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Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies

Blonigen, Bruce A.; Wang, Miao - 2021

investment (FDI) systematically different from those of developed countries (DCs). We do this by examining three types of … likely to crowd in) domestic investment for LDCs than DCs …

Persistent link: https://www.econbiz.de/10013228764

Benchmarking Global Optimizers

Arnoud, Antoine - 2019

functions as well as a method of simulated moments estimation of a panel data model of earnings dynamics. Five of the algorithms … completeness, we add three popular local algorithms to the comparison—the Nelder-Mead downhill simplex algorithm, the Derivative … give a detailed comparison of algorithms, we use a set of benchmarking tools recently developed in the applied mathematics …

Persistent link: https://www.econbiz.de/10012861735

Potential Pitfalls for the Purchasing-Power-Parity Puzzle? Sampling and Specification Biases in Mean-Reversion Tests of the Law of One Price

Taylor, Alan M. - 2021

The PPP puzzle is based on empirical evidence that international price differences for individual goods (LOOP) or baskets of goods (PPP) appear highly persistent or even non-stationary. The present consensus is these price differences have a half-life that is of the order of five years at best,...

Persistent link: https://www.econbiz.de/10013239956

Robust Inference for Misspecified Models Conditional on Covariates

Abadie, Alberto - 2011

Following the work by White (1980ab; 1982) it is common in empirical work in economics to report standard errors that are robust against general misspecification. In a regression setting these standard errors are valid for the parameter that in the population minimizes the squared difference between...

Persistent link: https://www.econbiz.de/10013120210

Modeling Model Uncertainty

Onatski, Alexei; Williams, Noah - 2021

Recently there has been a great deal of interest in studying monetary policy under model uncertainty. We point out that different assumptions about the uncertainty may result in drastically different robust' policy recommendations. Therefore, we develop new methods to analyze uncertainty about...

Persistent link: https://www.econbiz.de/10013246256

Identification and Estimation of Hedonic Models

Ekeland, Ivar; Heckman, James J.; Nesheim, Lars - 2021

This paper considers the identification and estimation of hedonic models. We establish that in an additive version of the hedonic model, technology and preferences are generically identified up to affine transformations from data on demand and supply in a single hedonic market. For a very...

Persistent link: https://www.econbiz.de/10013249344

VAR Models as Structural Approximations

Fair, Ray C. - 2021

This paper presents a way of estimating how accurate VAR models are likely to be for answering structural questions. Data are generated from a dynamic deterministic solution of a structural model; a VAR model is estimated using a subset of these data; and the properties of the VAR model are...

Persistent link: https://www.econbiz.de/10013231217

Demand Estimation with Machine Learning and Model Combination

Bajari, Patrick L. - 2015

effects. We illustrate our method using a standard scanner panel data set to estimate promotional lift and find that our …

Persistent link: https://www.econbiz.de/10013028059

Identification and Estimation of Triangular Simultaneous Equations Models Without Additivity

Imbens, Guido; Newey, Whitney K. - 2021

This paper investigates identification and inference in a nonparametric structural model with instrumental variables and non-additive errors. We allow for non-additive errors because the unobserved heterogeneity in marginal returns that often motivates concerns about endogeneity of choices...

Persistent link: https://www.econbiz.de/10013233479

A Framework for Eliciting, Incorporating, and Disciplining Identification Beliefs in Linear Models

DiTraglia, Francis J. - 2016

To estimate causal effects from observational data, an applied researcher must impose beliefs. The instrumental variables exclusion restriction, for example, represents the belief that the instrument has no direct effect on the outcome of interest. Yet beliefs about instrument validity do not...

Persistent link: https://www.econbiz.de/10012983438