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This paper considers the estimation problem of structural models for which empirical restrictions are characterized by a fixed point constraint, such as structural dynamic discrete choice models or models of dynamic games. We analyze the conditions under which the nested pseudo-likelihood (NPL)...
Persistent link: https://www.econbiz.de/10003805996
on electoral turnout in Norway. Using precipitation on non-election days, I show that the distribution of parameter … estimates is far away from the theoretical distribution. To solve the problem, I suggest controlling for spatial and spatio …
Persistent link: https://www.econbiz.de/10010528337
We assess the public spending efficiency of 20 Latin American countries over the period of 2000-2019, computing Data Envelopment Analysis efficiency scores. For the Public Sector Performance composite indicator, we use the annual data of socio-economic indicators, and for the input measure we...
Persistent link: https://www.econbiz.de/10013453984
How do men and women differ in their persistence after experiencing failure in a competitive environment? We tackle this question by combining a large online experiment (N=2,086) with machine learning. We find that when losing is unequivocally due to merit, both men and women exhibit a...
Persistent link: https://www.econbiz.de/10014319186
What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while others blow over. We demonstrate that what makes...
Persistent link: https://www.econbiz.de/10011309562
Applying a framework of perfect competition under uncertainty, we contribute to the discussion of whether or not ad … pathwise. Since we obtain this result under perfect competition, our analysis also provides a further rationale for why the … equivalence must fail under imperfect competition. -- ad valorem taxes and specific taxes ; revenue neutrality ; price uncertainty …
Persistent link: https://www.econbiz.de/10009630106
. Policymakers have private costs of active policies and compete internationally in a yardstick competition which gives rise to a …
Persistent link: https://www.econbiz.de/10013187549
consistency of the proposed estimators, derive their joint asymptotic distribution, and provide Monte Carlo evidence on their …
Persistent link: https://www.econbiz.de/10003808637
disclosure risk. They can be analyzed in a similar way as additive errors, but with some important and consequential differences …
Persistent link: https://www.econbiz.de/10003824983
The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits …
Persistent link: https://www.econbiz.de/10003974164