Empirical Likelihood For Regression Discontinuity Design,
2011
Yale University
Empirical Likelihood For Regression Discontinuity Design, Taisuke Otsu, Ke-Li Xu
Cowles Foundation Discussion Papers
This paper proposes empirical likelihood based inference methods for causal effects identified from regression discontinuity designs. We consider both the sharp and fuzzy regression discontinuity designs and treat the regression functions as nonparametric. The proposed inference procedures do not require asymptotic variance estimation and the confidence sets have natural shapes, unlike the conventional Wald-type method. These features are illustrated by simulations and an empirical example which evaluates the effect of class size on pupils’ scholastic achievements. Bandwidth selection methods, higher-order properties, and extensions to incorporate additional covariates and parametric functional forms are also discussed.
Endogenous Leverage: Var And Beyond,
2011
Yale University
Endogenous Leverage: Var And Beyond, Ana Fostel, John Geanakoplos
Cowles Foundation Discussion Papers
We study endogenous leverage in a general equilibrium model with incomplete markets. We prove that in any binary tree leverage emerges in equilibrium at the maximum level such that VaR = 0, so there is no default in equilibrium, provided that agents get no utility from holding the collateral. When the collateral does affect utility (as with housing) or when agents have sufficiently heterogenous beliefs over three or more states, VaR = 0 fails to hold in equilibrium. We study commonly used examples: an economy in which investors have heterogenous beliefs and a CAPM economy consisting of investors with different …
Examples Of L 2 -Complete And Boundedly-Complete Distributions,
2011
Yale University
Examples Of L 2 -Complete And Boundedly-Complete Distributions, Donald W.K. Andrews
Cowles Foundation Discussion Papers
Completeness and bounded-completeness conditions are used increasingly in econometrics to obtain nonparametric identification in a variety of models from nonparametric instrumental variable regression to non-classical measurement error models. However, distributions that are known to be complete or boundedly complete are somewhat scarce. In this paper, we consider an L 2 -completeness condition that lies between completeness and bounded completeness. We construct broad (nonparametric) classes of distributions that are L 2 -complete and boundedly complete. The distributions can have any marginal distributions and a wide range of strengths of dependence. Examples of L 2 -incomplete distributions also are provided.
Dynamic Strategic Information Transmission,
2011
Yale University
Dynamic Strategic Information Transmission, Mikhail Golosov, Vasiliki Skreta, Aleh Tsyvinski, Andrea Wilson
Cowles Foundation Discussion Papers
This paper studies strategic information transmission in a dynamic environment where, each period, a privately informed expert sends a message and a decision maker takes an action. Our main result is that, in contrast to a static environment, full information revelation is possible. The gradual revelation of information and the eventual full revelation is supported by the dynamic rewards and punishments. The construction of a fully revealing equilibrium relies on two key features. The first feature is that the expert is incentivized, via appropriate actions, to join separable groups in which she initially pools with far-away types, then later reveals …
A Practical Asymptotic Variance Estimator For Two-Step Semiparametric Estimators,
2011
Yale University
A Practical Asymptotic Variance Estimator For Two-Step Semiparametric Estimators, Daniel Ackerberg, Xiaohong Chen, Jinyong Hahn
Cowles Foundation Discussion Papers
The goal of this paper is to develop techniques to simplify semiparametric inference. We do this by deriving a number of numerical equivalence results. These illustrate that in many cases, one can obtain estimates of semiparametric variances using standard formulas derived in the already-well-known parametric literature. This means that for computational purposes, an empirical researcher can ignore the semiparametric nature of the problem and do all calculations “as if” it were a parametric situation. We hope that this simplicity will promote the use of semiparametric procedures.
Labor Market Effects Of The World Cup: A Sectoral Analysis,
2011
College of the Holy Cross
Labor Market Effects Of The World Cup: A Sectoral Analysis, Robert Baumann, Bryan Engelhardt, Victor Matheson
Economics Department Working Papers
This paper provides an empirical examination of impact the 1994 FIFA World Cup in the United States on local employment. In contrast to ex ante economic impact reports that suggest large increases in employment due to the tournament, an ex post examination of employment in 9 host metropolitan areas finds no significant impact on employment from hosting World Cup games. Furthermore, an analysis of employment in specific sectors of the economy finds no impact from hosting games on employment in the leisure and hospitality and professional and business services sectors but a statistically significant negative impact on employment in the …
The Practical Pev: Removing Barriers To Plug-In Electric Vehicle Charging And Ownership,
2011
Pomona College
The Practical Pev: Removing Barriers To Plug-In Electric Vehicle Charging And Ownership, Stephen Parry
Pomona Senior Theses
The paradigm of personal transportation is changing. Electric vehicles are here. The arrival of the Tesla Roadster, Nissan Leaf, and Chevy Volt has changed the way in which we have to think about the energy that fuels our transportation needs. As PEVs find their way into garages this year and especially in the coming years, the neighborhood, city, state, and regional electric infrastructure will take on a new importance for many people as their interactions with it become significantly more complex and intimate as a result of regular electric vehicle charging.
