Die Öffentlichkeit hat ein Interesse zu wissen, ob politische Maßnahmen die mit ihnen verfolgten Ziele wirksam und wirtschaftlich erreichen. In empirischen Studien, die als Grundlage für evidenzbasierte Wirtschaftspolitik dienen können, werden häufig komplexe Methoden verwendet, um...

The paper proposes two estimation approaches for duration models that are subject to right censored observations and selection effects. Main focus is on accelerated duration models and the estimators that are of the limited information type, i.e. they are not based on a fully specified selection...

The IAB employment subsample is now available for researchers in a third, anonymised version. Following the so-called basic file and the regional file from the IAB employment subsample, which encompassed the years 1975 to 1990, the actualized version of the basic file covers now the years 1975...

In this paper, we develop a modified maximum likelihood (MML) estimator for the multiple linear regression model with underlying student t distribution. We obtain the closed form of the estimators, derive the asymptotic properties, and demonstrate that the MML estimator is more appropriate for...

Numerous research papers have used Irish-only data to test for the presence of an investment gap for small- and medium-sized enterprises (SMEs). In this paper, we use cross country firm-level survey data from the World Bank Enterprise Surveys to explore the investment patterns of Irish SMEs in a...

Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...

Classical regression analysis uses partial coefficients to measure the influences of some variables (regressors) on another variable (regressand). However, a descriptive point of view shows that these coefficients are very bad measures of influence. Their interpretation as an average change of...

This paper constructs the probability space underlying the random variable of any time dependent econometric specification. The construction links concrete economic activity, both perceived and recorded, and econometric formulations. Furthermore, it is argued that the probability events...

Explained variance (R^2) is a familiar summary of the fit of a linear regression and has been generalized in various ways to multilevel (hierarchical) models. The multilevel models we consider in this paper are characterized by hierarchical data structures in which individuals are grouped into...

Various noninformative prior distributions have been suggested for scale parameters in hierarchical models. We construct a new folded-noncentral- t family of conditionally conjugate priors for hierarchical standard deviation parameters, and then consider noninformative and weakly informative...