Showing 1 - 10 of 427
We propose a generalization of the wild bootstrap of Wu (1986) and Liu (1988) based upon perturbing the scores of M …-estimators. This "score bootstrap" procedure avoids recomputing the estimator in each bootstrap iteration, making it substantially less … costly to compute than the conventional nonparametric bootstrap, particularly in complex nonlinear models. Despite this …
Persistent link: https://www.econbiz.de/10012462529
total variation distance between a bootstrap distribution and the normal distribution parameterized by the point estimate … sample of recent empirical articles that use a bootstrap for inference, we find that the conventional normal approximation is …
Persistent link: https://www.econbiz.de/10014468238
bootstrap procedure for conducting inference about the conditional pricing errors as well as the shapes of the factor loading …
Persistent link: https://www.econbiz.de/10014421243
In this paper, necessary and sufficient conditions for an asset substitution matrix to be symmetric for all distributions of rates of return are derived. It is found that symmetry in this context is essentially equivalent to the proposition that the von Neumann-Morgenstern utility function...
Persistent link: https://www.econbiz.de/10012478559
We provide a general framework for incorporating many types of micro data from summary statistics to full surveys of selected consumers into Berry, Levinsohn, and Pakes (1995)-style estimates of differentiated products demand systems. We extend best practices for BLP estimation in Conlon and...
Persistent link: https://www.econbiz.de/10014337838
We show that the negative impact of financial crises on trade is magnified for destinations with longer time-to-ship. A simple model where exporters react to an increase in the probability of default of importers by increasing their export price and decreasing their export volumes to...
Persistent link: https://www.econbiz.de/10012460386
maritime transport but arrives in destination markets much faster. We model firms' choice between exporting goods using fast …
Persistent link: https://www.econbiz.de/10012460901
greenhouse gas emissions associated with output versus international transportation of traded goods. International transport is … categories like machinery, electronics and transport equipment. US exports intensively make use of air cargo; as a result two …-thirds of its export-related emissions are due to international transport, and US exports by themselves generate a third of …
Persistent link: https://www.econbiz.de/10012461540
The implications of national security related procedures for trade flows at border points in OECD countries has become a major topic of commentary in popular press. We discuss whether the economic costs of border delays are represented solely by time spent in awaiting processing. This has been...
Persistent link: https://www.econbiz.de/10012466372
This paper considers functions of contracting other than the protection of relationship-specific investments and the provision of marginal incentives, and applies the theory to explain variation in the form of compensation of over-the-road truck drivers in the U.S. Specifically, we argue that...
Persistent link: https://www.econbiz.de/10012469856