Economic Policies To Address The Environmental Consequences Of Global Reuse,
2011
Bucknell University
Economic Policies To Address The Environmental Consequences Of Global Reuse, Thomas C. Kinnaman
Faculty Journal Articles
This paper summarizes a two-country model that solves for optimal tax rates to achieve efficiency in an economy with international trade in used consumer electronics. If only the developed nation can tax the disposal of e-waste, then the global Pareto Optimum can be obtained by either imposing an import tariff on used consumer electronics or subsidizing the return of e-waste for disposal in the developed country. The global Pareto Optimum can also be obtained by reducing the disposal tax in the developed country to a level below the external marginal cost of disposal should no other policy option be available.
Penalized Sieve Estimation And Inference Of Semi-Nonparametric Dynamic Models: A Selective Review,
2011
Yale University
Penalized Sieve Estimation And Inference Of Semi-Nonparametric Dynamic Models: A Selective Review, Xiaohong Chen
Cowles Foundation Discussion Papers
In this selective review, we first provide some empirical examples that motivate the usefulness of semi-nonparametric techniques in modelling economic and financial time series. We describe popular classes of semi-nonparametric dynamic models and some temporal dependence properties. We then present penalized sieve extremum (PSE) estimation as a general method for semi-nonparametric models with cross-sectional, panel, time series, or spatial data. The method is especially powerful in estimating difficult ill-posed inverse problems such as semi-nonparametric mixtures or conditional moment restrictions. We review recent advances on inference and large sample properties of the PSE estimators, which include (1) consistency and convergence rates …
Cultural Compatibility: Economic Development In Eastern Europe,
2011
Utah State University
Cultural Compatibility: Economic Development In Eastern Europe, Daniel Brilliant
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
The objective of Daniel Brilliant’s research is to explore the relationship between culture and economic prosperity in the former communist countries of Eastern Europe. Learning why some of these countries do better than others is of interest in discovering what causes a country’s economy to grow in general. Knowing the causes of economic growth helps in determining what policies, if any, can be adopted by a country to help promote economic growth. Some have theorized that government policies are at the heart of prosperity. Others have speculated that cultural factors play a large role in determining if such policies will …
Finger Lickin’ Good: An Analytical Investigation Into The Urban Diet,
2011
Rollins College
Finger Lickin’ Good: An Analytical Investigation Into The Urban Diet, Jennifer T.R. Tomlinson
Master of Liberal Studies Theses
In this analysis, the origins, customs and implications of fast-food culture will be explored with important focus on the customs of fast-food urban eating. Research indicates that lower-income urban areas are more likely to consume fast-food. The high consumption of fast-food subsequently results in the development of social and economical implications, which include health implications, economic dilemmas, a disconnection between consumers and their consumption and issues of social classification. This analysis also explores the customs of fast-food culture of Pine Hills, Florida with added emphasis on Pine Hills’ cultural uniqueness.
The Impact Of Trade Costs In Indonesian Agri-Food Sectors: An Interregional Cge Analysis,
2011
Clemson University
The Impact Of Trade Costs In Indonesian Agri-Food Sectors: An Interregional Cge Analysis, Irlan Rum
All Theses
An interregional Computable General Equilibrium (CGE) approach is used to measure the impact of variable internal trade costs have on regional consumer welfare and interregional market integration within the Indonesian economy. Existing high interregional price differences in the agri-food markets suggest the presence of variable internal trade costs, which serve as effective barriers to interregional trade. Given the important role of agri-food markets in both food security and income generation for rural households, these price differences can have significant welfare impacts on both producers and consumers. Reducing the costs of trade between Indonesia's various regions could facilitate interregional trade. Trade …
Why Pay For Paper? An Analysis Of The Internet's Effect On Print Newspaper Subscriber Retention,
2011
Clemson University
Why Pay For Paper? An Analysis Of The Internet's Effect On Print Newspaper Subscriber Retention, Kevin Payne
All Theses
The goal of this paper is to quantify the effect that increases in home internet access had on the print newspaper subscriber retention for an anonymous newspaper during the years 1998 through 2003. Using weekly, subscriber-level transaction data from the newspaper and internet usage statistics from the Current Population Survey Internet and Computer Use Supplements, a discrete-time duration model is used to estimate the effect that home internet access had on the probability of a current subscriber canceling her subscription. I find that on average, increasing the probability of internet access from the 10th to the 90th percentile value increases …
The Impacts Of Drinking Alcohol, Using Marijuana, And Smoking Cigarettes As A Teenager On The Educational Attainment And The Income Of Young Adults,
2011
Clemson University
The Impacts Of Drinking Alcohol, Using Marijuana, And Smoking Cigarettes As A Teenager On The Educational Attainment And The Income Of Young Adults, Thomas Carnot
