Two-stage sampling usually leads to higher variances for estimators of means and regression coefficients, because of intra-cluster homogeneity. One way of allowing for clustering in fitting a linear regression model is to use a linear mixed model with two levels. If the estimated intra-cluster...

Incluye bibliografía ; Este trabajo utiliza datos de panel de olas 2002-2010 del Panel Socioeconómico Alemán, a fin de evaluar el impacto que la privación en términos de renta familiar tiene sobre el bienestar mental. La heterogeneidad no observable está controlada a través de un modelo...

This paper provides new evidence on the influence of macroeconomic environment and institutional quality on stock market development, using data from 14 MENA countries over the period of 1990-2007. Using both panel data and instrumental variable techniques, we find that income level, saving...

The effects of "localized depletion" of a pelagic fishery (herring) on a non-extractive marine activity (tourism) are investigated. Proponents of the localized depletion theory claim that intense fishing effort can lead to areas that are unsuitable for predators like tuna, groundfish, and...

Replaced with revised version of paper 07/24/09.

Replaced with revised version of paper 08/06/10.

Neyman and Scott (1948) define the incidental parameter problem. In panel data with T observations per individual and unobservable individual-specific effects, the inconsistency of the maximum likelihood estimator of the common parameters is in general of the order 1/T. This paper considers the...

Neyman and Scott (1948) define the incidental parameter problem. In panel data with T observations per individual and unobservable individual-specific effects, the maximum likelihood estimator of the common parameters is in general inconsistent. This paper develops the integrated moment...

In dynamic discrete choice analysis, controlling for unobserved heterogeneity is an important issue, and finite mixture models provide flexible ways to account for unobserved heterogeneity. This paper studies nonparametric identifiability of type probabilities and type-specific component...

We analyze the effect of ownership on post-privatization performance in a virtually complete population of medium and large firms privatized in a model large-scale privatization economy (Czech Republic). We find that concentrated foreign ownership improves economic performance, but domestic...