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劳动供给实证模型中相互依赖行为的识别AI 解读

In this paper we test a particular form of interdependent behaviour, namely the hypothesis that individuals' choices of hours of work are influenced by the average hours of work in a social reference group. There are problems in empirically disentangling the effects of interdependent behaviour and preference variation across groups. We show that panel data or data from several points in time are needed. In the empirical analysis we combine cross-section data from 1973, 1980,…

弱工具变量下LIML与刀切工具变量估计量的小样本性质AI 解读

Using Monte Carlo simulations we study the small sample performance of the traditional TSLS, the LIML and four new jackknife IV estimators when the instruments are weak. We find that the new estimators and LIML have a smaller bias but a larger variance than the TSLS. In terms of root mean square error, neither LIML nor the new estimators perform uniformly better than the TSLS. The main conclusion from the simulations and an empirical application on labour supply functions is…

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