Search results for "generalized method of moments"
showing 6 items of 6 documents
Production Function Estimation in Stata Using the Ackerberg–Caves–Frazer Method
2016
We present a new e-class command, acfest, that implements the method of Ackerberg, Caves, and Frazer (2015, Econometrica 83: 2411–2451) to estimate production functions. This method deals with the functional dependence problems that may arise in the methods proposed by Olley and Pakes (1996, Econometrica 64: 1263–1297) and, particularly, Levinsohn and Petrin (2003, Review of Economic Studies 70: 317–341) (implemented in Stata by Yasar, Raciborski, and Poi [2008, Stata Journal 8: 221–231] and Petrin, Poi, and Levinsohn [2004, Stata Journal 4: 113–123], respectively). In particular, the acfest command yields (nonlinear, robust) generalized method of moments estimates using a Mata function an…
Olley–Pakes productivity decomposition: computation and inference
2016
Summary We show how a moment-based estimation procedure can be used to compute point estimates and standard errors for the two components of the widely used Olley–Pakes decomposition of aggregate (weighted average) productivity. When applied to business level microdata, the procedure allows for autocovariance and heteroscedasticity robust inference and hypothesis testing about, for example, the coevolution of the productivity components in different groups of firms. We provide an application to Finnish firm level data and find that formal statistical inference casts doubt on the conclusions that one might draw on the basis of a visual inspection of the components of the decomposition.
Vai strukturālās reformas spēs veicināt Latvijas ekonomisko izaugsmi: BMA un GMM novērtējumu liecības
2017
Pētījuma ietvaros tiek pielietota Beijesa modeļu svēršana (BMA) un vispārīgā momentu metode (GMM) Globālās Konkurētspējas apakšindeksu (GCI) datiem, lai identificētu strukturālo reformu jomas, kas var nozīmīgi paātrināt Latvijas ekonomisko izaugsmi. Novērtējumu rezultāti, kuros ņemta vērā gan modeļu nenoteiktība, gan endogenitāte liecina, ka ekonomisko izaugsmi var veicināt ar augstākām investīcijām, zemāku administratīvo slogu, stabilāku makroekonomisko vidi, paaugstinātu ārvalsts tiešo investīciju kvalitāti, kā arī ar attīstītākiem uzņēmējdarbības klasteriem. Ja šajās jomās Latvijas sniegums pēdējo 10 gadu laikā būtu trīs labāko Eiropas Savienības dalībvalstu līmenī, tad ienākumu līmenis …
Complementarities in innovation strategy: do intangibles play a role in enhancing firm performance?
2017
This article assesses the role of investments in intangible capital and their potential complementarities as a way to improve firm productivity. We focus on the three intangible resources that, according to the literature, have the greatest strategic importance: research and development (R & D), advertising, and human capital. To test our hypotheses, we use a large sample of Spanish manufacturing firms and consider estimates of total factor productivity through a generalized method of moments approach. Our results show evidence of complementarities between R & D and advertising investments and between advertising and human capital. However, they are not conclusive in the case of R & D and h…
Testing the Role of Comparative Advantage and Learning in Wage and Promotion Dynamics
2012
PurposeThe purpose of this paper is to investigate empirically whether job assignment, based on comparative advantage and learning about workers’ abilities, can explain wage and promotion dynamics within firms.Design/methodology/approachThe Gibbons and Waldman model is estimated in a generalized method of moments (GMM) framework using a unique data set on white‐collar workers in Norway, for the years 1987‐1997. The estimation is carried out on two occupational groups: technical and administrative white‐collar workers.FindingsThe placing of workers in a given position within a firm's hierarchy is based on comparative advantage. Both measurable and unmeasurable skills are important. This hold…
Determinants of Immigration in Europe. The Relevance of Life Expectancy and Environmental Sustainability
2017
This research analyzes the main variables that determine immigration in Europe and includes aspects related to the economy, population, healthcare, and environmental sustainability. The empirical analysis consists of two sets of data: one made up of all EU member states (EU-28) and the other containing countries that form a part of the Eurozone (EU-19), using the Generalized Method of Moments. The sample covers the period between 2000 and 2014, and the data are analyzed separately and comparatively in the most relevant stages during that time (economic prosperity, crisis, and recovery). The most notable results indicate that the variables related to GDP and public debt largely serve to just…