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Short-Time Work Subsidies in a Matching Model
Meier, Volker - 2019
demand and reduced working hours so as to stabilize workers’ income. In a matching framework such an arrangement increases …
Persistent link: https://www.econbiz.de/10012892292
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To react or not?: fiscal policy, volatility and welfare in the EU-3
Malley, Jim; Philippopoulos, Apostolis; Woitek, Ulrich - 2007
This paper develops a dynamic stochastic general equilibrium model to examine the quantitative macroeconomic implications of countercyclical fiscal policy for France, Germany and the UK. The model incorporates real wage rigidity which is the particular market failure justifying policy...
Persistent link: https://www.econbiz.de/10010264070
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How do electoral systems affect fiscal policy? Evidence from state and local governments, 1890 to 2005
Funk, Patricia; Gathmann, Christina - 2010
Using a new data set on Swiss state and local governments from 1890 to today, we analyze how the adoption of proportional representation affects fiscal policy. We show that proportional systems shift spending toward broad goods (e.g. education and welfare benefits) but decrease spending on...
Persistent link: https://www.econbiz.de/10010266087
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Nonparametric Identification of Production Function, Total Factor Productivity, and Markup from Revenue Data
Kasahara, Hiroyuki; Sugita, Yoichi - 2021
Commonly used methods of production function estimation assume that a firm’s output quantity can be observed as data, but typical datasets contain only revenue, not output quantity. We examine the nonparametric identification of production function from revenue data when a firm faces a general...
Persistent link: https://www.econbiz.de/10013315013
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Paying to Match : Decentralized Markets with Information Frictions
Agranov, Marina; Dianat, Ahrash; Samuelson, Larry; … - 2021
We experimentally study decentralized one-to-one matching markets with transfers. We vary the information available to …
Persistent link: https://www.econbiz.de/10013250740
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The Short and the Long of it : Stock-Flow Matching in the US Housing Market
Smith, Eric; Xie, Zoe; Fang, Lei - 2022
viability of stock-flow matching in generating the observed outcomes. The paper documents that the probability a house sells … housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can not only … the importance of stock-flow matching for understanding housing market dynamics …
Persistent link: https://www.econbiz.de/10014243085
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Dynamic Causal Forests, with an Application to Payroll Tax Incidence in Norway
Gavrilova, Evelina; Langørgen, Audun; Zoutman, Floris - 2023
This paper develops a machine-learning method that allows researchers to estimate heterogeneous treatment effects with panel data in a setting with many covariates. Our method, which we name the dynamic causal forest (DCF) method, extends the causal-forest method of Wager and Athey (2018) by...
Persistent link: https://www.econbiz.de/10014346998
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A Bias-Corrected CD Test for Error Cross-Sectional Dependence in Panel Data Models with Latent Factors
Pesaran, M. Hashem; Xie, Yimeng - 2021
In a recent paper Juodis and Reese (2021) (JR) show that the application of the CD test proposed by Pesaran (2004) to residuals from panels with latent factors results in over-rejection and propose a randomized test statistic to correct for over-rejection, and add a screening component to...
Persistent link: https://www.econbiz.de/10013215800
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A Panel Data Model with Generalized Higher-Order Networks Effects
Baltagi, Badi H.; Ding, Sophia; Egger, Peter H. - 2021
Many data situations require the consideration of network effects among the cross-sectional units of observation. In this paper, we present a generalized panel model which accounts for two features: (i) three types of network effects on the right-hand side of the model, namely through weighted...
Persistent link: https://www.econbiz.de/10013315048
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Panel Unit Root Tests in the Presence of a Multifactor Error Structure
Pesaran, M. Hashem; Smith, L. Vanessa; Yamagata, Takashi - 2021
This paper extends the cross sectionally augmented panel unit root test proposed by Pesaran (2007) to the case of a multifactor error structure. The basic idea is to exploit information regarding the unobserved factors that are shared by other time series in addition to the variable under...
Persistent link: https://www.econbiz.de/10013316613