Showing 1 - 10 of 7,333
This paper revisits the important ideas proposed by Atkinson and Stiglitz's seminal 1969 paper on technological change. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological change literature, it explains how these three...
Persistent link: https://www.econbiz.de/10012458604
This paper views the standard production function in macroeconomics as a reduced form and derives its properties from microfoundations. The shape of this production function is governed by the distribution of ideas. If that distribution is Pareto, then two results obtain: the global production...
Persistent link: https://www.econbiz.de/10012468236
Technical progress increasingly relies on the use of scientific knowledge. But if much of this knowledge is in the public domain, can it be a source of private value? We find that average private returns to using public science are small, especially in crowded technical fields, consistent with...
Persistent link: https://www.econbiz.de/10012496086
subject to omitted variable bias despite the inclusion of control variables. If the direction of omitted variable bias were … modest than retrospective studies suggest. Bias appears to be reduced by a differences-in-differences estimator that examines …
Persistent link: https://www.econbiz.de/10012470713
A pervasive concern with the use of self-reported health and disability measures in behavioral models is that they are biased and endogenous. A commonly suggested explanation is that survey respondents exaggerate the severity of health problems and incidence of disabilities in order to...
Persistent link: https://www.econbiz.de/10012471248
This paper considers causal inference and sample selection bias in non-experimental settings in which: (i) few units in … treated units and, hence, in alleviating the bias due to systematic differences between the treated and comparison units …
Persistent link: https://www.econbiz.de/10012471982
This paper develops and applies semiparametric econometric methods to estimate the form of selection bias that arises … econometric selection model which represents the bias solely as a function of the probability of participation; and (c) the method … method but find evidence in support of the index-sufficient selection bias model and the assumptions that justify application …
Persistent link: https://www.econbiz.de/10012472114
Intraday interest rates are zero. Consequently, a foreign exchange dealer can short a vulnerable currency in the morning, close this position in the afternoon, and never face an interest cost. This tactic might seem especially attractive in times of crisis, since it suggests an immunity to the...
Persistent link: https://www.econbiz.de/10012473916
empirical results reject the hypothesis that an increase in the upward bias of the schooling coefficient, due to a change in the …
Persistent link: https://www.econbiz.de/10012475313
the spot rate. We use the surveys to decompose the bias into a protion attributable to the risk premium and a portion … attributable to systematic prediction errors. The survey data suggest that our findings of both unconditional and conditional bias …
Persistent link: https://www.econbiz.de/10012477109