In this paper, we explore an alternative explanation of the exposure puzzle, the missing variable bias in previous studies. We propose to correct the bias with the quantile regression technique invented by Koenker and Bassett (Econometrica 46:33–51, <CitationRef CitationID="CR30">1978</CitationRef>). Empirically, as soon as we take into...</citationref>

The contemporaneous relationship between temperature and income is important because it enables economists to estimate the economic impact of global warming without assuming a structural model. Until recently, empirical evidence generally suggests that there is a negative relationship between...

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This paper explores the robustness of minimum distance (GMM) estimators focusing particularly on the effect of intermediate covariance matrix estimation on final estimator performance. Asymptotic expansions to order <italic>O</italic>(<italic>n</italic>^−3/2) are employed to construct <italic>O</italic>(<italic>n</italic>⁻²) expansions for the variance of...

When we control for worker characteristics, we are able to directly test theories of efficiency wages and fairness. We find that high-quality workers continue to be associated with good outcomes. High-wage strategies are also associated with better won-lost performance and higher attendance...