Robust misspecification tests for the Heckman’s two-step estimator

We construct and evaluate LM and Neyman’s C(α) tests based on bivariate Edgeworth expansions for the consistency of the Heckman’s two-step estimator in selection models, that is, for the marginal normality and linearity of the conditional expectation of the error terms. The proposed tests are robust to local misspecification in nuisance distributional parameters. Monte Carlo results show that instead of testing bivariate normality, testing marginal normality and linearity of the conditional expectations separately have a better size performance. Moreover, the robust variants of the tests have better size and similar power to non-robust tests, which determines that these tests can be successfully applied to detect specific departures from the null model of bivariate normality. We apply the tests procedures to women’s labor supply data

Nonparametric estimation of ATE and QTE: an application of Fractile Graphical Analysis

Nonparametric estimators for average and quantile treatment effects are constructed using Fractile Graphical Analysis, under the identifying assumption that selection to treatment is based on observable characteristics. The proposed method has two-steps: first, the propensity score is estimated, and second, a blocking estimation procedure using this estimate is used to compute treatment effects. In both cases, the estimators are proved to be consistent. Monte Carlo results show a better performance than other procedures based on the propensity score. Finally, these estimators are applied to a job training dataset

Library of medium-resolution fiber optic echelle spectra of F, G, K, and M field dwarfs to giants stars

We present a library of Penn State Fiber Optic Echelle (FOE) observations of a sample of field stars with spectral types F to M and luminosity classes V to I. The spectral coverage is from 3800 AA to 10000 AA with nominal a resolving power 12000. These spectra include many of the spectral lines most widely used as optical and near-infrared indicators of chromospheric activity such as the Balmer lines (H_alpha, H_beta), Ca II H & K, Mg I b triplet, Na I D_{1} and D_{2}, He I D_{3}, and Ca II IRT lines. There are also a large number of photospheric lines, which can also be affected by chromospheric activity, and temperature sensitive photospheric features such as TiO bands. The spectra have been compiled with the goal of providing a set of standards observed at medium resolution. We have extensively used such data for the study of active chromosphere stars by applying a spectral subtraction technique. However, the data set presented here can also be utilized in a wide variety of ways ranging from radial velocity templates to study of variable stars and stellar population synthesis. This library can also be used for spectral classification purposes and determination of atmospheric parameters (T_eff, log{g}, [Fe/H]). A digital version of all the fully reduced spectra is available via ftp and the World Wide Web (WWW) in FITS format.Comment: Latex file with 17 pages, 4 figures. Full postscript (text and figures) available at http://www.ucm.es/info/Astrof/fgkmsl/FOEfgkmsl.html To be published in ApJ

Informal Jobs and Trade Liberalisation in Argentina

Rapid trade liberalisation can exert profound effects on labour markets. Domestic firms, to sustain competitiveness for survival, could react through cutting labour benefits to achieve cost reductions. Alternatively, trade liberalisation may alter the industry composition of firms changing the aggregate formality rates. This paper studies the relationship between trade liberalisation and informality in Argentina. Using manufacturing industry-level data for 1992-2003, the results confirm the hypothesis that trade increases informality in industries that experience sudden foreign competition. This explains about a third of the increase in informality. Sectors with higher investment ratios are able to neutralize and reverse this effect

Instrumental variables quantile regression for panel data with measurement errors

This paper develops an instrumental variables estimator for quantile regression in panel data with fixed effects. Asymptotic properties of the instrumental variables estimator are studied for large N and T when Na/T ! 0, for some a > 0. Wald and Kolmogorov-Smirnov type tests for general linear restrictions are developed. The estimator is applied to the problem of measurement errors in variables, which induces endogeneity and as a result bias in the model. We derive an approximation to the bias in the quantile regression fixed effects estimator in the presence of measurement error and show its connection to similar effects in standard least squares models. Monte Carlo simulations are conducted to evaluate the finite sample properties of the estimator in terms of bias and root mean squared error. Finally, the methods are applied to a model of firm investment. The results show interesting heterogeneity in the Tobin’s q and cash flow sensitivities of investment. In both cases, the sensitivities are monotonically increasing along the quantiles

Argentina's default and the lack of dire consequences

We analyze the 2001 Argentine default on its foreign debt and its consequences in terms of the existing literature on sovereign debt default. It is our purpose to evaluate this experience and to see to what extent the Argentine case requires a re-thinking on the nature and consequences of defaults. We show that the Argentine case contradicts many of their standard predictions, in particular its posterior lack of access to international credit, restriction to international trade and negative economic growth. Moreover, it corroborates the historical fact that many defaulters “get away with it.

Pt-impregnated catalysts on powdery SiC and other commercial supports for the combustion of hydrogen under oxidant conditions

We report the study of the catalytic hydrogen combustion over Pt-impregnated powdery silicon carbide (SiC) using H2PtCl6 as precursor. The reaction was conducted in excess of oxygen. β-SiC was selected for the study because of its thermal conductivity, mechanical properties, chemical inertness and surface area. The obtained Pt particles over SiC were medium size (average particle diameter of 5 nm for 0.5 wt% Pt). The activity of the Pt-impregnated catalyst over SiC was compared to those obtained in oxidized form over TiO2 and Al2O3 commercial supports (Pt particles very small in size, average particle diameter of 1 nm for 0.5 wt% Pt in both cases). The case of a SiO2 support was also discussed. Those Pt/SiC particles were the most active because of their higher contribution of surface Pt0, indicating that partially oxidized surfaces have better activity than those totally oxidized in these conditions. SiC was modified with an acid treatment and thus bigger (average particle diameter of 7 nm for 0.5 wt% Pt) and more active Pt particles were obtained. Durability of the SiC and TiO2 supported catalysts was tested upon 5 cycles and both have shown to be durable and even more active than initially. Exposure to the oxidative reaction mixture activates the catalysts and the effect is more pronounced for the completely oxidized particles. This is due to the surface oxygen chemisorption which activates catalystś surface.Junta de Andalucía PE2012-TEP862Ministerio de Economía y Competitividad CTQ2012-32519, CTQ2015-65918-RConsejo Superior de Investigaciones Científicas PIE-201460E01

Earnings and Social Background: An evaluation of caste/ethnic wage differentials in the Nepalese labor market

This paper examines the sources of wage differentials among caste/ethnic groups, employing national survey data from Nepal. Our study shows that, in countries such as Nepal which have imperfect labour markets, the conventional Oaxaca decomposition methodology fails to estimate precisely the source of wage differential. Using an extended model, occupational choice, firm size distribution and the interaction between these two are employed along with the conventionally used measures of human capital endowments of different groups, to estimate these effects. Our results indicate that the lack of access to better paying occupations and larger firms, rather than differences in human capital, are the main factors underlying the caste/ethnic wage differentia in Nepal. Furthermore, empirical evidence is not found in favour of government policy of "affirmative action" to contribute yet in narrowing down the caste/ethnic wage differential in the labour market