An alternative two-step generalized method of moments estimator based on a reduced form model

2020 ◽  
Vol 192 ◽  
pp. 109184
Author(s):  
Doosoo Kim
Keyword(s):  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
Reduced Form ◽  
Form Model ◽  
Reduced Form Model ◽  
Method Of Moments Estimator

Using information from singletons in fixed-effects estimation: xtfesing

2020 ◽  
Vol 20 (4) ◽  
pp. 965-975
Author(s):  
Laura Magazzini ◽  
Randolph Luca Bruno ◽  
Marco Stampini
Keyword(s):  
Panel Data ◽  
Method Of Moments ◽  
Fixed Effects ◽  
Generalized Method Of Moments ◽  
Panel Data Regression ◽  
Data Regression ◽  
Method Of Moments Estimator ◽  
Fixed Effects Estimation

In this article, we describe the xtfesing command. The command implements a generalized method of moments estimator that allows exploiting singleton information in fixed-effects panel-data regression as in Bruno, Magazzini, and Stampini (2020, Economics Letters 186: Article 108519).

scholarly journals A Crook is a Crook . . . But is He Still a Crook Abroad? On the Effect of Immigration on Destination-Country Corruption

2015 ◽  
Vol 16 (4) ◽  
pp. 464-489 ◽  
Author(s):  
Eugen Dimant ◽  
Margarete Redlin ◽  
Tim Krieger
Keyword(s):  
Method Of Moments ◽  
Fixed Effects ◽  
Generalized Method Of Moments ◽  
Destination Country ◽  
Estimation Methods ◽  
Econometric Methodology ◽  
Migration Flows ◽  
The Difference ◽  
Method Of Moments Estimator ◽  
The Impact

AbstractThis paper analyzes the impact of migration on destination-country corruption levels. Capitalizing on a comprehensive dataset consisting of annual immigration stocks of OECD countries from 207 countries of origin for the period 1984-2008, we explore different channels through which corruption might migrate. We employ different estimation methods using fixed effects and Tobit regressions in order to validate our findings. Moreover, we also address the issue of endogeneity by using the Difference- Generalized Method of Moments estimator. Independent of the econometric methodology, we consistently find that while general migration has an insignificant effect on the destination country’s corruption level, immigration from corruption-ridden origin countries boosts corruption in the destination country. Our findings provide a more profound understanding of the socioeconomic implications associated with migration flows.

scholarly journals FINANCING OF WORKING CAPITAL REQUIREMENT, FINANCIAL FLEXIBILITY AND SME PERFORMANCE

2016 ◽  
Vol 17 (6) ◽  
pp. 1189-1204 ◽  
Author(s):  
Sonia BAÑOS-CABALLERO ◽  
Pedro J. GARCÍA-TERUEL ◽  
Pedro MARTÍNEZ-SOLANO
Keyword(s):  
Firm Performance ◽  
Financial Crisis ◽  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
Capital Requirement ◽  
Working Capital ◽  
Financial Flexibility ◽  
Method Of Moments Estimator ◽  
Financing Performance ◽  
Financing Strategy

This paper investigates the relation between the financing strategies of working capital requirement and firm performance for the period 1997 to 2012. Using the two-step generalized method of moments estimator, we find that a suitable financing strategy can help firms improve their performance. Moreover, the results indicate that the working capital requirement financing-performance relation changes during a financial crisis. Finally, we also find that this relation depends on a firm’s financial flexibility. The findings are of interest for managers and researchers and show that managers should not only be concerned about investing in working capital requirement but also consider how this investment is to be financed. To the best of our knowledge, this is the first paper to analyse how the financing strategy selected by firms to finance their working capital requirement affects their performance.

scholarly journals European Bank’s Performance and Efficiency

2020 ◽  
Vol 13 (4) ◽  
pp. 67 ◽  
Author(s):  
Maria Elisabete Duarte Neves ◽  
Maria Do Castelo Gouveia ◽  
Catarina Alexandra Neves Proença
Keyword(s):  
Method Of Moments ◽  
Critical Role ◽  
Generalized Method Of Moments ◽  
Data Envelopment ◽  
Economic Stability ◽  
Banking Efficiency ◽  
Bank Profitability ◽  
Macroeconomic Conditions ◽  
Managerial Decisions ◽  
Method Of Moments Estimator

The research interest in bank profitability and efficiency is linked to the economic situation and an important issue for policymakers is to ensure economic stability. Nevertheless, managerial decisions and the environment could play a critical role in ensuring proper and efficient allocation of the resources. The purpose of this study is to understand which are the main factors that can influence the performance and efficiency of 94 commercial listed banks from Eurozone countries through a dynamic evaluation, in the period between 2011 and 2016. To achieve this aim, the generalized method of moments estimator technique is used to analyze the influence of some bank-specific characteristics, controlled by management, on the profitability as a measure of bank performance. After that, through the value-based data envelopment analysis (DEA) methodology, those factors are considered in determining the efficient banks. The results show that banking efficiency depends on set bank-specific characteristics and that the effect of determinants on efficiency differs, considering the macroeconomic conditions.

A Reduced Form Model of Default Spreads with Markov-Switching Macroeconomic Factors

2010 ◽  
Author(s):  
Georges Dionne ◽  
Genevieve Gauthier ◽  
Khemais Hammami ◽  
Mathieu Maurice ◽  
Jean-Guy Simonato
Keyword(s):  
Markov Switching ◽  
Reduced Form ◽  
Macroeconomic Factors ◽  
Form Model ◽  
Reduced Form Model

scholarly journals Measuring the Impact of Promotions on Brand Switching When Consumers Are Forward Looking

2003 ◽  
Vol 40 (4) ◽  
pp. 389-405 ◽  
Author(s):  
Baohong Sun ◽  
Scott A. Neslin ◽  
Kannan Srinivasan
Keyword(s):  
Structural Model ◽  
Simulated Data ◽  
Real Data ◽  
Reduced Form ◽  
Coefficient Estimates ◽  
Dynamic Structural Model ◽  
Brand Switching ◽  
Form Model ◽  
Reduced Form Model ◽  
The Impact

Logit choice models have been used extensively to study promotion response. This article examines whether brand-switching elasticities derived from these models are overestimated as a result of rational consumer adjustment of purchase timing to coincide with promotion schedules and whether a dynamic structural model can address this bias. Using simulated data, the authors first show that if the structural model is correct, brand-switching elasticities are overestimated by stand-alone logit models. A nested logit model improves the estimates, but not completely. Second, the authors estimate the models on real data. The results indicate that the structural model fits better and produces sensible coefficient estimates. The authors then observe the same pattern in switching elasticities as they do in the simulation. Third, the authors predict sales assuming a 50% increase in promotion frequency. The reduced-form models predict much higher sales levels than does the dynamic structural model. The authors conclude that reduced-form model estimates of brand-switching elasticities can be overstated and that a dynamic structural model is best for addressing the problem. Reduced-form models that include incidence can partially, though not completely, address the issue. The authors discuss the implications for researchers and managers.

A reduced form model of default spreads with Markov-switching macroeconomic factors

2011 ◽  
Vol 35 (8) ◽  
pp. 1984-2000 ◽  
Author(s):  
Georges Dionne ◽  
Geneviève Gauthier ◽  
Khemais Hammami ◽  
Mathieu Maurice ◽  
Jean-Guy Simonato
Keyword(s):  
Markov Switching ◽  
Reduced Form ◽  
Macroeconomic Factors ◽  
Form Model ◽  
Reduced Form Model
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