Showing 1 - 10 of 55
vote Democratic. This switch is an aggregation reversal, where an individual relationship, like income and Republicanism …, is reversed at some level of aggregation. Aggregation reversals can occur when an independent variable impacts an outcome … decreases belief in Republican social causes. If beliefs are learned socially, then aggregation can magnify the connection …
Persistent link: https://www.econbiz.de/10012760183
We study consumption-based asset pricing models which allow for both habit persistence and durability of consumption goods. using quarterly consumption and asset return data for six countries. We estimate the parameters representing habit persistence or durability. risk version and time...
Persistent link: https://www.econbiz.de/10012763507
This paper discusses two simple decompositions for aggregate productivity analysis in the presence of distortions and in general equilibrium. The first is a generalization of Baqaee and Farhi (2017) and the second is due to Petrin and Levinsohn (2012). In the process, we propose a new...
Persistent link: https://www.econbiz.de/10012889959
characteristics. A key decision for researchers in estimating this relationship is the level of aggregation, since the gravity … equation is log linear, whereas aggregation involves summing the level rather than the log level of trade flows. In this paper …
Persistent link: https://www.econbiz.de/10012894434
Despite the clear success of forecast combination in many economic environments, several important issues remain incompletely resolved. The issues relate to selection of the set of forecasts to combine, and whether some form of additional regularization (e.g., shrinkage) is desirable. Against...
Persistent link: https://www.econbiz.de/10012911728
Social network data is often prohibitively expensive to collect, limiting empirical network research. Typical economic network mapping requires (1) enumerating a census, (2) eliciting the names of all network links for each individual, (3) matching the list of social connections to the census,...
Persistent link: https://www.econbiz.de/10012954457
studies using more aggregated data. We demonstrate directly that higher levels of spatial and temporal aggregation generate …
Persistent link: https://www.econbiz.de/10012988518
This paper develops a general theory of aggregation in inefficient economies. We provide non-parametric formulas for …
Persistent link: https://www.econbiz.de/10012943616
We estimate labour supply elasticities at the micro level and show what we can learn from possibly very heterogeneous elasticities for aggregate behaviour. We consider both intertemporal and intratemporal choices, and identify intensive and extensive responses in a consistent life-cycle...
Persistent link: https://www.econbiz.de/10013019870
We develop a framework to estimate the aggregate capital-labor elasticity of substitution by aggregating the actions of individual plants, and use it to assess the decline in labor's share of income in the US manufacturing sector. The aggregate elasticity reflects substitution within plants and...
Persistent link: https://www.econbiz.de/10013047781