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Concave-Monotone Treatment Response and Monotone Treatment Selection: With an Application to the Returns to Schooling 凹-单调处理反应与单调处理选择:在复学中的应用
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-06-29 DOI: 10.2139/SSRN.1512717
Tsunao Okumura, Emiko Usui
{"title":"Concave-Monotone Treatment Response and Monotone Treatment Selection: With an Application to the Returns to Schooling","authors":"Tsunao Okumura, Emiko Usui","doi":"10.2139/SSRN.1512717","DOIUrl":"https://doi.org/10.2139/SSRN.1512717","url":null,"abstract":"This paper identifies sharp bounds on the mean treatment response and average treatment effect under the assumptions of both concave monotone treatment response (concave-MTR) and monotone treatment selection (MTS). We use our bounds and the US National Longitudinal Survey of Youth to estimate mean returns to schooling. Our upper-bound estimates are substantially smaller than (1) estimates using only the concave-MTR assumption of Manski (1997) and (2) estimates using only the MTR and MTS assumptions of Manski and Pepper (2000). They fall in the lower range of the point estimates given in previous studies that assume linear wage functions. This is because ability bias is corrected by assuming MTS when the functions are close to linear. Our results therefore imply that higher returns reported in previous studies are likely to be overestimated.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123666671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 21
Rural Electrification and Manufacturing Firm Performance in Benin - An Ex-Ante Impact Assessment 贝宁农村电气化和制造业企业绩效——事前影响评估
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-06-01 DOI: 10.2139/SSRN.1635764
J. Peters, Colin Vance, M. Harsdorff
{"title":"Rural Electrification and Manufacturing Firm Performance in Benin - An Ex-Ante Impact Assessment","authors":"J. Peters, Colin Vance, M. Harsdorff","doi":"10.2139/SSRN.1635764","DOIUrl":"https://doi.org/10.2139/SSRN.1635764","url":null,"abstract":"Productive electricity use is widely believed to contribute to positive impacts of electrification projects. This paper investigates these impacts by comparing the performance of micro manufacturing enterprises in grid-covered and non-covered villages in Northern Benin. Using firm-level data, the empirical analysis employs a Propensity Score Matching. While beneficial impacts are found from firm creation after electrification, firms that existed before actually show a non-significantly inferior performance to their matched counterparts from a non-electrified region. Complementary measures that sensitize firms about the implications of a grid connection are recommended as important features of program design.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"199 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130201261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Threshold Events and Identification: A Study of Cash Shortfalls 阈值事件与识别:现金短缺研究
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-05-27 DOI: 10.2139/ssrn.1616720
Tor-Erik Bakke, Toni M. Whited
{"title":"Threshold Events and Identification: A Study of Cash Shortfalls","authors":"Tor-Erik Bakke, Toni M. Whited","doi":"10.2139/ssrn.1616720","DOIUrl":"https://doi.org/10.2139/ssrn.1616720","url":null,"abstract":"Threshold events are discrete events triggered when an observable continuous variable passes a known threshold. We demonstrate how to use threshold events as identification strategies by revisiting the evidence in Rauh (2006) that mandatory pension contributions cause investment declines. Rauh's result stems from heavily underfunded firms that constitute a small fraction of the sample and that differ from the rest of the sample in important ways; that is, the control group differs from the treated group. To alleviate this issue, we use observations near funding thresholds and find causal effects of mandatory contributions on receivables, R&D, and hiring, but not on investment. We also provide useful suggestions and diagnostics for analyzing threshold events.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127535511","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 115
The Housing Cycle and Prospects for Technical Progress 住房周期和技术进步的前景
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-05-01 DOI: 10.3386/W15971
C. Mulligan
