The hottest Econometrics Substack posts right now

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Workshop announcement: demand estimation

Scott's Substack • 904 implied HN points • 10 Jan 24
🚌 Education Workshops Econometrics Learning
  1. Upcoming workshop in late February and early March on demand estimation by Ariel Pakes and Jeff Gortmaker.
  2. The workshop will cover demand estimation methods in applied microeconomics and bridge between reduced-form and structural frameworks.
  3. Attendees will get hands-on experience with practical exercises and training using a python package for estimating demand.

Mixtape Mailbag #8: Continuous Triple Differences

Scott's Substack • 39 implied HN points • 05 Feb 24
🔬 Science Causal Inference Data Analysis Research Methods Econometrics
  1. Triple difference design can be used with continuous treatment by defining the parameters based on dosage levels.
  2. When treatment is continuous, the target parameter shifts from average treatment effect to average causal response function.
  3. Continuous treatments require careful definition of parameters to compare different dosages along a treatment curve.

Prisoners of our genes or masters of our destiny?

Klement on Investing • 2 implied HN points • 16 Feb 24
🔬 Science Psychology Genetics Econometrics Environment Behavior
  1. Our risk and time preferences are influenced by a mix of genetics and environment, with the unique environment playing a significant role.
  2. Despite genetic influences, the most crucial factor driving our preferences and decisions is our unique life experiences and choices.
  3. We have the power to shape our destiny regardless of genetic predispositions or shared environments. What we make of our lives is ultimately up to us.

Democracy of evidence

Hypertext • 0 implied HN points • 27 Mar 24
🚌 Education Policy Analysis Econometrics Social Sciences Public Policy
  1. Econometrics helps to reveal truths in small-scale matters, but applying them to large societal issues requires many assumptions. Democratizing knowledge generation can be a social game-changer by putting economic tools in the hands of more people.
  2. Academics often focus on big questions about human nature, but the implementation of policies by governmental and social organizations could benefit from more hands-on and practical application of econometric tools to measure the impact of these policies.
  3. Government and social institutions should embrace a more incremental approach, like carpenters, making gradual improvements as opposed to sweeping changes. There's potential for significant social change when institutions start questioning and measuring the effectiveness of their own operations.
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Alternatives to the CAPM: Part 5. Risk Adjusting the cash flows

Musings on Markets • 0 implied HN points • 30 Apr 11
💰 Finance Investment Valuation Risk management Econometrics Investing Risk management Valuation Financial Theory Capital Markets
  1. You can adjust cash flows for risk in two main ways: estimating expected cash flows across scenarios and using certainty equivalent cash flows. Both methods aim to accurately reflect investment risk.
  2. Certainty equivalent cash flows account for risk by using a safer value an investor would accept instead of the expected cash flow. This helps to quantify how risk-averse someone is when valuing their investment.
  3. Risk adjusting cash flows isn't necessarily easier than adjusting discount rates. It's important to know when to apply simple methods, like focusing on safe cash flows or dividends, but also to recognize their limitations.