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Inflation, Minimum Wage and Other Wages: An Econometric Study on French Macroeconomic Data
L'Horty, Yannick; Rault, Christophe - Institute for the Study of Labor (IZA) - 2003
This paper examines the set of interdependences between the formation of wages, prices and the minimum wage (SMIC) through a vectorial error correction model estimated on French quarterly macroeconomic data covering the 1970-1/1999-4 period. Two periods are distinguished: the period of inflation...
Persistent link: https://www.econbiz.de/10005233863
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Infinite dimensional VARs and factor models
Chudik, Alexander; Pesaran, Mohammad Hashem - 2007
dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the … number of endogenous variables tends to infinity. It is shown that under such restrictions, an infinite-dimensional VAR (or … IVAR) can be arbitrarily well characterized by a large number of finite-dimensional models in the spirit of the global VAR …
Persistent link: https://www.econbiz.de/10010276258
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Infinite Dimensional VARs and Factor Models
Chudik, Alexander; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2007
dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the … number of endogenous variables tends to infinity. It is shown that under such restrictions, an infinite-dimensional VAR (or … IVAR) can be arbitrarily well characterized by a large number of finite-dimensional models in the spirit of the global VAR …
Persistent link: https://www.econbiz.de/10005763451
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Predictability of asset returns and the efficient market hypothesis
Pesaran, Mohammad Hashem - 2010
considers the evidence on return predictability, risk aversion and market efficiency. The paper then focuses on the theoretical …
Persistent link: https://www.econbiz.de/10010276268
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Predictability of Asset Returns and the Efficient Market Hypothesis
Pesaran, Hashem - Institute for the Study of Labor (IZA) - 2010
considers the evidence on return predictability, risk aversion and market efficiency. The paper then focuses on the theoretical …
Persistent link: https://www.econbiz.de/10008466034
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Health care expenditure and income in the OECD reconsidered: Evidence from panel data
Baltagi, Badi H.; Moscone, Francesco - 2010
This paper reconsiders the long-run economic relationship between health care expenditure and income using a panel of 20 OECD countries observed over the period 1971-2004. In particular, the paper studies the non-stationarity and cointegration properties between health care spending and income....
Persistent link: https://www.econbiz.de/10010269764
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Estimating Distributions of Treatment Effects with an Application to the Returns to Schooling and Measurement of the Effects of Uncertainty on College Choice
Carneiro, Pedro; Hansen, Karsten T.; Heckman, James Joseph - 2003
This paper uses factor models to identify and estimate distributions of counterfactuals. We extend LISREL frameworks to a dynamic treatment effect setting, extending matching to account for unobserved conditioning variables. Using these models, we can identify all pairwise and joint treatment...
Persistent link: https://www.econbiz.de/10010274215
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Quantile Factor Models
Chen, Liang; Dolado, Juan J.; Gonzalo, Jesús - 2020
Quantile factor models (QFM) represent a new class of factor models for high-dimensional panel data. Unlike approximate factor models (AFM), which only extract mean factors, QFM also allow unobserved factors to shift other relevant parts of the distributions of observables. We propose a quantile...
Persistent link: https://www.econbiz.de/10012497771
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Health Care Expenditure and Income in the OECD Reconsidered: Evidence from Panel Data
Baltagi, Badi H.; Moscone, Francesco - Institute for the Study of Labor (IZA) - 2010
This paper reconsiders the long-run economic relationship between health care expenditure and income using a panel of 20 OECD countries observed over the period 1971-2004. In particular, the paper studies the non-stationarity and cointegration properties between health care spending and income....
Persistent link: https://www.econbiz.de/10008547894
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Estimating Distributions of Treatment Effects with an Application to the Returns to Schooling and Measurement of the Effects of Uncertainty on College Choice
Carneiro, Pedro; Hansen, Karsten T.; Heckman, James J. - Institute for the Study of Labor (IZA) - 2003
This paper uses factor models to identify and estimate distributions of counterfactuals. We extend LISREL frameworks to a dynamic treatment effect setting, extending matching to account for unobserved conditioning variables. Using these models, we can identify all pairwise and joint treatment...
Persistent link: https://www.econbiz.de/10005703331