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Two classes of multiplicative bias correction (“MBC”) methods are applied to density estimation with support on [0,∞). It is demonstrated that under sufficient smoothness of the true density, each MBC technique reduces the order of magnitude in bias, whereas the order of magnitude in...
Persistent link: https://www.econbiz.de/10011056442
This paper proposes an asymmetric kernel-based method for nonparametric estimation of scalar diffusion models of spot interest rates. We derive the asymptotic theory for the asymmetric kernel estimators of the drift and diffusion functions for general and positive recurrent processes and...
Persistent link: https://www.econbiz.de/10010942988
Policy makers typically interpret positive relations between venture capital investments and innovations as an evidence that venture capital investments stimulate innovation ('VC-first hypothesis'). This interpretation is, however, one-sided because there may be a reverse causality that...
Persistent link: https://www.econbiz.de/10005666846
This paper demonstrates that two classes of multiplicative bias correction (MBC) techniques, originally proposed for density estimation using symmetric second-order kernels by Terrell and Scott (1980) and Jones et al. (1995), can be applied to density estimation using the beta and modified...
Persistent link: https://www.econbiz.de/10008484597
For the sample period of 1965-1992, Kortum and Lerner (2000) find that venture capital (VC) investments have a positive impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this positive impact continued to be present and became even...
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This paper investigates how bandwidth choice rules in long-run variance estimation affect finite-sample performance of efficient estimators for cointegrating regression models. Monte Carlo results indicate that Hirukawa's (2010) bandwidth choice rule contributes bias reduction in the estimators.
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