Showing 1 - 10 of 1,405
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
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
Reputation is critical to foster trust in online marketplaces, yet leaving feedback is a public good that can be under-provided unless buyers are rewarded for it. Signaling theory implies that only high quality sellers would reward buyers for truthful feedback. We explore this scope for...
Persistent link: https://www.econbiz.de/10012983684
We examine the long-term consequences of teacher discretion in grading of high-stakes tests. Bunching in Swedish math test score distributions reveal that teachers inflate students who have “a bad test day,” but do not to discriminate based on immigrant status or gender. By developing a new...
Persistent link: https://www.econbiz.de/10012993229
This paper considers the statistical and economic justification for one widely-used method of adjusting data from social experiments to account for dropping-out behavior due to Bloom (1984). We generalize the method to apply to distributions not just means, and present tests of the key...
Persistent link: https://www.econbiz.de/10013223352
This paper evaluates proposals for an annual wealth tax. While a dozen OECD countries levied wealth taxes in the recent past, now only three retain them, with only Switzerland raising a comparable fraction of revenue as recent proposals for a US wealth tax. Studies of these taxes sometimes, but...
Persistent link: https://www.econbiz.de/10013406269
This paper compares the structural approach to economic policy analysis with the program evaluation approach. It offers …
Persistent link: https://www.econbiz.de/10013142075
The effect of evaluation on employee performance is traditionally studied in the context of the principal-agent problem …. Evaluation can, however, also be characterized as an investment in the evaluated employee's human capital. We study a sample of … mid-career public school teachers where we can consider these two types of evaluation effect separately. Employee …
Persistent link: https://www.econbiz.de/10013128610
advances in the estimation and evaluation of DSGE models, discusses current challenges, and provides avenues for future …
Persistent link: https://www.econbiz.de/10013130259
We find that several recently proposed consumption-based models of stock returns, when evaluated using an optimal set of managed portfolios and the associated model-implied conditional moment restrictions, fail to capture key features of risk premiums in equity markets. To arrive at these...
Persistent link: https://www.econbiz.de/10013137023