We propose a new robust hypothesis test for (possibly nonlinear) constraints on Mestimators with possibly non-differentiable estimating functions. The proposed test employs a random normalizing matrix computed from recursive M-estimators to eliminate the nuisance parameters arising from the...

We propose inverse probability weighted estimators for the local average treatment effect (LATE) and the local average treatment effect for the treated (LATT) under instrumental variable assumptions with covariates. We show that these estimators are asymptotically normal and efficient. When the...

Parents preferring sons tend to go on to have more children un- til one or more boys are born, and to concentrate investment in boys for a given sibsize. Therefore, having a brother may affect child outcomes in two ways: indirectly, by decreasing sibsize, and directly, where sibsize remains...

This paper investigates the time to first birth, treating coresidence with husband's parents and labor supply as endogenous and using representative data on Taiwanese married women born over 1933-1968. We utilize a full information maximum likelihood estimator for a duration model with...

The past 30 years have witnessed lower employment rates and lower hours worked per worker, and thus lower hours worked per person, in Europe relative to the US. European countries have more regulated labor market then the US. This paper envisages the role the labor market regulation plays on the...

Distribution differences in human capital matter for a country’s growth and trade. While the existing literature considers only the diversity difference in talent distribution, we argue that the kurtosis difference is also an important factor. In a two-sector equilibrium growth model, where...

This paper explores the outcome of non-cooperative decision making by elected politicians under transnational externalities. We re-examine the extent of a voter’s incentives for supporting politicians who are less green than the median voter, a phenomenon called “political race to the...

In this paper, we propose a Vuong (1989)-type model selection test for conditional moment inequality models. The test uses a new average generalized empirical likelihood (AGEL) criterion function designed to incorporate full restriction of the conditional model. We also introduce a new...

In one-sector neoclassical growth models, consumption externalities lead to an inefficient allocation in a steady state and indeterminate equilibrium toward a steady state only if there is a labor-leisure tradeoff. This paper shows that in a two-sector neoclassical growth model, even without a...

This paper examines the quantitative interrelations between sectoral composition of public spending and equilibrium (in)determinacy in a two-sector real business cycle model with positive productive externalities in investment. When government purchases of con- sumption and investment goods are...