Showing 1 - 10 of 522
Parametric mixture models are commonly used in applied work, especially empiri- cal economics, where these models are often employed to learn for example about the proportions of various types in a given population. This paper examines the inference question on the proportions (mixing...
Persistent link: https://www.econbiz.de/10009742927
This paper examines the asymptotic behavior of the posterior distribution of a possibly nondifferentiable function g(θ), where θ is a finite-dimensional parameter of either a parametric or semiparametric model. The main assumption is that the distribution of a suitable estimator θ^n, its...
Persistent link: https://www.econbiz.de/10011992097
This paper examines the asymptotic behavior of the posterior distribution of a possibly nondifferentiable function g(theta), where theta is a finite-dimensional parameter of either a parametric or semiparametric model. The main assumption is that the distribution of a suitable estimator theta_n,...
Persistent link: https://www.econbiz.de/10011758319
This paper examines the asymptotic behavior of the posterior distribution of a possibly nondifferentiable function g(theta), where is a finite dimensional parameter. The main assumption is that the distribution of the maximum likelihood estimator theta_n, its bootstrap approximation, and the...
Persistent link: https://www.econbiz.de/10011459005
This paper develops and applies a Bayesian approach to Exploratory Factor Analysis that improves on ad hoc classical approaches. Our framework relies on dedicated factor models and simultaneously determines the number of factors, the allocation of each measurement to a unique factor, and the...
Persistent link: https://www.econbiz.de/10010382148
likelihood formulation for their global estimation. We obtain solutions that satisfy the monotonicity property of conditional … corresponding maximum likelihood estimator is given that expands the scope of our estimation analysis to models with sparsity …. Inference and estimation results for conditional distribution, quantile and density functions implied by our representations are …
Persistent link: https://www.econbiz.de/10012312896
In this paper we introduce a new flexible mixed model for multinomial discrete choice where the key individual- and alternative-specific parameters of interest are allowed to follow an assumptionfree nonparametric density specification while other alternative-specific coefficients are assumed to...
Persistent link: https://www.econbiz.de/10003746887
estimation. This class nests several estimators proposed in the literature. By considering a "maximum likelihood" criterion …
Persistent link: https://www.econbiz.de/10011797607
The leading strategy for analyzing unstructured data uses two steps. First, latent variables of economic interest are estimated with an upstream information retrieval model. Second, the estimates are treated as "data" in a downstream econometric model. We establish theoretical arguments for why...
Persistent link: https://www.econbiz.de/10014529335
shocks is approximately acyclical, whereas the skewness of permanent shocks is procyclical. By comparison, we find that the … dispersion and skewness of shocks to hourly wages vary little with the business cycle. …
Persistent link: https://www.econbiz.de/10012152500