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Full-Text Articles in Econometrics
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 …
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.