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Analysis of the Monetary Transmission Mechanism : Methodological Issues

McCallum, Bennett T. - 1999

This paper argues that, in studying the monetary policy transmission process, more emphasis should be given to the systematic portion of policy behavior and correspondingly less to random shocks basically because shocks account for a very small fraction of policy-instrument variability. Analysis...

Persistent link: https://www.econbiz.de/10012471390

Does Anticipated Aggregate Demand Policy Matter? Further Econometric results

Mishkin, Frederic S. - 1981

A heated debate has arisen over what Modigliani has dubbed the Macro Rational Expections (MRE) hypothesis. This hypothesis embodies two component hypotheses: 1) rational expectations and 2) short-run neutrality -- i.e., that anticipated changes in aggregate demand will have already been taken...

Persistent link: https://www.econbiz.de/10012478324

Econometrics For Decision Making : Building Foundations Sketched By Haavelmo And Wald

Manski, Charles F. - 2019

initiated his own seminal development of statistical decision theory. Haavelmo favorably cited Wald, but econometrics … subsequently did not embrace statistical decision theory. Instead, it focused on study of identification, estimation, and … statistical inference. This paper proposes statistical decision theory as a framework for evaluation of the performance of models …

Persistent link: https://www.econbiz.de/10012480540

An Instrumental Variable Approach to Dynamic Models

Berry, Steven T. - 2020

We present a new class of methods for identification and inference in dynamic models with serially correlated unobservables, which typically imply that state variables are econometrically endogenous. In the context of Industrial Organization, these state variables often reflect econometrically...

Persistent link: https://www.econbiz.de/10012481304

Insider Econometrics : Empirical Studies of How Management Matters

Ichniowski, Casey - 2009

This research approach, which we term insider econometrics, addresses these questions by combining insights from industry insiders with rigorous econometric tests about the adoption and productivity effects of new management practices using rich industry-specific data. Understanding the...

Persistent link: https://www.econbiz.de/10012463034

Recent Developments in the Econometrics of Program Evaluation

Imbens, Guido M. - 2008

Many empirical questions in economics and other social sciences depend on causal effects of programs or policiy interventions. In the last two decades much research has been done on the econometric and statistical analysis of the effects of such programs or treatments. This recent theoretical...

Persistent link: https://www.econbiz.de/10012464396

Econometric Models of Limit-Order Executions

Lo, Andrew W. - 1997

This paper attempts to assess whether money can generate persistent economic" fluctuations in dynamic general equilibrium models of the business cycle. We show that a small" nominal friction in the goods market can make the response of output to monetary shocks large" and persistent if it is...

Persistent link: https://www.econbiz.de/10012472554

R&D Productivity : A Survey of Econometric Studies at the Firm Level

Mairesse, Jacques - 1991

This paper surveys econometric studies investigating the relationship between R&D and productivity at the firm level and assesses the results obtained so far and some of the problems encountered. The findings reviewed fall naturally into three major categories: based on the cross-sectional or...

Persistent link: https://www.econbiz.de/10012475350

Econometrics and the Design of Economic Reform

Bruno, Michael - 1988

The concept of Economic Reform is described as a planned shift from one, Pareto inefficient, but quasi-stable, equilibrium (or 'trap') to a new Pareto superior equilibrium which is, or is designed to become, stable too. The concept is applied to recent 'shock' stabilization programs, with...

Persistent link: https://www.econbiz.de/10012476343

Quantifier Elimination for Deduction in Econometrics

Mulligan, Casey B. - 2018

When combined with the logical notion of partially interpreted functions, many nonparametric results in econometrics and statistics can be understood as statements about semi-algebraic sets. Tarski's quantifier elimination (QE) theorem therefore guarantees that a universal algorithm exists for...

Persistent link: https://www.econbiz.de/10012453116

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