This paper attempts to estimate the causal effect of public capital stock on production using Japanese prefectural data. We first articulate the difficulty of consistently estimating the regional-level production function with public capital due to the endogeneity of the public capital stock...

This paper shows that both OLS and Gini regression estimators can be interpreted as weighted averages of slopes of the regression curve, where the weights are derived from the Absolute Lorenz Curve of the independent variable. The instrumental variable estimators, under both approaches, can also...

"We use two sample instrumental variables to estimate intergenerational economic mobility from 1940 to 2000. We find intergenerational mobility increased from 1940 to 1980 but declined sharply thereafter, a pattern similar to cross-sectional inequality trends. However, the returns to education...

This paper reviews recent developments in methods for dealing with weak instruments (IVs) in IV regression models. The focus is more on tests (and confidence intervals derived from tests) than estimators. The paper also presents new testing results under many weak IV asymptotics, which are...

This paper provides a first order asymptotic theory for generalized method of moments (GMM) estimators when the number of moment conditions is allowed to increase with the sample size and the moment conditions may be weak. Examples in which these asymptotics are relevant include instrumental...