| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3068 |
| DP3068 Educational Attainment, Labour Market Institutions and the Structure of Production | |
| Stephen Nickell; Stephen Redding; Joanna K Swaffield | |
| 发表日期 | 2001-11-11 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | This Paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments for subsequent first-differences. Revisiting the work of Caselli, Esquivel and Lefort (1996), we show that this problem may be serious in practice. We suggest using a more efficient GMM estimator that exploits stationarity restrictions and this approach is shown to give more reasonable results than first-differenced GMM in our estimation of an empirical growth model. |
| 主题 | International Macroeconomics |
| 关键词 | Convergence Growth Generalized method of moments Weak instruments |
| URL | https://cepr.org/publications/dp3068 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532100 |
| 推荐引用方式 GB/T 7714 | Stephen Nickell,Stephen Redding,Joanna K Swaffield. DP3068 Educational Attainment, Labour Market Institutions and the Structure of Production. 2001. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
