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On the Identifiability of Euler Equation Estimates under Saddlepath Stability
"... second revision June 20001 In all but the most trivial settings Euler equation estimation in saddlepath stable systems is faced with a fundamental identification problem: The Euler equation allows for an unstable root (of its characteristic equation), while the data used to estimate the Euler equati ..."
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second revision June 20001 In all but the most trivial settings Euler equation estimation in saddlepath stable systems is faced with a fundamental identification problem: The Euler equation allows for an unstable root (of its characteristic equation), while the data used to estimate the Euler
Euler Equation Estimation for Discrete Choice Models: A Capital Accumulation Application ∗
, 2007
"... This paper studies capital adjustment costs at the establishment level. Our goal here is to characterize these adjustment costs, which are important for understanding both the dynamics of aggregate investment and the impact of various policies on capital accumulation. Our estimation strategy searche ..."
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searches for parameters that minimize ex post errors in an Euler equation. This strategy is quite common in models for which adjustment occurs in consecutive periods. Here, we extend that logic to the estimation of parameters of dynamic optimization problems in which nonconvexities lead to extended
Identifying Euler equations estimated by nonlinear IV/GMM
, 2000
"... In this article, the identification of instrumental variables and generalised method of moment (GMM) estimators is discussed. It is common that representations of such models are derived from the solution to linear quadratic optimisation problems. Here, it is shown that even though the rank conditio ..."
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Cited by 1 (1 self)
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In this article, the identification of instrumental variables and generalised method of moment (GMM) estimators is discussed. It is common that representations of such models are derived from the solution to linear quadratic optimisation problems. Here, it is shown that even though the rank
RWP 1004EulerEquation Estimation for Discrete Choice Models: A Capital Accumulation Application �
, 2010
"... This paper studies capital adjustment at the establishment level. Our goal is to characterize capital adjustment costs, which are important for understanding both the dynamics of aggregate investment and the impact of various policies on capital accumulation. Our estimation strategy searches for par ..."
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for parameters that minimize ex post errors in an Euler equation. This strategy is quite common in models for which adjustment occurs in each period. Here, we extend that logic to the estimation of parameters of dynamic optimization problems in which nonconvexities lead to extended periods of investment
KOÇ UNIVERSITYTÜSİAD ECONOMIC RESEARCH FORUM WORKING PAPER SERIES EULER EQUATION ESTIMATION ON MICRO DATA
, 2012
"... First order conditions from the dynamic optimization problems of consumers and firms are important tools in empirical macroeconomics. When estimated on microdata these equations are typically linearized so standard IV or GMM methods can be employed to deal with the measurement error that is endemi ..."
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and relevance of conventional instruments, the consequences of different data sampling schemes, and the effectiveness of alternative estimation strategies. The firstorder Euler equation leads to biased estimates of the EIS, but that bias is perhaps not too large when there is a sufficient time dimension
that full credit, including © notice, is given to the source. EulerEquation Estimation for Discrete Choice Models: A Capital Accumulation Application
, 2010
"... the NSF under grant #0819682 for financial support. The views expressed herein are solely those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Kansas City, the Federal Reserve System, the U.S. Census Bureau, or the National Bureau of Economic Research. All res ..."
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the NSF under grant #0819682 for financial support. The views expressed herein are solely those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Kansas City, the Federal Reserve System, the U.S. Census Bureau, or the National Bureau of Economic Research. All results have been reviewed to ensure that no confidential information is disclosed. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.
EulerEquation Estimation for Discrete Choice Models: A Capital Accumulation Application”NBER Working Paper No
, 2010
"... This paper studies capital adjustment costs at the establishment level. Our goal here is to characterize these adjustment costs, which are important for understanding both the dynamics of aggregate investment and the impact of various policies on capital accumulation. Our estimation strategy searche ..."
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Cited by 2 (0 self)
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searches for parameters that minimize ex post errors in an Euler equation. This strategy is quite common in models for which adjustment occurs in consecutive periods. Here, we extend that logic to the estimation of parameters of dynamic optimization problems in which nonconvexities lead to extended
Identifying asymmetric, multiperiod Euler equations estimated by nonlinear IV/GMM.
, 2004
"... In this article, the identi…cation of instrumental variables and generalized method of moment (GMM) estimators with multiperiod perceptions is discussed. The state space representation delivers a conventional …rst order condition that is solved for expectations when the Generalized Bézout Theorem h ..."
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In this article, the identi…cation of instrumental variables and generalized method of moment (GMM) estimators with multiperiod perceptions is discussed. The state space representation delivers a conventional …rst order condition that is solved for expectations when the Generalized Bézout Theorem
Numerical Solutions of the Euler Equations by Finite Volume Methods Using RungeKutta TimeStepping Schemes
, 1981
"... A new combination of a finite volume discretization in conjunction with carefully designed dissipative terms of third order, and a Runge Kutta time stepping scheme, is shown to yield an effective method for solving the Euler equations in arbitrary geometric domains. The method has been used to deter ..."
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Cited by 456 (78 self)
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A new combination of a finite volume discretization in conjunction with carefully designed dissipative terms of third order, and a Runge Kutta time stepping scheme, is shown to yield an effective method for solving the Euler equations in arbitrary geometric domains. The method has been used
Endpoint Strichartz estimates
 Amer. J. Math
, 1998
"... Abstract. We prove an abstract Strichartz estimate, which implies previously unknown endpoint Strichartz estimates for the wave equation (in dimension n 4) and the Schrödinger equation (in dimension n 3). Three other applications are discussed: local existence for a nonlinear wave equation; and Stri ..."
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Cited by 525 (42 self)
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Abstract. We prove an abstract Strichartz estimate, which implies previously unknown endpoint Strichartz estimates for the wave equation (in dimension n 4) and the Schrödinger equation (in dimension n 3). Three other applications are discussed: local existence for a nonlinear wave equation
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