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清晰与模糊断点回归设计的非参数贝叶斯分析AI 解读

We develop a nonparametric Bayesian analysis of regression discontinuity (RD) designs, allowing for covariates, in which we model and estimate the unknown functions of the forcing variable by basis expansion methods. In a departure from current methods, we use the entire data on the forcing variable, but we emphasize the data near the threshold by placing some knots at and near the threshold, a technique we refer to as soft-windowing. To handle the nonequally spaced knots…

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资本存量调整投资模型AI 解读

Firms' investment in plant and equipment is explained by a stock-adjustment model in which the coefficient of adjustment is allowed to vary. It is assumed that firms partially close the gap between desired and actual capital stock, but that the speed of adjustment depends on the firm's ability to procure funds at reasonable cost. A panel of individual firm responses to the McGraw-Hill plant and equipment survey is the principal data source, supplemented by financial…