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Persistent link: https://www.econbiz.de/10002888515
In the framework of the median voter theorem, an ideologically driven candidate can fully alter policy when running against a vote-maximizing oponent. When turnout is allowed to depend on the relative positioning of the ideal points of the candidates relative to the voter, this result need not...
Persistent link: https://www.econbiz.de/10005837683
This book discusses the nature of exogeneity - a central concept in econometrics - and shows how to test for it through numerous substantive empirical examples. Part I considers what exogeneity is and how it can be tested. Part II contains applications to models of expenditure, money demand,...
Persistent link: https://www.econbiz.de/10009144812
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Persistent link: https://www.econbiz.de/10005796515
Cross-country regressions explaining output growth often obtain a negative effect from inflation. However, that result is not robust, due to the selection of countries in sample, temporal aggregation, and omission of consequential variables in levels. This paper demonstrates some implications of...
Persistent link: https://www.econbiz.de/10005368216
This paper investigates the empirical relevance of the Lucas critique. A database is constructed of all articles in the Social Science Citation Index that cite Lucas (1976). Those articles are characterized by the nature of the article, the context in which Lucas (1976) is cited, and the...
Persistent link: https://www.econbiz.de/10005498769
Persistent link: https://www.econbiz.de/10005244061
Cross-country regressions explaining output growth often obtain a negative effect from inflation. However, that result is not robust, due to the selection of countries in sample, temporal aggregation, and omission of consequential variables in levels. This paper demonstrates some implications of...
Persistent link: https://www.econbiz.de/10005252049