Showing 1 - 10 of 355
investigate the performance of stacked DID estimators. We show that the most basic stacked estimator does not identify the target … bias can be eliminated using corrective sample weights. We present a weighted stacked DID estimator, and show that it … correctly identifies the target aggregate, providing justification for using the estimator in applied work …
Persistent link: https://www.econbiz.de/10014468254
Least squares regression with heteroskedasticity consistent standard errors ("OLS-HC regression") has proved very useful in cross section environments. However, several major difficulties, which are generally overlooked, must be confronted when transferring the HC technology to time series...
Persistent link: https://www.econbiz.de/10014576582
Medical journals have adhered to a reporting practice that seriously limits the usefulness of published trial findings. Medical decision makers commonly observe many patient covariates and seek to use this information to personalize treatment choices. Yet standard summaries of trial findings...
Persistent link: https://www.econbiz.de/10013388817
Health expenditure data almost always include extreme values. Such heavy tails can be a threat to the commonly adopted least squares methods. To accommodate extreme values, we propose the use of an estimation method that recovers the often ignored right tail of health expenditure distributions....
Persistent link: https://www.econbiz.de/10014322831
the finite sample performance of the BLP estimator, particularly when using well-targeted summary statistics or "optimal …
Persistent link: https://www.econbiz.de/10014337838
Benchmark finance and macroeconomic models appear to deliver conflicting estimates of the natural rate and bond risk premia. This natural rate puzzle applies not only in the U.S. but across many advanced economies. We use a unified no-arbitrage macro- finance model with two trend factors to...
Persistent link: https://www.econbiz.de/10014421212
We develop an empirical Bayes ranking procedure that assigns ordinal grades to noisy measurements, balancing the information content of the assigned grades against the expected frequency of ranking errors. Applying the method to a massive correspondence experiment, we grade the race and gender...
Persistent link: https://www.econbiz.de/10014528353
parameter can invoke strong assumptions to motivate a restricted estimator that is precise but may be heavily biased, or they … can relax some of these assumptions to motivate a more robust, but variable, unrestricted estimator. When a bound on the … bias of the restricted estimator is available, it is optimal to shrink the unrestricted estimator towards the restricted …
Persistent link: https://www.econbiz.de/10015072848
Econometrica paper that developed what later became known as the Tobit estimator. This golden anniversary milestone provides a … modeling has played in empirical health economics. Of primary focus here is how Tobin's estimator came to be and came to take … root in empirical health economics. The paper provides a brief history of Tobin's estimator and related methods up through …
Persistent link: https://www.econbiz.de/10012464135
This paper uses the marginal treatment effect (MTE) to unify the nonparametric literature on treatment effects with the econometric literature on structural estimation using a nonparametric analog of a policy invariant parameter; to generate a variety of treatment effects from a common...
Persistent link: https://www.econbiz.de/10012467426