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最新文章

• Nonstationarities in financial time series, the long-range dependence, and the IGARCH effects AI翻译
  作者：Mikosch, T; Starica, C
  作者单位：University of Copenhagen; Chalmers University of Technology
  摘要：We give the theoretical basis of a possible explanation for two stylized facts observed in long log-return series: the long-range dependence (LRD) in volatility and the integrated GARCH (IGARCH). Both these effects can be explained theoretically if one assumes that the data are nonstationary.
• Using matching to estimate treatment effects: Data requirements, matching metrics, and Monte Carlo evidence AI翻译
  作者：Zhao, Z
  作者单位：Peking University
  摘要：We compare propensity-score matching methods with covariate matching estimators. We first discuss the data requirements of propensity-score matching estimators and covariate matching estimators. Then we propose two new matching metrics incorporating the treatment outcome information and participation indicator information, and discuss the motivations of different metrics. Next we study the small-sample properties of propensity-score matching versus covariate matching estimators, and of differe...
• Measuring the cyclicality of real wages: How important is the firm's point of view? AI翻译
  作者：Swanson, ET
  作者单位：Federal Reserve System - USA
  摘要：There is a growing consensus among economists that real wages in the postwar United States have been procyclical, greatly bolstering technology-driven theories of business cycles at the expense of more classical models. This paper makes the point that technological movements in firm's labor demand curves should be tested with a wage that is deflated by the firm's own price of output, with appropriate controls for intermediate inputs, and with respect to the cyclical state of the firm's own ind...