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Identification through Heteroskedasticity : Measuring "Contagion
Rigobon, Roberto - 2000
In this paper, I develop a new identification method to solve the problem of simultaneous equations, based on heteroskedasticity of the structural shocks. I show that if the heteroskedasticity can be described as a two-regime process, then the system is just identified under relatively weak...
Persistent link: https://www.econbiz.de/10012471283
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Dummy Endogenous Variables in a Simultaneous Equation System
Heckman, James J. - 1977
This paper considers the formulation and estimation of simultaneous equation models with both discrete and continuous endogenous variables. The statistical model proposed here is sufficiently rich to encompass the classical simultaneous equation model for continuous endogenous variables and more...
Persistent link: https://www.econbiz.de/10012478952
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Investigating the Dynamic Effects of Counterfeits with a Random Changepoint Simultaneous Equation Model
Qian, Yi - 2011
Using a unique panel dataset and a new model, this article investigates the dynamic effects of counterfeit sales on authentic-product price dynamics. We propose a Bayesian random-changepoint simultaneous equation model that simultaneously takes into account three important features in empirical...
Persistent link: https://www.econbiz.de/10012461965
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Recursive Competitive Equilibrium
Mehra, Rajnish - 2006
In this article we define a Recursive Competitive Equilibrium, provide an example and review the related literature. The article is an entry prepared for The New Palgrave: A Dictionary of Economics, 2nd Edition (Palgrave Macmillan: New York)
Persistent link: https://www.econbiz.de/10012466231
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"Aggregation Bias" DOES Explain the PPP Puzzle
Imbs, Jean - 2005
This article summarizes our views on the role of an "aggregation bias" in explaining the PPP Puzzle, in response to the … counter-examples which are not empirically relevant; (ii) simulation results minimizing the extent of "aggregation bias"; (iii … corrections. We conclude, as in our original paper, that "aggregation bias" goes a long way towards explaining the PPP puzzle …
Persistent link: https://www.econbiz.de/10012467070
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Does "Aggregation Bias" Explain the PPP Puzzle?
Chen, Shiu-Sheng - 2004
aggregation bias'. This paper re-examines aggregation bias. First, it clarifies the meaning of aggregation bias and its … that heterogeneity and aggregation bias do not help to solve the PPP puzzle …
Persistent link: https://www.econbiz.de/10012468389
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Is GDP Becoming Obsolete? The "Beyond GDP" Debate
Hulten, Charles R.; Nakamura, Leonard Isamu - National Bureau of Economic Research - 2022
GDP is a closely watched indicator of the current health of the economy and an important tool of economic policy. It has been called one of the great inventions of the 20th Century. It is not, however, a persuasive indicator of individual wellbeing or economic progress. There have been calls to...
Persistent link: https://www.econbiz.de/10013334414
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Incorporating Micro Data into Differentiated Products Demand Estimation with PyBLP
Conlon, Christopher; Gortmaker, Jeff - National Bureau of Economic Research - 2023
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
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Decomposing the great trade collapse : products, prices, and quantities in the 2008-2009 crisis
Haddad, Mona - 2011
"We identify a new set of stylized facts on the 2008-2009 trade collapse that we hope can be used to shed light on the importance of demand and supply-side factors in explaining the fall in trade. In particular, we decompose the fall in international trade into product entry and exit, price...
Persistent link: https://www.econbiz.de/10011395038
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The First Year of the Eurosystem : Inflation Targeting or Not?
Svensson, Lars E.O. - 2000
This paper is a brief evaluation of the Eurosystem's monetary-policy regime after its first year, in particular of the extent to which it is similar to inflation targeting as practiced by an increasing number of central banks. I examine the Eurosystem's goals, framework for monetary-policy...
Persistent link: https://www.econbiz.de/10012470926