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The Feasibility and Importance of Adding Measures of Actual Experience to Cross-Sectional Data Collection
Blau, Francine D. - 2011
We use Michigan Panel Study of Income Dynamics data and data from a 2008 telephone survey of adults conducted by Westat for the Princeton Data Improvement Initiative (PDII) to explore the importance and feasibility of adding retrospective questions about actual work experience to cross-sectional...
Persistent link: https://www.econbiz.de/10013122215
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Education Research and Administrative Data
Figlio, David N. - 2015
Thanks to extraordinary and exponential improvements in data storage and computing capacities, it is now possible to collect, manage, and analyze data in magnitudes and in manners that would have been inconceivable just a short time ago. As the world has developed this remarkable capacity to...
Persistent link: https://www.econbiz.de/10013014667
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Emptying the Tank : Getting the Most Out of Limited Data
Taylor, M. Scott - 2018
All empirical researchers know that having more sources of variation in a dataset is valuable. What is not known is how valuable, and if the marginal value of adding another source of variation diminishes or increases. This note provides explicit answers to these questions. It defines "valuable"...
Persistent link: https://www.econbiz.de/10012914251
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Measuring Total Household Spending in a Monthly Internet Survey : Evidence from the American Life Panel
Hurd, Michael D. - 2012
Beginning in May 2009 we fielded a monthly Internet survey designed to measure total household spending as the aggregate of about 40 spending components. This paper reports on a number of outcomes from 30 waves of data collection. These outcomes include sample attrition, indicators of data...
Persistent link: https://www.econbiz.de/10013108000
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Robust Standard Errors in Small Samples : Some Practical Advice
Imbens, Guido W. - 2012
In this paper we discuss the properties of confidence intervals for regression parameters based on robust standard errors. We discuss the motivation for a modification suggested by Bell and McCaffrey (2002) to improve the finite sample properties of the confidence intervals based on the...
Persistent link: https://www.econbiz.de/10013099125
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To Hold Out or Not to Hold Out
Schorfheide, Frank - 2013
A recent literature has developed that combines two prominent empirical approaches to ex ante policy evaluation: randomized controlled trials (RCT) and structural estimation. The RCT provides a "gold-standard'' estimate of a particular treatment, but only of that treatment. Structural estimation...
Persistent link: https://www.econbiz.de/10013073955
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Information Costs and Sequential Information Sampling
Hebert, Benjamin - 2018
We propose a new approach to modeling the cost of information structures in rational inattention problems, the "neighborhood-based" cost functions. These cost functions have two properties that we view as desirable: they summarize the results of a sequential evidence accumulation problem, and...
Persistent link: https://www.econbiz.de/10012907127
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Non-Randomly Sampled Networks : Biases and Corrections
Hsieh, Chih-Sheng - 2018
first characterize the biases in both network statistics and estimates of network effects under non-random sampling …-classical measurement-error problems when applied as regressors. Apart from the sampling rate and the elicitation procedure, these biases … applied to network data collected via both designed and non-designed sampling procedures, does not require one to assume any …
Persistent link: https://www.econbiz.de/10012907751
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Taking the Cochrane-Piazzesi Term Structure Model Out of Sample : More Data, Additional Currencies, and FX Implications
Hodrick, Robert J. - 2018
We examine the Cochrane and Piazzesi (2005, 2008) model in several out-of-sample analyzes. The model's one-factor forecasting structure characterizes the term structures of additional currencies in samples ending in 2003. In post-2003 data one-factor structures again characterize each currency's...
Persistent link: https://www.econbiz.de/10012910309
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Data-Snooping Biases in Tests of Financial Asset Pricing Models
Lo, Andrew W. - 2010
We investigate the extent to which tests of financial asset pricing models may be biased by using properties of the data to construct the test statistics. Specifically, we focus on tests using returns to portfolios of common stock where portfolios are constructed by sorting on some empirically...
Persistent link: https://www.econbiz.de/10012763376