In this paper a simultaneous-equations model of firm closing and wage determination is developed in order to analyse how wages adjust to unfavorable shocks that raise the risk of displacement through firm closing, and to what extent a wage change affects the exit likelihood. The results show that the fear of job loss generates bargaining concessions instead of compensating differentials. A nove...

Event history data provide a longitudinal record of the timing of events such as partnership formation and dissolution, births, and changes in employment and housing. Typically outcomes of one process will influence the occurrence of events in another process. For example the presence of children, who constitute prior outcomes of the fertility process, is often found to be negatively associated...

Copulas are functions that describe the dependence between two or more random variables. This article provides a brief review of copula theory and two areas of economics in which copulas have played important roles: multivariate modeling and partial identification of parameters that depend on the joint distribution of two random variables with fixed or knownmarginal distributions.We focus on bi...

Malaria tends to have a negative correlation with national income per capita. Many existing studies emphasize how falling rates of malaria can enhance economic development due to the beneficial effect on human capital. This paper emphasizes that causality may also run in the opposite direction, in particular, that higher incomes—arising for reasons having nothing to do with human capital—may al...

This paper analyzes conditions under which various single-equation estimators are asymptotically normal in a simultaneous equations framework with many weak instruments. In particular, our paper adds to the many instruments asymptotic normality literature, including papers by Morimune (1983), Bekker (1994), Angrist and Krueger (1995), Donald and Newey (2001), Hahn, Hausman, and Kuersteiner (200...

We execute four theoretically motivated replications of earlier analyses on business value of information technology (IT). We classify firm level IT value research and select alternative studies to understand and the core logics of current research and its sensitivity to used measures. Simultaneous replication of several models enables generalization across a variety of constructs, and abstract...

G21 Z̃22 Z̃23 Z̃24 W̃21 G31 Z̃32 Z̃33 Z̃34 W̃31 G41 G42 Z̃43 Z̃44 W̃41 G51 G52 Z̃53 Z̃54 W̃51 Z11 Z12 Z13 Z14 W11 G21 Z̃22 Z̃23 Z̃24 W̃21 G31 Z̃32 Z̃33 Z̃34 W̃31 G41 G42 Z̃43 Z̃44 W̃41 G51 G52 Z̃53 Z̃54 W̃51 Two-Stage Least Squares algorithms with QR decomposition for Simultaneous Equations Models on heterogeneous multicore and multi-GPU systems Carla Ramiroa, José J. López-Espínb, Domingo Giménezc and Antonio M. Vidala

This paper presents a simple two-step nonparametric estimator for a triangular simultaneous equation model. Our approach employs series approximations that exploit the additive structure of the model. The first step comprises the nonparametric estimation of the reduced form and the corresponding residuals. The second step is the estimation of the primary equation via nonparametric regression wi...

This paper presents a new approximation to the exact sampling distribution of the instrumental variables estimator in simultaneous equations models. It differs from many of the approximations currently available, Edgeworth expansions for example, in that it is specifically designed to work well when the concentration parameter is small. The approximation is remarkable for its simplicity, for it...