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SVARs are widely used for policy analysis and to provide stylized facts for dynamic general equilibrium models. Yet there have been no workable rank conditions to ascertain whether an SVAR is globally identified. When identifying restrictions, such as long-run restrictions, are imposed on impulse responses, there have been no efficient algorithms for(More)
This paper considers estimation and inference in panel vector autoregressions (PVARs) with fixed effects when the time dimension of the panel is finite, and the cross-sectional dimension is large. A Maximum Likelihood (ML) estimator based on a transformed likelihood function is proposed and shown to be consistent and asymptotically normally distributed(More)
Random Coefficient Panel Data Models This paper provides a review of linear panel data models with slope heterogeneity, introduces various types of random coefficients models and suggest a common framework for dealing with them. It considers the fundamental issues of statistical inference of a random coefficients formulation using both the sampling and(More)
We propose a simple to implement panel data method to evaluate the impacts of social policy. The basic idea is to exploit the dependence among cross-sectional units to construct the counterfactuals. The cross-sectional correlations are attributed to the presence of some (unobserved) common factors. However, instead of trying to estimate the unobserved(More)
This paper uses a national survey of 200 Chinese town and village enterprises (TVEs) from 1985 to 1990 to explore empirically the effect of contractual arrangements on the performance of enterprises under Chinese institutional conditions. A theoretical model that emphasizes a potentially important role for local government effort in a situation of(More)
BACKGROUND Acute pancreatitis as a complication of organophosphate intoxication has been infrequently addressed. Previous reports have suggested that acute pancreatitis may follow the oral ingestion of several organophosphates, including parathion, malathion, difonate, coumaphos, and diazinon, or after cutaneous exposure to dimethoate. No cases of acute(More)
This paper considers the problem of consistent model specification tests using series estimation methods. The null models we consider in this paper all contain some nonparametric components. A leading case we consider is to test for an additive partially linear model. The null distribution of the test statistic is derived using a central limit theorem for(More)
Our paper estimates the effect of U.S. internal migration on wage growth for young men between their first and second job. Our analysis of migration extends previous research by: i) exploiting the distance-based measures of migration in the National Longitudinal Surveys of Youth 1979 (NLSY79); ii) allowing the effect of migration to differ by schooling(More)