Ashenfelter and Krueger's (1993) within-twin, measurement-error- corrected estimate of the return to schooling is about 13-16 percent. If their estimate is unbiased, then their results imply considerable downward measurement error bias in uncorrected within-twin estimates of the return to...

This paper is concerned with the estimation of the parameters in a dynamic simultaneous equation model with stationary disturbances under the assumption that the variables are subject to random measurement errors. The conditions under which the parameters are identified are stated. An...

This paper assesses the small sample properties of Generalized Method of Moments (GMM) based Wald statistics. The analysis is conducted assuming that the data generating process corresponds to (i) a simple vector white noise process and (ii) an equilibrium business cycle model. Our key findings...

This paper suggests and examines a straightforward diagnostic test procedure that 1) provides numerical indexes whose magnitudes signify the presence of one or more near dependencies among columns of a data matrix X, and 2) provides a means for determining, within the linear regression model,...

This paper develops tests for the correct specification of the conditional variance function in GARCH models when the true parameter may lie on the boundary of the parameter space. The test statistics considered are of Kolmogorov-Smirnov and Cramér-von Mises type, and are based on a certain...

This article analyzes the steps to solve economic problems using multivariate regression and correlation methods. The paper has mathematical modelling of the economic problems and the solutions with different parameters

This paper develops asymptotic distribution theory for instrumental variable regression when the partial correlation between the instruments and a single included endogenous variable is weak, here modeled as local to zero. Asymptotic representations are provided for various instrumental variable...

Different local projection (LP) estimators for structural impulse responses of proxy vector autoregressions are reviewed and compared algebraically andwith respect to their small sample suitability for inference. Conditions for numerical equivalence and similarities of some estimators are...

I consider estimation of the average treatment effect (ATE), in a population composed of $G$ groups, when one has unbiased and uncorrelated estimators of each group's conditional average treatment effect (CATE). These conditions are met in stratified randomized experiments. I assume that the...

The possible endogeneity of labor and capital in production functions, and the consequent bias of the estimated elasticities, has been discussed and addressed in the literature in different ways since the 1940s. This paper revisits an argument first outlined in the 1950s, which questioned...