In this paper the outlier robustGMM panel data estimator recently proposed byLucas, van Dijk, and Kloek (1994) is applied to anEuler equation model of firm investment behaviourwith imperfectly competitive…
Many firms closed down during the transformation process in East Germany. The firms surviving from the former GDR have not reached the required level of economic Performance. Therefore, particularly new…
In the 1980s benefit-entitlement periods for older workers with long previous employment have been extended considerably in several steps. At the same time, income replacement ratios have been slightly reduced…
This paper gives a short overview of Monte Carlo studies on the usefulness of Heckman's (1976, 1979) two-step estimator for estimating a selection model. It shows that exploratory work to check for collinearity…