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language processing and generative statistical modeling to create a factor structure of unstructured data for downstream … relatively interpretable spanning clusters (i.e., textual factors) through topic modeling. Our data-driven approach captures …
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Endogeneity is a primary concern when evaluating causal effects using observational panel data. While unit-specific intercepts control for unobserved time-invariant confounders, dependence between (i) regressors (e.g., marketing mix strategy of interests) and the current error term (regressor...
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use all of the information in the model. The exact economic model that justifies widely used linear approximations has …
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Recently there has been a great deal of interest in studying monetary policy under model uncertainty. We point out that different assumptions about the uncertainty may result in drastically different robust' policy recommendations. Therefore, we develop new methods to analyze uncertainty about...
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