{"title":"The Housing Cycle and Prospects for Technical Progress","authors":"C. Mulligan","doi":"10.3386/W15971","DOIUrl":"https://doi.org/10.3386/W15971","url":null,"abstract":"Information technology has already transformed some areas of our lives, and has the prospect for transforming other sectors. This paper is about economic behaviors that anticipate technical progress, and how they may describe the housing price and construction boom of 2000-2006 and the bust thereafter. Specifically, I note that only a minority of housing output remains as an operating surplus for the structures' owners. It follows the prospect of productivity shocks to the mortgage and real estate industries have the potential to both move housing prices and non-residential consumption in the same direction, and that demand impulses are magnified in their effects on housing prices. A bust occurs when those impulses are realized later, or in a lesser magnitude, than originally anticipated. This view has testable implications for vacancy rates, net operating surplus, aggregate consumption patterns, net investment rates, and non-residential construction - all of which confirm the theory.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114319545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
A Comparison of Bias Approximations for The 2SLS Estimator 2SLS估计量的偏置近似比较
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-04-21 DOI: 10.2139/ssrn.1865753
M. Bun, F. Windmeijer
{"title":"A Comparison of Bias Approximations for The 2SLS Estimator","authors":"M. Bun, F. Windmeijer","doi":"10.2139/ssrn.1865753","DOIUrl":"https://doi.org/10.2139/ssrn.1865753","url":null,"abstract":"We consider the bias of the 2SLS estimator in the linear instrumental variables regression with one endogenous regressor only. By using asymptotic expansion techniques we approximate 2SLS coefficient estimation bias under various scenarios regarding the number and strength of instruments.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116420637","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
An Alternative Theory of the Plant Size Distribution with an Application to Trade 植物规模分布的另一种理论及其在贸易中的应用
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-04-01 DOI: 10.2139/ssrn.1607743
{"title":"An Alternative Theory of the Plant Size Distribution with an Application to Trade","authors":"","doi":"10.2139/ssrn.1607743","DOIUrl":"https://doi.org/10.2139/ssrn.1607743","url":null,"abstract":"There is wide variation in the sizes of manufacturing plants, even within the most narrowly defined industry classifications used by statistical agencies. Standard theories attribute all such size differences to productivity differences. This paper develops an alternative theory in which industries are made up of large plants producing standardized goods and small plants making custom or specialty goods. It uses confidential Census data to estimate the parameters of the model, including estimates of plant counts in the standardized and specialty segments by industry. The estimated model fits the data relatively well compared with estimates based on standard approaches. In particular, the predictions of the model for the impacts of a surge in imports from China are consistent with what happened to U.S. manufacturing industries that experienced such a surge over the period 1997--2007. Large-scale standardized plants were decimated, while small-scale specialty plants were relatively less impacted.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115833195","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 39
Employee Training and Wage Dispersion: White and Blue Collar Workers in Britain 员工培训与工资分散:英国白领和蓝领工人
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-03-22 DOI: 10.1108/S0147-9121(2010)0000030005
Filipe Almeida-Santos, Y. Chzhen, K. Mumford
{"title":"Employee Training and Wage Dispersion: White and Blue Collar Workers in Britain","authors":"Filipe Almeida-Santos, Y. Chzhen, K. Mumford","doi":"10.1108/S0147-9121(2010)0000030005","DOIUrl":"https://doi.org/10.1108/S0147-9121(2010)0000030005","url":null,"abstract":"We use household panel data to explore the wage returns associated with training incidence and intensity (duration) for British employees. We find these returns differ depending on the nature of the training, who funds the training, the skill levels of the recipient (white- or blue-collar), the age of the employee and if the training is with the current employer or not. Using decomposition analysis, training is found to be positively associated with wage dispersion: a virtuous circle of wage gains and training exists in Britain but only for white-collar employees.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115392082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 17
The Employed, the Unemployed, and the Unemployable: Directed Search with Worker Heterogeneity 就业、失业和无法就业:工人异质性的定向搜索
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-03-15 DOI: 10.2139/ssrn.1570965
S. Basov, I. King, Lawrence Uren
