#### Filter Results:

#### Publication Year

2001

2015

#### Publication Type

#### Co-author

#### Publication Venue

#### Key Phrases

Learn More

- Yong Bao, Tae-Hwy Lee, Burak Salto, Jin-Seo Cho, Alexei V Egorov, Lutz Kilian +3 others
- 2004

In this paper we propose a testing procedure for comparing the predictive abilities of possibly misspecified density forecast models. We use the minimum Kullback-Leibler Information Criterion (KLIC) divergence measure to define the distance between the candidate density forecast model and the true model. We use the fact that the inverse-normal transform of… (More)

- Yong Bao, Tae-Hwy Lee, Burak Salto, Allan Timmermann, Jin-Seo Cho, Alexei V Egorov +6 others
- 2006

In this paper we discuss how to compare various (possibly misspecified) density forecast models using the Kullback-Leibler Information Criterion (KLIC) of a candidate density forecast model with respect to the true density. The KLIC-differential between a pair of competing models is the (predictive) log-likelihood ratio (LR) between the two models. Even… (More)

We propose a partially adaptive estimator based on information theoretic maximum entropy estimates of the error distribution. The maximum entropy (maxent) densities have simple yet flexible functional forms to nest most of the mathematical distributions. Unlike the nonparametric fully adaptive estimators, our parametric esti-mators do not involve choosing a… (More)

Marginal tax rates have larger income redistribution and equilibrating welfare effects than do social insurance or direct transfer programs. The Earned Income Tax Credit has smaller but still statistically significant desirable effects. Social insurance programs have little effect except for Supplemental Security Income, which increases equality. The… (More)

We use a new method to estimate China's income distributions using publicly available interval summary statistics from China's largest national household survey. We examine rural, urban, and overall income distributions for each year from 1985-2001. By estimating the entire distributions, we can show how the distributions change directly as well as examine… (More)

We are very grateful to Peter Lanjouw, Shaohua Chen, and James Galbraith for extremely helpful comments, and Youjuan Wang, director of the household survey division of the Urban Survey Organization at the National Bureau of Statistics of China, for explaining many features of the Chinese urban survey. Ximing Wu acknowledges financial support from Social… (More)

A semi-parametric econometric model is used to study the relationship between malaria cases and climatic factors in 25 African countries. Results show that a marginal change in temperature and precipitation levels would lead to a significant change in the number of malaria cases for most countries by the end of the century. Consistent with the existing… (More)

Traditional treatments of tax pass through examine the tax incidence, which makes sense when the law of one price holds. However in markets with a price distribution, a tax may have an uneven effect across the price distribution so that the tax incidence varies across the distribution. We illustrate variation in tax incidence using two relatively simple… (More)

We are very grateful to the University of California Institute of Industrial Relations and the Giannini Foundation for financial support.

We develop a GMM estimator for the distribution of a variable where summary statistics are available only for intervals of the random variable. Without individual data, one cannot calculate the weighting matrix for the GMM estimator. Instead, we propose a simulated weighting matrix based on a first-step consistent estimate. When the functional form of the… (More)