All Theses
It is widely believed that activities such as drinking alcohol, smoking cigarettes, and using marijuana during the teenage years have a harmful effect on a youth's development, thus damaging his or her value in the labor market once the individual reaches adulthood. There have been several studies in the past that have looked into the consequences of partaking in such activities during both the adult and college years, but this paper will investigate how the use of alcohol, marijuana, and cigarettes at the age of 16 affects the average individual's future income and the amount of education completed by the …
Domestic Determinants Of Preferential Trade Agreements,
2011
Clemson University
Domestic Determinants Of Preferential Trade Agreements, J Vomocil
All Theses
The purpose of this paper is to expand previous research on the economic determinants of preferential trade agreements, both by using a updated data set and also by including new potential non-trade and domestic explanatory variables. I find that the differences in primary market sectors of trading partners, the differences in level of infrastructure, the size of countries' agricultural sectors, and differences in countries' degree of democratization are all significant factors in bilateral PTA creation, along with several other variables. While results may not be as strong as in earlier studies, there are several plausible explanations for this, and the …
Pirates And Traders: Some Economics Of Pirate-Infested Seas,
2011
Singapore Management University
Pirates And Traders: Some Economics Of Pirate-Infested Seas, Brishti Guha, Ashok S. Guha
Research Collection School Of Economics
Even where all agents are risk-neutral, merchants can insure themselves against piracy. Such self-insurance is surprisingly invulnerable to moral hazard. Further, there exist a patrolling intensity and/or penalties for captured pirates which, along with mercantile self-insurance, could eliminate piracy.
The Efficiency Of A Group-Specific Mandated Benefit Revisited: The Effect Of Infertility Mandates,
2011
Texas A&M University
The Efficiency Of A Group-Specific Mandated Benefit Revisited: The Effect Of Infertility Mandates, Joanna N. Lahey
Upjohn Institute Working Papers
This paper examines the labor market effects of state health insurance mandates that increase the cost of employing a demographically identifiable group. State mandates requiring that health insurance plans cover infertility treatment raise the relative cost of insuring older women of child-bearing age. Empirically, wages in this group are unaffected, but their total labor input decreases. Workers do not value infertility mandates at cost, and so will not take wage cuts in exchange, leading employers to decrease their demand for this affected and identifiable group. Differences in the empirical effects of mandates found in the literature are explained by a …
Preventing Pandemics: Contributing Factors To Susceptibility During The H1n1 Pandemic,
2011
Syracuse University
Preventing Pandemics: Contributing Factors To Susceptibility During The H1n1 Pandemic, Melanie A. Zilora
Honors Capstone Projects - All
This paper uses Poisson and ordinary least squares (OLS) regression techniques on panel data from the United Nations World Health Organization’s FluNet to evaluate factors contributing to a country’s H1N1 influenza (swine flu) pandemic outcomes. Countries with higher development (as measured by gross domestic product and the United Nations Human Development Program’s development index) and higher mean annual temperature (as measured in the capital city) tended to have an earlier first reporting of cases. Though subject to reporting biases, the results also suggest that mass vaccinations have a negative effect on weekly reported cases. Countries that would vaccinate in the …
Test Of Hypotheses In Panel Data Models When The Regressor And Disturbances Are Possibly Nonstationary,
2011
Syracuse University
Test Of Hypotheses In Panel Data Models When The Regressor And Disturbances Are Possibly Nonstationary, Badi H. Baltagi, Chihwa Kao, Sanggon Na
Center for Policy Research
This paper considers the problem of hypotheses testing in a simple panel data regression model with random individual effects and serially correlated disturbances. Following Baltagi, Kao and Liu (2008), we allow for the possibility of non-stationarity in the regressor and/or the disturbance term. While Baltagi et al. (2008) focus on the asymptotic properties and distributions of the standard panel data estimators, this paper focuses on test of hypotheses in this setting. One important finding is that unlike the time series case, one does not necessarily need to rely on the “super-efficient” type AR estimator by Perron and Yabu (2009) to …
Immigration And Illicit Drugs: Two Case Studies And Their Connection With Select European Countries, And Potential Implications For American Policy,
2011
Clemson University
Immigration And Illicit Drugs: Two Case Studies And Their Connection With Select European Countries, And Potential Implications For American Policy, Seth Huffman
All Theses
Two topics of much debate in the United States, immigration and drug prohibition, are issues that all countries must scrutinize. I have taken two Euro areas, Scandinavia and Portugal, and have attempted to use them as templates for the United States so to draw potential policy implications. Scandinavian countries can be characterized as having pull factors in the form of welfare policies, which draw immigrants to those countries. It is hard to deduce whether this has a negative effect on the country because immigrants, not only use services, but are also consumers. This creates a problem as we try to …
