This paper studies the robustness of estimated policy effects to changes in the distribution of covariates. Robustness to covariate shifts is important, for example, when evaluating the external validity of (quasi)-experimental results, which are …
This paper studies the implication of a fraction of the population not responding to the instrument when selecting into treatment. We show that, in general, the presence of non-responders biases the Marginal Treatment Effect (MTE) curve and many of …
This project focuses on the exercise of comparing coefficients across regression specifications, broadly known as robustness checks, a very popular tool in applied economic research. The econometric literature has proposed to formalize this …
The classic Arrow-Debreu (1954) general equilibrium model cannot sustain or account for the existence of money. This lacuna arises because each household and firm faces a single budget constraint summarizing revenue and expense in all commodities. …
A thick market external effect is applied to a trading post model of \\( N\geq 3 \\) commodities with transaction costs and distinct bid and ask prices. We state and prove an existence theorem for general equilibrium with external effects in the …