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An asymptotic theory for estimation and inference in adaptive learning models with strong mixing regressors and … established. Monte Carlo evidence confirms the accuracy of the asymptotic theory in finite samples …
Persistent link: https://www.econbiz.de/10012849515
This paper provides the tools and procedures for empirically implementing several dominance criteria for social welfare comparisons and broad income inequality comparisons. Dominance criteria are expressed in terms of vectors of quantile ordinates based on income shares or quantile means....
Persistent link: https://www.econbiz.de/10013169202
In this paper we develop theoretical criteria and econometric methods to rank policy interventions in terms of welfare when individuals are loss-averse. The new criterion for "loss aversion-sensitive dominance" defines a weak partial ordering of the distributions of policy-induced gains and...
Persistent link: https://www.econbiz.de/10012835871
In this paper we address the following question: To what extent is the hypothesis that voters vote sincerely testable or falsifiable? We show that using data only on how individuals vote in a single election, the hypothesis that voters vote sincerely is irrefutable, regardless of the number of...
Persistent link: https://www.econbiz.de/10012730974
In this paper we address the following questions: (i) To what extent is the hypothesis that voters vote sincerely testable or falsifiable? And (ii) in environments where the hypothesis is falsifiable, to what extent is the observed behavior of voters consistent with sincere voting? We show that...
Persistent link: https://www.econbiz.de/10012733934
, which contradicts the standard prediction of the agency theory. Furthermore, the estimation of random effect models provides …
Persistent link: https://www.econbiz.de/10012988459
In this paper, we model trade liberalisation as an endogenous process and shed new light on how economic fundamentals like endowments and technology affect potential gains, the welfare effects of liberalisation and its consequences for intra-industry trade. We construct a general equilibrium...
Persistent link: https://www.econbiz.de/10014027728
Persistent link: https://www.econbiz.de/10011287721