...Mostly Harmless Econometrics: An Empiricist’ Companion s Joshua D. Angrist Massachusetts Institute of Technology Jörn-Ste¤en Pischke The London School of Economics March 2008 ii Contents Preface Acknowledgments Organization of this Book xi xiii xv I Introduction 1 3 9 10 12 16 1 Questions about Questions 2 The Experimental Ideal 2.1 2.2 2.3 The Selection Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Random Assignment Solves the Selection Problem . . . . . . . . . . . . . . . . . . . . . . . . Regression Analysis of Experiments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . II The Core 19 21 22 23 26 30 36 38 38 44 47 51 51 3 Making Regression Make Sense 3.1 Regression Fundamentals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1.1 3.1.2 3.1.3 3.1.4 3.2 Economic Relationships and the Conditional Expectation Function . . . . . . . . . . . Linear Regression and the CEF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Asymptotic OLS Inference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Saturated Models, Main E¤ects, and Other Regression Talk . . . . . . . . . . . . . . . Regression and Causality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2.1 3.2.2 3.2.3 The Conditional Independence Assumption . . . . . . . . . . . . . . . . . . . . . . . . The Omitted Variables Bias Formula . ....
Words: 114745 - Pages: 459
.... ] Breaking the Book Known as Q Readers, in fact, never confront abstract, idealized texts detached from any materiality. ey hold in their hands or perceive objects and forms whose structures and modalities govern their reading or hearing, and consequently the possible comprehension of the text read or heard. —Roger Chartier O let my books be then the eloquence . . . —“23” Shake-speares Sonnets I COLEMAN HUTCHISON is a PhD candidate in the Department of English at Northwestern University. He is completing a dissertation entitled “Revision, Reunion, and the American Civil War Text.” N THE FIRST SENTENCE OF HER ART OF SHAKESPEARE’S SONNETS, Helen Vendler tells a little white lie: “I have reprinted both the 1609 quarto Sonnets and a modernized version of my own” (xiii). e crux of this declaration is “reprinted.” Vendler does indeed print a version of the 1609 quarto—or “Q,” as it is referred to bibliographically; one could even say that she “reprints” the type of the quarto. Vendler does not, however, “reprint” the 1609 quarto Sonnets. Like nearly every modern editor before her, Vendler presents the poems as discrete units on a page, eliding and ignoring the page breaks that so o en—and, I will argue, so meaningfully—interrupt the poems. In “reprinting” these poems, Vendler uses a de cut-and-paste method to rearrange, re-member, and reconstitute the type of the 1609 quarto into uninterrupted material units, into what we would visually recognize as “sonnets.” e...
Words: 11505 - Pages: 47
...POLITICS, THEOLOGY AND HISTORY RAYMOND PLANT CAMBRIDGE UNIVERSITY PRESS Politics, Theology and History is a major new book by a prominent academic and an active politician. It ranges widely across the disciplines of theology, political theory and philosophy and poses acute questions about the basic moral foundations of liberal societies. Lord Plant focuses on the role that religious belief can and ought to play in argument about public policy in a pluralistic society. He examines the potential political implications of Christian belief and the ways in which it may be deployed in political debate. The book is a contribution to the modern debate about the moral pluralism of western liberal societies, discussing the place of religious belief in the formation of policy and asking what sorts of issues in modern society might be the legitimate objects of a Christian social and political concern. Raymond Plant has written an important study of the relationship between religion and politics which will be of value to students, academics, politicians, church professionals, policy makers and all concerned with the moral fabric of contemporary life. r ay m on d pl an t is Professor of European Political Thought at the University of Southampton and a Member of the House of Lords. He was a Home affairs spokesperson for the Labour Party from 1992 to 1996, and Master of St Catherine's College, Oxford, from 1994 to 2000. Lord Plant's main publications are Social and Moral Theory in Casework...
