We propose new over-identifying restriction (OIR) tests that are robust to heteroskedasticity and serial correlations of unknown form. The proposed tests do not require consistent estimation of the asymptotic covariance matrix and hence avoid choosing the bandwidth in nonparametric kernel...

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學術期刊創始於十七世紀末，當時發表研究成果最普遍方法是印刷書籍，但書 籍列印受限於出版技術非常曠日廢時，以期刊替代專書來發表研究成果，有助於加速新 知識的公開與傳遞。然而，曾任Econometrica 主編的Ellison...

Evidence indicates that consumer durables are more flexibly priced than nondurable goods and services. In otherwise standard two-sector neoclassical sticky-price models with flexible durable prices, following monetary tightening, nondurables decrease but consumer durables increase. Friction in...

「市場經濟力量很巨大」是經濟學家普遍同意的一項重要的「經濟原理」。經濟 學教科書，簡單的說，是以「放手讓所有可增進交易雙方利益的自願性交易的順利進行...

Policy evaluations require estimation of program impacts on both mean and dispersion of potential outcomes, even though the previous identication eorts have focused mostly on impacts on the mean. We propose the use of instrumental variables and pairwise matching to identify the average treatment...