analysis of the Impact of Trade on Firm Exit
Jäkel, Ina Charlotte - School of Economics and Management, University of Aarhus - 2013
profitability - rather than productivity - and derives novel predictions regarding the export market and the role of product …
Persistent link: https://www.econbiz.de/10010851172
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Counting Processes for Retail Default Modeling
Kiefer, Nicholas M.; Larson, C. Erik - School of Economics and Management, University of Aarhus - 2015
Counting processes provide a very flexible framework for modeling discrete events occurring over time. Estimation and interpretation is easy, and links to more familiar approaches are at hand. The key is to think of data as "event histories," a record of times of switching between states in a...
Persistent link: https://www.econbiz.de/10011268023
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The Impact of Education and Occupation on Temporary and Permanent Work Incapacity
Gupta, Nabanita Datta; Lau, Daniel; Pozzoli, Dario - School of Economics and Management, University of Aarhus - 2012
This paper investigates whether education and working in a physically demanding job causally impact temporary work incapacity, i.e. sickness absence, and permanent work incapacity, i.e. the inflow to disability via sickness absence. Our contribution is to allow endogeneity of both education and...
Persistent link: https://www.econbiz.de/10010851186
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Immigrant-Native Differences in Earnings Mobility Processes: Evidence from Canadian and Danish Data
Ahmad, Nisar; Esmaeilzadeh, Rayhaneh - School of Economics and Management, University of Aarhus - 2009
This study compares the earnings mobility between immigrants and natives within and between Denmark and Canada. Both countries have different labour market conditions and immigration history which leads to an interesting comparison of earning mobility processes. The paper employs a dynamic...
Persistent link: https://www.econbiz.de/10008500704
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Trade Liberalisation and Vertical Integration
Bache, Peter Arendorf; Laugesen, Anders - School of Economics and Management, University of Aarhus - 2013
productivity and factor intensity as observed in data. Final-good producers face decisions on exporting, vertical integration of …
Persistent link: https://www.econbiz.de/10010941150
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Second Thoughts on Exporter Productivity
Schröeder, Philipp J.H.; Sørensen, Allan - School of Economics and Management, University of Aarhus - 2009
Empirical literature has established a positive link between firm productivity and export status, yet notable … well as the exception. The fulcrum of the argument is the tension between empirical work measuring productivity based on … average cost information, and theoretical work representing productivity by marginal cost. In a heterogeneous firms trade …
Persistent link: https://www.econbiz.de/10005198788
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Additive versus multiplicative trade costs and the gains from trade
Sørensen, Allen - School of Economics and Management, University of Aarhus - 2012
This paper addresses welfare effects from trade liberalization in a heterogeneous-fi?rms trade model including the empirically important per-unit (i.e. additive) trade costs in addition to the conventional iceberg (i.e. multiplicative) and fi?xed trade costs. The novel contribution of the paper...
Persistent link: https://www.econbiz.de/10009649742
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A Dynamic Model of Trade with Heterogeneous Firms
Bache, Peter Arendorf - School of Economics and Management, University of Aarhus - 2012
This paper builds a dynamic general equilibrium trade model, in which heterogeneous intermediate goods are produced and traded in a Melitz (2003) type sector. These intermediate goods are used in the production of a final good, which can be used for consumption, capital accumulation, or...
Persistent link: https://www.econbiz.de/10009398266