Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Institution
- Publication Year
- Publication
- Publication Type
Articles 31 - 34 of 34
Full-Text Articles in Econometrics
A Semi-Parametric Estimator For Censored Selection Models With Endogeneity, Myoung-Jae Lee, Francis Vella
A Semi-Parametric Estimator For Censored Selection Models With Endogeneity, Myoung-Jae Lee, Francis Vella
Research Collection School Of Economics
We propose a semi-parametric least-squares estimator for a censored-selection (type 3 tobit) model under the mean independence of the outcome equation error u from the regressors given the selection indicator and its error term ɛ. This assumption is relatively weak in comparison to alternative estimators for this model and allows certain unknown forms of heteroskedasticity, an asymmetric error distribution, and an arbitrary relationship between the u and ɛ. The estimator requires only one-dimensional smoothing on the estimate of ɛ. We generalize the estimator to allow for an endogenous regressor whose equation contains an error w related to u and discuss …
Panel Unit Root Tests And Spatial Dependence, Badi H. Baltagi, Georges Bresson, Alain Pirotte
Panel Unit Root Tests And Spatial Dependence, Badi H. Baltagi, Georges Bresson, Alain Pirotte
Center for Policy Research
This paper studies the performance of panel unit root tests when spatial effects are present that account for cross-section correlation. Monte Carlo simulations show that there can be considerable size distortions in panel unit root tests when the true specification exhibits spatial error correlation. These tests are applied to a panel data set on net real income from the 1000 largest French communes observed over the period 1985-1998.
Q-Convergence With Interquartile Ranges, Sung Jin Kang, Myoung-Jae Lee
Q-Convergence With Interquartile Ranges, Sung Jin Kang, Myoung-Jae Lee
Research Collection School Of Economics
We introduce a new convergence concept ‘Q-convergence’ which defines convergence in national incomes as a shrinking interquartile range (IQR) of the national income distribution. Compared with the other convergence definitions in the literature, Q-convergence has the following advantages. First, IQR, which represents dispersion and inequality of the income distribution, is also closely linked to the two-group clustering with the lower and upper quartiles being the ‘centers’ of the two groups. Second, IQR is equivariant to increasing transformations and thus reconciles better conflicting empirical findings using level or log data. Third, IQR is insensitive to outliers, leading to robust statistical inferences. …
Analysis Of Private Transfers With Panel Fixed Effect Censored Model Estimator, Sung Jin Kang, Myoung-Jae Lee
Analysis Of Private Transfers With Panel Fixed Effect Censored Model Estimator, Sung Jin Kang, Myoung-Jae Lee
Research Collection School Of Economics
Understanding private transfer is important for safety-net policies because private transfer provides economic benefits similar to those of public programs such as unemployment insurance and pension. Applying Honoré’s [Econometrica 60 (1992) 533] panel fixed-effect censored model estimator to Korean data, we show that private transfer is altruistically motivated and there is a strong crowding-out effect of public transfer on private transfer. We also find that low-income people suffered to different degrees during the financial crisis period of 1997 to 1998. This finding and the crowding-out effect may be taken as failures of the Korean public transfer programs during the period.