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Nonparametric Estimation of Average Treatment Effects Under Exogeneity : A Review
Imbens, Guido W. - 2011
Recently there has been a surge in econometric work focusing on estimating average treatment effects under various sets of assumptions. One strand of this literature has developed methods for estimating average treatment effects for a binary treatment under assumptions variously described as...
Persistent link: https://www.econbiz.de/10013126219
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Inference in Structural Vector Autoregressions When the Identifying Assumptions are Not Fully Believed : Re-Evaluating the Role of Monetary Policy in Economic Fluctuations
Baumeister, Christiane - 2018
Reporting point estimates and error bands for structural vector autoregressions that are only set identified is a very common practice. However, unless the researcher is persuaded on the basis of prior information that some parameter values are more plausible than others, this common practice...
Persistent link: https://www.econbiz.de/10012919314
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Bayesian and Frequentist Inference in Partially Identified Models
Moon, Hyungsik Roger - 2015
A large sample approximation of the posterior distribution of partially identified structural parameters is derived for models that can be indexed by a finite-dimensional reduced form parameter vector. It is used to analyze the differences between frequentist confidence sets and Bayesian...
Persistent link: https://www.econbiz.de/10012749798
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A Note on Taxation as Social Insurance for Uncertain Labor Income
Kaplow, Louis - 2014
Various authors, notably Eaton and Rosen (1980a) and Varian (1980), have proposed that income taxation may be justified to some extent on the ground that it serves as social insurance against uncertainties in labor income. They assume that private insurance is unavailable. primarily because of...
Persistent link: https://www.econbiz.de/10013069377
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Government Relief for Risk Associated with Government Action
Kaplow, Louis - 2010
A significant source of risk arises from uncertainty concerning future government policy. Government action - - tax reform, deregulation, judicial decisions, budgetary shifts - - produces gains and losses for those who invested under preexisting rules. The effects of government relief - -...
Persistent link: https://www.econbiz.de/10012760199
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Capital Accumulation and Uncertain Lifetimes with Adverse Selection
Abel, Andrew B. - 2010
This paper examines the implications of adverse selection in the private annuity market for the pricing of private annuities and the consequent effects on constrption and bequest behavior. With privately known heterogeneous mortality probabilities, adverse selection causes the rate of return on...
Persistent link: https://www.econbiz.de/10012763046
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Home Equity Insurance
Shiller, Robert J. - 2010
life event (such as a move beyond a certain geographical distance) occurs. Pricing of the premia to cover loss experience …
Persistent link: https://www.econbiz.de/10012763566
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An Empirical Examination of Information Barriers to Trade in Insurance
Cawley, John - 2010
This paper tests restrictions implied by the canonical theory of insurance under asymmetric information using ideal … life insurance. We report several findings which are hard to reconcile with the canonical theory. First, we find a striking …-linear pricing than predicted by theory: the theory predicts that prices rise with quantity, but we find that they fall. Third, we …
Persistent link: https://www.econbiz.de/10012763899
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Multidimensional Private Information, Market Structure and Insurance Markets
Fang, Hanming - 2016
A large empirical literature found that the correlation between insurance purchase and ex post realization of risk is often statistically insignificant or negative. This is inconsistent with the predictions from the classic models of insurance a la Akerlof (1970), Pauly (1974) and Rothschild and...
Persistent link: https://www.econbiz.de/10012980144
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Imperfect Competition in Selection Markets
Mahoney, Neale - 2016
Standard policies to correct market power and selection can be misguided when these two forces co-exist. Using a calibrated model of employer-sponsored health insurance, we show that the risk adjustment commonly used by employers to offset adverse selection often reduces the amount of...
Persistent link: https://www.econbiz.de/10013006017