Similar Search Results

Education and Entrepreneurial Choice: An Instrumental Variables Analysis

Block, Joern H.; Hoogerheide, Lennart; Thurik, Roy - Tinbergen Instituut - 2009

endogeneity by using an instrumental variables approachand a data set of more than ten thousand individuals from 27 European …

Persistent link: https://www.econbiz.de/10011257474

Are Education and Entrepreneurial Income Endogenous and do Family Background Variables make Sense as Instruments? A Bayesian Analysis

Block, Joern H.; Hoogerheide, Lennart; Thurik, Roy - Tinbergen Instituut - 2010

, suffers from endogeneity suspicion. For instance, ability and occupational choice are mentioned as driving both the level of … endogeneity is really present, whether it matters and whether the selected instruments make sense. Using Bayesian methods, we find … that the relationship between education and entrepreneurial income is indeed endogenous and that the impact of endogeneity …

Persistent link: https://www.econbiz.de/10011257490

A Class of Adaptive Importance Sampling Weighted EM Algorithms for Efficient and Robust Posterior and Predictive Simulation

Hoogerheide, Lennart; Opschoor, Anne; Dijk, Herman K. van - Tinbergen Instituut - 2012

This discussion paper was published in the Journal of Econometrics (2012). Vol. 171(2), 101-120. A class of adaptive sampling methods is introduced for efficient posterior and predictive simulation. The proposed methods are robust in the sense that they can handle target distributions that...

Persistent link: https://www.econbiz.de/10011257036

Instrumental Variables, Errors in Variables, and Simultaneous Equations Models: Applicability and Limitations of Direct Monte Carlo

Zellner, Arnold; Ando, Tomohiro; Basturk, Nalan; … - Tinbergen Instituut - 2011

A Direct Monte Carlo (DMC) approach is introduced for posterior simulation in theInstrumental Variables (IV) model with one possibly endogenous regressor, multipleinstruments and Gaussian errors under a flat prior. This DMC method can also beapplied in an IV model (with one or multiple...

Persistent link: https://www.econbiz.de/10011257271

Family Background Variables as Instruments for Education in Income Regressions: A Bayesian Analysis

Hoogerheide, Lennart; Block, Joern H.; Thurik, Roy - Tinbergen Instituut - 2010

of the strong validity assumption affect the estimation results. We show that, in case of moderate direct effects of the …

Persistent link: https://www.econbiz.de/10011257613

Capital Structure and the Redeployability of Tangible Assets

Campello, Murillo; Giambona, Erasmo - Tinbergen Instituut - 2011

We characterize the relation between corporate asset structure and capital structure by exploitingvariation in the salability of tangible assets. Theory suggests that tangibility increases borrowingcapacity because it allows creditors to more easily repossess a firm’s assets. Tangible assets,...

Persistent link: https://www.econbiz.de/10011255648

Possibly Ill-behaved Posteriors in Econometric Models

Hoogerheide, Lennart; Dijk, Herman K. van - Tinbergen Instituut - 2008

discuss how a so-called Information Matrix or Jeffreys' prior may be used as a `regularization prior' that in combination with …

Persistent link: https://www.econbiz.de/10011255771

On Distributions of Ratios

Broda, Simon A.; Kan, Raymond - Tinbergen Instituut - 2014

A large number of exact inferential procedures in statistics and econometrics involve the sampling distribution of ratios of random variables. If the denominator variable is positive, then tail probabilities of the ratio can be expressed as those of a suitably defined difference of random...

Persistent link: https://www.econbiz.de/10011255898

Bayesian Analysis of Instrumental Variable Models: Acceptance-Rejection within Direct Monte Carlo

Zellner, Arnold; Ando, Tomohiro; Basturk, Nalan; … - Tinbergen Instituut - 2012

This discussion paper resulted in a publication in Econometric Reviews. Vol. 33(1-4), 3-35. We discuss Bayesian inferential procedures within the family of instrumental variables regression models and focus on two issues: existence conditions for posterior moments of the parameters of interest...

Persistent link: https://www.econbiz.de/10011256253

Identifying the Weights in Exchange Market Pressure

Klaassen, Franc - Tinbergen Instituut - 2011

Exchange market pressure (EMP) measures the pressure on a currency to depreciate. It adds to the actual depreciation a weighted combination of policy instruments used to ward off depreciation, such as interest rates and foreign exchange interventions, where the weights are their effectiveness....

Persistent link: https://www.econbiz.de/10011256391