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Measuring Time and Risk Preferences : Reliability, Stability, Domain Specificity

Woelbert, Eva - 2013

To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward risk and typically need to assume stability of these characteristics over time and across decision domains. We test the reliability of two choice tasks for eliciting discount...

Persistent link: https://www.econbiz.de/10013078528

Estimating Individual Ambiguity Aversion : A Simple Approach

Genîzî, Ûrî; Imas, Alex; List, John A. - 2021

as the importance of joint estimation. In addition, over our stakes levels we find no difference in the estimated …

Persistent link: https://www.econbiz.de/10013315553

What Does Trade Openness Measure?

Fujii, Eiji - 2017

An empirical measure of trade openness is defined as the ratio of total trade to GDP, and represents a convenient variable routinely used for cross-country studies on a variety of issues. However, the effects that the crude measure captures remain ambiguous, making it difficult to interpret the...

Persistent link: https://www.econbiz.de/10012946850

A Rise By Any Other Name? Sensitivity of Growth Regressions to Data Source

Hanousek, Jan - 2008

Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...

Persistent link: https://www.econbiz.de/10012773476

Measurement Error in Education and Growth Regressions

Portela, Miguel - 2008

The perpetual inventory method used for the construction of education data per country leads to systematic measurement … error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the … the measurement error. The standard attenuation bias suggests that using these corrected data would lead to a higher …

Persistent link: https://www.econbiz.de/10012774497

Pairwise Tests of Purchasing Power Parity Using Aggregate and Disaggregate Price Measures

Pesaran, M. Hashem - 2013

In this paper we adopt a new approach to testing for purchasing power parity, PPP, that is robust to base country effects, cross-section dependence, and aggregation. Given data on N + 1 countries, i, j = 0, 1, 2, ..., N, the standard procedure is to apply unit root or stationarity tests to N...

Persistent link: https://www.econbiz.de/10012754327

A Tale of Two Debt Crises : A Stochastic Optimal Control Analysis

Stein, Jerome L. - 2021

Banks should evaluate whether a borrower is likely to default. I apply several techniques in the extensive mathematical literature of stochastic optimal control/dynamic programming to derive an optimal debt in an environment where there are risks on both the asset and liabilities sides. The...

Persistent link: https://www.econbiz.de/10013316580

Exchange Rate Misalignment Estimates - Sources of Differences

Cheung, Yin-Wong - 2013

We study the differences of currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....

Persistent link: https://www.econbiz.de/10013092474

How Productive is Public Capital? A Meta-Analysis

Bom, Pedro; Ligthart, Jenny E. - 2021

explained by study design parameters, such as econometric specification, estimation technique, empirical model, type of public …

Persistent link: https://www.econbiz.de/10013316601

Contests as Selection Mechanisms : The Impact of Risk Aversion

March, Christoph - 2017

We investigate how individual risk preferences affect the likelihood of selecting the more able contestant within a two-player Tullock contest. Our theoretical model yields two main predictions: First, an increase in the risk aversion of a player worsens her odds unless she already has a...

Persistent link: https://www.econbiz.de/10012949244