Instrumental Variables Regressions With Honestly Uncertain Exclusion Restrictions

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Instrumental Variables Regressions with Honestly Uncertain Exclusion Restrictions

Author : Aart Kraay
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4./5 ( download)

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Book Synopsis Instrumental Variables Regressions with Honestly Uncertain Exclusion Restrictions by : Aart Kraay

Download or read book Instrumental Variables Regressions with Honestly Uncertain Exclusion Restrictions written by Aart Kraay and published by World Bank Publications. This book was released on 2008 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The validity of instrumental variables (IV) regression models depends crucially on fundamentally untestable exclusion restrictions. Typically exclusion restrictions are assumed to hold exactly in the relevant population, yet in many empirical applications there are reasonable prior grounds to doubt their literal truth. In this paper I show how to incorporate prior uncertainty about the validity of the exclusion restriction into linear IV models, and explore the consequences for inference. In particular I provide a mapping from prior uncertainty about the exclusion restriction into increased uncertainty about parameters of interest. Moderate prior uncertainty about exclusion restrictions can lead to a substantial loss of precision in estimates of structural parameters. This loss of precision is relatively more important in situations where IV estimates appear to be more precise, for example in larger samples or with stronger instruments. The author illustrates these points using several prominent recent empirical papers that use linear IV models.

Instrumental Variables Regressions with Honestly Uncertain Exclusion Restrictions

Author : Aart Kraay
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Instrumental Variables Regressions with Honestly Uncertain Exclusion Restrictions by : Aart Kraay

Download or read book Instrumental Variables Regressions with Honestly Uncertain Exclusion Restrictions written by Aart Kraay and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The validity of instrumental variables (IV) regression models depends crucially on fundamentally untestable exclusion restrictions. Typically exclusion restrictions are assumed to hold exactly in the relevant population, yet in many empirical applications there are reasonable prior grounds to doubt their literal truth. In this paper I show how to incorporate prior uncertainty about the validity of the exclusion restriction into linear IV models, and explore the consequences for inference. In particular I provide a mapping from prior uncertainty about the exclusion restriction into increased uncertainty about parameters of interest. Moderate prior uncertainty about exclusion restrictions can lead to a substantial loss of precision in estimates of structural parameters. This loss of precision is relatively more important in situations where IV estimates appear to be more precise, for example in larger samples or with stronger instruments. The author illustrates these points using several prominent recent empirical papers that use linear IV models.

An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation

Author : Gerard J. van den Berg
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (535 download)

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Book Synopsis An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation by : Gerard J. van den Berg

Download or read book An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation written by Gerard J. van den Berg and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

World Bank Research Digest

Author :
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis World Bank Research Digest by :

Download or read book World Bank Research Digest written by and published by . This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Data Analysis Using Regression and Multilevel/Hierarchical Models

Author : Andrew Gelman
Publisher : Cambridge University Press
ISBN 13 : 9780521686891
Total Pages : 654 pages
Book Rating : 4.6/5 (868 download)

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Book Synopsis Data Analysis Using Regression and Multilevel/Hierarchical Models by : Andrew Gelman

Download or read book Data Analysis Using Regression and Multilevel/Hierarchical Models written by Andrew Gelman and published by Cambridge University Press. This book was released on 2007 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 2007, is for the applied researcher performing data analysis using linear and nonlinear regression and multilevel models.

Regression and Other Stories

Author : Andrew Gelman
Publisher : Cambridge University Press
ISBN 13 : 110702398X
Total Pages : 551 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Regression and Other Stories by : Andrew Gelman

Download or read book Regression and Other Stories written by Andrew Gelman and published by Cambridge University Press. This book was released on 2020-07-23 with total page 551 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical approach to using regression and computation to solve real-world problems of estimation, prediction, and causal inference.

