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Schiantarelli, Fabio; Galeotti, Marzio; Maccini, Louis J. - Department of Economics, Boston College - 2002

-logarithmic form, and derive an estimable system of Euler equations for inventories and employment with implied cross …

Persistent link: https://www.econbiz.de/10004968811

Input and Output Inventories in General Equilibrium

Iacoviello, Matteo; Schiantarelli, Fabio; Schuh, Scott - Department of Economics, Boston College - 2007

We build and estimate a two-sector (goods and services) dynamic general equilibrium model with two types of inventories …: finished goods (output) inventories yield utility services while materials (input) inventories facilitate the production of … structural parameters associated with inventories, play a minor role in the reduction of the volatility of output. …

Persistent link: https://www.econbiz.de/10005102661

Identifying Structural Effects in NonseparableSystems Using Covariates

White, Halbert; Chalak, Karim - Boston College / Department of Economics - 2008

This paper demonstrates the extensive scope of an alternative to standardinstrumental variables methods, namely covariate-based methods, for identifying and es-timating effects of interest in general structural systems. As we show, commonly usedeconometric methods, specically parametric,...

Persistent link: https://www.econbiz.de/10009302533

Identifying Structural Effects in Nonseparable Systems Using Covariates

White, Halbert; Chalak, Karim - Department of Economics, Boston College - 2008

This paper demonstrates the extensive scope of an alternative to standard instrumental variables methods, namely covariate-based methods, for identifying and estimating effects of interest in general structural systems. As we show, commonly used econometric methods, specifically parametric,...

Persistent link: https://www.econbiz.de/10008518873

Estimation of Collective Household Models With Engel Curves

Lewbel, Arthur; Pendakur, Krishna - Department of Economics, Boston College - 2008

The structural consumer demand methods used to estimate the parameters of collective household models are typically either very restrictive and easy to implement or very general and difficult to estimate. In this paper, we provide a middle ground. We adapt the very general framework of Browning,...

Persistent link: https://www.econbiz.de/10005074041

Causality, Conditional Independence, and Graphical Separation in Settable Systems

Chalak, Karim; White, Halbert - Department of Economics, Boston College - 2008

We study the interrelations between (conditional) independence and causal relations in settable systems. We provide definitions in terms of functional dependence for direct, indirect, and total causality as well as for (indirect) causality via and exclusive of a set of variables. We then provide...

Persistent link: https://www.econbiz.de/10005074154

Calculating Compensation in Cases of Wrongful Death

Lewbel, Arthur - Department of Economics, Boston College - 2002

Death statutes in the United States list elements of loss for which a defendant must make compensatory payment. The element that economists as expert witnesses are called upon to calculate is net income, roughly defined as the decedent's income minus personal expenses. The existence of joint or...

Persistent link: https://www.econbiz.de/10005053279

Estimating Consumption Economies of Scale, Adult Equivalence Scales, and Household Bargaining Power

Lewbel, Arthur; Browning, Martin; Chiappori, Pierre-Andrée - Department of Economics, Boston College - 2004

How much income would a woman living alone require to attain the same standard of living that she would have if she were married? What percentage of a married couple's expenditures are controlled by the husband? How much money does a couple save on consumption goods by living together versus...

Persistent link: https://www.econbiz.de/10005027802

Regressor Dimension Reduction with Economic Constraints: The Example of Demand Systems with Many Goods

Hoderlein, Stefan; Lewbel, Arthur - Department of Economics, Boston College - 2007

Microeconomic theory often yields models with multiple nonlinear equations, nonseparable unobservables, nonlinear cross equation restrictions, and many potentially multicollinear covariates. We show how statistical dimension reduction techniques can be applied in models with these features. In...

Persistent link: https://www.econbiz.de/10005027818

An Extended Class of Instrumental Variables for the Estimation of Causal Effects

Chalak, Karim; White, Halbert - Department of Economics, Boston College - 2007

This paper examines the ways in which structural systems can yield observed variables, other than the cause or treatment of interest, that can play an instrumental role in identifying and estimating causal effects. We focus speciÖcally on the ways in which structures determine exclusion...

Persistent link: https://www.econbiz.de/10005027845