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Recent literature on panel data emphasizes the importance of accounting for time-varying unobservable individual effects, which may stem from either omitted individual characteristics or macro-level shocks that affect each individual unit differently. In this paper, we propose a simple...
Persistent link: https://www.econbiz.de/10011077606
We study a simple exogeneity test in count data models with possibly endogenous multinomial treatment. The test is based on Two Stage Residual Inclusion 2SRI). Results from a broad Monte Carlo study provide novel evidence on important features of this approach in nonlinear settings. We find...
Persistent link: https://www.econbiz.de/10011086685
We study a simple exogeneity test in count data models with possibly endogenous multinomial treatment. The test is based on Two Stage Residual Inclusion (2SRI). Results from a broad Monte Carlo study provide novel evidence on important features of this approach in nonlinear settings. We find...
Persistent link: https://www.econbiz.de/10010735138
In a paper published in the Journal of Political Economy, Cummings et al. experimentally compare hypothetical and real-money referenda. They reject the incentive compatibility hypothesis of hypothetical referenda. However, in a comment, Haab et al. claim that the hypothesis cannot be rejected if...
Persistent link: https://www.econbiz.de/10005651595
This thesis consists of four papers concerning modelling of count data and tourism demand. For three of the papers the focus is on the integer-valued autoregressive moving average model class (INARMA), and especially on the INAR(1) model. The fourth paper studies the interaction between...
Persistent link: https://www.econbiz.de/10005651973
In this paper, we examine factors influencing the choice between tracking stocks and minority carve-outs and their performances. We expand the research in this field by incorporating a fa ctor that was largely ignored in extant literature: managerial entrenchment. We find that the following...
Persistent link: https://www.econbiz.de/10005585747
In the recent literature there has been an increasing interest in regression models for functional variables. Among these there is the situation where the predictor is a random function and the response a scalar.
Persistent link: https://www.econbiz.de/10005780751
La concentration industrielle n'a cessé d'augmenter ces vingt dernières années. Cette concentration est présente autant chez les producteurs que chez les distributeurs. Par conséquent, analyser le pouvoir de marché est devenu primordial. La mesure du pouvoir de marché nécessite l'analyse...
Persistent link: https://www.econbiz.de/10005827739
In this paper we discuss tests for residual cross section dependence in nonlinear panel data models. The tests are based on average pair-wise residual correlation coefficients. In nonlinear models, the definition of the residual is ambiguous and we consider two approaches: deviations of the...
Persistent link: https://www.econbiz.de/10005703526
In this paper, we run a Monte Carlo analysis of the finite-sample performance of an Information Matrix Test put forward by Smith (1985) for bivariate censored models. We use the bivariate probit model and Heckman selection model as examples.;Approximating the finite-sample distribution of this...
Persistent link: https://www.econbiz.de/10009143693