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Valuing Policy Characteristics and New Products using a Simple Linear Program

Banzhaf, H. Spencer - National Bureau of Economic Research - 2024

The Random Utility Model (RUM) is a workhorse model for valuing new products or changes in public goods. But RUMs have been faulted along two lines. First, for including idiosyncratic errors that imply unreasonably high values for new alternatives and unrealistic substitution patterns. Second,...

Persistent link: https://www.econbiz.de/10015171628

Explaining Returns with Cash-Flow Proxies

Hecht, Peter - 2005

of one-period expected returns and expected-return news. As a result, the R2 from a regression of returns on cash …

Persistent link: https://www.econbiz.de/10012467516

Predicting Volatility : Getting the Most out of Return Data Sampled at Different Frequencies

Ghysels, Eric - 2004

We consider various MIDAS (Mixed Data Sampling) regression models to predict volatility. The models differ in the …

Persistent link: https://www.econbiz.de/10012467773

Pseudo Market Timing and Predictive Regressions

Baker, Malcolm P. - 2004

to predict stock or bond market returns. Recent research argues that these results may be driven by an aggregate time …

Persistent link: https://www.econbiz.de/10012467866

Incentive Effects of Social Assistance : A Regression Discontinuity Approach

Lemieux, Thomas - 2004

on living arrangements using a regression discontinuity approach. We find strong evidence that more generous social … regression discontinuity estimates exhibit little sensitivity to the degree of flexibility in the specification, and perform very …

Persistent link: https://www.econbiz.de/10012468152

Quantile Regression under Misspecification, with an Application to the U.S. Wage Structure

Angrist, Joshua - 2004

Quantile regression(QR) fits a linear model for conditional quantiles, just as ordinary least squares (OLS) fits a … approximation to the conditional expectation function even when the linear model is misspecified. Empirical research using quantile … regression with discrete covariates suggests that QR may have a similar property, but the exact nature of the linear …

Persistent link: https://www.econbiz.de/10012468265

A Meta-Analysis of the Effect of Common Currencies on International Trade

Rose, Andrew - 2004

Thirty-four recent studies have investigated the effect of currency union on trade, resulting in 754 point estimates of the effect. This paper is a quantitative attempt to summarize the current state of debate; meta-analysis is used to combine the disparate estimates. The chief findings are that:...

Persistent link: https://www.econbiz.de/10012468320

Fifty Years of Mincer Earnings Regressions

Heckman, James J. - 2003

general model differ substantially from inferences drawn from estimates based on a Mincer earnings regression. Important …

Persistent link: https://www.econbiz.de/10012468966

Machine Learning for Regularized Survey Forecast Combination : Partially-Egalitarian Lasso and its Derivatives

Diebold, Francis X. - 2018

Despite the clear success of forecast combination in many economic environments, several important issues remain incompletely resolved. The issues relate to selection of the set of forecasts to combine, and whether some form of additional regularization (e.g., shrinkage) is desirable. Against...

Persistent link: https://www.econbiz.de/10012480620

Quasi-Experimental Shift-Share Research Designs

Borusyak, Kirill - 2018

shift-share instrumental variable (SSIV) regression coefficients are equivalently obtained from a transformed regression …

Persistent link: https://www.econbiz.de/10012480650