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An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...
Persistent link: https://www.econbiz.de/10013110862
The widely used Oaxaca decomposition applies to linear models. Extending it to commonly used nonlinear models such as duration models is not straightforward. This paper shows that the original decomposition that uses a linear model can also be obtained by an application of the mean value...
Persistent link: https://www.econbiz.de/10012992744
based on average pair-wise residual correlation coefficients. In nonlinear models, the definition of the residual is …
Persistent link: https://www.econbiz.de/10014051110
of the aggregate shock that allows generating the US labor market fluctuations has a correlation with unemployment that …
Persistent link: https://www.econbiz.de/10014084030
-connected information sources, implying a pattern of "overshooting" beliefs. Additionally, in an experimental asset market, correlation …
Persistent link: https://www.econbiz.de/10013082140
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 acted on by them may not be known by the observing...
Persistent link: https://www.econbiz.de/10013154992
Instrumental variables (IV) is an indispensable tool for establishing causal relationships between variables. Recent work has focused on improving bounds for cases when an ideal instrument does not exist. We leverage a principle, "Intransitivity in Correlations," related to an under-utilized...
Persistent link: https://www.econbiz.de/10012959663
This paper considers a multivariate t version of the Gaussian dynamic conditional correlation (DCC) model proposed by …
Persistent link: https://www.econbiz.de/10013316934
This paper studies the fact that 37 percent of the internal migrants in China do not sign a labor contract with their employers, as revealed in a nationwide survey. These contract-free jobs pay lower hourly wages, require longer weekly work hours, and provide less insurance or on-the-job...
Persistent link: https://www.econbiz.de/10012948656
A simple graphical approach to presenting results from nonlinear regression models is described. In the face of multiple covariates, 'partial mean' plots may be unattractive. The approach here is portable to a variety of settings and can be tailored to the specific application at hand. A simple...
Persistent link: https://www.econbiz.de/10013099782