Showing 1 - 10 of 256
We investigate the evolution of health over the life-cycle. We allow for two sources of persistence: unobserved heterogeneity and state dependence. Estimation indicates that there is a large degree of heterogeneity. For half the population, there are modest degrees of state dependence. For the...
Persistent link: https://www.econbiz.de/10013325252
We analyze the effect of employer-sponsored health insurance premiums on employment and annual wages in the US using a county-level panel dataset for the period 2005-2010. Using variation in medical malpractice payments and variation in medical malpractice legislation over time and within states...
Persistent link: https://www.econbiz.de/10012269141
We explore the practical relevance from a supervisor’s perspective of a popular market-based indicator of the exposure of a financial institution to systemic risk, the Marginal Expected Shortfall (MES). The MES of an institution can be defined as its expected equity loss when the market itself...
Persistent link: https://www.econbiz.de/10010931657
Fractional dependent variables and models with state dependence arise in many economic applications. However, estimating models with fractional dependent variables is complicated by the presence of two corner solution outcomes. When coupled with a dynamic panel data setting, estimating...
Persistent link: https://www.econbiz.de/10014223683
This paper develops a new methodology that makes use of the factor structure of large dimensional panels to understand the nature of non-stationarity in the data. We refer to it as PANIC - a 'Panel Analysis of Non-stationarity in Idiosyncratic and Common components'. PANIC consists of univariate...
Persistent link: https://www.econbiz.de/10014121962
The extant literature using household scanner data to estimate consumer choice models has identified two key sources of bias in estimated mean responses to marketing variables. Omitted heterogeneity may bias mean responses towards zero. At the same time, omitted time-varying characteristics of...
Persistent link: https://www.econbiz.de/10014029864
This paper analyzes data from 107 countries, spanning 1971-2009, and grouped into three income-based panels to determine the direction and sign of panel long-run causality between transport energy consumption per capita and real GDP per capita. The methods employed address heterogeneity and (at...
Persistent link: https://www.econbiz.de/10013062591
This article uses the recent developments in the econometrics of non-stationary dynamic panels to reassess the relationship between external and internal performance measures of the firm. The test of Im, Pesaran and Shin (2003) and the test of Pedroni (2004) were applied on a sample of 420 U.S....
Persistent link: https://www.econbiz.de/10013158793
We examine the (potentially nonlinear) relationship between inequality and growth using a method which does not require an a priori assumption on the underlying functional form. This approach reveals a plateau completely missed by commonly used (nonlinear) parametric approaches - the economy...
Persistent link: https://www.econbiz.de/10010469680
This paper adds to the literature on the income-health gradient by exploring the association of short- and long-term income with a wide set of self-reported health measures and objective nurse-administered and blood-based biomarkers as well as employing estimation techniques that allow for...
Persistent link: https://www.econbiz.de/10011621547