Showing 1 - 10 of 31
The ability to allow for flexible forms of unobserved heterogeneity is an essential ingredient in modern microeconometrics. In this paper we extend the application of instrumental variable (IV) methods to a wide class of problems in which multiple values of unobservable variables can be...
Persistent link: https://www.econbiz.de/10010368189
The ability to allow for flexible forms of unobserved heterogeneity is an essential ingredient in modern microeconometrics. In this paper we extend the application of instrumental variable (IV) models to a wide class of problems in which multiple values of unobservable variables can be...
Persistent link: https://www.econbiz.de/10010368234
This paper develops characterizations of identified sets of structures and structural features for complete and incomplete models involving continuous or discrete variables. Multiple values of unobserved variables can be associated with particular combinations of observed variables. This can...
Persistent link: https://www.econbiz.de/10011594354
Individual heterogeneity is an important source of variation in demand. Allowing for general heterogeneity is needed for correct welfare comparisons. We consider general heterogenous demand where preferences and linear budget sets are statistically independent. Only the marginal distribution of...
Persistent link: https://www.econbiz.de/10011445701
not only linear dependence in the same way as the variance ratio statistics of Lo and MacKinlay (1988) but also some … nonlinear dependencies. We derive the asymptotic distribution of the statistics under the null hypothesis that simple gross …
Persistent link: https://www.econbiz.de/10011445716
We develop an equilibrium lifecycle model of education, marriage and labor supply and consumption in a transferable utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and the labor market. They then match based on the...
Persistent link: https://www.econbiz.de/10011445725
We propose several multivariate variance ratio statistics. We derive the asymptotic distribution of the statistics and … alternative hypotheses give opposite predictions with regards to the long run value of the statistics. We apply the methodology to …
Persistent link: https://www.econbiz.de/10011445726
In an attempt to free bootstrap theory from the shackles of asymptotic considerations, this paper studies the possibility of justifying, or validating, the bootstrap, not by letting the sample size tend to infinity, but by considering the sequence of bootstrap P values obtained by iterating the...
Persistent link: https://www.econbiz.de/10011445744
This paper develops characterizations of identified sets of structures and structural features for complete and incomplete models involving continuous and/or discrete variables. Multiple values of unobserved variables can be associated with particular combinations of observed variables. This can...
Persistent link: https://www.econbiz.de/10011445774
Models of simultaneous discrete choice may be incomplete, delivering multiple values of out- comes at certain values of the latent variables and covariates, and incoherent, delivering no val- ues. Alternative approaches to accommodating incompleteness and incoherence are considered in a unifying...
Persistent link: https://www.econbiz.de/10012621086