Showing 1 - 10 of 37
This paper investigates the relationship between private and public investment in R&D, while taking into account the effect of several instruments policies such as subsidies and taxes. We design a new look of knowledge spillovers and R&D cooperation to explain the contribution of public and...
Persistent link: https://www.econbiz.de/10008791563
We study several tests for the coefficient of the single right-hand-side endogenous variable in a linear equation estimated by instrumental variables. We show that writing all the test statistics—Student's t, Anderson-Rubin, the LM statistic of Kleibergen and Moreira (K), and likelihood ratio...
Persistent link: https://www.econbiz.de/10008793853
We propose a wild bootstrap procedure for linear regression models estimated by instrumental variables. Like other bootstrap procedures that we have proposed elsewhere, it uses efficient estimates of the reduced-form equation(s). Unlike them, it takes account of possible heteroskedasticity of...
Persistent link: https://www.econbiz.de/10008794398
The presence of cross-sectionally correlated error terms invalidates much inferential theory of panel data models. Recently, work by Pesaran (2006) has suggested a method which makes use of cross-sectional averages to provide valid inference in the case of stationary panel regressions with a...
Persistent link: https://www.econbiz.de/10010820521
The presence of cross-sectionally correlated error terms invalidates much inferential theory of panel data models. Recently, work by Pesaran (2006) has suggested a method which makes use of cross-sectional averages to provide valid inference in the case of stationary panel regressions with a...
Persistent link: https://www.econbiz.de/10010899019
Foreign exchange rate plays an important role in international finance. This paper examines unit roots and the long range dependence of 23 foreign exchange rates using Robinson's (1994) test, which is one of the most efficient tests when testing fractional orders of seasonal/cyclical long memory...
Persistent link: https://www.econbiz.de/10010603665
We show that the Wald statistic still identifies a causal effect if instrument monotonicity is replaced by a weaker condition, which states that the potential propensities to be treated with or without the instrument should have the same distribution, conditional on potential outcomes. This...
Persistent link: https://www.econbiz.de/10010738893
This paper estimates the causal effect of perceived job insecurity { i.e. the fear of involuntary job loss { on health in a sample of men from 22 European countries. We rely on an original instrumental variable approach based on the idea that workers perceive greater job security in countries...
Persistent link: https://www.econbiz.de/10011026192
We propose an instrumental variables method for inference in high-dimensional structural equations with endogenous regressors. The number of regressors K can be much larger than the sample size. A key ingredient is sparsity, i.e., the vector of coefficients has many zeros, or approximate...
Persistent link: https://www.econbiz.de/10009021745
In order to test for the effect of public housing occupancy on unemployment, we estimate a simultaneous probit model of unemployment and public housing. On a first sample, we instrument public housing with the gender composition of children. On a second sample, the instrument is the share of...
Persistent link: https://www.econbiz.de/10008790393