34 research outputs found
Basse Fécondité et Marché du Logement: Une Analyse de Données Régionales Suédoises
Assessing the impact of natural policy experiments on socioeconomic inequalities in health: how to apply commonly used quantitative analytical methods?
Bias-corrected Estimation in Dynamic Panel Data Models with Heteroscedasticity
This study extends earlier results on bias-corrected estimators for the fixed-effects dynamic panel data model. We derive the inconsistency of the LSDV estimator for finite T and N large in case of both time-series and cross-section heteroscedasticity and show how to implement it in bias correction procedures. Keywords: Bias correction; Dynamic panel data model; Heteroscedasticity; Least squares dummy variable estimator JEL classification codes: C13; C2
A Comparison of Bias Approximations for the Two-Stage Least Squares (2SLS) Estimator
We consider the bias of the two-stage least squares (2SLS) estimator in linear instrumental variable regression with only one endogenous regressor. By using asymptotic expansion techniques, we approximate the 2SLS coefficient estimation bias under various scenarios regarding the number and strength of instruments. Highlights â–º The 2SLS coefficient estimation bias is approximated. â–º We consider various scenarios regarding the number and strength of instruments. â–º The resulting approximation encompasses existing bias expressions. â–º Simulations show that the developed approximation is accurate
Crime, deterrence and punishment revisited
Despite an abundance of empirical evidence on crime spanning over 40Â years, there exists no consensus on the impact of the criminal justice system on crime activity. We construct a new panel data set that contains all relevant variables prescribed by economic theory. Our identification strategy allows for a feedback relationship between crime and deterrence variables, and it controls for omitted variables and measurement error. We deviate from the majority of the literature in that we specify a dynamic model, which captures the essential feature of habit formation and persistence in aggregate behaviour. Our results show that the criminal justice system exerts a large influence on crime activity. Increasing the risk of apprehension and conviction is more influential in reducing crime than raising the expected severity of punishment