Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Institution
Articles 1 - 6 of 6
Full-Text Articles in Econometrics
Regression Anatomy, Revealed, Valerio Filoso
Regression Anatomy, Revealed, Valerio Filoso
Valerio Filoso
The Regression Anatomy (RA) theorem (Angrist and Pischke 2009) is an alternative formulation of the Frisch-Waugh-Lovell (FWL) theorem (Frisch and Waugh 1933; Lovell 1963), a key finding in the algebra of OLS multiple regression models. In this paper, we present a command, reganat, to implement graphically the method of RA. This addition complements the built-in Stata command avplot in the validation of linear models, producing bidimensional scatterplots and regression lines obtained controlling for the other covariates, along with sev- eral fine-tuning options. Moreover, the article provides (1) a fully worked-out proof of the RA theorem and (2) an explanation of …
Equilibrio, Stabilità E Profitto: Una Ricostruzione Austriaca, Valerio Filoso
Equilibrio, Stabilità E Profitto: Una Ricostruzione Austriaca, Valerio Filoso
Valerio Filoso
No abstract provided.
On The Demand Of Irrational Economics: Naomi Klein Vs. Milton Friedman, Valerio Filoso
On The Demand Of Irrational Economics: Naomi Klein Vs. Milton Friedman, Valerio Filoso
Valerio Filoso
The persistence of demand for economic irrationality, as expressed by the big success gained by the literature on no-globalism, is an empirical puzzle and the recent book by Naomi Klein "The Shock Doctrine" (2007) is a rampant example. An explanation for this anomaly is provided by the theory of rational irrationality advanced by Bryan Caplan (Caplan, 2007). While in the field of natural sciences confutation of wrong theories sets them apart forever, in the field of economics rebutted theories can still have an appeal on nonprofessional readers, even though the underlying theory has already been proved wrong. This is due …
The Corporate Income Tax: An Entrepreneurial Perspective, Valerio Filoso
The Corporate Income Tax: An Entrepreneurial Perspective, Valerio Filoso
Valerio Filoso
While corporate income taxation is a major issue in the debate over international finance, economic theory has no clear stance on who bears its burden. On balance, economists seem still more prone to accept that taxing profits does not affect corporations’ outcomes. This paper makes three cases for non-neutrality. First, since corporate income taxation is asymmetric between profit and loss, the tax rate may change the ranking of alternative investments. Secondly, the imperfect observ- ability of the use of internal resources makes pure economic profits very difficult to detect. Thirdly, when the pervasive role of entrepreneurship is fully taken into …
Divorce And The Option Value Of Marital Search, Valerio Filoso
Divorce And The Option Value Of Marital Search, Valerio Filoso
Valerio Filoso
This work tests whether the introduction of divorce law changes the timing of marital search. Rational agents should adjust to the divorce risk by increasing the average search spell, whereas option value theory stresses the role of irreversible investments: in this case, the new exit option should result in shorter spells. Using a dynamic model of marital search, a new data set of retrospective individual Italian data, and two robust statistical specifications, we find strong evidence that the legal innovation actually lowered the age at marriage, thereby worsening the level of marital matching, and possibly reinforcing self-fulfilling prophecies of divorce.
Bright And Wealthy: Exploring Assortative Mating, Valerio Filoso
Bright And Wealthy: Exploring Assortative Mating, Valerio Filoso
Valerio Filoso
No abstract provided.