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Simulation and Estimation of Nonaddative Hedonic Models

Heckman, James J.; Matzkin, Rosa L.; Nesheim, Lars - 2021

Making use of restrictions imposed by equilibrium, theoretical progress has been made on the nonparametric and semiparametric estimation and identification of scalar additive hedonic models (Ekeland, Heckman, and Nesheim, 2002) and scalar nonadditive hedonic models (Heckman, Matzkin, and...

Persistent link: https://www.econbiz.de/10013219280

A Note on Adapting Propensity Score Matching and Selection Models to Choice Based Samples

Heckman, James J. - 2010

The probability of selection into treatment plays an important role in matching and selection models. However, this … note establishes that the selection and matching procedures can be implemented using propensity scores fit on choice …

Persistent link: https://www.econbiz.de/10013152094

Using Matching, Instrumental Variables and Control Functions to Estimate Economic Choice Models

Heckman, James J.; Navarro-Lozano, Salvador - 2022

selection) in matching, instrumental variable and control functions methods. (2) It contrasts the roles of exclusion … restrictions in matching and selection models. (3) It characterizes the sensitivity of matching to the choice of conditioning …. (4) It demonstrates the problem of choosing the conditioning variables in matching and the failure of conventional model …

Persistent link: https://www.econbiz.de/10013311183

The Identification and Economic Content of Ordered Choice Models with Stochastic Thresholds

Cunha, Flavio - 2007

This paper extends the widely used ordered choice model by introducing stochastic thresholds and interval-specific outcomes. The model can be interpreted as a generalization of the GAFT (MPH) framework for discrete duration data that jointly models durations and outcomes associated with...

Persistent link: https://www.econbiz.de/10012776466

Instrumental Variables, Selection Models, and Tight Bounds on the Average Treatment Effect

Heckman, James J.; Vytlacil, Edward - 2021

This paper exposits and relates two distinct approaches to bounding the average treatment effect. One approach, based on instrumental variables, is due to Manski (1990, 1994), who derives tight bounds on the average treatment effect under a mean independence form of the instrumental variables...

Persistent link: https://www.econbiz.de/10013239385

Causal Parameters and Policy Analysis in Economcs : a Twentieth Century Retrospective

Heckman, James J. - 2021

The major contributions of twentieth century econometrics to knowledge were the definition of causal parameters when agents are constrained by resources and markets and causes are interrelated, the analysis of what is required to recover causal parameters from data (the identification problem),...

Persistent link: https://www.econbiz.de/10013219291

Granger-Causality and Stabilization Policy

Buiter, Willem H. - 2021

This paper aims to provide a stochastic, rational expectations extension of Tobin's "Money and Income; Post Hoc Ergo Proper Hoc?". It is well-known that money may Granger-cause real variables even though the joint density function of the real variables is invariant under changes in the...

Persistent link: https://www.econbiz.de/10013219733

Making the Most Out of Social Experiments : Reducing the Intrinsic Uncertainty in Evidence from Randomized Trials with an Application to the Jtpa Exp

Heckman, James J.; Smith, Jeffrey A. - 2022

This paper demonstrates that even under ideal conditions, social experiments in general only uniquely determine the mean impacts of programs but not the median or the distribution of program impacts. The conventional common parameter evaluation model widely used in econometrics is one case where...

Persistent link: https://www.econbiz.de/10013313271

Labor Supply Estimates for Public Policy Evaluation

Borjas, George J.; Heckman, James J. - 2021

In recent years, the study of labor supply has occupied the attention of a large number of economists. With the growth in interest in the topic and with the inevitable diversity of economic models and statistical methods proposed by new entrants in the field, the literature has developed its own...

Persistent link: https://www.econbiz.de/10013231227

Nonparametric Identification and Estimation of Nonadditive Hedonic Models

Heckman, James J. - 2010

This paper studies the identification and estimation of preferences and technologies in equilibrium hedonic models. In it, we identify nonparametric structural relationships with nonadditive heterogeneity. We determine what features of hedonic models can be identified from equilibrium...

Persistent link: https://www.econbiz.de/10013151385

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