[NOeG-l] Einladung | VOSTA Freitagsseminar | Ingmar Prucha

26 Nov 2019

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							EINLADUNG

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Sehr geehrte Damen und Herren,

wir laden Sie herzlich zum VOSTA Freitagsseminar mit Herrn Ingmar Prucha, University of Maryland, mit dem Titel "Dynamic Spatial Panel Models: Networks, Common Shocks, and Sequential Exogeneity" ein.

Termin:
Freitag, 06. Dezember 2019 um 11.00 Uhr

Ort:
Oesterreichische Nationalbank
Veranstaltungssaal, Erdgeschoss
Otto-Wagner-Platz 3
1090 Wien

Abstract:

This paper considers a class of GMM estimators for general dynamic panel models, allowing for weakly exogenous covariates and cross sectional dependence due to spatial lags, unspeciﬁed common shocks and time-varying interactive eﬀects. We signiﬁcantly expand the scope of the existing literature by allowing for endogenous time varying spatial weight matrices without imposing explicit structural assumptions on how the weights are formed. An important area of application is in social interaction and network models where our speciﬁcation can accommodate data dependent network formation. We consider an exemplary social interaction model and show how identiﬁcation of the interaction parameters is achieved through a combination of linear and quadratic moment conditions. For the general setup we develop an orthogonal forward diﬀerencing transformation to aid in the estimation of factor components while maintaining orthogonality of moment conditions. This is an important ingredient to a tractable asymptotic distribution of our estimators. In general, the asymptotic distribution of our estimators is found to be mixed normal due to random norming. However, the asymptotic distribution of our test statistics is still chi-square.

Um Ihre verlässliche An- bzw. Abmeldung ersuchen wir bis
Dienstag, 03. Dezember 2019, unter event-management@oenb.at

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Oesterreichische Nationalbank
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[NOeG-l] Einladung | VOSTA Freitagsseminar | Ingmar Prucha

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