In this paper, we show how instrumental variable and matching estimators can be combined in order to identify a broader array of treatment effects. Instrumental variable estimators are known to estimate effects only for the compliers, which often represent only a small subset of the entire...

This paper develops a general equilibrium model with safe and risky jobs where unemployment is concentrated in a highly productive but volatile sector. Frictional unemployment arises in the process of job creation, firing and retraining for alternative employment. The paper derives an optimal...

We propose a simple but effective estimation procedure to extract the level and the volatility dynamics of a latent macroeconomic factor from a panel of observable indicators. Our approach is based on a multivariate conditionally heteroskedastic exact factor model that can take into account the...

It is widely believed that HIV is predominantly sexually transmitted in Sub Saharan Africa. This claim which is inconsistent with national representative data from Lesotho, Zimbabwe, and Swaziland, which reveals that a significant proportion of HIV infections occurred in adolescents who claim to...

Consistency of propensity score matching estimators hinges on the propensity score's ability to balance the distributions of covariates in the pools of treated and nontreated units. Conventional balance tests merely check for differences in covariates' means, but cannot account for differences...

We investigate the finite sample properties of a large number of estimators for the average treatment effect on the treated that are suitable when adjustment for observable covariates is required, like inverse pro¬bability weighting, kernel and other variants of matching, as well as different...