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Private information, human capital, and optimal 'home bias' in financial markets
Ehrlich, Isaac; Shin, Jong Kook; Yin, Yong - 2011
By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or home bias, from what standard finance models predict. Our model ascribes the bias to...
Persistent link: https://www.econbiz.de/10010286893
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Does conflict disrupt growth? Evidence of the relationship between political instability and national economic performance
Polachek, Solomon W.; Sevastianova, Daria - 2010
variables. This study draws on conflict variables from the Correlates of War (COW) project to ask a critical question: How do … different types of conflict affect country growth rates? It finds that wars slow the economy. Estimates indicate that civil war …
Persistent link: https://www.econbiz.de/10010269690
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Violent conflict and inequality
Bircan, Cagatay; Brück, Tilman; Vothknecht, Marc - 2010
focused on the other direction. We use cross-country panel data for the time period 1960-2005 to estimate war-related changes … in income inequality. Our results indicate rising levels of inequality during war and especially in the early period of … post-war reconstruction. However, we find that this rise in income inequality is not permanent. While inequality peaks …
Persistent link: https://www.econbiz.de/10010269837
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Identifying conflict and violence in micro-level surveys
Brück, Tilman; Justino, Patricia; Verwimp, Philip; … - 2010
focus on World Bank's Living Standard Measurement Surveys (LSMS), and propose suggestions on how to improve questionnaires …
Persistent link: https://www.econbiz.de/10010272662
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Charitable Behaviour and the Big Five Personality Traits: Evidence from UK Panel Data
Brown, Sarah; Taylor, Karl - 2015
This paper investigates the association between personality traits and charitable behaviour, namely donations of time and money, using data from Understanding Society, the most recent large scale UK household longitudinal survey. Due to the censored nature of the outcome variables, i.e. some...
Persistent link: https://www.econbiz.de/10011345369
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Endogeneity and Non-Response Bias in Treatment Evaluation: Nonparametric Identification of Causal Effects by Instruments
Fricke, Hans; Frölich, Markus; Huber, Martin; Lechner, … - 2015
This paper proposes a nonparametric method for evaluating treatment effects in the presence of both treatment endogeneity and attrition/non-response bias, using two instrumental variables. Making use of a discrete instrument for the treatment and a continuous instrument for...
Persistent link: https://www.econbiz.de/10011401691
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Treatment Evaluation with Multiple Outcome Periods under Endogeneity and Attrition
Frölich, Markus; Huber, Martin - 2014
This paper develops a nonparametric methodology for treatment evaluation with multiple outcome periods under treatment endogeneity and missing outcomes. We use instrumental variables, pre-treatment characteristics, and short-term (or intermediate) outcomes to identify the average treatment...
Persistent link: https://www.econbiz.de/10010333307
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Technical Efficiency, Unions and Decentralized Labor Contracts
Devicienti, Francesco; Manello, Alessandro; Vannoni, Davide - 2016
This paper explores the link between the presence of unions in the workplace, the adoption of decentralized labor agreements and technical efficiency, using a large sample of Italian manufacturing firms. We apply the Data Envelopment Analysis, and its robust version based on bootstrap theory, to...
Persistent link: https://www.econbiz.de/10011584607
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Have Econometric Analyses of Happiness Data Been Futile? A Simple Truth about Happiness Scales
Chen, Le-Yu; Oparina, Ekaterina; Powdthavee, Nattavudh; … - 2019
Econometric analyses in the happiness literature typically use subjective well-being (SWB) data to compare the mean of observed or latent happiness across samples. Recent critiques show that com-paring the mean of ordinal data is only valid under strong assumptions that are usually rejected by...
Persistent link: https://www.econbiz.de/10012005853
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Estimating Selection Models without Instrument with Stata
D'Haultfœuille, Xavier; Maurel, Arnaud; Qiu, Xiaoyun; … - 2019
This article presents the eqregsel command for implementing the estimation and bootstrap inference of sample selection models via extremal quantile regression. The command estimates a semiparametric sample selection model without instrument or large support regressor, and outputs the point...
Persistent link: https://www.econbiz.de/10012059216