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Pesaran, M. Hashem - 2011

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...

Persistent link: https://www.econbiz.de/10013129942

Regional Price Differences in Urban China 1986-2001 : Estimation and Implication

Gong, Cathy Honge; Meng, Xin - 2021

Despite the intensive efforts made by economists to examine regional income inequality in China, limited attention has been paid to disentangle the contribution of regional price differentials. This paper examines regional price differential in urban China over the period 1986 to 2001. Spatial...

Persistent link: https://www.econbiz.de/10013325065

Optimal Price Indices for Targeting Inflation Under Incomplete Markets

Anand, Rahul - 2010

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a two-sector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...

Persistent link: https://www.econbiz.de/10013139035

The Welfare Impact of Price Changes on Household Welfare and Inequality 1999-2010

Loughrey, Jason - 2011

This paper provides a single welfare measure to show the effects of consumer price changes upon households in Ireland between 1999 and 2010. This measure combines an efficiency component using a Linear Expenditure System (LES) and an equity component using the Atkinson Social Welfare Function....

Persistent link: https://www.econbiz.de/10013124494

What Measure of Inflation Should a Developing Country Central Bank Target?

Anand, Rahul - 2015

In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained...

Persistent link: https://www.econbiz.de/10013016274

The Pass-Through of Exchange Rate in the Context of the European Sovereign Debt Crisis

Ben Cheikh, Nidhaleddine - 2015

This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...

Persistent link: https://www.econbiz.de/10013012797

Persistence Bias and the Wage-Schooling Model

Andini, Corrado - 2013

This paper provides an expression for the bias of the OLS estimator of the schooling coefficient in a simple static … coefficient is biased upward, and the bias is increasing with potential labor-market experience and the degree of earnings … persistence. In addition, NLSY data are used to show that the magnitude of the persistence bias is non-negligible, and the bias …

Persistent link: https://www.econbiz.de/10013087398

Minimizing Bias in Selection on Observables Estimators When Unconfoundness Fails

Millimet, Daniel L.; Tchernis, Rusty - 2021

We characterize the bias of propensity score based estimators of common average treatment effect parameters in the case …

Persistent link: https://www.econbiz.de/10013325041

Matching Bias in Labor Demand Estimation

Aguilar, Giovanna - 2007

Using a matched firm-worker dataset, we show both theoretically and empirically that positive assortative matching between firms and workers leads to an underestimation of the absolute value of wage elasticity of labor demand

Persistent link: https://www.econbiz.de/10012775693

Bias Corrections for Two-Step Fixed Effects Panel Data Estimators

Fernández‐Val, Iván; Vella, Francis - 2021

This paper introduces bias-corrected estimators for nonlinear panel data models with both time invariant and time …/selection bias. We then estimate the primary equation by fixed effects including an appropriately constructed control function from … both steps might employ nonlinear fixed effects procedures it is necessary to bias adjust the estimates due to the …

Persistent link: https://www.econbiz.de/10013317161