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Identification and Estimation of Heterogeneous Agent Models: A Likelihood Approach
Parra-Alvarez, Juan Carlos; Posch, Olaf; Wang, Mu-Chun - 2017
In this paper, we study the statistical properties of heterogeneous agent models with incomplete markets. Using a Bewley-Hugget-Aiyagari model we compute the equilibrium density function of wealth and show how it can be used for likelihood inference. We investigate the identifiability of the...
Persistent link: https://www.econbiz.de/10011777582
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Does Scientific Progress Affect Culture? A Digital Text Analysis
Giorcelli, Michela; Lacetera, Nicola; Marinoni, Astrid - 2019
We study the interplay between scientific progress and culture through text analysis on a corpus of about eight million books, with the use of techniques and algorithms from machine learning. We focus on a specific scientific breakthrough, the theory of evolution through natural selection by...
Persistent link: https://www.econbiz.de/10012018190
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The dependence structure between carbon emission allowances and financial markets: A copula analysis
Gronwald, Marc; Ketterer, Janina; Trück, Stefan - 2011
This paper applies different copulas in order to investigate the complex dependence structure between EU emission allowance (EUA) futures returns and those of other commodities, equity and energy indices. The analysis yields important insights into the relationship between carbon, commodities...
Persistent link: https://www.econbiz.de/10010274834
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Imputing Monthly Values for Quarterly Time Series. An Application Performed with Swiss Business Cycle Data
Abberger, Klaus; Graff, Michael; Müller, Oliver; … - 2022
This paper documents a comparative application of algorithms to deal with the problem of missing values in higher frequency data sets. We refer to Swiss business tendency survey (BTS) data which are conducted in both monthly and quarterly frequency, where an information sub-set is collected at...
Persistent link: https://www.econbiz.de/10014290101
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A Large-Scale Field Experiment to Evaluate the Effectiveness of Paid Search Advertising
Coviello, Lorenzo; Gneezy, Uri; Götte, Lorenz - 2017
Companies spend billions of dollars online for paid links to branded search terms. Measuring the effectiveness of this marketing spending is hard. Blake, Nosko and Tadelis (2015) ran an experiment with eBay, showing that when the company suspended paid search, most of the traffic still ended up...
Persistent link: https://www.econbiz.de/10011744990
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Does Scientific Progress Affect Culture? A Digital Text Analysis
Giorcelli, Michela - 2019
We study the interplay between scientific progress and culture through text analysis on a corpus of about eight million books, with the use of techniques and algorithms from machine learning. We focus on a specific scientific breakthrough, the theory of evolution through natural selection by...
Persistent link: https://www.econbiz.de/10012892082
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Imputing Monthly Values for Quarterly Time Series. An Application Performed with Swiss Business Cycle Data
Abberger, Klaus; Graff, Michael; Müller, Oliver; … - 2023
This paper documents a comparative application of algorithms to deal with the problem of missing values in higher frequency data sets. We refer to Swiss business tendency survey (BTS) data which are conducted in both monthly and quarterly frequency, where an information sub-set is collected at...
Persistent link: https://www.econbiz.de/10014262560
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Optimization Over Graphs
Kwon, Suehyun - 2019
This paper defines isomorphism for network formation that is not mathematically isomorphic. Once the pattern of network formation is characterized, one can test for (i) location fixed effects, (ii) heterogeneity, (iii) private information allowing for long-term contracts. The paper provides...
Persistent link: https://www.econbiz.de/10012892085
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Small Group Instruction to Improve Student Performance in Mathematics in Early Grades : Results from a Randomized Field Experiment
Bonesrønning, Hans; Finseraas, Henning; Hardoy, Inés; … - 2021
years. The intervention includes students aged 7-9 and consists of pulling students from their regular mathematics classes … into small, homogenous groups for mathematics instruction for 3 to 4 hours per week, for two periods of 4-6 weeks per … their performance in mathematics by .16 standard deviations at the end of the school year and by .06 standard deviations in …
Persistent link: https://www.econbiz.de/10013312078
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Optimally Controlling an Epidemic
Gonzalez-Eiras, Martín; Niepelt, Dirk - 2021
We propose a flexible model of infectious dynamics with a single endogenous state variable and economic choices. We characterize equilibrium, optimal outcomes, static and dynamic externalities, and prove the following: (i) A lockdown generically is followed by policies to stimulate activity....
Persistent link: https://www.econbiz.de/10013314771