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作者：Krasnokutskaya, Elena
作者单位：Johns Hopkins University
摘要：This article investigates the empirical importance of allowing for multidimensional sources of unobserved heterogeneity in auction models with private information. It develops the estimation procedure to recover the distribution of private information in the presence of two sources of unobserved heterogeneity. It is shown that this estimation procedure identifies components of the model and produces uniformly consistent estimators of these components. The results of the estimation with highway...
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作者：Koop, Gary; Korobilis, Dimitris
作者单位：University of Strathclyde; Universite Catholique Louvain
摘要：We forecast quarterly US inflation based on the generalized Phillips curve using econometric methods that incorporate dynamic model averaging. These methods not only allow for coefficients to change over time, but also allow for the entire forecasting model to change over time. We find that dynamic model averaging leads to substantial forecasting improvements over simple benchmark regressions and more sophisticated approaches such as those using time varying coefficient models. We also provide...
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作者：He, Yin; Maskus, Keith E.
作者单位：University of Colorado System; University of Colorado Boulder; University of International Business & Economics
摘要：We develop a general equilibrium model of endogenous innovation and foreign direct investment (FDI). In the benchmark model, Northern firms innovate with the help of localized spillovers, and a share of new products is transferred to Southern production via FDI. An increase in Southern imitation risk reduces this share. In the extended model, we permit higher-cost Southern innovation, which yields inefficient specialization in both regions and reduces global growth. However, it generates a U-s...
