We study testable implications of multiple equilibria in discrete games with incomplete information. Unlike de Paula and Tang (2012), we allow the players’ private signals to be correlated.
In this paper, we estimate the effect of house prices on whether or not young adults actively save in a private pension. We use job-level data from a survey of employers, matched to average house prices at the level of an individuals’ location of employment, exploiting geographical variation in local house price movements in England over the decade 1997 to 2007.
We examine the extent to which owner-occupiers in their 50s and 60s change their private pension saving when they complete repayment of the mortgage on their primary residence. Using panel data from a household survey, the English Longitudinal Study of Ageing, we identify those who completed repayment of their mortgage as anticipated two years prior.
We provide estimation methods for panel nonseparable models based on low-rank factor structure approximations. The factor structures are estimated by matrix-completion methods to deal with the computational challenges of principal component analysis in the presence of missing data.
This working paper looks at the marginal propensity to consume from a representative sample of UK adults in July 2020. Reported MPCs are low, around 11% on average. They are higher, but still modest, for individuals in households with high current needs.
This working paper studies the impact of child work on cognitive development in four Low- and Middle-Income Countries. We advance the literature by using cognitive test scores collected regardless of school attendance.
We study consumer spending dynamics during the first infection wave of the COVID-19 pandemic using household scanner data covering fast-moving consumer goods in the United Kingdom.
Economists are often interested in estimating averages with respect to distributions of unobservables. Examples are moments of individual fixed-effects, average partial effects in discrete choice models, and counterfactual simulations in structural models.
We use real-time scanner data in Great Britain during the COVID-19 pandemic to investigate the drivers of the inflationary spike at the beginning of lockdown and to quantify the impact of high-frequency changes in shopping behaviours and promotions on inflation measurement.
In this paper, I study the effect of unfinished sewerage infrastructure
on early-life mortality in Peru. I compile several sources of administrative panel data for 1,400 districts spanning 2005–2015, and I rely on the budgetary plans and timing of expenditure for 6,000 projects to measure unfinished projects and those completed in a given district.
In this paper we study the contribution of migrants to the rise in UK top incomes. Using administrative data on the universe of UK taxpayers we show migrants are over-represented at the top of the income distribution, with migrants twice as prevalent in the top 0.1% as anywhere in the bottom 97%.
Many empirical questions concern target parameters selected through optimization. For example, researchers may be interested in the effectiveness of the best policy found in a randomized trial, or the best-performing investment strategy based on historical data.
This paper contributes to a small but growing body of work addressing this issue by exploring the potential for community detection algorithms to delineate labour submarkets using observed patterns of labour market mobility.
Recent contributions using police recorded calls-for-service and/or crime data to estimate impacts of COVID-19 lockdowns on the incidence of domestic violence (DV) have reported relatively modest effects.
Roughly one third of a cohort drop out of high school across OECD countries, and developing effective tools to address prime-aged high school dropouts is a key policy question.
This paper combines novel data on the time use, home learning practices and economic circumstances of families with children during the COVID-19 lockdown with pre-lockdown data from the UK Time User Survey to characterise the time use of children and how it changed during lockdown.
