Conventional OLS fixed-effects and GLS random-effects estimators of dynamic models that control for individual-effects are known to be biased when applied to short panel data (T <= 10). GMM estimators
Data and code for Exploring the Mechanism of Path-Creating Strategy for Latecomers: A Combined Approach of Econometrics and Causal Machine Learning 1. feature_data.csv is the original feature da
We develop a universal econometric formulation of empirical power laws possibly driven by parameter heterogeneity. Our approach extends classical extreme value theory to specifying the tail behavior o
Alongside instrumental-variables and fixed-effects approaches, the control function approach is the most widely used in production function estimation. Olley and Pakes (1996, Econometrica 64: 1263–129
Economic losses from natural disasters vary by countries, and it has been hypothesized that institutional, political, and other national conditions and policies all play a role in determining the seve