Showing 1 - 10 of 2,180
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
the advantage of being based on a denominator that is bounded away from zero. We use a simulation study and three …
Persistent link: https://www.econbiz.de/10013291319
differences. Arguably, this shortcoming is rooted in the lack of an appropriate MIMIC model which considers cointegration among … variables. This paper develops a MIMIC model which estimates the cointegration equilibrium relationship and the error correction …
Persistent link: https://www.econbiz.de/10013316608
This paper surveys the recent social science literature on religion in economic history, covering both socioeconomic causes and consequences of religion. Following the rapidly growing literature, it focuses on the three main monotheisms—Judaism, Christianity, and Islam—and on the period up...
Persistent link: https://www.econbiz.de/10012830986
Using data from the European Social Survey (ESS), we examine the link between income and subjective well-being. We find that, for the whole sample of nineteen European countries, although income is positively correlated with both happiness and life satisfaction, reference income exerts a...
Persistent link: https://www.econbiz.de/10013316734
derived from economic theory or institutional constraints. Sometimes the restrictions are insufficient for identifying all …
Persistent link: https://www.econbiz.de/10010261406
Using neural networks, the present study replicates previous results on the prediction of student dropout obtained with decision trees and logistic regressions. For this purpose, multilayer perceptrons are trained on the same data as in the initial study. It is shown that neural networks lead to...
Persistent link: https://www.econbiz.de/10013211739
We develop a regime switching vector autoregression where artificial neural networks drive time variation in the coefficients of the conditional mean of the endogenous variables and the variance covariance matrix of the disturbances. The model is equipped with a stability constraint to ensure...
Persistent link: https://www.econbiz.de/10013314694
In spatial econometrics literature estimation and inference are carried out assuming that the matrix of spatial or network connections has uniformly bounded absolute column sums in the number of units, n, in the network. This paper relaxes this restriction and allows for one or more units to...
Persistent link: https://www.econbiz.de/10012849715
sufficient condition for constructing the best response. Our methods do not require specific functional forms. Our theory has …
Persistent link: https://www.econbiz.de/10014345885