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Econometric Causality : The Central Role of Thought Experiments
Heckman, James J.; Pinto, Rodrigo - National Bureau of Economic Research - 2023
This paper examines the econometric causal model and the interpretation of empirical evidence based on thought experiments that was developed by Ragnar Frisch and Trygve Haavelmo. We compare the econometric causal model with two currently popular causal frameworks: the Neyman-Rubin causal model...
Persistent link: https://www.econbiz.de/10014447266
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Parameter Recovery Using Remotely Sensed Variables
Proctor, Jonathan; Carleton, Tamma A.; Sum, Sandy - National Bureau of Economic Research - 2023
improves statistical coverage with only minor reductions in power in both simple linear regression and panel fixed effects …
Persistent link: https://www.econbiz.de/10013537755
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Incorporating Micro Data into Differentiated Products Demand Estimation with PyBLP
Conlon, Christopher; Gortmaker, Jeff - National Bureau of Economic Research - 2023
the finite sample performance of the BLP estimator, particularly when using well-targeted summary statistics or "optimal …
Persistent link: https://www.econbiz.de/10014337838
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Bootstrap Diagnostics for Irregular Estimators
Andrews, Isaiah; Shapiro, Jesse M. - National Bureau of Economic Research - 2024
misguided decisions. We propose to measure the failure of the conventional normal approximation for a given estimator by the …
Persistent link: https://www.econbiz.de/10014468238
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Adapting to Misspecification
Armstrong, Timothy B.; Kline, Patrick; Sun, Liyang - National Bureau of Economic Research - 2024
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
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Differentiable State-Space Models and Hamiltonian Monte Carlo Estimation
Childers, David; Fernández-Villaverde, Jesús; Perla, Jesse - National Bureau of Economic Research - 2022
We propose a methodology to take dynamic stochastic general equilibrium (DSGE) models to the data based on the combination of differentiable state-space models and the Hamiltonian Monte Carlo (HMC) sampler. First, we introduce a method for implicit automatic differentiation of perturbation...
Persistent link: https://www.econbiz.de/10013435135
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Getting the Right Tail Right : Modeling Tails of Health Expenditure Distributions
Karlsson, Martin; Wang, Yulong; Ziebarth, Nicolas R. - National Bureau of Economic Research - 2023
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
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Credible Numbers : A Procedure for Reporting Statistical Precision in Parameter Estimates
Astier, Nicolas; Wolak, Frank A. - National Bureau of Economic Research - 2024
Econometric software packages typically report a fixed number of decimal digits for coefficient estimates and their associated standard errors. This practice misses the opportunity to use rounding rules that convey statistical precision. Using insights from the testing statistical hypotheses of...
Persistent link: https://www.econbiz.de/10014486216
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Estimating Racial Disparities When Race is Not Observed
McCartan, Cory; Fisher, Robin; Goldin, Jacob; Ho, Daniel E. - National Bureau of Economic Research - 2024
The estimation of racial disparities in various fields is often hampered by the lack of individual-level racial information. In many cases, the law prohibits the collection of such information to prevent direct racial discrimination. As a result, analysts have frequently adopted Bayesian...
Persistent link: https://www.econbiz.de/10014528412
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Estimating the Covariates of Historical Heights
Trussell, James - 1984
purpose of this analysis is to extend our techniques so that the covariates of height can be estimated. Such an extension is …
Persistent link: https://www.econbiz.de/10012477633