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Causal Inference from Hypothetical Evaluations
Bernheim, Bert Douglas; Björkegren, Daniel; Naecker, … - National Bureau of Economic Research - 2021
This paper explores methods for inferring the causal effects of treatments on choices by combining data on real choices with hypothetical evaluations. We propose a class of estimators, identify conditions under which they yield consistent estimates, and derive their asymptotic distributions. The...
Persistent link: https://www.econbiz.de/10012794643
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Global Natural Rates in the Long Run : Postwar Macro Trends and the Market-Implied r* in 10 Advanced Economies
Davis, Joshua M.; Fuenzalida, Cristian; Huetsch, Leon; … - National Bureau of Economic Research - 2023
theory and previous findings …
Persistent link: https://www.econbiz.de/10014421212
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Estimating the Return to Schooling : Progress on Some Persistent Econometric Problems
Card, David - 2000
This paper reviews a set of recent studies that have attempted to measure the causal effect of education on labor market earnings by using institutional features of the supply side of the education system as exogenous determinants of schooling outcomes. A simple theoretical model that highlights...
Persistent link: https://www.econbiz.de/10012470981
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A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias
Ashenfelter, Orley - 2000
In this paper we provide an analytical review of previous estimates of the rate of return on schooling investments and measure how these estimates vary by country, over time, and by estimation method. We find evidence reporting (or file drawer') bias in the estimates and, after due account is...
Persistent link: https://www.econbiz.de/10012471319
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Firm-Level Investment in France and the United States : An Exploration of What We Have Learned in Twenty Years
Mairesse, Jacques - 1999
Our two related goals in this paper are the following: Firstly and mainly, we want to examine the effects of major changes in modelling strategy and econometric methodology, over the past twenty years, on estimation of firm-level investment equations using panel data. Secondly, we try to assess...
Persistent link: https://www.econbiz.de/10012471345
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Maximum Likelihood in the Frequency Domain : A Time to Build Example
Christiano, Lawrence J. - 1999
A well known result is that the Gaussian log-likelihood can be expressed as the sum over different frequency components. This implies that the likelihood ratio statistic has a similar linear decomposition. We exploit these observations to devise diagnostic methods that are useful for...
Persistent link: https://www.econbiz.de/10012471773
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Two-way Fixed Effects and Differences-in-Differences Estimators with Several Treatments
Chaisemartin, Clément de; D'Haultfœuille, Xavier - National Bureau of Economic Research - 2022
We study regressions with period and group fixed effects and several treatment variables. Under a parallel trends assumption, the coefficient on each treatment identifies the sum of two terms. The first term is a weighted sum of the effect of that treatment in each group and period, with weights...
Persistent link: https://www.econbiz.de/10012938703
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Probabilistic Prediction for Binary Treatment Choice : with Focus on Personalized Medicine
Manski, Charles F. - National Bureau of Economic Research - 2021
This paper extends my research applying statistical decision theory to treatment choice with sample data, using maximum … in indirect ways, the former applying classical statistical theory and the latter measuring prediction accuracy in test … samples. Neither approach is satisfactory. Statistical decision theory provides a coherent, generally applicable methodology …
Persistent link: https://www.econbiz.de/10012660036
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Top Wealth in America : New Estimates and Implications for Taxing the Rich
Smith, Matthew; Zidar, Owen M.; Zwick, Eric - National Bureau of Economic Research - 2021
This paper uses administrative tax data to estimate top wealth in the United States. We assemble new data that links people to their sources of capital income and develop new methods to estimate the degree of return heterogeneity within asset classes. Disaggregated fixed income data reveal that...
Persistent link: https://www.econbiz.de/10012660052
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One Instrument to Rule Them All : The Bias and Coverage of Just-ID IV
Angrist, Joshua D.; Kolesar, Michal - National Bureau of Economic Research - 2021
Two-stage least squares estimates in heavily over-identified instrumental variables (IV) models can be misleadingly close to the corresponding ordinary least squares (OLS) estimates when many instruments are weak. Just-identified (just-ID) IV estimates using a single instrument are also biased,...
Persistent link: https://www.econbiz.de/10012660095