GMM Estimation of empirical growth models
| dc.contributor.author | Hoeffler, Anke | |
| dc.contributor.author | Bond, Stephen Roy | |
| dc.contributor.author | Temple, Jonathan R.W. | |
| dc.date.accessioned | 2019-07-04T09:03:56Z | |
| dc.date.available | 2019-07-04T09:03:56Z | |
| dc.date.issued | 2001 | eng |
| dc.description.abstract | This Paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments for subsequent first-differences. Revisiting the work of Caselli, Esquivel and Lefort (1996), we show that this problem may be serious in practice. We suggest using a more efficient GMM estimator that exploits stationarity restrictions and this approach is shown to give more reasonable results than first-differenced GMM in our estimation of an empirical growth model. | eng |
| dc.description.version | published | de |
| dc.identifier.uri | https://kops.uni-konstanz.de/handle/123456789/46212 | |
| dc.language.iso | eng | eng |
| dc.subject | convergence, generalized method of moments, growth, weak instruments | eng |
| dc.subject.ddc | 320 | eng |
| dc.title | GMM Estimation of empirical growth models | eng |
| dc.type | JOURNAL_ARTICLE | de |
| dspace.entity.type | Publication | |
| kops.citation.bibtex | @article{Hoeffler2001Estim-46212,
year={2001},
title={GMM Estimation of empirical growth models},
issn={0265-8003},
journal={CEPR Discussion Papers / Centre for Economic Policy Research Discussion Papers},
author={Hoeffler, Anke and Bond, Stephen Roy and Temple, Jonathan R.W.},
note={Article Number: 3048}
} | |
| kops.citation.iso690 | HOEFFLER, Anke, Stephen Roy BOND, Jonathan R.W. TEMPLE, 2001. GMM Estimation of empirical growth models. In: CEPR Discussion Papers / Centre for Economic Policy Research Discussion Papers, 3048. ISSN 0265-8003 | deu |
| kops.citation.iso690 | HOEFFLER, Anke, Stephen Roy BOND, Jonathan R.W. TEMPLE, 2001. GMM Estimation of empirical growth models. In: CEPR Discussion Papers / Centre for Economic Policy Research Discussion Papers, 3048. ISSN 0265-8003 | eng |
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| kops.flag.isPeerReviewed | unknown | eng |
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| kops.sourcefield | CEPR Discussion Papers / Centre for Economic Policy Research Discussion Papers, 3048. ISSN 0265-8003 | deu |
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