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Nonlinear Policy Rules and the Identification and Estimation of Causal Effects in a Generalized Regression Kink Design
Card, David - 2012
We consider nonparametric identification and estimation in a nonseparable model where a continuous regressor of … endogenous assignment variable (like previous earnings). We provide new results on identification and estimation for these …
Persistent link: https://www.econbiz.de/10013097659
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Endogenous Stratification in Randomized Experiments
Abadie, Alberto - 2013
Researchers and policy makers are often interested in estimating how treatments or policy interventions affect the outcomes of those most in need of help. This concern has motivated the increasingly common practice of disaggregating experimental data by groups constructed on the basis of an...
Persistent link: https://www.econbiz.de/10013071514
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External Validity in a Stochastic World
Rosenzweig, Mark R. - 2016
We examine the generalizability of internally valid estimates of causal effects in a fixed population over time when that population is subject to aggregate shocks. This temporal external validity is shown to depend upon the distribution of the aggregate shocks and the interaction between these...
Persistent link: https://www.econbiz.de/10012986284
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Testing Macroprudential Stress Tests : The Risk of Regulatory Risk Weights
Acharya, Viral V. - 2013
their risk assessments and outcomes to those from a simple methodology that relies on publicly available market data and … market data; (iii) This discrepancy arises due to the reliance on regulatory risk weights in determining required levels of … capital once stress-test losses are taken into account. In particular, the continued reliance on regulatory risk weights in …
Persistent link: https://www.econbiz.de/10013083085
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Covid-Induced Economic Uncertainty
Baker, Scott R. - 2020
Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators – stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business...
Persistent link: https://www.econbiz.de/10012837188
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The Macroeconomic Impact of Financial and Uncertainty Shocks
Caldara, Dario - 2016
The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial and uncertainty shocks as potentially important drivers of economic fluctuations. Empirically...
Persistent link: https://www.econbiz.de/10012997363
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Policy Evaluation in Uncertain Economic Environments
Brock, William A.; Durlauf, Steven N.; West, Kenneth D. - 2021
This paper develops a decision-theoretic approach to policy analysis. We argue that policy evaluation should be conducted on the basis of two factors: the policymaker's preferences, and the conditional distribution of the outcomes of interest given a policy and available information. From this...
Persistent link: https://www.econbiz.de/10013226952
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Structural Equations, Treatment Effects and Econometric Policy Evaluation
Heckman, James J. - 2012
econometric literature on structural estimation using a nonparametric analog of a policy invariant parameter; to generate a … fundamental asymmetry intrinsic to the method of instrumental variables is noted. Recent advances in IV estimation allow for …
Persistent link: https://www.econbiz.de/10013099673
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Estimation of Treatment Effects Without an Exclusion Restriction : With an Application to the Analysis of the School Breakfast Program
Millimet, Daniel L. - 2009
estimation strategies. Simulations illustrate the usefulness of our new estimators, as well as provide applied researchers …
Persistent link: https://www.econbiz.de/10013153973
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Balancing, Regression, Difference-in-Differences and Synthetic Control Methods : A Synthesis
Doudchenko, Nikolay - 2016
In a seminal paper Abadie et al (2010) develop the synthetic control procedure for estimating the effect of a treatment, in the presence of a single treated unit and a number of control units, with pre-treatment outcomes observed for all units. The method constructs a set of weights such that...
Persistent link: https://www.econbiz.de/10012980180