Showing 1 - 10 of 26
Two-step estimation with large panel data sets generally involves estimating vectors of individual-specific coefficients in a first-stage. In a second-stage estimation a vector of estimated coefficients is used as the dependent variable. Potential problems of heteroskedasticity in the second...
Persistent link: https://www.econbiz.de/10010594058
Many randomized controlled trials require participants to opt in. Such self-selection could introduce a potential bias, because only the most optimistic may participate. We revisit this prediction. We argue that in many situations, the experimental intervention is competing with alternative...
Persistent link: https://www.econbiz.de/10010930701
Analysing administrative sales data in a quasi-experimental framework, we show that smoking bans did not impact the economic activity of bars and restaurants in Switzerland. However, we find some evidence of a negative impact on sales in discos.
Persistent link: https://www.econbiz.de/10011041739
This paper continues discussion on the issue of time series decomposition by presentation of the Empirical Mode Decomposition technique. This technique outperforms well-known time-series filters by providing a deeper insight into the structure of time series.
Persistent link: https://www.econbiz.de/10011041773
Imposing the monotone treatment selection (MTS) assumption and the monotone instrumental variable (MIV) assumption implies bounds on average treatment effect that differ from those commonly reported in the applied literature. Instead, for the bounds to be correct, we should use an MTS assumption...
Persistent link: https://www.econbiz.de/10011041834
This paper proposes a quantile regression estimator for the diffusion parameter in diffusion processes with compound Poisson jumps. The method is based on discretely sampled observations at high frequency. We verify its consistency and exhibit its robustness to jumps through a simulation study.
Persistent link: https://www.econbiz.de/10010594186
In this paper, we study the Jarque–Bera (JB) and cusum tests for the normality of innovations and parameter change in BCTT-GARCH models. In order to demonstrate the validity of JB normality and cusum parameter change tests, we derive their limiting null distributions under mild conditions.
Persistent link: https://www.econbiz.de/10010662393
We examine the (potentially nonlinear) relationship between inequality and growth using a method which does not require an a priori assumption on the underlying functional form. This approach reveals a plateau completely missed by commonly used (nonlinear) parametric approaches—the economy...
Persistent link: https://www.econbiz.de/10011208448
This paper employs panel methods that address/mitigate heterogeneity and cross-sectional dependence to determine the direction and sign of long-run causality between transport energy consumption per capita and real GDP per capita. Granger-causality was determined to run from GDP to energy.
Persistent link: https://www.econbiz.de/10010729437
Missing data is a common problem in economics studies. We propose using Mallows model averaging (MMA) to deal with this problem, which has an important advantage over its competitors in that it asymptotically achieves the lowest possible squared error. A simulation study in comparison with...
Persistent link: https://www.econbiz.de/10010729466