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Causality and econometrics
Heckman, James J.; Pinto, Rodrigo - 2022
This paper examines the econometric causal model for policy analysis developed by the seminal ideas of Ragnar Frisch and Trygve Haavelmo. We compare the econometric causal model with two popular causal frameworks: Neyman-Holland causal model and the do-calculus. The Neyman-Holland causal model...
Persistent link: https://www.econbiz.de/10012886838
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Understanding firms' inflation expectations using the Bank of Canada's Business Outlook Survey
Richards, Simon; Verstraete, Matthieu - 2016
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10011540769
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The estimation of multi-dimensional fixed effects panel data models
Balazsi, Laszlo; Mátyás, László; Wansbeek, Tom - 2015
The paper introduces the appropriate within estimators for the most frequently used three-dimensional fixed effects panel data models. It analyzes the behavior of these estimators in the cases of no self-flow data, unbalanced data, and dynamic autoregressive models. The main results are then...
Persistent link: https://www.econbiz.de/10010492323
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The behavior of uncertainty and disagreement and their roles in economic prediction : a panel analysis
Rich, Robert W.; Tracy, Joseph S. - 2017
This paper examines point and density forecasts from the European Central Bank's Survey of Professional Forecasters. We derive individual uncertainty measures along with individual point- and density-based measures of disagreement. We also explore the relationship between uncertainty and...
Persistent link: https://www.econbiz.de/10011604042
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Dynamic hierarchical factor models
Mönch, Emanuel; Ng, Serena; Potter, Simon M. - 2009
This paper uses multi-level factor models to characterize within- and between-block variations as well as idiosyncratic noise in large dynamic panels. Block-level shocks are distinguished from genuinely common shocks, and the estimated block-level factors are easy to interpret. The framework...
Persistent link: https://www.econbiz.de/10003948200
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The empirics of regulatory reforms proxied by categorical variables : recent findings and methodological issues
Bastianin, Andrea; Castelnovo, Paolo; Florio, Massimo - 2017
Some regulatory reforms do not change just a specific signal that can be represented by a quantitative continuous variable, such as a tax rate, a price cap, or an emission threshold. The standard theory of reform in applied welfare economics (going back to contributions by e.g. Ramsey, Samuelson...
Persistent link: https://www.econbiz.de/10011644120
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Pobreza, deforestación y pérdida de la biodiversidad en Guatemala : un análisis empírico y algunas sugerencias de política económica
Löning, Ludger J.; Markussen, Michael - 2003
Poverty, Deforestation and Biodiversity Loss in Guatemala. This paper explores the causes of deforestation and biodiversity loss in Guatemala and is organized into 4 parts. First, an overview about deforestation in Guatemala from 1950-2000 is provided, and the relationship between deforestation...
Persistent link: https://www.econbiz.de/10011518228
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Thirty years of heteroskedasticity-robust inference
MacKinnon, James G. - 2011
White (1980) marked the beginning of a new era for inference in econometrics. It introduced the revolutionary idea of …
Persistent link: https://www.econbiz.de/10009127144
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On the reception of Haavelmo's econometric thought
Hoover, Kevin D. - 2012
Trygve Haavelmo's The Probability Approach in Econometrics (1944) has been widely regarded as the foundation document … of modern econometrics. Nevertheless, its significance has been interpreted in widely different ways. Some modern … techniques and a close reading of econometrics articles and textbooks to trace the way in which the economics profession received …
Persistent link: https://www.econbiz.de/10011708115
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Ragnar Frisch's axiomatic approach to econometrics
Bjerkholt, Olav - 2012 - Published Aug 28, 2012 12:34 PM
Ragnar Frisch's concept of econometrics was broader in scope than the more restricted connotation it has today as a sub …
Persistent link: https://www.econbiz.de/10009581438