{"title":"The Employed, the Unemployed, and the Unemployable: Directed Search with Worker Heterogeneity","authors":"S. Basov, I. King, Lawrence Uren","doi":"10.2139/ssrn.1570965","DOIUrl":"https://doi.org/10.2139/ssrn.1570965","url":null,"abstract":"We examine the implications of worker heterogeneity on the equilibrium matching process, using a directed search model. Worker abilities are selected from a general distribution, subject to some weak regularity requirements, and the firms direct their job offers to workers. We identify conditions under which some fraction of the workforce will be \"unemployable\": no firm will approach them even though they offer positive surplus. For large markets we derive a simple closed form expression for the equilibrum matching function. This function has constant returns to scale and two new terms, which are functions of the underlying distribution of worker productivities: the percentage of unemployable workers, and a measure of heterogeneity (?).The equilibrium unemployment rate is increasing in ? and, under certain circumstances, is increasing in the productivity of highly skilled workers, despite endogenous entry. A key empirical prediction of the theory is that ? ? 1. We examine this prediction, using data from several countries.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"150 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114624891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Rates of Return to University Education: The Regression Discontinuity Design 大学教育回报率:回归不连续设计
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-02-15 DOI: 10.2139/ssrn.1552683
Elliott Fan, Xin Meng, Zhichao Wei, Guochang Zhao
{"title":"Rates of Return to University Education: The Regression Discontinuity Design","authors":"Elliott Fan, Xin Meng, Zhichao Wei, Guochang Zhao","doi":"10.2139/ssrn.1552683","DOIUrl":"https://doi.org/10.2139/ssrn.1552683","url":null,"abstract":"Estimating the rate of return to a university degree has always been difficult due to the problem of omitted variable biases. Benefiting from a special feature of the University Admission system in China, which has clear cutoffs for university entry, combined with a unique data set with information on individual National College Entrance Examination (NCEE) scores, we estimate the Local Average Treatment Effects (LATE) of university education based on a Regression Discontinuity design. To the best of our knowledge, this is the first study to use RD design to estimate the causal effect of a university education on earnings. Our results show that the rates of return to 4-year university education relative to 3-year college education are 40 and 60 per cent for the compliers in the male and female samples, respectively, which are much larger than the simple OLS estimations revealed in previous literature. Since in our sample a large proportion of individuals are compliers (45 per cent for males and 48 per cent for females), the LATEs estimated in this paper have a relatively general implication. In addition, we find that the LATEs are likely to be larger than ATEs, suggesting that the inference drawn from average treatment effects might understate the true effects of the university expansion program introduced in China in 1999 and thereafter.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114906866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 10
The Determinants of Banks’ Capital Ratio in Developing Countries: Empirical Evidence from Tunisia 发展中国家银行资本比率的决定因素:来自突尼斯的经验证据
ERN: Econometric Modeling in Microeconomics (Topic) Pub Date : 2010-02-01 DOI: 10.2139/ssrn.1688325
M. Romdhane
{"title":"The Determinants of Banks’ Capital Ratio in Developing Countries: Empirical Evidence from Tunisia","authors":"M. Romdhane","doi":"10.2139/ssrn.1688325","DOIUrl":"https://doi.org/10.2139/ssrn.1688325","url":null,"abstract":"In this paper, we try to study the determinants of the banks' capital ratio in an emerging country. To do so, we model the relationships between some variables of the banks and this ratio. Our aim is to explain its high level. We try also to answer to a new question. Is it affected by the same factors in the emerging countries as in the industrialized ones? The sample is composed of 18 banks. The data are half yearly. The period sample is from 2002 to 2008. We find that the interest margin and the risk affect strongly the capital ratio. They explain the excess of the capital held by the Tunisian banks. So, this excess is not explained only by regulatory pressures. The deposit variability and the intermediation rate have the same sign. But, the equity cost and the deposits ratio both have a negative impact. The determinants are the same for all the countries.","PeriodicalId":207453,"journal":{"name":"ERN: Econometric Modeling in Microeconomics (Topic)","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127444531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 26
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