The Economics of Artificial Intelligence

Author : Ajay Agrawal
Publisher : University of Chicago Press
ISBN 13 : 0226833127
Total Pages : 172 pages
Book Rating : 4.2/5 (268 download)

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Book Synopsis The Economics of Artificial Intelligence by : Ajay Agrawal

Download or read book The Economics of Artificial Intelligence written by Ajay Agrawal and published by University of Chicago Press. This book was released on 2024-03-05 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

The SAGE Handbook of Regression Analysis and Causal Inference

Author : Henning Best
Publisher : SAGE
ISBN 13 : 1473908353
Total Pages : 425 pages
Book Rating : 4.4/5 (739 download)

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Book Synopsis The SAGE Handbook of Regression Analysis and Causal Inference by : Henning Best

Download or read book The SAGE Handbook of Regression Analysis and Causal Inference written by Henning Best and published by SAGE. This book was released on 2013-12-20 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: ′The editors of the new SAGE Handbook of Regression Analysis and Causal Inference have assembled a wide-ranging, high-quality, and timely collection of articles on topics of central importance to quantitative social research, many written by leaders in the field. Everyone engaged in statistical analysis of social-science data will find something of interest in this book.′ - John Fox, Professor, Department of Sociology, McMaster University ′The authors do a great job in explaining the various statistical methods in a clear and simple way - focussing on fundamental understanding, interpretation of results, and practical application - yet being precise in their exposition.′ - Ben Jann, Executive Director, Institute of Sociology, University of Bern ′Best and Wolf have put together a powerful collection, especially valuable in its separate discussions of uses for both cross-sectional and panel data analysis.′ -Tom Smith, Senior Fellow, NORC, University of Chicago Edited and written by a team of leading international social scientists, this Handbook provides a comprehensive introduction to multivariate methods. The Handbook focuses on regression analysis of cross-sectional and longitudinal data with an emphasis on causal analysis, thereby covering a large number of different techniques including selection models, complex samples, and regression discontinuities. Each Part starts with a non-mathematical introduction to the method covered in that section, giving readers a basic knowledge of the method’s logic, scope and unique features. Next, the mathematical and statistical basis of each method is presented along with advanced aspects. Using real-world data from the European Social Survey (ESS) and the Socio-Economic Panel (GSOEP), the book provides a comprehensive discussion of each method’s application, making this an ideal text for PhD students and researchers embarking on their own data analysis.

Nonparametric Instrumental Regression

Author : Serge Darolles
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Nonparametric Instrumental Regression by : Serge Darolles

Download or read book Nonparametric Instrumental Regression written by Serge Darolles and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of the paper is the nonparametric estimation of an instrumental regression function f defined by conditional moment restrictions stemming from a structural econometric model: E [Y - f (Z) | W] = 0, and involving endogenous variables Y and Z and instruments W. The function f is the solution of an ill-posed inverse problem and we propose an estimation procedure based on Tikhonov regularization. The paper analyses identification and overidentification of this model and presents asymptotic properties of the estimated nonparametric instrumental regression function.

The Book of Why

Author : Judea Pearl
Publisher : Penguin UK
ISBN 13 : 0241242649
Total Pages : 432 pages
Book Rating : 4.2/5 (412 download)

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Book Synopsis The Book of Why by : Judea Pearl

Download or read book The Book of Why written by Judea Pearl and published by Penguin UK. This book was released on 2018-05-15 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: A pioneer of artificial intelligence shows how the study of causality revolutionized science and the world 'Correlation does not imply causation.' This mantra was invoked by scientists for decades in order to avoid taking positions as to whether one thing caused another, such as smoking and cancer and carbon dioxide and global warming. But today, that taboo is dead. The causal revolution, sparked by world-renowned computer scientist Judea Pearl and his colleagues, has cut through a century of confusion and placed cause and effect on a firm scientific basis. Now, Pearl and science journalist Dana Mackenzie explain causal thinking to general readers for the first time, showing how it allows us to explore the world that is and the worlds that could have been. It is the essence of human and artificial intelligence. And just as Pearl's discoveries have enabled machines to think better, The Book of Why explains how we can think better.

