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作者：Cheela, Bhagath; Dehon, Andre; Fernandez-Villaverde, Jesus; Peri, Alessandro
作者单位：University of Pennsylvania; University of Pennsylvania; University of Colorado System; University of Colorado Boulder
摘要：We show how to use field-programmable gate arrays (FPGAs) and their associated high-level synthesis (HLS) compilers to solve heterogeneous agent models with incomplete markets and aggregate uncertainty (Krusell and Smith (1998)). We document that the acceleration delivered by one single FPGA is comparable to that provided by using 69 CPU cores in a conventional cluster. The time to solve 1200 versions of the model drops from 8 hours to 7 minutes, illustrating a great potential for structural e...
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作者：Behrman, Jere R.; Parker, Susan W.; Todd, Petra; Zhang, Weilong
作者单位：University of Pennsylvania; University System of Maryland; University of Maryland College Park; University of Pennsylvania; National Bureau of Economic Research; University of Cambridge
摘要：This paper develops and estimates a dynamic model, which integrates value-added and school-choice models, to evaluate grade-by-grade and cumulative impacts of the Mexican Prospera conditional cash transfer (CCT) program on educational achievement. The empirical application advances the previous literature by estimating policy impacts on learning, accounting for dynamic selective school attendance, and incorporating both observed and unobserved heterogeneity. A dynamic framework is critical for...
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作者：Kleibergen, Frank; Zhan, Zhaoguo
作者单位：University of Amsterdam; University System of Georgia; Kennesaw State University
摘要：We propose the double robust Lagrange multiplier (DRLM) statistic for testing hypotheses specified on the minimizer of the population continuous updating objective function. The (bounding) chi 2 limiting distribution of the DRLM statistic is robust to both misspecification and weak identification, hence its name. The minimizer is the so-called pseudo-true value, which equals the true value of the structural parameter under correct specification. To emphasize its importance for applied work whe...
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作者：Castro, Juan F.; Glewwe, Paul; Heredia-Mayo, Alexandra; Majerowicz, Stephanie; Montero, Ricardo
作者单位：Universidad del Pacifico Peru; University of Minnesota System; University of Minnesota Twin Cities; Universidad de los Andes (Colombia)
摘要：We evaluate the impact of a large-scale teacher coaching program in Peru, a context with high teacher turnover, on teachers' pedagogical skills and student learning. Previous studies find that small-scale coaching programs can improve teaching of reading and science in developing countries. However, scaling up can reduce programs' effectiveness, and teacher turnover can erode compliance and cause spillovers onto non-program schools. We develop a framework that defines different treatment effec...
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作者：Aryal, Gaurab; Perrigne, Isabelle; Vuong, Quang; Xu, Haiqing
作者单位：Boston University; Rice University; New York University; University of Texas System; University of Texas Austin
摘要：In this paper, we address the identification and estimation of insurance models where insurees have private information about their risk and risk aversion. The model includes random damages and allows for several claims, while insurees choose from a finite number of coverages. We show that the joint distribution of risk and risk aversion is nonparametrically identified despite bunching due to multidimensional types and a finite number of coverages. Our identification strategy exploits the obse...
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作者：Benigno, Gianluca; Foerster, Andrew; Otrok, Christopher; Rebucci, Alessandro
作者单位：University of Lausanne; Centre for Economic Policy Research - UK; Federal Reserve System - USA; Federal Reserve Bank - San Francisco; Federal Reserve System - USA; Federal Reserve Bank - Dallas; Johns Hopkins University; National Bureau of Economic Research
摘要：We develop a new model of cycles and crises in emerging markets, featuring an occasionally binding borrowing constraint and stochastic volatility, and estimate it with quarterly data for Mexico since 1981. We propose an endogenous regime-switching formulation of the occasionally binding borrowing constraint, develop a general perturbation method to solve the model, and estimate it using Bayesian methods. We find that the model fits the Mexican data well without systematically relying on large ...
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作者：Aydogan, Ilke; Baillon, Aurelien; Kemel, Emmanuel; Li, Chen
作者单位：Universite de Lille; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); IESEG School of Management; Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite Claude Bernard Lyon 1; Universite Jean Monnet; Universite Lyon 2; emlyon business school; Centre National de la Recherche Scientifique (CNRS); Hautes Etudes Commerciales (HEC) Paris; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：Belief-updating biases hinder the correction of inaccurate beliefs and lead to suboptimal decisions. We complement Rabin and Schrag's (1999) portable extension of the Bayesian model by including conservatism in addition to confirmatory bias. Additionally, we show how to identify these two forms of biases from choices. In an experiment, we found that the subjects exhibited confirmatory bias by misreading 19% of the signals that contradicted their priors. They were also conservative and acted as...
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作者：Boppart, Timo; Harmenberg, Karl; Hassler, John; Krusell, Per; Olsson, Jonna
作者单位：Stockholm University; University of Zurich; University of Oslo; Norwegian School of Economics (NHH)
摘要：Aimed at pandemic preparedness, we construct a framework for integrated epi-econ assessment that we believe would be useful for policymakers, especially at the early stages of a pandemic outbreak. We offer theory, calibration to micro-, macro-, and epi-data, and numerical methods for quantitative policy evaluation. The model has an explicit microeconomic, market-based structure. It highlights trade-offs, within period and over time, associated with activities that involve both valuable social ...
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作者：Lazzati, Natalia; Quah, John K. -H.; Shirai, Koji
作者单位：University of California System; University of California Santa Cruz; National University of Singapore; Kwansei Gakuin University
摘要：We develop a nonparametric and ordinal approach for testing pure strategy Nash equilibrium play in games with monotone best responses, such as those with strategic complements/substitutes. The approach makes minimal assumptions on unobserved heterogeneity, requires no parametric assumptions on payoff functions, and no restriction on equilibrium selection from multiple equilibria. The approach can also be extended in order to make inferences and predictions. Both model-testing and inference can...
