In this paper, we study the statistical properties of heterogeneous agent models with incomplete markets. Using a Bewley-Hugget-Aiyagari model we compute the equilibrium density function of wealth and show how it can be used for likelihood inference. We investigate the identifiability of the...

Countries have employed a variety of non-pharmaceutical interventions (NPIs) in order to curtail the Covid-19 pandemic. However, the success of individual measures in reducing the number of infections remains controversial. This paper exploits a panel data set of 182 countries to estimate the...

Individuals urbanize when the net benefits to urbanization exceed rural living conditions. Body mass, height, and weight are welfare measures that reflect the net difference between calories consumed and calories required for work and to withstand the physical environment. Nineteenth and early...

We propose a demand estimation method that allows researchers to estimate substitution patterns from unstructured image and text data. We first employ a series of machine learning models to measure product similarity from products' images and textual descriptions. We then estimate a nested logit...

This paper evaluates how different lengths of entry regulation impact market structure and market performance using a dynamic structural model. We formulate an oligopoly model in the tradition of Ericson and Pakes (1995) and allow entry costs to vary over time. Firms have the opportunity to...

When traditional measures for material conditions are scarce or unreliable, body mass, height, and weight are complements to standard income and wealth measures. A persistent question in welfare studies is the 19th century's 2nd and 3rd quarter's stature diminution, a pattern known as the...

The alleged liberal bias and high costs of fact-checker ratings (Nieminen & Rapeli, 2019) have prevented their ability to limit the spread of fake news. Wisdom-of-the-crowd-based approaches, recognized as a credible alternative to traditional fact-checking methods, have gained prominence for...