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Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency

Cahuc, Pierre - 2009

We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …

Persistent link: https://www.econbiz.de/10013153172

Mind, Body, Bubble! Psychological and Biophysical Dimensions of Behavior in Experimental Asset Markets

Butler, David - 2018

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to …

Persistent link: https://www.econbiz.de/10012917090

The Romano-Wolf Multiple Hypothesis Correction in Stata

Clarke, Damian - 2020

When considering multiple hypothesis tests simultaneously, standard statistical techniques will lead to over-rejection of null hypotheses unless the multiplicity of the testing framework is explicitly considered. In this paper we discuss the Romano-Wolf multiple hypothesis correction, and...

Persistent link: https://www.econbiz.de/10012844826

Mostly Harmless Simulations? On the Internal Validity of Empirical Monte Carlo Studies

Advani, Arun - 2018

Currently there is little practical advice on which treatment effect estimator to use when trying to adjust for observable differences. A recent suggestion is to compare the performance of estimators in simulations that somehow mimic the empirical context. Two ways to run such 'empirical Monte...

Persistent link: https://www.econbiz.de/10012938144

Estimating Poverty for Refugee Populations : Can Cross-Survey Imputation Methods Substitute for Data Scarcity?

Dang, Hai-Anh - 2019

The increasing growth of forced displacement worldwide has led to the stronger interest of various stakeholders in measuring poverty among refugee populations. However, refugee data remain scarce, particularly in relation to the measurement of income, consumption, or expenditure. This paper...

Persistent link: https://www.econbiz.de/10012857830

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

Distributional Effects of Competition : A Simulation Approach

Rodríguez-Castelán, Carlos; Araar, Abdelkrim; … - 2021

Understanding the economic and social effects of the recent global trends of rising market concentration and market power has become a policy priority. To fill this knowledge gap, this paper introduces a simple simulation method, the Welfare and Competition tool (WELCOM), to estimate with...

Persistent link: https://www.econbiz.de/10013250767

Testing for Restricted Stochastic Dominance

Davidson, Russell; Duclos, Jean-Yves - 2006

Asymptotic and bootstrap tests are studied for testing whether there is a relation of stochastic dominance between two distributions. These tests have a null hypothesis of nondominance, with the advantage that, if this null is rejected, then all that is left is dominance. This also leads us to...

Persistent link: https://www.econbiz.de/10014059083

Poverty Imputation in Contexts Without Consumption Data : A Revisit with Further Refinements

Dang, Hai-Anh; Kilic, Talip; Abanokova, Kseniya; … - 2023

Household consumption data are often unavailable, not fully collected, or incomparable over time in poorer countries. Survey-to-survey imputation has been increasingly employed to address these data gaps for poverty measurement, but its effective use requires standardized protocols. We refine...

Persistent link: https://www.econbiz.de/10014255833

Recovering Income Distribution in the Presence of Interval-Censored Data

Canavire-Bacarreza, Gustavo J.; Rios Avila, Fernando; … - 2023

This paper proposes a method to analyze interval-censored data, using multiple imputation based on a heteroskedastic interval regression approach. The proposed model aims to obtain a synthetic data set that can be used for standard analysis, including standard linear regression, quantile...

Persistent link: https://www.econbiz.de/10014261577

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