24,115 research outputs found

    Semiparametric Efficiency Bound for Models of Sequential Moment Restrictions Containing Unknown Functions

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    This paper computes the semiparametric efficiency bound for finite dimensional parameters identified by models of sequential moment restrictions containing unknown functions. Our results extend those of Chamberlain (1992b) and Ai and Chen (2003) for semiparametric conditional moment restriction models with identical information sets to the case of nested information sets, and those of Chamberlain (1992a) and Brown and Newey (1998) for models of sequential moment restrictions without unknown functions to cases with unknown functions of possibly endogenous variables. Our bound results are applicable to semiparametric panel data models and semiparametric two stage plug-in problems. As an example, we compute the efficiency bound for a weighted average derivative of a nonparametric instrumental variables (IV) regression, and find that the simple plug-in estimator is not efficient. Finally, we present an optimally weighted, orthogonalized, sieve minimum distance estimator that achieves the semiparametric efficiency bound.Sequential moment models, Semiparametric efficiency bounds, Optimally weighted orthogonalized sieve minimum distance, Nonparametric IV regression, Weighted average derivatives, Partially linear quantile IV

    Semiparametric efficiency bound for models of sequential moment restrictions containing unknown functions

    Get PDF
    This paper computes the semiparametric efficiency bound for finite dimensional parameters identified by models of sequential moment restrictions containing unknown functions. Our results extend those of Chamberlain (1992b) and Ai and Chen (2003) for semiparametric conditional moment restriction models with identical information sets to the case of nested information sets, and those of Chamberlain (1992a) and Brown and Newey (1998) for models of sequential moment restrictions without unknown functions to cases with unknown functions of possibly endogenous variables. Our bound results are applicable to semiparametric panel data models and semiparametric two stage plug-in problems. As an example, we compute the efficiency bound for a weighted average derivative of a nonparametric instrumental variables (IV) regression, and find that the simple plug-in estimator is not efficient. Finally, we present an optimally weighted, orthogonalized, sieve minimum distance estimator that achieves the semiparametric efficiency bound.

    The uneven price impact of energy efficiency ratings on housing segments and implications for public policy and private markets

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    In the literature, there is extensive, although in some cases inconclusive, evidence on the impact of Energy Performance Certificates (EPC) on housing prices. Nonetheless, the question of whether such an impact is homogenous across residential segments remains highly unexplored. This paper addresses this latter issue utilizing multifamily listing data in metropolitan Barcelona. In doing so, first the entire sample is analyzed using a hedonic model. Second, the sample is split on the basis of a multivariate segmentation. Finally, separated hedonic models are specified again. The results suggest that in general, there is a modest impact of EPC ratings on listing prices, nonetheless it is not homogeneous across housing segments: (1) for the most modern apartments, with state-of-the-art features and active environmental comfort, energy ratings seem to play a null role in the formation of prices; (2) conversely, for the cheapest apartments, apartments boasting the most basic features, and apartments located in low-income areas, the “brown discount” is enormously significant, potentially depreciating the equity of those who have the least resources to carry out an energy retrofit. These results have implications for the assessment of the EPBD and its Spanish transposition, since a very well-intentioned environmental policy could have potentially harmful social repercussions in the absence of corrective measures.Peer ReviewedPostprint (published version

    Thermal effects on bipartite and multipartite correlations in fiber coupled cavity arrays

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    We investigate the thermal influence of fibers on the dynamics of bipartite and multipartite correlations in fiber coupled cavity arrays where each cavity is resonantly coupled to a two-level atom. The atom-cavity systems connected by fibers can be considered as polaritonic qubits. We first derive a master equation to describe the evolution of the atom-cavity systems. The bipartite (multipartite) correlations is measured by concurrence and discord (spin squeezing). Then, we solve the master equation numerically and study the thermal effects on the concurrence, discord, and spin squeezing of qubits. On the one hand, at zero temperature, there are steady-state bipartite and multipartite correlations. One the other hand, the thermal fluctuations of a fiber may blockade the generation of entanglement of two qubits connected directly by the fiber while the discord can be generated and stored for a long time. This thermal-induced blockade effects of bipartite correlations may be useful for quantum information processing. The bipartite correlations of a longer chain of qubits is more robust than a shorter one in the presence of thermal fluctuations

    A slave mode expansion for obtaining ab-initio interatomic potentials

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    Here we propose a new approach for performing a Taylor series expansion of the first-principles computed energy of a crystal as a function of the nuclear displacements. We enlarge the dimensionality of the existing displacement space and form new variables (ie. slave modes) which transform like irreducible representations of the space group and satisfy homogeneity of free space. Standard group theoretical techniques can then be applied to deduce the non-zero expansion coefficients a priori. At a given order, the translation group can be used to contract the products and eliminate terms which are not linearly independent, resulting in a final set of slave mode products. While the expansion coefficients can be computed in a variety of ways, we demonstrate that finite difference is effective up to fourth order. We demonstrate the power of the method in the strongly anharmonic system PbTe. All anharmonic terms within an octahedron are computed up to fourth order. A proper unitary transformation demonstrates that the vast majority of the anharmonicity can be attributed to just two terms, indicating that a minimal model of phonon interactions is achievable. The ability to straightforwardly generate polynomial potentials will allow precise simulations at length and time scales which were previously unrealizable
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