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Measuring the price responsiveness of gasoline demand

Blundell, Richard W.; Horowitz, Joel; Parey, Matthias - 2009

economic theory to improve the precision of a nonparametric estimate of the demand function. Using data from the U.S. National …This paper develops a new method for estimating the demand function for gasoline and the deadweight loss due to an … Household Travel Survey, we show that the restrictions are consistent with the data on gasoline demand and remove the anomalous …

Persistent link: https://www.econbiz.de/10003838977

Measuring the price responsiveness of gasoline demand : economic shape restrictions and nonparametric demand estimation

Blundell, Richard W.; Horowitz, Joel; Parey, Matthias - 2011

from economic theory to improve the precision of a nonparametric estimate of the demand function. Using data from the U …This paper develops a new method for estimating a demand function and the welfare consequences of price changes. The … method is applied to gasoline demand in the U.S. and is applicable to other goods. The method uses shape restrictions derived …

Persistent link: https://www.econbiz.de/10009230288

Estimating the technology of cognitive and noncognitive skill formation

Cunha, Flávio; Heckman, James J.; Schennach, Susanne M. - 2010

This paper formulates and estimates multistage production functions for children's cognitive and noncognitive skills. Skills are determined by parental environments and investments at different stages of childhood. We estimate the elasticity of substitution between investments in one period and...

Persistent link: https://www.econbiz.de/10003989930

Testing the correlated random coefficient model

Heckman, James J.; Schmierer, Daniel; Urzua, Sergio - 2010

The recent literature on instrumental variables (IV) features models in which agents sort into treatment status on the basis of gains from treatment as well as on baselinepretreatment levels. Components of the gains known to the agents and acted on by them may not be known by the observing...

Persistent link: https://www.econbiz.de/10003989944

Testing multivariate economic restrictions using quantiles : the example of Slutsky negative semidefiniteness

Dette, Holger; Hoderlein, Stefan; Neumeyer, Natalie - 2011

individual behavior. -- Nonparametric Testing ; Heterogeneity ; Integrability ; Nonseparable Models ; Consumer Demand ; Quantile …

Persistent link: https://www.econbiz.de/10009008722

Anchoring the yield curve using survey expectations

Altavilla, Carlo; Giacomini, Raffaella; Ragusa, Giuseppe - 2013

The dynamic behavior of the term structure of interest rates is difficult to replicate with models, and even models with a proven track record of empirical performance have underperformed since the early 2000s. On the other hand, survey expectations are accurate predictors of yields, but only...

Persistent link: https://www.econbiz.de/10010190487

High performance quadrature rules : how numerical integration affects a popular model of product differentiation

Judd, Kenneth L.; Skrainka, Ben - 2011

Efficient, accurate, multi-dimensional, numerical integration has become an important tool for approximating the integrals which arise in modern economic models built on unobserved heterogeneity, incomplete information, and uncertainty. This paper demonstrates that polynomialbased rules...

Persistent link: https://www.econbiz.de/10008824642

Bias corrections for two-step fixed effects panel data estimators

Fernández-Val, Iván (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003428365

Quantile and probability curves without crossing

Chernozhukov, Victor (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003454059

On the dynamics of unemployment and wage distributions

Robin, Jean-Marc - 2010

Postel-Vinay and Robin' (2002) sequential auction model is extended to allow for aggregate productivity shocks. Workers exhibit permanent differences in ability while firms are identical. Negative aggregate productivity shocks induce job destruction by driving the surplus of matches with low...

Persistent link: https://www.econbiz.de/10003942201