Showing 1 - 10 of 26
Estimated labor supply functions are important tools when designing an optimal income tax or calculating the effect of tax reforms. It is therefore of large importance to use estimation methods that give reliable results and to know their properties. In this paper Monte Carlo simulations are...
Persistent link: https://www.econbiz.de/10014469584
We examine the dynamic impact of household borrowing on the trade balance using data from 33 developing countries and 36 developed countries over the 1980-2017 period. Our findings suggest that the impact of household borrowing on the trade balance is by and large negative, both in the short and...
Persistent link: https://www.econbiz.de/10012599210
This paper considers spatial autoregressive panel data models and extends their analysis to the case where the spatial coefficients differ across the spatial units. It derives conditions under which the spatial coefficients are identified and develops a quasi maximum likelihood (QML) estimation...
Persistent link: https://www.econbiz.de/10011307088
The 2007-2008 global financial crisis and the subsequent anemic recovery have rekindled academic interest in quantifying the impact of uncertainty on macroeconomic dynamics based on the premise that uncertainty causes economic activity to slow down and contract. In this paper, we study the...
Persistent link: https://www.econbiz.de/10010352410
In absence of randomized controlled experiments, identification is often aimed via instrumental variable (IV … design credible identification strategies, aforemost finding candidates for valid instruments. We discuss prominent IV …
Persistent link: https://www.econbiz.de/10012018160
This paper considers the problem of identification, estimation and inference in the case of spatial panel data models … errors. A quasi maximum likelihood (QML) estimation procedure is developed and the conditions for identification of spatial …
Persistent link: https://www.econbiz.de/10012018233
interventions. The identification of such causal mechanisms is challenging and typically requires strong assumptions. This paper … discusses identification and estimation of natural direct and indirect effects in so-called double randomization designs that … outcome. We show that such designs allow for identification based on an assumption that is weaker than the assumption of …
Persistent link: https://www.econbiz.de/10011887402
to parameterize identification uncertainty without falling back on ad hoc prior specifications. They are also unable to … mainly the imposition of a highly unrealistic prior for the global impact price elasticity of oil supply. Once identification …
Persistent link: https://www.econbiz.de/10011931916
Macroeconomic news announcements are elaborate and multi-dimensional. We consider a framework in which jumps in asset prices around macroeconomic news and monetary policy announcements reflect both the response to observed surprises in headline numbers and latent factors, reflecting other...
Persistent link: https://www.econbiz.de/10011931979
differences in data sets; (b) differences in remaining biases between different identification strategies; and (c) differences … across identification strategies in their ability to make out-of-sample predictions. We conclude that discrepancies in past …
Persistent link: https://www.econbiz.de/10010274841