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Economic Transition and Growth: A Replication (replication data)
Phillips and Sul (Journal of Applied Econometrics 2009, 24, 1153-1185) provide an algorithm to identify convergence clubs in a dynamic factor model of economic transition and... -
Monetary Policy and Asset Prices: A Markov-Switching DSGE Approach (replicati...
This paper estimates a Markov-switching dynamic stochastic general equilibrium model by incorporating stock prices in monetary policy rules in order to identify the Federal... -
An Empirical Comparison Between the Synthetic Control Method and HSIAO<i>et a...
We compare two program evaluation methodologies: the synthetic control method and the panel data approach. We apply both methods to estimate the effect of the political and... -
Work Ethic, Social Ethic, no Ethic: Measuring the Economic Values of Modern C...
Benito Arruñad finds evidence of a distinct Protestant social ethic in the ISSP's 1998 Religion II Survey (Economic Journal 2010; 120: 890-918). We replicate Arruñada's results... -
The Robust Relationship Between US Food Aid and Civil Conflict (replication d...
Humanitarian aid has long been considered an important means to reduce hunger and suffering in developing countries. A recent finding by Nunn and Qian (US food aid and civil... -
Joint Bayesian Analysis of Parameters and States in Nonlinear non-Gaussian St...
We propose a new methodology for designing flexible proposal densities for the joint posterior density of parameters and states in a nonlinear, non-Gaussian state space model.... -
The Effectiveness of Non-Standard Monetary Policy Measures: Evidence from Sur...
We assess professional forecasters' perceptions of the effects of the unconventional monetary policy measures announced by the US Federal Reserve after the collapse of Lehman... -
Have Standard VARS Remained Stable Since the Crisis? (replication data)
Small vector autoregressions are commonly used in macroeconomics for forecasting and evaluating shock transmission. This requires VAR parameters to be stable over the evaluation... -
Using a Structural-Form Model to Analyze the Impact of Home Ownership on Unem...
It is often found that the impact of home ownership on the hazard rate for leaving unemployment is positive, indicating that home ownership helps workers to leave unemployment... -
Human Capital Spillovers and Regional Development (replication data)
This paper introduces technological interdependence into the theoretical framework of Gennaioli et al. (Quarterly Journal of Economics 2013; 128: 105-164). This extension leads... -
Textual Analysis in Real Estate (replication data)
This paper incorporates text data from MLS listings into a hedonic pricing model. We show that the comments section of the MLS, which is populated by real estate agents who... -
Dynamic Panel Data Models With Irregular Spacing: With an Application to Earl...
With the increased availability of longitudinal data, dynamic panel data models have become commonplace. Moreover, the properties of various estimators of such models are well... -
Out-of-Sample Return Predictability: A Quantile Combination Approach (replica...
This paper develops a novel forecasting method that minimizes the effects of weak predictors and estimation errors on the accuracy of equity premium forecasts. The proposed... -
MM Algorithm for General Mixed Multinomial Logit Models (replication data)
This paper develops a new technique for estimating mixed logit models with a simple minorization-maximization (MM) algorithm. The algorithm requires minimal coding and is easy... -
Estimating the Competitive Storage Model with Trending Commodity Prices (repl...
We present a method to estimate jointly the parameters of a standard commodity storage model and the parameters characterizing the trend in commodity prices. This procedure... -
Loan Supply Shocks and the Business Cycle (replication data)
This paper provides empirical evidence on the role played by loan supply shocks over the business cycle in the euro area, the UK and the USA from 1980 to 2011 by estimating... -
On the Stability of the Excess Sensitivity of Aggregate Consumption Growth in...
This paper investigates whether there is time variation in the excess sensitivity of aggregate consumption growth to anticipated aggregate disposable income growth using... -
Granger Causality and Regime Inference in Markov Switching VAR Models with Ba...
In this paper, we derive restrictions for Granger noncausality in MS-VAR models and show under what conditions a variable does not affect the forecast of the hidden Markov... -
Narrow Replication of Fisman and Miguel's (2007a) ‘Corruption, Norms, and Leg...
This note provides a narrow replication of Fisman and Miguel's (Journal of Political Economy, 2007a; 115(6): 1020-1048) original findings about estimating negative binomial... -
Density Forecasts With Midas Models (replication data)
We propose a parametric block wild bootstrap approach to compute density forecasts for various types of mixed-data sampling (MIDAS) regressions. First, Monte Carlo simulations...
