Using a unique panel dataset and a new model, this article investigates the dynamic effects of counterfeit sales on authentic-product price dynamics. We propose a Bayesian random-changepoint simultaneous equation model that simultaneously takes into account three important features in empirical...

Economics researchers often assume that random variables are drawn from distributions that are members of scale or location-scale families of distributions. This article generalizes earlier results in the literature on the bias in least squares estimates of multiplicative error models, and uses...

This paper explores firm growth rate distribution in a Gibrat's Law context. It is novel in two respects. First, rather than limiting the analysis to a focus on the conditional mean, we investigate the entire shape of the distribution. Second, we show that differences in the firm growth rate...

Using miscarriage as an instrument for birth suffers from a censoring problem created by the fact that women wanting the pregnancy to end in an abortion frequently pre-empt an "assigned" miscarriage. I describe evidence that this problem is severe, creates a significant bias in IV estimates, and...