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Estimation and Evaluation of DSGE Models : Progress and Challenges
Schorfheide, Frank - 2011
advances in the estimation and evaluation of DSGE models, discusses current challenges, and provides avenues for future …
Persistent link: https://www.econbiz.de/10013130259
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Regression Discontinuity Designs with an Endogenous Forcing Variable and an Application to Contracting in Health Care
Bajari, Patrick - 2011
Regression discontinuity designs (RDDs) are a popular method to estimate treatment effects. However, RDDs may fail to yield consistent estimates if the forcing variable can be manipulated by the agent. In this paper, we examine one interesting set of economic models with such a feature....
Persistent link: https://www.econbiz.de/10013117577
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How Reliable are De Facto Exchange Rate Regime Classifications?
Eichengreen, Barry - 2011
We analyze disagreements over de facto exchange-rate-regime classifications using three popular de facto regime data series. While there is a moderate degree of concurrence across classifications, disagreements are not uncommon, and they are not random. They are most prevalent in middle-income...
Persistent link: https://www.econbiz.de/10013121069
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A New Approach to the Valuation of Intangible Capital
Cummins, Jason G. - 2012
In this paper, I argue that intangible capital is not a distinct input to production like physical capital or labor but rather it is the glue that creates value from other inputs. This perspective naturally leads to an empirical model in which intangible capital is defined in terms of adjustment...
Persistent link: https://www.econbiz.de/10013102059
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Should Benchmark Indices Have Alpha? Revisiting Performance Evaluation
Cremers, Martijn - 2012
benchmark indices. Both kinds of alternative models improve performance evaluation of actively managed portfolios, with the …
Persistent link: https://www.econbiz.de/10013106957
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Bayesian Performance Evaluation
Baks, Klaas - 2008
This paper proposes a Bayesian method of performance evaluation for investment managers. We begin with a flexible set …
Persistent link: https://www.econbiz.de/10012774817
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The Value of a Statistical Life and the Coefficient of Relative Risk Aversion
Kaplow, Louis - 2003
Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in financial, labor, and product markets. Recent work, especially in financial economics, provides estimates of individuals' coefficients of relative risk aversion (CRRA's) in excess of...
Persistent link: https://www.econbiz.de/10012786465
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Mortality Risk, Insurance, and the Value of Life
Bauer, Daniel - 2018
illness can significantly increase the value of statistical life, helping to reconcile theory with empirical findings that …
Persistent link: https://www.econbiz.de/10012911078
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Instruments of Development : Randomization in the Tropics, and the Search for the Elusive Keys to Economic Development
Deaton, Angus - 2010
randomized controlled trials (RCTs) to accumulate credible knowledge of what works, without over-reliance on questionable theory …-based evaluation of projects is unlikely to lead to scientific progress in the understanding of economic development. I welcome recent … trends in development experimentation away from the evaluation of projects and towards the evaluation of theoretical …
Persistent link: https://www.econbiz.de/10012757925
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The Value of Life in General Equilibrium
Jena, Anupam B. - 2010
Perhaps the most important change of the last century was the great expansion of life itself -- in the US alone, life expectancy increased from 48 to 78 years. Recent economic estimates confirm this claim, finding that the economic value of the gain in longevity was on par with the value of...
Persistent link: https://www.econbiz.de/10012758603