Posts Tagged ‘ Econ ’

What value is cross country GDP correlation? [Part One]

May 6, 2011
By
What value is cross country GDP correlation? [Part One]

The above graph borders on chartjunk (and is nothing like Paul Butler’s amazing Facebook map). We can see some variation in color but mostly it is a set of lines between 152 country capitals with no means to determine which … Continue reading →

Read more »

Measuring Price Dispersion of Marijuana

April 12, 2011
By
Measuring Price Dispersion of Marijuana

The intersection of mapping APIs, fast database operations and user engagement offers a lot of very cool crowdsourcing applications ranging from the benign and powerful (Google’s Person Finder) to the minor and questionable (A DUI checkpoints app). Most intriguing in … Continue reading →

Read more »

A Simple Instrumental Variables Problem

March 29, 2011
By
A Simple Instrumental Variables Problem

When working with labor economics, we often run into issues with selection on variables of interest. Regressing earnings on years of education to estimate the human capital earnings function makes sense at first blush until we imagine that education is … Continue reading →

Read more »

A Short Return to the Age-Earnings Profile

March 8, 2011
By
A Short Return to the Age-Earnings Profile

Two posts ago I mentioned the age-earnings profile but did not provide a regression of log earnings on wage. I also offered, without evidence, that fitting a simple linear regression would be inappropriate. How do I know that? How could … Continue reading →

Read more »

Our Friend the Age-Earnings Profile

March 7, 2011
By
Our Friend the Age-Earnings Profile

I like Labor Economics. Partially because it has a nice mix of theory and practical empiricism, but mostly because it seems to be a sub-field with a number of agreed upon stylized facts that grow not out of micro theory … Continue reading →

Read more »

Bootstrapping the Truncated Normal Distribution

March 2, 2011
By
Bootstrapping the Truncated Normal Distribution

Here’s a post generated from my own ignorance of statistics (as opposed to just being marred by it)! In Labor Economics we walked through something called the truncated normal distribution. Truncated distributions come up a lot in the sciences because … Continue reading →

Read more »

Stationarity

February 9, 2011
By
Stationarity

In time series work you often run into difficulties in modeling processes where the overall level of one variable (an input, for example) changes over time but the levels of another variable (an output) do not change. For instance if … Continue reading →

Read more »

Null Confusion

January 25, 2011
By
Null Confusion

Talking a bit with my friend Jarrod about math stats and econometrics, we both came to the conclusion that the standard presentation for basic inference is lacking. In an intro or intermediate applied statistics course you learn about first and … Continue reading →

Read more »