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Heterogeneity, Uncertainty and Learning : Semiparametric Identification and Estimation

Bunting, Jackson; Diegert, Paul; Maurel, Arnaud - National Bureau of Economic Research - 2024

We provide semiparametric identification results for a broad class of learning models in which continuous outcomes depend on three types of unobservables: i) known heterogeneity, ii) initially unknown heterogeneity that may be revealed over time, and iii) transitory uncertainty. We consider a...

Persistent link: https://www.econbiz.de/10014486255

Nonlinear Budget Set Regressions for the Random Utility Model

Blomquist, Nils Sören; Kumar, Anil; Liang, Che-yuan; … - National Bureau of Economic Research - 2023

This paper is about the nonparametric regression of a choice variable on a nonlinear budget set under utility maximization with general heterogeneity, i.e. in the random utility model (RUM). We show that utility maximization and convex budget sets make this regression three dimensional with a...

Persistent link: https://www.econbiz.de/10014250211

Beyond Cobb-Douglas : Flexibly Estimating Matching Functions with Unobserved Matching Efficiency

Lange, Fabian - 2020

the empirical literature estimating the matching function, commonly used to map unemployment and vacancies into hires …. First, we show how to non-parametrically identify the matching function. Second, we estimate the matching function allowing … for unobserved matching efficacy, without imposing the usual independence assumption between matching efficiency and …

Persistent link: https://www.econbiz.de/10012481928

Complementarity and Aggregate Implications of Assortative Matching : A Nonparametric Analysis

Graham, Bryan S. - 2009

, potentially complementary, input fixed. We introduce a class of such reallocations -- correlated matching rules -- that includes … the status quo allocation, a random allocation, and both the perfect positive and negative assortative matching …

Persistent link: https://www.econbiz.de/10012463788

Inventor Gender and Patent Undercitation : Evidence from Causal Text Estimation

Hochberg, Yael V.; Kakhbod, Ali; Li, Peiyao; Sachdeva, Kunal - National Bureau of Economic Research - 2023

Implementing a state-of-the-art machine learning technique for causal identification from text data (C-TEXT), we document that patents authored by female inventors are under-cited relative to those authored by males. Relative to what the same patent would be predicted to receive had the lead...

Persistent link: https://www.econbiz.de/10014337825

Incorporating Micro Data into Differentiated Products Demand Estimation with PyBLP

Conlon, Christopher; Gortmaker, Jeff - National Bureau of Economic Research - 2023

We provide a general framework for incorporating many types of micro data from summary statistics to full surveys of selected consumers into Berry, Levinsohn, and Pakes (1995)-style estimates of differentiated products demand systems. We extend best practices for BLP estimation in Conlon and...

Persistent link: https://www.econbiz.de/10014337838

Global Natural Rates in the Long Run : Postwar Macro Trends and the Market-Implied r* in 10 Advanced Economies

Davis, Joshua M.; Fuenzalida, Cristian; Huetsch, Leon; … - National Bureau of Economic Research - 2023

Benchmark finance and macroeconomic models appear to deliver conflicting estimates of the natural rate and bond risk premia. This natural rate puzzle applies not only in the U.S. but across many advanced economies. We use a unified no-arbitrage macro- finance model with two trend factors to...

Persistent link: https://www.econbiz.de/10014421212

Stacked Difference-in-Differences

Wing, Coady; Freedman, Seth; Hollingsworth, Alex - National Bureau of Economic Research - 2024

This paper introduces the concept of a "trimmed aggregate ATT," which is a weighted average of a set of group-time average treatment effect on the treated (ATT) parameters identified in a staggered adoption difference-in-differences (DID) design. The set of identified group-time ATTs that...

Persistent link: https://www.econbiz.de/10014468254

Getting the Right Tail Right : Modeling Tails of Health Expenditure Distributions

Karlsson, Martin; Wang, Yulong; Ziebarth, Nicolas R. - National Bureau of Economic Research - 2023

Health expenditure data almost always include extreme values. Such heavy tails can be a threat to the commonly adopted least squares methods. To accommodate extreme values, we propose the use of an estimation method that recovers the often ignored right tail of health expenditure distributions....

Persistent link: https://www.econbiz.de/10014322831

A Trajectories-Based Approach to Measuring Intergenerational Mobility

Chang, Yoosoon; Durlauf, Steven N.; Lee, Seunghee; … - National Bureau of Economic Research - 2023

This paper develops an approach to intergenerational mobility in which the trajectories of parental incomes during childhood and adolescence are the conditioning objects for characterizing dependence across generations. We use functional regression methods to produce an intergenerational...

Persistent link: https://www.econbiz.de/10014247941

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