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Several studies on heritability in twins aim at understanding the different contribution of environmental and genetic factors to specific traits. Considering the National Merit Twin Study, our purpose is to correctly analyse the influence of the socioeconomic status on the relationship between...
Persistent link: https://www.econbiz.de/10012969727
This book presents in detail methodologies for the Bayesian estimation of single-regime and regime-switching GARCH models. These models are widespread and essential tools in financial econometrics and have, until recently, mainly been estimated using the classical Maximum Likelihood technique....
Persistent link: https://www.econbiz.de/10013156202
Empirical growth research faces a high degree of model uncertainty. Apart from the neoclassical growth model, many new (endogenous) growth models have been proposed. This causes a lack of robustness of the parameter estimates and makes the determination of the key determinants of growth...
Persistent link: https://www.econbiz.de/10012724577
This paper analyzes Structural Vector Autoregressions (SVARs) where identification of structural parameters holds locally but not globally. In this case there exists a set of isolated structural parameter points that are observationally equivalent under the imposed restrictions. Although the...
Persistent link: https://www.econbiz.de/10012251913
In this paper, we study identification and misspecification problems in standard closed and open-economy empirical New-Keynesian DSGE models used in monetary policy analysis. We find that problems with model misspecification still appear to be a first-order issue in monetary DSGE models, and...
Persistent link: https://www.econbiz.de/10011961473
This paper analyzes Structural Vector Autoregressions (SVARs) where identification of structural parameters holds locally but not globally. In this case there exists a set of isolated structural parameter points that are observationally equivalent under the imposed restrictions. Although the...
Persistent link: https://www.econbiz.de/10013256386
Persistent link: https://www.econbiz.de/10014328993
Fixed effects estimators of nonlinear panel data models can be severely biased because of the incidental parameter problem. We develop analytical and jackknife bias corrections for nonlinear models with both individual and time effects. Under asymptotic sequences where the time-dimension (T)...
Persistent link: https://www.econbiz.de/10010501255
The problem of multicollinearity in the assessments of coefficients is well established. However, it is rarely researched in the estimations of macroeconomic variables and economic performance of developing countries. Predicatively, it has impacts on the estimations of coefficients that should...
Persistent link: https://www.econbiz.de/10014179444
A feature of GMM estimation--the use of a consistent estimate of the optimal weighting matrix rather than the joint estimation of the model parameters and the weighting matrix--can lead to the sensitivity of GMM estimation to the choice of parameter normalization. In many applications, including...
Persistent link: https://www.econbiz.de/10014179995