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Uniform Theory for CCE under Heterogeneous Slopes and General Unknown Factors
Stauskas, Ovidijus - 2021
A recent study proposed by Westerlund (CCE in Panels with General Unknown Factors, Econometrics Journal, 21, 264-276, 2018) showed that a very popular Common Correlated Effects (CCE) estimator is significantly more applicable than it was thought before. Contrary to the usual stationarity...
Persistent link: https://www.econbiz.de/10013208900
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A heterogeneity analysis of the Bolsa Família Programme effect on men and women's work supply
Teixeira, Clarissa Gondim - 2010
This article analyses the impact of the Programa Bolsa Família (PBF), Brazil's Conditional Cash Transfer Programme), by way of an income shock on the labour supply of beneficiaries as measured by probability of working and number of weekly hours worked by both men and women. Bolsa Família...
Persistent link: https://www.econbiz.de/10010293288
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Estimating a semi-parametric duration model without specifying heterogeneity
Hausman, Jerry A.; Woutersen, Tiemen M. - 2005
This paper presents a new estimator for the mixed proportional hazard model that allows for a nonparametric baseline hazard and time-varying regressors. In particular, this paper allows for discrete measurement of the durations as happens often in practice. The integrated baseline hazard and all...
Persistent link: https://www.econbiz.de/10010293475
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The ambiguity triangle: Uncovering fundamental patterns of behavior under uncertainty
Burghart, Daniel R.; Epper, Thomas; Fehr, Ernst - 2015
test for a constant ambiguity attitude. Yet, among these 60% of subjects there is substantial preference heterogeneity. We … characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 … preference heterogeneity for these subjects. We show that for a substantial share of these subjects (43%) their fanning-in is so …
Persistent link: https://www.econbiz.de/10011420561
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A Model of Union Formation
Westermark, Andreas - 1999
changes in heterogeneity, e.g. increased demand for skilled labor, are also analyzed. In the most reasonable setup, a change … in heterogeneity does not affect the decision whether to form a union or not. This contrasts with the result in Jun (1989). …
Persistent link: https://www.econbiz.de/10010321711
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Heterogeneous convergence
Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel - 2013
We use U.S. county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity …
Persistent link: https://www.econbiz.de/10010335973
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Group specific public goods, orchestration of interest groups and free riding
Epstein, Gil S.; Mealem, Yosef - 2009
We consider a two group contest over a group specific public good where each member of a group has a different benefit from the good. Our model can be interpreted in two ways: Each of the players has a non-linear investment cost in the contest, or alternatively, the returns to effort are...
Persistent link: https://www.econbiz.de/10010336001
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Bubbles and Leverage: A simple and unified approach
Barsky, Robert; Bogusz, Theodore - 2013
In this paper, we lay out a simple framework that captures much of what the theoretical literature has to say about the role of credit in systemically important asset booms and busts. In addition, we suggest ways in which to incorporate physical investment in the bubble asset as well as monetary...
Persistent link: https://www.econbiz.de/10010352177
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Mental capabilities, trading styles, and asset market bubbles: Theory and experiment
Hefti, Andreas; Heinke, Steve; Schneider, Frédéric - 2016
We propose that heterogeneous asset trading behavior is the result of two distinct, non-convertible mental dimensions: analytical ("quantitative") capability and mentalizing ("perspective-taking") capability. We develop a framework of mental capabilities that yields testable predictions about...
Persistent link: https://www.econbiz.de/10011663193
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Distributional comparative statics with heterogeneous agents
Hefti, Andreas - 2016
We propose a formal way to systematically study the differential effects of exogenous shocks in economic models with heterogeneous agents. Our setting applies to models that can be rephrased as "competition for market shares" in a broad sense. We show that even in presence of any number of...
Persistent link: https://www.econbiz.de/10011663196