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The method of model averaging has become an important tool to deal with model uncertainty, in particular in empirical settings with large numbers of potential models and relatively limited numbers of observations, as are common in economics. Model averaging is a natural response to model...
Persistent link: https://www.econbiz.de/10015257563
The method of model averaging has become an important tool to deal with model uncertainty, for example in situations where a large amount of different theories exist, as are common in economics. Model averaging is a natural and formal response to model uncertainty in a Bayesian framework, and...
Persistent link: https://www.econbiz.de/10015262107
The method of model averaging has become an important tool to deal with model uncertainty, for example in situations where a large amount of different theories exist, as are common in economics. Model averaging is a natural and formal response to model uncertainty in a Bayesian framework, and...
Persistent link: https://www.econbiz.de/10015262951
In all areas of human knowledge, datasets are increasing in both size and complexity, creating the need for richer statistical models. This trend is also true for economic data, where high-dimensional and nonlinear/noparametric inference is the norm in several fields of applied econometric work....
Persistent link: https://www.econbiz.de/10015265696
Some regulatory reforms do not change just a specific signal that can be represented by a quantitative continuous variable, such as a tax rate, a price cap, or an emission threshold. The standard theory of reform in applied welfare economics (going back to contributions by e.g. Ramsey, Samuelson...
Persistent link: https://www.econbiz.de/10015255576
In the past 30 years, the historiography of colonial Pampean agriculture showed a radical change. The “Bonaerense Campaign”, which was thought extensively devoted to cattle, was recently named one of the most important grain-producing regions of the Spanish Empire. This new hermeneutics of...
Persistent link: https://www.econbiz.de/10015220991
I investigate how well market valuation and yield measures predict the maximum sustainable withdrawal rate (MWR) that a person can use with their retirement savings to obtain inflation-adjusted income over a 30-year period. The regression framework includes variables to predict long-term stock...
Persistent link: https://www.econbiz.de/10015226876
Countless current and prospective retirees now rely on portfolio success rates calculated from the historical data for different retirement withdrawal strategies when planning their own retirements. Past history-based studies ushered forth what has become known as the 4 percent rule for...
Persistent link: https://www.econbiz.de/10015227012
The purpose of the System Dynamics method is to study the relationship between structure and behavior in non-linear, dynamic systems. In such systems, the significance of various structural components to the behavior pattern exhibited, changes as the behavior unfolds. Changes in structural...
Persistent link: https://www.econbiz.de/10015227450
We study the distribution of the adaptive LASSO estimator (Zou (2006)) in finite samples as well as in the large-sample limit. The large-sample distributions are derived both for the case where the adaptive LASSO estimator is tuned to perform conservative model selection as well as for the case...
Persistent link: https://www.econbiz.de/10015250591