We study the incidental parameter problem in "three-way" Poisson Pseudo-Maximum Likelihood "PPML" gravity models recently recommended for identifying the effects of trade policies.
We propose a nonparametric inference method for causal effects of continuous treatment variables, under unconfoundedness and in the presence of high-dimensional or nonparametric nuisance parameters.
We show the extent of errors made in the award of disability insurance using matched survey-administrative data. False rejections (Type I errors) are widespread, and there are large gender differences in these type I error rates.
The UK taxes business income at much lower rates than employment income. In this paper we describe the problems caused by that differentiation and assess the main arguments used to defend it. We summarise the Mirrlees Review’s proposals for radical reform that would align tax rates across legal forms while protecting incentives to save and invest. Finally, we consider the obstacles to implementing such a radical reform and suggest an approach to making progress in practice.
We compare two groups of the non-student Korean population—native-born South Koreans (SK) and North Korean refugees (NK)—with contrasting institutional and cultural backgrounds.
We investigate the consequences of discreteness in the assignment variable in regression-discontinuity designs for cases where the outcome variable is itself discrete.
Recent research underscores the sensitivity of conclusions drawn from the application of econometric methods devised for quantitative outcome variables to data featuring ordinal outcomes. The issue is particularly acute in the analysis of happiness data, for which no natural cardinal scale exists, and which is thus routinely collected by ordinal response. With ordinal responses, comparisons of means across different populations and the signs of OLS regression coefficients have been shown to be sensitive to monotonic transformations of the cardinal scale onto which ordinal responses are mapped.
We propose a solution to the measurement error problem that plagues the estimation of the relation between the expected return of the stock market and its conditional variance due to the latency of these conditional moments.
This paper presents a weighted optimization framework that unifies the binary, multi-valued, continuous, as well as mixture of discrete and continuous treatment, under unconfounded treatment assignment.
We present a general framework for studying regularized estimators; such estimators are pervasive in estimation problems wherein “plug-in” type estimators are either ill-defined or ill-behaved.
In this paper we analyze a discrete choice model for partially ordered alternatives. The alternatives are differentiated along two dimensions, the first an unordered “horizontal” dimension, and the second an ordered “vertical” dimension.
This paper investigates how different income shocks shape consumption dynamics over the business cycle. First, we break new ground by creating a unique, panel dataset of transitory and permanent income shocks, using subjective income expectations from the Dutch Household Survey.
In the UK, those born between the 1930s and 1950s have seen generation-on-generation increases in wealth, while those born more recently appear to have accumulated no more wealth than their predecessors had done by the same age.
