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不完美工具变量下的识别AI 解读

Dealing with endogenous regressors is a central challenge of applied research. The standard solution is to use instrumental variables that are assumed to be uncorrelated with unobservables. We instead allow the instrumental variable to be correlated with the error term, but we assume the correlation between the instrumental variable and the error term has the same sign as the correlation between the endogenous regressor and the error term and that the instrumental variable…

促销与消费者库存行为的影响测度AI 解读

Temporary price reductions (sales) are common for many goods and naturally result in large increases in the quantity sold.Demand estimation based on temporary price reductions may mismeasure the long run responsiveness to prices.In this paper we quantify the extent of the problem and assess its economic implications.We structurally estimate a dynamic model of consumer choice using two years of scanner data on the purchasing behavior of a panel of households.The results…

利用辅助信息构造权重以调整样本选择AI 解读

sample is not a random draw from the population of interest. Auxiliary information, in the form of moments from the population of interest, is exploited to compute weights that are proportional to the inverse probability of selection. The essential idea is to construct weights for each observation in the primary data such that the moments of the weighted data are set equal to the additional moments. The estimator is applied to the Dutch Transportation Panel, in which…

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