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Understanding the Fisher equation (replication data)
It is argued that univariate long memory estimates based on ex post data tend to underestimate the persistence of ex ante variables (and, hence, that of the ex post variables... -
Learning about heterogeneity in returns to schooling (replication data)
Using data from the National Longitudinal Survey of Youth (NLSY) we introduce and estimate various Bayesian hierarchical models that investigate the nature of unobserved... -
Modelling low income transitions (replication data)
We examine the determinants of low income transitions using first-order Markov models that control for initial conditions effects (those found to be poor in the base year may be... -
Keeping off the grass? An econometric model of cannabis consumption in Britai...
This paper presents estimates of a dynamic individual-level model of cannabis consumption, using data from a 1998 survey of young people in Britain. The econometric model is a... -
The dynamics of health in the British Household Panel Survey (replication data)
This paper considers the dynamics of a categorical indicator of self-assessed health using eight waves (1991-1998) of the British Household Panel Survey (BHPS). Our analysis has... -
Health insurance and savings over the life cycle—a semiparametric smooth coef...
Individuals save for future uncertain health care expenses. This is less efficient than pooling health risk through insurance. The provision of comprehensive health insurance... -
The Solow model with CES technology: nonlinearities and parameter heterogenei...
This paper examines whether nonlinearities in the aggregate production function can explain parameter heterogeneity in the Solow growth regressions. Nonlinearities in the... -
On Markov error-correction models, with an application to stock prices and di...
This paper considers Markov error-correction (MEC) models in which deviations from the long-run equilibrium are characterized by different rates of adjustment. To motivate our... -
Can inflation data improve the real-time reliability of output gap estimates?...
Potential output plays a central role in monetary policy and short-term macroeconomic policy making. Yet, characterizing the output gap involves a trend-cycle decomposition, and... -
Temporary layoffs and split population models (replication data)
This paper develops and estimates a split population model for the duration of temporary layoffs in the German labour market; the population being split according to whether a... -
Estimating the economic return to educational levels using data on twins (rep...
This paper relaxes some restrictions of previous twin-based estimates of the effects of education on earnings. First, it estimates the earnings premiums associated with...
