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The local power of some unit root tests for panel data
Breitung, Jörg - 1999
(1993) and Im, Pesaran and Shin (1997) suggest bias adjusted t-statistics. Such corrections are necessary to account for the … affected by two different terms. The first term represents the asymptotic effect on the bias due the detrending method and the … do not require a bias correction. The results of a Monte Carlo experiment suggest that avoiding the bias can improve the …
Persistent link: https://www.econbiz.de/10009581103
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Measurement error, biases, and the validation of complex models
Carroll, Raymond J.; Galindo, Christian D. - 1997
There are three major points to this article: 1. Measurement error causes biases in regression fits. The line one would obtain if one could accurately measure exposure to environmental lead media will differ in important ways when one measures exposure with error. 2. The effects of measurement...
Persistent link: https://www.econbiz.de/10009631751
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A comparison of punishment rules in repeated public good games : an experimental study
Decker, Torsten; Stiehler, Andreas; Strobel, Martin - 2002
In this experimental study we analyse three collective and one individual punishment rule in a public good setting. We show that under all punishment rules cooperation is stronger and more sustainable than reported from settings without punishment. Moreover, we present evidence and explanations...
Persistent link: https://www.econbiz.de/10009627290
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Animal spirits, technology shocks and the business cycle
Weder, Mark - 1997
In this paper a two-sector growth model allowing indeterminacy to occur at relatively mild degrees of increasing returns is developed. It is shown that these economies of scale need only be present in one sector of the economy (investment). This feature of the model, therefore, builds on...
Persistent link: https://www.econbiz.de/10009659067
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Privately contributing to public goods over time : an experimental study
Güth, Werner; Levati, Maria Vittoria; Stiehler, Andreas - 2002
Similar to Levati and Neugebauer (2001), a clock is used by which participants can vary their individual contributions for voluntarily providing a public good. As time goes by, participants either in(de)crease their contribution gradually or keep it constant. Groups of two poorly and two richly...
Persistent link: https://www.econbiz.de/10009620765
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Sources of German unemployment : a structural vector error correction analysis
Brüggemann, Ralf - 2001
In this paper we analyze the sources of German unemployment within a structural vector error correction model (SVECM) framework. For this purpose, we propose a method to estimate an exactly identified Subset SVECM, which is a SVECM with short run parameter restrictions. A cointegration analysis...
Persistent link: https://www.econbiz.de/10009613616
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Nonparametric estimation and testing of interaction in additive models
Sperlich, Stefan; Tjostheim, Dag; Yang, Lijian - 1998
We consider an additive model with second order interaction terms. It is shown how the components of this model can be estimated using marginal integration, and the asymptotic distribution of the estimators is derived. Moreover, two test statistics for testing the presence of interactions are...
Persistent link: https://www.econbiz.de/10009574875
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On estimation of monotone and concave frontier functions
Gijbels, Irène; Mammen, Enno; Park, Byeong U.; Simar, … - 1998
derive the asymptotic distribution of the DEA estimator, which enables us to assess the asymptotic bias and hence to propose … an improved bias corrected estimator. This bias corrected estimator involves consistent estimation of the density … confidence intervals. The finite sample performance of the bias corrected estimator is investigated via a simulation study and …
Persistent link: https://www.econbiz.de/10009574880
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Quantile hedging
Föllmer, Hans; Leukert, Peter - 1998
In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...
Persistent link: https://www.econbiz.de/10009574876
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On model based seasonal adjustment procedures
Breitung, Jörg - 1998
In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...
Persistent link: https://www.econbiz.de/10009574877