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An alternative measure of intergenerational income mobility based on a random...
We propose an alternative measure of the degree to which income status is transmitted from one generation to another. Our indicator of intergenerational income mobility is based... -
Learning from peers in signaling game experiments (replication data)
We investigate peer group effects in laboratory experiments based on Milgrom and Roberts' (1982, Econometrica 50: 443-459) entry limit pricing game. We generalize Heckman's... -
Evaluating Californian under-age drunk driving laws: endogenous policy lags (...
When evaluating the effectiveness of a policy, most studies assume that the policy effect begins with the date of enactment. However, there often exists an endogenous policy... -
On the size distortion of tests after an overidentifying restrictions pretest...
In the linear instrumental variables model, we provide theoretical and Monte Carlo evidence for the size distortion of a two-stage hypothesis test that uses a test of... -
Labor market entry and earnings dynamics: Bayesian inference using mixtures-o...
This paper analyzes patterns in the earnings development of young labor market entrants over their life cycle. We identify four distinctly different types of transition patterns... -
Is God in the details? A reexamination of the role of religion in economic gr...
Barro and McCleary (2003, Religion and economic growth across countries. American Journal of Sociology 68: 760-781) is a key research contribution in the new literature... -
Estimating Engel curves under unit and item nonresponse (replication data)
This paper estimates food Engel curves using data from the first wave of the Survey on Health, Aging and Retirement in Europe (SHARE). Our statistical model simultaneously takes... -
Finite-sample comparison of alternative methods for estimating dynamic panel ...
The Wooldridge method is based on a simple and novel strategy to deal with the initial values problem in nonlinear dynamic random-effects panel data models. The characteristic... -
Multivariate high-frequency-based volatility (HEAVY) models (replication data)
This paper introduces a new class of multivariate volatility models that utilizes high-frequency data. We discuss the models' dynamics and highlight their differences from... -
On the forecasting accuracy of multivariate GARCH models (replication data)
This paper addresses the question of the selection of multivariate generalized autoregressive conditional heteroskedastic (GARCH) models in terms of variance matrix forecasting... -
Realized GARCH: a joint model for returns and realized measures of volatility...
We introduce a new framework, Realized GARCH, for the joint modeling of returns and realized measures of volatility. A key feature is a measurement equation that relates the... -
Risk aversion, intertemporal substitution, and the term structure of interest...
We build and estimate an equilibrium model of the term structure of interest rates based on a recursive utility specification. We contrast it with an arbitrage-free model, where... -
Testing distributional assumptions: A GMM aproach (replication data)
We consider testing distributional assumptions by using moment conditions. A general class of moment conditions satisfied under the null hypothesis is derived and connected to... -
INDIVIDUAL VERSUS AGGREGATE INCOME ELASTICITIES FOR HETEROGENEOUS POPULATIONS...
This paper deals with different concepts of income elasticities of demand for a heterogeneous population and the relationship between individual and aggregate elasticities. In... -
A PANEL DATA APPROACH FOR PROGRAM EVALUATION: MEASURING THE BENEFITS OF POLIT...
We propose a simple-to-implement panel data method to evaluate the impacts of social policy. The basic idea is to exploit the dependence among cross-sectional units to construct... -
GMM with many weak moment conditions: Replication and application of Newey an...
In a recent article Newey and Windmeijer (Generalized method of moments with many weak moment conditions. Econometrica 2009; 77(3): 687-719) propose a new variance estimator for... -
Innovation and competition: An unstable relationship (replication data)
This paper analyzes how the establishment of the United States Court of Appeals for the Federal Circuit in 1982 has affected the relationship between innovation and competition....
