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Early Health Shocks, Intrahousehold Resource Allocation, and Child Outcomes

Yi, Junjian - 2014

An open question in the literature is whether families compensate or reinforce the impact of child health shocks. Discussions usually focus on one dimension of child investment. This paper examines multiple dimensions using household survey data on Chinese child twins whose average age is 11. We...

Persistent link: https://www.econbiz.de/10013039591

Aggregation in Large Dynamic Panels

Pesaran, M. Hashem - 2011

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...

Persistent link: https://www.econbiz.de/10013129942

An Empirical Growth Model for Major Oil Exporters

Esfahani, Hadi Salehi - 2012

-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth …

Persistent link: https://www.econbiz.de/10013107701

Testing the Correlated Random Coefficient Model

Heckman, James J. - 2009

The recent literature on instrumental variables (IV) features models in which agents sort into treatment status on the … basis of gains from treatment as well as on baseline-pretreatment levels. Components of the gains known to the agents and … implications of the hypothesis that agents do not sort into treatment based on gains. In it, we develop new tests to gauge the …

Persistent link: https://www.econbiz.de/10013154992

Estimation of Dynamic Discrete Choice Models by Maximum Likelihood and the Simulated Method of Moments

Eisenhauer, Philipp - 2014

We compare the performance of maximum likelihood (ML) and simulated method of moments (SMM) estimation for dynamic discrete choice models. We construct and estimate a simplified dynamic structural model of education that captures some basic features of educational choices in the United States in...

Persistent link: https://www.econbiz.de/10013045058

Estimating the Technology of Cognitive and Noncognitive Skill Formation

Cunha, Flavio - 2010

This paper formulates and estimates multistage production functions for children's cognitive and noncognitive skills. Skills are determined by parental environments and investments at different stages of childhood. We estimate the elasticity of substitution between investments in one period and...

Persistent link: https://www.econbiz.de/10013148325

Modelling Volatilities and Conditional Correlations in Futures Markets with a Multivariate T Distribution

Pesaran, Bahram; Pesaran, M. Hashem - 2021

This paper considers a multivariate t version of the Gaussian dynamic conditional correlation (DCC) model proposed by Engle (2002), and suggests the use of devolatized returns computed as returns standardized by realized volatilities rather than by GARCH type volatility estimates. The t-DCC...

Persistent link: https://www.econbiz.de/10013316934

Inference with Imperfect Randomization : The Case of the Perry Preschool Program

Heckman, James J. - 2011

assignment of treatment status is imperfectly randomized. By imperfect randomization we mean that treatment status is reassigned …

Persistent link: https://www.econbiz.de/10013126934