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reporting of polling error has focused solely on sampling error, represented by the margin of error of a poll. Survey … statisticians have long recommended measurement of the total survey error of a sample estimate by its mean square error (MSE), which … jointly measures sampling and non-sampling errors. Extending the conventional language of polling, we think it reasonable to …
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Uncertainty about the riskiness of new financial products was an important factor behind the U.S. credit crisis. We show that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dynamics of a model with a collateral constraint in which agents learn "by...
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