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Revisiting the great ratios hypothesis
Chudik, Alexander; Pesaran, M. Hashem; Smith, Ron - 2022
The idea that certain economic variables are roughly constant in the long-run is an old one. Kaldor described them as stylized facts, whereas Klein and Kosobud labelled them great ratios. While such ratios are widely adopted in theoretical models in economics as conditions for balanced growth,...
Persistent link: https://www.econbiz.de/10013041372
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Revisiting the great ratios hypothesis
Chudik, Alexander; Pesaran, M. Hashem; Smith, Ron - 2022
Persistent link: https://www.econbiz.de/10013263388
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Trimmed mean group estimation of average treatment effects in ultra short T panels under correlated heterogeneity
Pesaran, M. Hashem; Yang, Liying - 2023
Under correlated heterogeneity, the commonly used two-way fixed effects estimator is biased and can lead to misleading inference. This paper proposes a new trimmed mean group (TMG) estimator which is consistent at the irregular rate of n 1/3 even if the time dimension of the panel is as small as...
Persistent link: https://www.econbiz.de/10014393231
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Infinite Dimensional VARs and Factor Models
Chudik, Alexander; Pesaran, M. Hashem - 2012
that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and … documented by Monte Carlo experiments. An empirical application to modelling of real GDP growth and investment-output ratios … dominant effects are found. The results also suggest that increase in investment as a share of GDP predict higher growth rate …
Persistent link: https://www.econbiz.de/10014219481
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A Duration Model of Irreversible Oil Investment : Theory and Empirical Evidence
Favero, Carlo A. - 2012
The aim of this paper is to analyse the implications of the theory of irreversible investment under uncertainty for … investment in oil fields on the United Kingdom Continental Shelf (UKCS). We consider the problem of an operator who owns a … developed to derive decision rules for the timing of the irreversible development investment and for the optimal rate of …
Persistent link: https://www.econbiz.de/10013116787
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Infinite-dimensional VARs and factor models
Chudik, Alexander; Pesaran, M. Hashem - In: Journal of econometrics 163 (2011) 1, pp. 4-22
Persistent link: https://www.econbiz.de/10009270601
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Infinite-dimensional VARs and factor models
Chudik, Alexander; Pesaran, M. Hashem - 2009
that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …
Persistent link: https://www.econbiz.de/10003831142
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Infinite dimensional VARs and factor models
Chudik, Alexander (contributor);  … - 2007
that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and … documented by Monte Carlo experiments. An empirical application to modelling of real GDP growth and investment-output ratios … dominant effects are found. The results also suggest that increase in investment as a share of GDP predict higher growth rate …
Persistent link: https://www.econbiz.de/10003646695
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Infinite dimensional VARs and factor models
Chudik, Alexander (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003624878
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Infinite dimensional VARs and factor models
Chudik, Alexander (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003596456