Words: 144283 - Pages: 578
...schizophrenia, attention deficit hyperactivity disorder (ADHD), traumatic brain injuries, learning disabilities, specific language impairment (SLI), and intellectual disabilities (Van der Molen, Van Luit, Van der Molen, Klugkist, & Jongmans, 2010). With the rising awareness of how working memory deficits can effect children’s development, the question of whether speech language pathologists should assess and treat these deficits has been asked more and more. Assessing and treating working memory deficits are key and can help many different populations improve in their speech and language development. Assessment for working memory deficits and working memory training should be standard and included into the normal regime. The following paper will touch on what working memory is. As well as how a deficit in working memory can effect children’s development, whether they are typically developing children, or children with other disorders. Some assessment options and then training techniques of working memory will be introduced as well. What is Working Memory? Working memory requires the ability to attend to new information, retain incoming information, and manipulate the new information (Riccio, Cash, & Cohen, 2007). It requires information to be maintained and processed simultaneously while performing cognitive tasks (Van der Molen et al., 2010). Children use working memory on a daily basis while at school. Following multiple step directions, doing mental math, and...
Words: 3112 - Pages: 13
...This page intentionally left blank English Grammar Understanding the Basics Looking for an easy-to-use guide to English grammar? This handy introduction covers all the basics of the subject, using a simple and straightforward style. Students will ¢nd the book’s step-by-step approach easy to follow and be encouraged by its non-technical language. Requiring no prior knowledge of English grammar, the information is presented in small steps, with objective techniques to help readers apply new concepts. With clear explanations and well-chosen examples, the book gives students the tools to understand the mysteries of English grammar as well as the perfect foundation from which to move on to more advanced topics. E V E L Y N P . A L T E N B E R G is Professor in the Department of Speech-Language-Hearing Sciences at Hofstra University, NewYork. R O B E R T M . VA G O is Professor and Chair in the Department of Linguistics and Communication Disorders at Queens College, City University of NewYork. English Grammar Understanding the Basics EV E LY N P. A LT EN B E RG Hofstra University and ROB E RT M . VAG O Queens College and the Graduate Center City University of NewYork CAMBRIDGE UNIVERSITY PRESS Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo, Delhi, Dubai, Tokyo Cambridge University Press The Edinburgh Building, Cambridge CB2 8RU, UK Published in the United States of America by Cambridge University Press, New York www.cambridge...
Words: 80033 - Pages: 321
...Digital Image Processing Second Edition Rafael C. Gonzalez University of Tennessee Richard E. Woods MedData Interactive Prentice Hall Upper Saddle River, New Jersey 07458 Library of Congress Cataloging-in-Pubblication Data Gonzalez, Rafael C. Digital Image Processing / Richard E. Woods p. cm. Includes bibliographical references ISBN 0-201-18075-8 1. Digital Imaging. 2. Digital Techniques. I. Title. TA1632.G66 621.3—dc21 2001 2001035846 CIP Vice-President and Editorial Director, ECS: Marcia J. Horton Publisher: Tom Robbins Associate Editor: Alice Dworkin Editorial Assistant: Jody McDonnell Vice President and Director of Production and Manufacturing, ESM: David W. Riccardi Executive Managing Editor: Vince O’Brien Managing Editor: David A. George Production Editor: Rose Kernan Composition: Prepare, Inc. Director of Creative Services: Paul Belfanti Creative Director: Carole Anson Art Director and Cover Designer: Heather Scott Art Editor: Greg Dulles Manufacturing Manager: Trudy Pisciotti Manufacturing Buyer: Lisa McDowell Senior Marketing Manager: Jennie Burger © 2002 by Prentice-Hall, Inc. Upper Saddle River, New Jersey 07458 All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. The author and publisher of this book have used their best efforts in preparing this book. These efforts include the development, research, and testing of the theories and programs to determine their effectiveness...
