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Two-stage instrumental variable estimation of linear panel data models with interactive effects
Cui, Guowei; Norkuté, Milda; Sarafidis, Vasilis; … - 2020
This paper puts forward a new instrumental variables (IV) approach for linear panel datamodels with interactive effects in the error term and regressors. The instruments are transformed regressors and so it is not necessary to search for external instruments. The proposed method asymptotically...
Persistent link: https://www.econbiz.de/10012543993
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Instrumental Variable Estimation of Dynamic Linear Panel Data Models with Defactored Regressors and a Multifactor Error Structure
Norkute, Milda - 2019
This paper develops two instrumental variable (IV) estimators for dynamic panel data models with exogenous covariates and a multifactor error structure when both crosssectional and time series dimensions, N and T respectively, are large. Our approach initially projects out the common factors...
Persistent link: https://www.econbiz.de/10012900011
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The causes of Japan's 'lost decade': The role of household consumption
Horioka, Charles Yuji - 2006
stagnation of household consumption during the 1990s and find that the stagnation of household disposable income, the decline in …
Persistent link: https://www.econbiz.de/10010332277
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Recent trends in consumption in Japan and the other Group of Seven (G7) countries
Horioka, Charles Yuji - 2012
In this paper, we present data on recent trends in private consumption and in possible determinants of private … consumption (such as GDP, household incomes, household saving rates, household wealth, and employment conditions) in the Group of … consumption growth rates but also in the determinants of private consumption growth during the 2002-07 period. With respect to …
Persistent link: https://www.econbiz.de/10010332369
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The dissaving of the aged revisited: The case of Japan
Horioka, Charles Yuji - 2006
In this paper, I survey the previous literature on the saving behavior of the aged in Japan and then present some survey data on the saving behavior of the aged in Japan that became available recently. To summarize the main findings of this paper, all previous studies as well as the newly...
Persistent link: https://www.econbiz.de/10010332389
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The (dis)saving behavior of the aged in Japan
Horioka, Charles Yuji - 2009
, increases in consumption expenditures, and increases in taxes and social insurance premiums. These findings are consistent with …
Persistent link: https://www.econbiz.de/10010332495
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Does the selfish life-cycle model apply in the case of Japan?
Horioka, Charles - 2020
In this paper, we first provide a brief exposition of the simplest version of the selfish life cycle model or hypothesis, which is undoubtedly the most widely used theoretical model of household behavior in economics, and then survey the literature on household saving behavior in Japan (with...
Persistent link: https://www.econbiz.de/10012430036
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Is the selfish life-cycle model more applicable in Japan and, if so, why? A literature survey
Horioka, Charles - 2020
The selfish life-cycle model or hypothesis is, together with the dynasty or altruism model, the most widely used theoretical model of household behavior in economics, but does this model apply in the case of a country like Japan, which is said to have closer family ties than other countries? In...
Persistent link: https://www.econbiz.de/10012543994
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Capital Gains in Japan: Their Magnitude and Imact on Consumption.
Horioka, C.Y. - Institute of Social and Economic Research (ISER), Osaka … - 1995
Persistent link: https://www.econbiz.de/10008602880
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Habits, Costly Investment, and Current Account Dynamics
Ikeda, S.; Gombi, I. - Institute of Social and Economic Research (ISER), Osaka … - 1995
Using a small country model with habit-forming consumers and costly investment, we analyze equilibrium dynamics of the economy and derive empirical and welfare implications. The model can mimic some stylized facts: (i) a temporary increase in fiscal spending always deteriorates the current...
Persistent link: https://www.econbiz.de/10008602944