Bayesian Data Analysis, Third Edition

Author : Andrew Gelman
Publisher : CRC Press
ISBN 13 : 1439840954
Total Pages : 677 pages
Book Rating : 4.4/5 (398 download)

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Book Synopsis Bayesian Data Analysis, Third Edition by : Andrew Gelman

Download or read book Bayesian Data Analysis, Third Edition written by Andrew Gelman and published by CRC Press. This book was released on 2013-11-01 with total page 677 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now in its third edition, this classic book is widely considered the leading text on Bayesian methods, lauded for its accessible, practical approach to analyzing data and solving research problems. Bayesian Data Analysis, Third Edition continues to take an applied approach to analysis using up-to-date Bayesian methods. The authors—all leaders in the statistics community—introduce basic concepts from a data-analytic perspective before presenting advanced methods. Throughout the text, numerous worked examples drawn from real applications and research emphasize the use of Bayesian inference in practice. New to the Third Edition Four new chapters on nonparametric modeling Coverage of weakly informative priors and boundary-avoiding priors Updated discussion of cross-validation and predictive information criteria Improved convergence monitoring and effective sample size calculations for iterative simulation Presentations of Hamiltonian Monte Carlo, variational Bayes, and expectation propagation New and revised software code The book can be used in three different ways. For undergraduate students, it introduces Bayesian inference starting from first principles. For graduate students, the text presents effective current approaches to Bayesian modeling and computation in statistics and related fields. For researchers, it provides an assortment of Bayesian methods in applied statistics. Additional materials, including data sets used in the examples, solutions to selected exercises, and software instructions, are available on the book’s web page.

The Limits of Inference without Theory

Author : Kenneth I. Wolpin
Publisher : MIT Press
ISBN 13 : 0262019086
Total Pages : 197 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis The Limits of Inference without Theory by : Kenneth I. Wolpin

Download or read book The Limits of Inference without Theory written by Kenneth I. Wolpin and published by MIT Press. This book was released on 2013-04-26 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of theory in ex ante policy evaluations and the limits that eschewing theory places on inference In this rigorous and well-crafted work, Kenneth Wolpin examines the role of theory in inferential empirical work in economics and the social sciences in general—that is, any research that uses raw data to go beyond the mere statement of fact or the tabulation of statistics. He considers in particular the limits that eschewing the use of theory places on inference. Wolpin finds that the absence of theory in inferential work that addresses microeconomic issues is pervasive. That theory is unnecessary for inference is exemplified by the expression “let the data speak for themselves.” This approach is often called “reduced form.” A more nuanced view is based on the use of experiments or quasi-experiments to draw inferences. Atheoretical approaches stand in contrast to what is known as the structuralist approach, which requires that a researcher specify an explicit model of economic behavior—that is, a theory. Wolpin offers a rigorous examination of both structuralist and nonstructuralist approaches. He first considers ex ante policy evaluation, highlighting the role of theory in the implementation of parametric and nonparametric estimation strategies. He illustrates these strategies with two examples, a wage tax and a school attendance subsidy, and summarizes the results from applications. He then presents a number of examples that illustrate the limits of inference without theory: the effect of unemployment benefits on unemployment duration; the effect of public welfare on women's labor market and demographic outcomes; the effect of school attainment on earnings; and a famous field experiment in education dealing with class size. Placing each example within the context of the broader literature, he contrasts them to recent work that relies on theory for inference.

Dynamic Linear Models with R

Author : Giovanni Petris
Publisher : Springer Science & Business Media
ISBN 13 : 0387772383
Total Pages : 258 pages
Book Rating : 4.3/5 (877 download)

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Book Synopsis Dynamic Linear Models with R by : Giovanni Petris

Download or read book Dynamic Linear Models with R written by Giovanni Petris and published by Springer Science & Business Media. This book was released on 2009-06-12 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: State space models have gained tremendous popularity in recent years in as disparate fields as engineering, economics, genetics and ecology. After a detailed introduction to general state space models, this book focuses on dynamic linear models, emphasizing their Bayesian analysis. Whenever possible it is shown how to compute estimates and forecasts in closed form; for more complex models, simulation techniques are used. A final chapter covers modern sequential Monte Carlo algorithms. The book illustrates all the fundamental steps needed to use dynamic linear models in practice, using R. Many detailed examples based on real data sets are provided to show how to set up a specific model, estimate its parameters, and use it for forecasting. All the code used in the book is available online. No prior knowledge of Bayesian statistics or time series analysis is required, although familiarity with basic statistics and R is assumed.

