I papiret undersøges anvendeligheden af en ikke-parametrisk metode, en såkaldt regression spline, til estimation af …. This approach complements existing methods by relaxing a number of strong requirements on the part of the theory, otherwise … regression theory, the proposed method is somewhat data intensive. We use our proposed method to estimate the marginal propensity …

accumulation in a structural life-cycle model. We use two complementary estimation strategies: first, we estimate the Euler equation … substantially higher than without temptation. Finally, our Method of Simulated Moments estimation is able to match well the life … the importance of temptation are robust to the different estimation strategies. …

The influential economic theory of intergenerational transfers predicts a negative connection between credit constraints … higher than for unconstrained families, contrary to what the theory implies. This means children from constrained families …

are estimated, GMM estimators are almost always used. We examine the validity of using likelihood based estimation in this …