Words: 66542 - Pages: 267
...The European Accounting Review 2002, 11:1, 119–151 Accounting and capital markets: a survey of the European evidence Pascal Dumontier ` Pierre Mendes-France University, Grenoble Bernard Raffournier University of Geneva ABSTRACT The relationship between accounting information and capital markets has been the subject of numerous studies, especially in the US. The purpose of this article is to examine the corresponding evidence in Europe. This review classi es the European literature into three groups: studies of the market reaction to newly released accounting information; studies of the long-term association between stock returns and accounting numbers; studies devoted to the use of accounting data by investors and to the impact of market pressure on accounting choices. The paper reviews and summarizes the main results related to each of these topics. It also addresses some methodological issues and provides suggestions for future research. 1. INTRODUCTION Since the pioneering work of Ball and Brown (1968), the relationship between accounting information and capital markets has attracted considerable attention, to the point that it is probably one of the most popular issues in the accounting literature. The interest for this subject is legitimate, given the generally accepted statement that accounting gures are aimed at providing investors with relevant information for their investment decisions. Even if accounting data are used in various contexts such as the contracting...
Words: 15961 - Pages: 64
...The Nature of Risk Preferences: Evidence from Insurance Choices Levon Barseghyany Francesca Molinari Cornell University Cornell University Ted O’ Donoghue Joshua C. Teitelbaum Cornell University Georgetown University July 21, 2010 Abstract We use data on households’ deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates "standard" risk aversion (concave utility over …nal wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear probability weighting plays the most important role in explaining the data. More speci…cally, we …nd that standard risk aversion is small, loss aversion is nonexistent, and nonlinear probability weighting is large. When we estimate restricted models, we …nd that nonlinear probability weighting alone can better explain the data than standard risk aversion alone, loss aversion alone, and standard risk aversion and loss aversion combined. Our main …ndings are robust to a variety of modeling assumptions. JEL classi…cations: D01, D03, D12, D81, G22 Keywords: deductible, loss aversion, probability weighting, risk aversion We are grateful to Darcy Steeg Morris for excellent research assistance. For helpful comments, we thank Matthew Rabin as well as seminar and conference participants at Berkeley, UCLA, the Second Annual Behavioral Economics Conference, the Summer 2010 Workshop on Behavioral/Institutional Research and Financial...
Words: 19303 - Pages: 78
...title: 0-07-008941-8. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve...
Words: 181360 - Pages: 726
...Journal of Banking & Finance 22 (1998) 613±673 The economics of small business ®nance: The roles of private equity and debt markets in the ®nancial growth cycle Allen N. Berger a a,b,* , Gregory F. Udell c Board of Governors of the Federal Reserve System, Washington, DC 20551, USA b Wharton Financial Institutions Center, Philadelphia, PA 19104, USA c Kelley School of Business, Indiana University, Bloomington, IN 47405, USA Abstract This article examines the economics of ®nancing small business in private equity and debt markets. Firms are viewed through a ®nancial growth cycle paradigm in which different capital structures are optimal at dierent points in the cycle. We show the sources of small business ®nance, and how capital structure varies with ®rm size and age. The interconnectedness of small ®rm ®nance is discussed along with the impact of the macroeconomic environment. We also analyze a number of research and policy issues, review the literature, and suggest topics for future research. Ó 1998 Published by Elsevier Science B.V. All rights reserved. JEL classi®cation: G21; G28; G34; E58; L89 Keywords: Venture capital; Small business lending; Bank; Mergers 1. Introduction The role of the entrepreneurial enterprise as an engine of economic growth has garnered considerable public attention in the 1990s. Much of this focus * Corresponding author. Tel.: 1 202 452 2903; fax: 1 202 452 5295; e-mail: aberger@frb.gov. 0378-4266/98/$19.00 Ó 1998 Published...
Words: 30009 - Pages: 121
...organisations. Formal educational programs in the practice of HRD provide a way of assisting practitioners to acquire the skills they now need for effective practice. The design of such programs, however, is problematic given the emergent and cross-disciplinary nature of the ® eld. This paper surfaces some of the challenges associated with program design for the development of HRD practitioners, drawing from discussions in, and pro® ling research from, the HRD literature. The ® nal section of the paper proposes several key areas that need to be addressed in preparatory programs for HRD practitioners. edged, for the purposes of this paper those working in organisations with positional labels including enterprise trainer, training of® cer, trainer and developer, learning strategist or consultant, performance developer, organisational developer and staff development of® cer are being collapsed into one occupational category. All of these labels have been or are being used in organisations and in the literature to designate those whose primary work is to improve performance in organisational settings through fostering learning (Mulder, 1992). The paper also uses the term Human Resource Development as an umbrella term to describe the work of such practitioners. It therefore considers HRD practice as encompassing...