Frailty Models in Survival Analysis

Author : Andreas Wienke
Publisher : CRC Press
ISBN 13 : 9781420073911
Total Pages : 324 pages
Book Rating : 4.0/5 (739 download)

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Book Synopsis Frailty Models in Survival Analysis by : Andreas Wienke

Download or read book Frailty Models in Survival Analysis written by Andreas Wienke and published by CRC Press. This book was released on 2010-07-26 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of frailty offers a convenient way to introduce unobserved heterogeneity and associations into models for survival data. In its simplest form, frailty is an unobserved random proportionality factor that modifies the hazard function of an individual or a group of related individuals. Frailty Models in Survival Analysis presents a comprehensive overview of the fundamental approaches in the area of frailty models. The book extensively explores how univariate frailty models can represent unobserved heterogeneity. It also emphasizes correlated frailty models as extensions of univariate and shared frailty models. The author analyzes similarities and differences between frailty and copula models; discusses problems related to frailty models, such as tests for homogeneity; and describes parametric and semiparametric models using both frequentist and Bayesian approaches. He also shows how to apply the models to real data using the statistical packages of R, SAS, and Stata. The appendix provides the technical mathematical results used throughout. Written in nontechnical terms accessible to nonspecialists, this book explains the basic ideas in frailty modeling and statistical techniques, with a focus on real-world data application and interpretation of the results. By applying several models to the same data, it allows for the comparison of their advantages and limitations under varying model assumptions. The book also employs simulations to analyze the finite sample size performance of the models.

Longitudinal Analysis of Labor Market Data

Author : James J. Heckman
Publisher : Cambridge University Press
ISBN 13 : 9780521088183
Total Pages : 0 pages
Book Rating : 4.0/5 (881 download)

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Book Synopsis Longitudinal Analysis of Labor Market Data by : James J. Heckman

Download or read book Longitudinal Analysis of Labor Market Data written by James J. Heckman and published by Cambridge University Press. This book was released on 2008-10-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Longitudinal Analysis of Labor Market Data presents a set of papers by leading scholars on methods for analysing the longitudinal data that is available on numerous topics of interest to social scientists. Because many sources of longitudinal data record labour market phenomena such as unemployment, labour supply, earnings mobility, job turnover and participation in training programmes, all of the papers collected in this volume focus on models of the labour market. The main methodological points, however, are more general and apply to such diverse areas as demography, life science analysis and training evaluation, to name only a few, potential avenues of application. The book contains important methodological contributions to the emerging field of longitudinal analysis and is of interest to a wide range of social scientists.

Social Science Research

Author : Anol Bhattacherjee
Publisher : CreateSpace
ISBN 13 : 9781475146127
Total Pages : 156 pages
Book Rating : 4.1/5 (461 download)

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Book Synopsis Social Science Research by : Anol Bhattacherjee

Download or read book Social Science Research written by Anol Bhattacherjee and published by CreateSpace. This book was released on 2012-04-01 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is designed to introduce doctoral and graduate students to the process of conducting scientific research in the social sciences, business, education, public health, and related disciplines. It is a one-stop, comprehensive, and compact source for foundational concepts in behavioral research, and can serve as a stand-alone text or as a supplement to research readings in any doctoral seminar or research methods class. This book is currently used as a research text at universities on six continents and will shortly be available in nine different languages.

Partial Identification of Probability Distributions

Author : Charles F. Manski
Publisher : Springer Science & Business Media
ISBN 13 : 038721786X
Total Pages : 188 pages
Book Rating : 4.3/5 (872 download)

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Book Synopsis Partial Identification of Probability Distributions by : Charles F. Manski

Download or read book Partial Identification of Probability Distributions written by Charles F. Manski and published by Springer Science & Business Media. This book was released on 2006-04-29 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents in a rigorous and thorough manner the main elements of Charles Manski's research on partial identification of probability distributions. The approach to inference that runs throughout the book is deliberately conservative and thoroughly nonparametric. There is an enormous scope for fruitful inference using data and assumptions that partially identify population parameters.