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Surprising Comparative Properties of Monetary Models : Results from a New Data Base
Taylor, John B. - 2010
In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new data base of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...
Persistent link: https://www.econbiz.de/10012757616
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Instruments of Development : Randomization in the Tropics, and the Search for the Elusive Keys to Economic Development
Deaton, Angus - 2010
-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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Reconsideration of the P-Bar Model of Gradual Price Adjustment
McCallum, Bennett T. - 2010
This paper compares the P-bar model of price adjustment with the currently dominant Calvo specification. Theoretically, the P-bar model is more attractive as it depends upon adjustment costs for physical quantities rather than nominal prices, while incorporating a one-period information lag....
Persistent link: https://www.econbiz.de/10012758598
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Posterior Predictive Analysis for Evaluating DSGE Models
Faust, Jon - 2012
While dynamic stochastic general equilibrium (DSGE) models for monetary policy analysis have come a long way, there is considerable difference of opinion over the role these models should play in the policy process. The paper develops three main points about assessing the value of these models....
Persistent link: https://www.econbiz.de/10013109444
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Program Evaluation and Research Designs
DiNardo, John E. - 2010
This chapter provides a selective review of some contemporary approaches to program evaluation. One motivation for our … examine some commonly employed evaluation strategies, and assess them with a common set of criteria for "internal validity …", the foremost goal of an ex post evaluation. In some cases, we also provide some concrete illustrations of how internally …
Persistent link: https://www.econbiz.de/10013143173
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Detecting Discrimination in Audit and Correspondence Studies
Neumark, David - 2010
Audit studies testing for discrimination have been criticized because applicants from different groups may not appear identical to employers. Correspondence studies address this criticism by using fictitious paper applicants whose qualifications can be made identical across groups. However,...
Persistent link: https://www.econbiz.de/10013137303
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Retirement Research Using the Health and Retirement Survey
Gustman, Alan L. - 2010
This paper highlights unanswered research questions in the economics of retirement, and shows how these issues can be addressed using the new Health and Retirement Survey (HRS). Unique features of the survey are described including administrative records on earnings and social security benefits,...
Persistent link: https://www.econbiz.de/10013138704
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Analyzing Social Experiments as Implemented : A Reexamination of the Evidence from the Highscope Perry Preschool Program
Heckman, James J. - 2010
Social experiments are powerful sources of information about the effectiveness of interventions. In practice, initial randomization plans are almost always compromised. Multiple hypotheses are frequently tested. "Significant" effects are often reported with p-values that do not account for...
Persistent link: https://www.econbiz.de/10013138949
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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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Six Decades of Top Economics Publishing : Who and How?
Hamermesh, Daniel S. - 2012
Presenting data on all full-length articles published in the three top general economics journals for one year in each of the 1960s through 2010s, I analyze how patterns of co-authorship, age structure and methodology have changed, and what the possible causes of these changes may have been. The...
Persistent link: https://www.econbiz.de/10013096137