Words: 7476 - Pages: 30
...JOURNAL OF RESEARCH IN SCIENCE TEACHING VOL. 38, NO. 2, PP. 222 ± 259 (2001) Using a Metaphor for Learning to Improve Students' Metacognition in the Chemistry Classroom Gregory P. Thomas1 and Campbell J. McRobbie2 1 Department of Curriculum Studies, The University of Hong Kong, Pok Fu Lam Road, Hong Kong S.A.R., China 2 Centre for Mathematics and Science Education, Queensland University of Technology, Victoria Park Road, Brisbane, 4059, Australia Received 6 March 2000; accepted 31 August 2000 Abstract: A constructivist framework was used in conjunction with an interpretive methodology to investigate the effect of an intervention using the metaphor ``learning is constructing'' on students' metacognition and learning processes. The metaphor was used to communicate with students regarding learning processes consistent with constructivism. Students were initially found to be generally non-metacognitive regarding their learning processes. Despite some students possessing metacognitive knowledge consistent with a constructivist learning orientation, their pre-intervention views and preferences in relation to teaching and learning were predominantly consistent with transmission models. The effect of the intervention on students' metacognition was variable. Some students became increasingly metacognitive and reported evidence of revision of their learning processes. Others reported little or no effect. The effects of the intervention can be partially explained by considering changes...
Words: 21834 - Pages: 88
...Learning OpenCV Gary Bradski and Adrian Kaehler Beijing · Cambridge · Farnham · Köln · Sebastopol · Taipei · Tokyo Learning OpenCV by Gary Bradski and Adrian Kaehler Copyright © 2008 Gary Bradski and Adrian Kaehler. All rights reserved. Printed in the United States of America. Published by O’Reilly Media, Inc., 1005 Gravenstein Highway North, Sebastopol, CA 95472. O’Reilly books may be purchased for educational, business, or sales promotional use. Online editions are also available for most titles (safari.oreilly.com). For more information, contact our corporate/institutional sales department: (800) 998-9938 or corporate@oreilly.com. Editor: Mike Loukides Production Editor: Rachel Monaghan Production Services: Newgen Publishing and Data Services Cover Designer: Karen Montgomery Interior Designer: David Futato Illustrator: Robert Romano Printing History: September 2008: First Edition. Nutshell Handbook, the Nutshell Handbook logo, and the O’Reilly logo are registered trademarks of O’Reilly Media, Inc. Learning OpenCV, the image of a giant peacock moth, and related trade dress are trademarks of O’Reilly Media, Inc. Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and O’Reilly Media, Inc. was aware of a trademark claim, the designations have been printed in caps or initial caps. While every precaution has been taken in the preparation of this...
Words: 150684 - Pages: 603
...Linux Advanced Routing & Traffic Control HOWTO Bert Hubert Netherlabs BV Gregory Maxwell Remco van Mook Martijn van Oosterhout Paul B Schroeder Jasper Spaans Revision History Revision 1.1 DocBook Edition 2002−07−22 A very hands−on approach to iproute2, traffic shaping and a bit of netfilter. Linux Advanced Routing & Traffic Control HOWTO Table of Contents Chapter 1. Dedication.........................................................................................................................................1 Chapter 2. Introduction ......................................................................................................................................2 2.1. Disclaimer & License.......................................................................................................................2 2.2. Prior knowledge................................................................................................................................2 2.3. What Linux can do for you...............................................................................................................3 2.4. Housekeeping notes..........................................................................................................................3 2.5. Access, CVS & submitting updates..................................................................................................3 2.6. Mailing list..............................................
Words: 28706 - Pages: 115
...this title: 0-07-141015-5. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute, disseminate, sell, publish or sublicense the work or any part of it without...
Words: 236475 - Pages: 946
