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. At the same time, there is discussion regarding the robustness of the results of empirical growth studies. In a seminal … paper, Knack and Keefer (1997) assess the effect of trust on growth. This paper analyses the robustness of their results … along several dimensions, acknowledging the complexity of therobustness concept. Our findings show that the robustness of …
Persistent link: https://www.econbiz.de/10005136946
The empirical economic growth literature is criticized for its lack of robustness. For different definitions of … robustness, conclusions vary from 'almost every correlation is fragile' to 'a substantial number of explanatory variables are … robustness using quasi-experiments. The analysis pertains to sign, size and significance of the effects, and we relax the quasi …
Persistent link: https://www.econbiz.de/10005137163
distribution. The robustness of the concomitant test statistic is assessed, and four different methods are discussed for applying …
Persistent link: https://www.econbiz.de/10005137302
Misspecifications and differences in operational definitions of elasticities in primary studies carry over to meta-analysis results. We show that the current practice of accounting for such primary study aber-rations in a meta-analysis by means of dummy variables goes a long way in mitigating...
Persistent link: https://www.econbiz.de/10005036250
This paper shows that the presence of conditional staging in R&D (Research & Development) has a critical impact on portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option-like characteristics, correlation between projects plays a...
Persistent link: https://www.econbiz.de/10005016277
In this paper we use Monte Carlo simulation to investigate the impact of effect size heterogeneity on the results of a meta-analysis. Specifically, we address the small sample behaviour of the OLS, the fixed effects regression and the mixed effects meta-estimators under three alternative...
Persistent link: https://www.econbiz.de/10005136866
The linear Gaussian state space model for which the common variance is treated as a stochastic time-varying variable is considered for the modelling of economic time series. The focus of this paper is on the simultaneous estimation of parameters related to the stochastic processes of the mean...
Persistent link: https://www.econbiz.de/10005209436
We investigate changes in the time series characteristics of postwar U.S. inflation. In a model-based analysis the conditional mean of inflation is specified by a long memory autoregressive fractionally integrated moving average process and the conditional variance is modelled by a stochastic...
Persistent link: https://www.econbiz.de/10005209535
We solve for the optimal portfolio allocation in a setting where both conditional correlation and the
Persistent link: https://www.econbiz.de/10008838602
emotions. This conjecture is tested in an experiment with real lottery tickets. We show that our theoretical considerations may …
Persistent link: https://www.econbiz.de/10008513217