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This paper estimates the importance of temptation (Gul and Pesendorfer, 2001) for consumption smoothing and asset accumulation in a structural life-cycle model. We use two complementary estimation strategies: first, we estimate the Euler equation of this model; and second we match liquid and...
Persistent link: https://www.econbiz.de/10012253295
I introduce a procedure to nonparametrically estimate local quantile treatment effects in a regression discontinuity (RD) design with a binary treatment. Analogously to Hahn, Todd, and van der Klaauw's (2001) estimator for average treatment effects using local linear regression, the estimator...
Persistent link: https://www.econbiz.de/10014215885
This paper develops and implements a GMM estimator for latent class models suitable for count data. The estimator uses conditional moment restrictions derived from standard count models. Both the efficient and consistent variants are considered. The implementation of optimal GMM based on...
Persistent link: https://www.econbiz.de/10014221986
The recent literature on convergence has departed from the earlier literature by focusing on the shape of the production function and the rate at which an economy converges to its own steady state. This paper uses advances from the recent literature to look back at the question that originally...
Persistent link: https://www.econbiz.de/10014076056
In this paper I demonstrate, both theoretically and empirically, that the interpretation of regression estimates of between-group differences in economic outcomes depends on the relative sizes of subpopulations under study. When the disadvantaged group is small, regression estimates are similar...
Persistent link: https://www.econbiz.de/10014084090
This paper proposes a new panel data approach to identify and estimate the time-varying average treatment effect (ATE). The approach allows for treatment effect heterogeneity that depends on unobserved fixed effects. In the presence of this type of heterogeneity, existing panel data approaches...
Persistent link: https://www.econbiz.de/10014104396