Young Lives is a longitudinal research project investigating the changing nature of childhood poverty. The study is tracking the development of 12,000 children in Ethiopia, Peru, India (Andhra Pradesh) and Vietnam through qualitative and quantitative research over a 15-year period. Since 2002,...

Understanding factors affecting the direction of innovation is a central aim of research in the economics of innovation. Progress on this topic has been inhibited by difficulties in measuring distance and movement in knowledge space. We describe a methodology that infers the mapping of the...

The theoretical literature gives conflicting predictions on how bank competition should affect financial stability, and dozens of researchers have attempted to evaluate the relationship empirically. We collect 598 estimates of the competition-stability nexus reported in 31 studies and analyze...

This paper estimates consumer demand for firearms with the aim of predicting the likely impacts of firearm regulations on the number and types of guns in circulation. We first conduct a stated-choice-based conjoint analysis and estimate an individual-level demand model for firearms. We validate...

This paper discusses regression models with aggregated covariate data. Reparameterized likelihood function is found to be separable when one endogenous variable corresponds to one instrument. In that case, the full-information maximum likelihood estimator has an analytic form, and thus...

Using Bayesian maximum likelihood and data for Portugal, I estimate a New Keynesian DSGE model allowing for the presence of non-Ricardian households and test the stability of the model's prediction when the fraction of liquidity-constrained households changes. In particular, I assess the impacts...

This paper addresses the estimation of the nonparametric conditional moment restricted model that involves an infinite-dimensional parameter g0. We estimate it in a quasi-Bayesian way, based on the limited information likelihood, and investigate the impact of three types of priors on the...

This chapter proposes an up-to-date review of estimation strategies available for the Bayesian inference of GARCH-type models. The emphasis is put on a novel efficient procedure named AdMitIS. The methodology automatically constructs a mixture of Student-t distributions as an approximation to...

Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag (ADL) model is chosen. The results show that a...

Many personal and policy decisions turn on perceptions of school effectiveness, defined here as the causal effect of attendance at a particular school or set of schools on student test scores and other outcomes. Widely-disseminated school ratings frameworks compare average student achievement...