Building on a recently developed methodology for sensitivity analysis that parametrizes omitted variable bias in terms of partial R2 measures, I propose a simple statistic to capture the severity of omitted variable bias in any observational study: the probability of omitted variable bias...

In economics, it is common to use dimensioned variables, e.g. earnings (measured in dollars per year), as arguments in the logarithmic function. This is conceptually problematic because a logarithmic function can only take dimensionless quantities as its argument. One way to avoid this...

Covariate benchmarking is an important part of sensitivity analysis about omitted variable bias and can be used to bound the strength of the unobserved confounder using information and judgments about observed covariates. It is common to carry out formal covariate benchmarking after...

In this paper, I discuss three aspects of the Frisch-Waugh-Lovell theorem. First, I show that the theorem holds for linear instrumental variables estimation of a multiple regression model that is either exactly or overidentified. I show that with linear instrumental variables estimation: (a)...

Covariate benchmarking is an important part of sensitivity analysis about omitted variable bias and can be used to bound the strength of the unobserved confounder using information and judgments about observed covariates. It is common to carry out formal covariate benchmarking under the...

I discuss some theoretical and empirical points about the Goodwin model. First, I offer a simple proof that solution trajectories around the stable critical point in the Goodwin model are closed orbits but not limit cycles. Moreover, in a neighborhood of the stable critical point, the closed...

I study the effect of technical change on the equilibrium profit rate in Classical-Marxian models of economic growth with alternative closures. In each model, capitalists adopt a new technique of production only if it will increase the profit rate given their expectations about the movement of...