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Full-Text Articles in Econometrics
Clustering And Polarization In The Distribution Of Output: A Multivariate Perspective, Michele Battisti, Christopher Parmeter
Clustering And Polarization In The Distribution Of Output: A Multivariate Perspective, Michele Battisti, Christopher Parmeter
Christopher F. Parmeter
No abstract provided.
Does Education Matter For Economic Growth?, Michael Delgado, Daniel J. Henderson, Christopher Parmeter
Does Education Matter For Economic Growth?, Michael Delgado, Daniel J. Henderson, Christopher Parmeter
Christopher F. Parmeter
Empirical economic research typically uses education as a proxy for human capital. However, research aimed at validating the inclusion of education measures in growth regressions has yet to reach a consensus, often finding that the sign and significance of education depends on the sample of observations or the specification of the model. The goal of this paper is to reconcile the conflicting empirical evidence and validate (or invalidate) the inclusion of education in international growth regressions by providing a rigorous and systematic search for significance of education. Using methods which are largely immune to model misspecification, we examine six of …
Gdp Clustering: A Reappraisal, Michele Battisti, Christopher Parmeter
Gdp Clustering: A Reappraisal, Michele Battisti, Christopher Parmeter
Christopher F. Parmeter
No abstract provided.
Comparisons Of Model Averaging Techniques: Assessing Growth Determinants, Shahram Amini, Christopher Parmeter
Comparisons Of Model Averaging Techniques: Assessing Growth Determinants, Shahram Amini, Christopher Parmeter
Christopher F. Parmeter
This paper replicates three important studies on growth theory uncertainty that employed Bayesian model averaging tools. We compare these results with estimates obtained using recently developed frequentist and alternative Bayesian model averaging techniques. Overall, we successfully replicate all three studies using freely available software in the statistical environment R, provide an easily implementable algorithm to operationalize the frequentist model averaging methods and find that the sign and magnitude of these new estimates are reasonably close to those produced via traditional Bayesian methods.
Income Polarization, Convergence Tools And Mixture Analysis, Michele Battisti, Christopher Parmeter
Income Polarization, Convergence Tools And Mixture Analysis, Michele Battisti, Christopher Parmeter
Christopher F. Parmeter
Modeling the cross-country distribution of per capita using mixture analysis provides a natural platform for the recovery or detection of clubs of countries. Unfortunately, these mixture methods, when based on a strictly univariate approach are limiting towards one's ability to learn about the underlying process of the emergence of the clubs. This paper takes a fresh look at the sources contributing to the emergence of clubs in the distribution of cross-country output using bivariate and multivariate mixture analysis.
Modes, Weighted Modes, And Calibrated Modes: Evidence Of Clustering Using Modality Tests, Daniel Henderson, Christopher Parmeter, R. Russell
Modes, Weighted Modes, And Calibrated Modes: Evidence Of Clustering Using Modality Tests, Daniel Henderson, Christopher Parmeter, R. Russell
Christopher F. Parmeter
We apply recent results from the statistics literature to test for multimodality of worldwide distributions of several (unweighted and population-weighted) measures of labor productivity. Specifically, we employ Silverman (Bump) and Dip modality tests, calibrated to correct for their incorrect asymptotic levels. We show that test results are sensitive to the test statistic employed and to population weighting. But regardless of the statistical criterion used, multimodality is present throughout, or emerges during, our sample period (1960–2000). We also examine (a) movements of economies between modal clusters and (b) relationships between certain key development factors and multimodality of the productivity distribution.
The Effect Of Measurement Error On The Shape Of The World Distribution Of Income, Christopher Parmeter
The Effect Of Measurement Error On The Shape Of The World Distribution Of Income, Christopher Parmeter
Christopher F. Parmeter
This note examines the robustness that two modes exist in the world's density of per capita income. Our results suggest that this bimodal feature is robust and are arrived at using recently developed nonparametric deconvolution techniques.