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The singularity of the efficiency bound of the mixed proportional hazard model

Ridder, Geert; Woutersen, Tiemen - 2001

We reconsider the efficiency bound for the semi-parametric Mixed Proportional Hazard (MPH) model with parametric baseline hazard and regression function. This bound was first derived by Hahn (1994). One of his results is that if the baseline hazard is Weibull, the efficiency bound is singular,...

Persistent link: https://www.econbiz.de/10010291982

The singularity of the information matrix of the mixed proportional hazard model

Ridder, Geert; Woutersen, Tiemen - 2002

Elbers and Ridder (1982) identify the Mixed Proportional Hazard model by assuming that the heterogeneity has finite mean. Under this assumption, the information matrix of the MPH model may be singular. Moreover, the finite mean assumption cannot be tested. This paper proposes a new...

Persistent link: https://www.econbiz.de/10010292025

Technology shocks, employment, and labor market frictions

Mandelman, Federico S.; Zanetti, Francesco - 2008

Recent empirical evidence suggests that a positive technology shock leads to a decline in labor inputs. However, the standard real business cycle model fails to account for this empirical regularity. Can the presence of labor market frictions address this problem without otherwise altering the...

Persistent link: https://www.econbiz.de/10010292305

The insider-outsider theory: a survey

Lindbeck, Assar; Snower, Dennis J. - 2002

This article is an idiosyncratic survey of the insider-outsider theory, describing the vision underlying the theory … been dead-ends and red herrings in past research. The first section deals with the theory, concerning how labor turnover … shocks. The second section deals with the insider-outsider theory in relation to two important economic institutions: unions …

Persistent link: https://www.econbiz.de/10010292491

Falling trade costs, heterogeneous firms and industry dynamics

Bernard, Andrew Barnes; Jensen, J. Bradford; Schott, … - 2003

This paper examines the response of industries and firms to changes in trade costs. Several new firm-level models of international trade with heterogeneous firms predict that industry productivity will rise as trade costs fall due to the reallocation of activity across plants within an industry....

Persistent link: https://www.econbiz.de/10010292937

Social experiments and instrumental variables with duration outcomes

Abbring, Jaap; van den Berg, Gerard - 2005

This paper examines the empirical analysis of treatment effects on duration outcomes from data that contain instrumental variation. We focus on social experiments in which an intention to treat is randomized and compliance may be imperfect. We distinguish between cases where the treatment starts...

Persistent link: https://www.econbiz.de/10010293007

A nonparametric test for seasonal unit roots

Kunst, Robert M. - 2009

We consider a nonparametric test for the null of seasonal unit roots in quarterly time series that builds on the RUR (records unit root) test by Aparicio, Escribano, and Sipols. We find that the test concept is more promising than a formalization of visual aids such as plots by quarter. In order...

Persistent link: https://www.econbiz.de/10010294023

Technology Shocks and Employment in Open Economies

Tervala, Juha - 2007

A growing body of empirical evidence suggests that a positive technology shock leads to a temporary decline in employment. A two-country model is used to demonstrate that the open economy dimension can enhance the ability of sticky price models to account for the evidence. The reasoning is as...

Persistent link: https://www.econbiz.de/10010295248

Technology Shocks and Employment in Open Economies

Tervala, Juha - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-15, pp. 1-27

Persistent link: https://www.econbiz.de/10010295298

Semiparametric Approaches to the Prediction of Conditional Correlation Matrices in Finance

Herwartz, Helmut; Golosnoy, Vasyl - 2007

We consider the problem of ex-ante forecasting conditional correlation patterns using ultra high frequency data. Flexible semiparametric predictors referring to the class of dynamic panel and dynamic factor models are adopted for daily forecasts. The parsimonious set up of our approach allows to...

Persistent link: https://www.econbiz.de/10010296287

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