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Tests of Hypotheses Arising in the Correlated Random Coefficient Model

James Heckman and Daniel Schmierer ()
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Daniel Schmierer: University of Chicago

No 5205, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper examines the correlated random coefficient model. It extends the analysis of Swamy (1971, 1974), who pioneered the uncorrelated random coefficient model in economics. We develop the properties of the correlated random coefficient model and derive a new representation of the variance of the instrumental variable estimator for that model. We develop tests of the validity of the correlated random coefficient model against the null hypothesis of the uncorrelated random coefficient model.

Keywords: correlated random coefficient models; instrumental variables (search for similar items in EconPapers)
JEL-codes: C31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm
Date: 2010-09
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Published in: Economic Modelling, 2010, 27 (6), Special Issue: P.A.V.B Swamy, 1355-1367

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Related works:
Journal Article: Tests of hypotheses arising in the correlated random coefficient model (2010) Downloads
Working Paper: Tests of Hypotheses Arising in the Correlated Random Coefficient Model (2010) Downloads
Working Paper: Tests of Hypotheses Arising In the Correlated Random Coefficient Model (2010) Downloads
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