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A Maximum Likelihood Method for the Incidental Parameter Problem
Moreira, Marcelo - 2008
This paper uses the invariance principle to solve the incidental parameter problem. We seek group actions that preserve the structural parameter and yield a maximal invariant in the parameter space with fixed dimension. M-estimation from the likelihood of the maximal invariant statistic yields...
Persistent link: https://www.econbiz.de/10012464860
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Forming Priors for DSGE Models (and How it Affects the Assessment of Nominal Rigidities)
Del Negro, Marco - 2008
The paper discusses prior elicitation for the parameters of dynamic stochastic general equilibrium (DSGE) models, and provides a method for constructing prior distributions for a subset of these parameters from beliefs about the moments of the endogenous variables. The empirical application...
Persistent link: https://www.econbiz.de/10012464907
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Vector Multiplicative Error Models : Representation and Inference
Cipollini, Fabrizio - 2006
The Multiplicative Error Model introduced by Engle (2002) for positive valued processes is specified as the product of a (conditionally autoregressive) scale factor and an innovation process with positive support. In this paper we propose a multi-variate extension of such a model, by taking into...
Persistent link: https://www.econbiz.de/10012465970
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Optimal Automatic Stabilizers
McKay, Alisdair - 2016
Should the generosity of unemployment benefits and the progressivity of income taxes depend on the presence of business cycles? This paper proposes a tractable model where there is a role for social insurance against uninsurable shocks to income and unemployment, as well as inefficient business...
Persistent link: https://www.econbiz.de/10012456317
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Stereotypes
Bordalo, Pedro - 2014
We present a model of stereotypes in which a decision maker assessing a group recalls only that group's most representative or distinctive types relative to other groups. Because stereotypes highlight differences between groups, and neglect likely common types, they are especially inaccurate...
Persistent link: https://www.econbiz.de/10012458558
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How to Solve Dynamic Stochastic Models Computing Expectations Just Once
Judd, Kenneth L. - 2011
We introduce a technique called "precomputation of integrals" that makes it possible to compute conditional expectations in dynamic stochastic models in the initial stage of the solution procedure. This technique can be applied to any set of equations that contains conditional expectations, in...
Persistent link: https://www.econbiz.de/10012461240
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Born in the Family : Preferences for Boys and the Gender Gap in Math
Dossi, Gaia - 2019
We study the correlation between parental gender attitudes and the performance in mathematics of girls using two … when we study the correlations between girls' performance in mathematics and maternal gender role attitudes, using evidence … the observed gender disparities in mathematics performance and document that maternal gender attitudes correlate with …
Persistent link: https://www.econbiz.de/10012479490
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Scientific Education and Innovation : From Technical Diplomas to University STEM Degrees
Bianchi, Nicola - 2019
This paper studies the effects of university STEM education on innovation and labor market outcomes by exploiting a change in enrollment requirements in Italian STEM majors. University-level scientific education had two direct effects on the development of patents by students who had acquired a...
Persistent link: https://www.econbiz.de/10012479878
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Are Foreign Stem PhDs More Entrepreneurial? Entrepreneurial Characteristics, Preferences and Employment Outcomes of Native and Foreign Science & Engineering PhD Students
Roach, Michael - 2019
Prior research has shown that immigrants make important contributions to US innovation and are more likely than natives to become entrepreneurs. However, there is little evidence on how foreign and native high-skilled workers differ prior to entering the workforce. Moreover, little attention has...
Persistent link: https://www.econbiz.de/10012480169
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Dynamics of the Gender Gap in High Math Achievement
Ellison, Glenn - 2018
the American Mathematics Competition. A clear gender gap is already present by 9th grade and the gender gap widens over …
Persistent link: https://www.econbiz.de/10012480565