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Using a rich data set on government spending forecasts in Japan, we provide new evidence on the effects of unexpected changes in government spending when the nominal interest rate is near the zero lower bound (ZLB). The on-impact output multiplier is 1.5 in the ZLB period, and 0.6 outside of it....
Persistent link: https://www.econbiz.de/10012014448
conduct simulations and find that the estimation error of the present bias parameter is so large that its effect is difficult …
Persistent link: https://www.econbiz.de/10013472340
In economic discussions, currency board systems are frequently described as arrangements with self-binding character to the monetary authorities by their strict rules and establishments by law. Hard pegs and especially currency boards are often seen as remedies to overcome economic and financial...
Persistent link: https://www.econbiz.de/10011753130
Verwendung der Selektivitätskorrektur der nach der Theorie erwartete positive Effekt des Reservationslohns auf die … by correction for the selectivity bias can the theoretically expected positive effect of reservation wages on the …
Persistent link: https://www.econbiz.de/10010260626
This paper explores the implications of possible bias cancellation using Rubin-style matching methods with complete and … the nature of the missing mechanism. While – contrary to published assertions in the literature – bias cancellation does … not generally occur when the multivariate distribution of the errors is symmetric, bias cancellation has been observed to …
Persistent link: https://www.econbiz.de/10010260764
subjective beliefs on the distribution of returns. However, the bias of these endogenous subjective beliefs induces the choice of …
Persistent link: https://www.econbiz.de/10010261126
processes found in most social-science data, such procedures can induce or exacerbate bias, and even inflate the variance … estimates. We term this source of bias ?Iatrogenic? (or econometrician induced) error. Monte Carlo simulations and empirical …
Persistent link: https://www.econbiz.de/10010261852
Social surveys are often used to estimate unemployment duration distributions. Survey nonresponse may then cause a bias … respondents and non-respondents. We develop a method to empirically distinguish between two explanations for a bias in results … both explanations. We discuss implications for standard methods to deal with non-response bias. …
Persistent link: https://www.econbiz.de/10010262049
Since interventions by the public sector generally commit substantial societal resources, the evaluation of effects and costs of policy interventions is imperative. This paper outlines why program evaluation should follow well-respected scientific standards and why it should be performed by...
Persistent link: https://www.econbiz.de/10010262297
estimates for a number of reasons. Consequently, if we neglect this potential bias in OLS when estimating the gender wage gap …
Persistent link: https://www.econbiz.de/10010262298