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Approximation of Nash equilibria in Bayesian games (replication data)
We define a new concept of constrained strategic equilibrium (CSE) for Bayesian games. We show that a sequence of CSEs approximates an equilibrium under standard conditions. We... -
Semiparametric Bayesian inference for dynamic Tobit panel data models with un...
This paper develops semiparametric Bayesian methods for inference of dynamic Tobit panel data models. Our approach requires that the conditional mean dependence of the... -
The wages of BMI: Bayesian analysis of a skewed treatment-response model with...
We generalize the specifications used in previous studies of the effect of body mass index (BMI) on earnings by allowing the potentially endogenous BMI variable to enter the log... -
Efficiency externalities of trade and alternative forms of foreign investment...
The literature on the spillover effects of trade and inflows of foreign direct investment (FDI) has concentrated on technological externalities. Little effort has been directed... -
R&D and subsidies at the firm level: an application of parametric and sem...
This paper analyzes the effect of public R&D subsidies on firms' private R&D investment per employee and new product sales in German manufacturing. Parametric and... -
Semiparametric hedonic price models: assessing the effects of agricultural no...
In the area of environmental analysis using hedonic price models, we investigate the performance of various nonparametric and semiparametric specifications. The proposed model... -
Are risk-averse agents more optimistic? A Bayesian estimation approach (repli...
Our aim is to analyze the link between optimism and risk aversion in a subjective expected utility setting and to estimate the average level of optimism when weighted by risk... -
Rotterdam model versus almost ideal demand system: will the best specificatio...
The Rotterdam model and the Almost Ideal Demand System (AIDS) are often applied in consumer demand systems modeling. Using Monte Carlo techniques, we determine which model... -
Identifying the new Keynesian Phillips curve (replication data)
Phillips curves are central to discussions of inflation dynamics and monetary policy. The hybrid new Keynesian Phillips curve (NKPC) describes how past inflation, expected... -
Rough and lonely road to prosperity: a reexamination of the sources of growth...
This paper takes a fresh look at Africa's growth experience by using the Bayesian model averaging (BMA) methodology. BMA enables us to consider a large number of potential... -
Learning, forecasting and structural breaks (replication data)
We provide a general methodology for forecasting in the presence of structural breaks induced by unpredictable changes to model parameters. Bayesian methods of learning and... -
Bayes estimates of distance-to-market: transactions costs, cooperatives and m...
Rationalizing non-participation as a resource deficiency in the household, this paper identifies strategies for milk-market development in the Ethiopian highlands. The... -
Modes, weighted modes, and calibrated modes: evidence of clustering using mod...
We apply recent results from the statistics literature to test for multimodality of worldwide distributions of several (unweighted and population-weighted) measures of labor... -
Jumps in cross-sectional rank and expected returns: a mixture model (replicat...
We propose a new nonlinear time series model of expected returns based on the dynamics of the cross-sectional rank of realized returns. We model the joint dynamics of a sharp... -
Are output growth-rate distributions fat-tailed? some evidence from OECD coun...
This work explores some distributional properties of aggregate output growth-rate time series. We show that, in the majority of OECD countries, output growth-rate distributions... -
A nonparametric decomposition of the Mexican American average wage gap (repli...
This paper shows that average wage gap decompositions between any two groups of workers can be carried out using nonparametric wage structures. It also proposes an algorithm to... -
An alternative approach to estimate the wage returns to private-sector traini...
This paper follows an alternative approach to identify the wage effects of private-sector training. The idea is to narrow down the comparison group by only taking into... -
Comparing smooth transition and Markov switching autoregressive models of US ...
Logistic smooth transition and Markov switching autoregressive models of a logistic transform of the monthly US unemployment rate are estimated by Markov chain Monte Carlo... -
The estimation of utility-consistent labor supply models by means of simulate...
We consider a utility-consistent static labor supply model with flexible preferences and a nonlinear and possibly non-convex budget set. Stochastic error terms are introduced to... -
Testing for country heterogeneity in growth models using a finite mixture app...
We define a bivariate mixture model to test whether economic growth can be considered exogenous in the Solovian sense. For this purpose, the multivariate mixture approach...
