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We present a new method for imposing and testing concavity of a cost function using asymptotic least squares, which can easily be implemented even for cost functions which are nonlinear in parameters. We provide an illustration on the basis of a (generalized) Box-Cox cost function with six...
Persistent link: https://www.econbiz.de/10013428379
This paper considers factor estimation from heterogenous data, where some of the variables are noisy and only weakly … estimation with sparse priors on the loadings matrix. The choice of a sparse prior is an extension to the existing macroeconomic … majority of the variables in both datasets are irrelevant for factor estimation. -- Factor models ; variable selection ; sparse …
Persistent link: https://www.econbiz.de/10009674269
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estimation of price reactions on the basis of unit values. We compare two specifications that have been proposed in this context …
Persistent link: https://www.econbiz.de/10011427724
Persistent link: https://www.econbiz.de/10009746312
We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...
Persistent link: https://www.econbiz.de/10010414236
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Network (IBRN), established in 2012, brings together researchers from around the world with access to micro-data on individual …
Persistent link: https://www.econbiz.de/10010393856
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