Selective attrition out of longitudinal datasets is a concern for empirical researchers. This paper discusses a simple way to identify both direction and magnitude of potential sample bias in household panels. The idea is to exploit multiple types of simultaneous entries into the panel. The...

What effect does rising income inequality have on mortality rates in developed countries? In particular, does the rise of the super-wealthy or the top 0.01% of the population effect overall health of the population? This paper focuses on the effect of rising income inequality on mortality rates...

Stochastic frontier analysis is a popular tool to assess firm performance. Almost universally it has been applied using maximum likelihood estimation. An alternative approach, pseudolikelihood estimation, decouples estimation of the error component structure and the production frontier, has been...

What effect does rising income inequality have on longevity in advanced developed economies? This paper focuses on the effect of income inequality on mortality rates for men and women in a subset of OECD countries over nearly six decades from 1950-2008. Using adult mortality rates at aged...

Linear regression is a powerful tool for investigating the relationships between multiple variables by relating one variable to a set of variables. It can identify the effect of one variable while adjusting for other observable differences. For example, it can analyze how wages relate to gender,...

There is a widespread belief among economists that adding additional variables to a regression model causes higher standard errors. This note shows that, in general, this belief is unfounded and that the impact of adding variables on coefficients' standard errors is unclear. The concept of...

This paper studies nonparametric series estimation and inference for the effect of a single variable of interest x on an outcome y in the presence of potentially high-dimensional conditioning variables z. The context is an additively separable model E[y

This paper examines the co-movement between OPEC (Organization of Petroleum Exporting Countries) oil prices and the six largest African stock markets. We used wavelet coherence to analyze the evolution of this relationship both in time and by frequency. Our results show that the co-movement...

If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely unquantifiable, where do we end up? In this article the author argues that we arrive at a statistical, normative, and cognitive theory of ecological rationality. The main casualty of...

This paper uses an econometric model and Bayesian estimation to reverse engineer the path of inflation expectations implied by the New Keynesian Phillips Curve and the data. The estimated expectations roughly track the patterns of a number of common measures of expected inflation available from...