EconPapers    
Economics at your fingertips  
 

A Jackknife Model Averaging Analysis of RMB Misalignment Estimates

Yin-Wong Cheung and Wenhao Wang ()
Additional contact information
Wenhao Wang: City University of Hong Kong

No 116, IEER Working Papers from Institute of Empirical Economic Research, Osnabrueck University

Abstract: We adopt the Jackknife Model Averaging (JMA) technique to conduct a meta-regression analysis of 925 renminbi (RMB) misalignment estimates generated by 69 studies. The JMA method accounts for model selection and sampling uncertainties, and allows for non-nested model specifications and heteroskedasticity in assessing effects of study characteristics. The RMB misalignment estimates are found to be systematically affected by the choices of data, the theoretical setup and the empirical strategy, in addition to publication attributes of these studies. These study characteristic effects are quite robust to the choice of benchmark study characteristics, to alternative model averaging methods including the heteroskedasticity-robust Mallows approach, the information criterion approach, and the Bayesian model averaging. In evaluating the probabilistic property of RMB misalignment estimates implied by hypothetical composites of study characteristics, we find the evidence of a misaligned RMB, in general, is weak.

Keywords: Frequentist Model Average; Meta-Analysis; Mallows Criterion; Bayesian Model Averaging; Publication Biases (search for similar items in EconPapers)
JEL-codes: C83 F31 F41 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2019-09-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
https://web.fb9.uni-osnabrueck.de/repec/iee/wpaper/15675084_WP_116.pdf (application/pdf)

Related works:
Journal Article: A Jackknife Model Averaging Analysis of RMB Misalignment Estimates (2020) Downloads
Working Paper: A Jackknife Model Averaging Analysis of RMB Misalignment Estimates (2019) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iee:wpaper:wp0116

Access Statistics for this paper

More papers in IEER Working Papers from Institute of Empirical Economic Research, Osnabrueck University Rolandstrasse 8, 49069 Osnabrueck. Contact information at EDIRC.
Bibliographic data for series maintained by Karin Wessler-Rensmann ().

 
Page updated 2020-09-22
Handle: RePEc:iee:wpaper:wp0116