Showing 1 - 10 of 46
This paper characterizes and proposes a method to correct for errors-in-variables biases in the estimation of rank correlation coeffcients (Spearman's ρ and Kendall's τ). We first investigate a set of suffcient conditions under which measurement errors bias the sample rank correlations...
Persistent link: https://www.econbiz.de/10011941472
This paper develops a novel method for policy choice in a dynamic setting where the available data is a multi-variate time series. Building on the statistical treatment choice framework, we propose Time-series Empirical Welfare Maximization (T-EWM) methods to estimate an optimal policy rule by...
Persistent link: https://www.econbiz.de/10015193983
This paper develops a specification test for the instrument validity conditions in the heterogeneous treatment effect model with a binary treatment and a discrete instrument. A necessary testable implication for the joint restriction of instrument exogeneity and instrument monotonicity is given...
Persistent link: https://www.econbiz.de/10010368206
In the practice of program evaluation, choosing the covariates and the functional form of the propensity score is an important choice for estimating treatment effects. This paper proposes data-driven model selection and model averaging procedures that address this issue for the propensity score...
Persistent link: https://www.econbiz.de/10010368220
This paper develops a specification test for instrument validity in the heterogeneous treatment effect model with a binary treatment and a discrete instrument. The strongest testable implication for instrument validity is given by the condition for nonnegativity of point-identifiable complier's...
Persistent link: https://www.econbiz.de/10011282657
We propose a method for conducting inference on impulse responses in structural vector autoregressions (SVARs) when the impulse response is not point identified because the number of equality restrictions one can credibly impose is not sufficient for point identification and/or one imposes sign...
Persistent link: https://www.econbiz.de/10011445698
One of the main objectives of empirical analysis of experiments and quasi-experiments is to inform policy decisions that determine the allocation of treatments to individuals with different observable covariates. We propose the Empirical Welfare Maximization (EWM) method, which estimates a...
Persistent link: https://www.econbiz.de/10011445711
In the practice of program evaluation, choosing the covariates and the functional form of the propensity score is an important choice that the researchers make when estimating treatment effects. This paper proposes a data-driven way of averaging the estimators over the candidate specifications...
Persistent link: https://www.econbiz.de/10011445765
The goal of many randomized experiments and quasi-experimental studies in economics is to inform policies that aim to raise incomes and reduce economic inequality. A policy maximizing the sum of individual incomes may not be desirable if it magnifies economic inequality and post-treatment...
Persistent link: https://www.econbiz.de/10011941435
We present a social learning experiment in which subjects predict the value of a good in sequence. We elicit each subject's belief twice: first ("first belief"), after he observes his predecessors' prediction; second, after he also observes a private signal. Our main result is that subjects...
Persistent link: https://www.econbiz.de/10011941441