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作者：Auray, Stephane; Fuller, David L.
作者单位：Ecole Nationale de la Statistique et de l'Analyse de l'Information (ENSAI); Universite du Littoral-Cote-d'Opale; University of Wisconsin System
摘要：In this paper, we investigate the causes and consequences of unclaimed unemployment insurance (UI) benefits. A search model is developed where the costs to collecting UI benefits include both a traditional fixed administrative cost and an endogenous cost arising from worker and firm interactions. Experience rated taxes give firms an incentive to challenge a worker's UI claim, and these challenges are costly for the worker. Exploiting data on improper denials of UI benefits across states in the...
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作者：Liao, Zhipeng; Shi, Xiaoxia
作者单位：University of California System; University of California Los Angeles; University of Wisconsin System; University of Wisconsin Madison
摘要：This paper proposes a new model selection test for the statistical comparison of semi/non-parametric models based on a general quasi-likelihood ratio criterion. An important feature of the new test is its uniformly exact asymptotic size in the overlapping nonnested case, as well as in the easier nested and strictly nonnested cases. The uniform size control is achieved without using pretesting, sample-splitting, or simulated critical values. We also show that the test has nontrivial power again...
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作者：Zhang, Yichong; Zheng, Xin
作者单位：Singapore Management University
摘要：In this paper, we study the estimation and inference of the quantile treatment effect under covariate-adaptive randomization. We propose two estimation methods: (1) the simple quantile regression and (2) the inverse propensity score weighted quantile regression. For the two estimators, we derive their asymptotic distributions uniformly over a compact set of quantile indexes, and show that, when the treatment assignment rule does not achieve strong balance, the inverse propensity score weighted...
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作者：Bauer, Daniel; Russ, Jochen; Zhu, Nan
作者单位：University of Wisconsin System; University of Wisconsin Madison; Ulm University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We use data from a large US life expectancy provider to test for asymmetric information in the secondary life insurance-or life settlements-market. We compare realized lifetimes for a subsample of settled policies relative to all (settled and non-settled) policies, and find a positive settlement-survival correlation indicating the existence of informational asymmetry between policyholders and investors. Estimates of the excess hazard associated with settling show the effect is temporary and we...
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作者：Perron, Pierre; Yamamoto, Yohei; Zhou, Jing
作者单位：Boston University; Hitotsubashi University
摘要：We provide a comprehensive treatment for the problem of testing jointly for structural changes in both the regression coefficients and the variance of the errors in a single equation system involving stationary regressors. Our framework is quite general in that we allow for general mixing-type regressors and the assumptions on the errors are quite mild. Their distribution can be nonnormal and conditional heteroskedasticity is permitted. Extensions to the case with serially correlated errors ar...
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作者：Asdrubali, Pierfederico; Tedeschi, Simone; Ventura, Luigi
作者单位：Roma Tre University; Sapienza University Rome
摘要：This paper aims to fill the gaps in the analysis of risk-sharing channels at the microlevel, both within and across households. Using data from the Bank of Italy's Survey on Household Income and Wealth covering the financial crisis, we are able to quantify in a unified and consistent framework several risk-sharing mechanisms that so far have been documented separately. We find that Italian households were able to smooth on average about 85% of shocks to household head's earnings in both 2008-2...
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作者：Canen, Nathan; Schwartz, Jacob; Song, Kyungchul
作者单位：University of Houston System; University of Houston; University of Haifa; University of British Columbia
摘要：In various economic environments, people observe other people with whom they strategically interact. We can model such information-sharing relations as an information network, and the strategic interactions as a game on the network. When any two agents in the network are connected either directly or indirectly in a large network, empirical modeling using an equilibrium approach can be cumbersome, since the testable implications from an equilibrium generally involve all the players of the game,...
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作者：van den Berg, Gerard J.; Bozio, Antoine; Dias, Monica Costa
作者单位：University of Bristol; University of Groningen; Paris School of Economics; Universidade do Porto
摘要：Causal effects of a policy change on hazard rates of a duration outcome variable are not identified from a comparison of spells before and after the policy change if there is unobserved heterogeneity in the effects and no model structure is imposed. We develop a discontinuity approach that overcomes this by considering spells that include the moment of the policy change and by exploiting variation in the moment at which different cohorts are exposed to the policy change. We prove identificatio...
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作者：Gerard, Francois; Rokkanen, Miikka; Rothe, Christoph
作者单位：University of London; Queen Mary University London; Amazon.com; University of Mannheim
摘要：The key assumption in regression discontinuity analysis is that the distribution of potential outcomes varies smoothly with the running variable around the cutoff. In many empirical contexts, however, this assumption is not credible; and the running variable is said to be manipulated in this case. In this paper, we show that while causal effects are not point identified under manipulation, one can derive sharp bounds under a general model that covers a wide range of empirical patterns. The ext...
