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We provide a test for the specification of a structural model without identifying assumptions. We show the equivalence of several natural formulations of correct specification, which we take as our null hypothesis. From a natural empirical version of the latter, we derive a Kolmogorov-Smirnov...
Persistent link: https://www.econbiz.de/10005344584
The global campaign to eradicate malaria, launched in 1955 and phased out by the end of the 1960s, has been dubbed a misguided failure. Although the campaign did not come close to achieving its headline objective of eradicating malaria, it did lead to enormous and sustained reductions in the...
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This paper deals with a special case of estimation with grouped data, where the dependent variable is only available for groups, whereas the endogenous regressor(s) is available at the individual level. In this situation, the solution adopted by researchers is to aggregate the individual data...
Persistent link: https://www.econbiz.de/10005344588
Neoclassical Political Economy applies the concepts and techniques of Neoclassical Analysis to elucidate the interrelations between the Economy, the Polity and the State. The basic issues at hand were clearly stated by the social thinkers of the 17th, 18th and 19th Centuries., often referred to...
Persistent link: https://www.econbiz.de/10005344589
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A contract with multiple agents may be susceptible to collusion. We show that agents' collusion imposes no cost in a large class of circumstances with risk neutral agents, including both uncorrelated and correlated types. In those circumstances, any payoff the principal can attain in the absence...
Persistent link: https://www.econbiz.de/10005344591
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