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We consider inference on optimal treatment assignments. Our methods allow for inference on the treatment assignment rule that would be optimal given knowledge of the population treatment effect in a general setting. The procedure uses multiple hypothesis testing methods to determine a subset of...
Persistent link: https://www.econbiz.de/10013024644
The widely used Oaxaca decomposition applies to linear models. Extending it to commonly used nonlinear models such as … duration models is not straightforward. This paper shows that the original decomposition that uses a linear model can also be … obtained by an application of the mean value theorem. By extension, this basis provides a means of obtaining a decomposition …
Persistent link: https://www.econbiz.de/10012992744
Haavelmo was the first to recognize the capacity of economic models to guide policies. This paper describes some of the barriers that Haavelmo's ideas have had (and still have) to overcome, and lays out a logical framework that has evolved from Haavelmo's insight and matured into a coherent and...
Persistent link: https://www.econbiz.de/10013074723
A specific concept of structural model is used as a background for discussing the structurality of its parameterization. Conditions for a structural model to be also causal are examined. Difficulties and pitfalls arising from the parameterization are analyzed. In particular, pitfalls when...
Persistent link: https://www.econbiz.de/10013011210
The current short paper introduces and discusses a Quantum Filed Theoretic modeling of CDS market. The paper builds upon the novel number operator theoretic set up as fundamental to QFT, recently been extended to financial market modeling (Haven, Khrennikov and Robinson, 2017), and presents a...
Persistent link: https://www.econbiz.de/10012843219
Triple difference has become a widely used estimator in empirical work. A close reading of articles in top economics … journals reveals that the use of the estimator to a large extent rests on intuition. The identifying assumptions are neither … formally derived nor generally agreed on. We give a complete presentation of the triple difference estimator, and show that …
Persistent link: https://www.econbiz.de/10012836186
On the back of new technologies, new data sources are emerging. These are of very high frequency, with greater granularity than traditional sources, and can be accessed across the board, in many cases, by the different economic agents. Such developments open up new avenues and new opportunities...
Persistent link: https://www.econbiz.de/10012864286
further extension of the basic idea: we apply Random Forest (RF) regression to estimate the explained and unexplained parts …
Persistent link: https://www.econbiz.de/10012176055
In the autumn 2017, The Statistical Office of the Republic of Slovenia (SURS) has conducted for the first time a survey on daily passenger mobility of Slovenian residents. The key statistics are on persons' daily traveling habits, such as number of trips, travelled distance, time spent on...
Persistent link: https://www.econbiz.de/10012417622
Financial analysts assume that the reliability of predictions derived from regression analysis improves with sample size. This is generally true because larger samples tend to produce less noisy results than smaller samples. But this is not always the case. Some observations are more relevant...
Persistent link: https://www.econbiz.de/10012225139