The Resource Inference on counterfactual distributions, [by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly

Inference on counterfactual distributions, [by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly

Label
Inference on counterfactual distributions
Title
Inference on counterfactual distributions
Statement of responsibility
[by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly
Creator
Contributor
Subject
Language
eng
Summary
In this paper we develop procedures for performing inference in regression models about how potential policy interventions affect the entire marginal distribution of an outcome of interest. These policy interventions consist of either changes in the distribution of covariates related to the outcome holding the conditional distribution of the outcome given covariates fixed, or changes in the conditional distribution of the outcome given covariates holding the marginal distribution of the covariates fixed. Under either of these assumptions, we obtain uniformly consistent estimates and functional central limit theorems for the counterfactual and status quo marginal distributions of the outcome as well as other function-valued effects of the policy, including, for example, the effects of the policy on the marginal distribution function, quantile function, and other related functionals. We construct simultaneous confidence sets for these functions; these sets take into account the sampling variation in the estimation of the relationship between the outcome and covariates. Our procedures rely on, and our theory covers, all main regression approaches for modeling and estimating conditional distributions, focusing especially on classical, quantile, duration, and distribution regressions. Our procedures are general and accommodate both simple unitary changes in the values of a given covariate as well as changes in the distribution of the covariates or the conditional distribution of the outcome given covariates of general form. We apply the procedures to examine the effects of labor market institutions on the U.S. wage distribution. Keywords: Policy effects, counterfactual distribution, quantile regression, duration regression, distribution regression. JEL Classifications: C14, C21, C41, J31, J71
Member of
Additional physical form
Abstract in HTML and working paper for download in PDF available via World Wide Web at the Social Science Research Network.
Cataloging source
MYG
http://library.link/vocab/creatorName
Chernozhukov, Victor
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
  • technical reports
http://library.link/vocab/relatedWorkOrContributorName
  • Fernndez-Val, Ivn
  • Melly, Blaise
  • Massachusetts Institute of Technology
Series statement
Working paper series / Massachusetts Institute of Technology, Dept. of Economics
Series volume
working paper 08-16 [2009 revision]
http://library.link/vocab/subjectName
  • Regression analysis
  • Inference
  • Counterfactuals (Logic)
Label
Inference on counterfactual distributions, [by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly
Link
Instantiates
Publication
Note
"August 8, 2008. Revised: April 4, 2009."
Bibliography note
Includes bibliographical references (p. 53-56)
Edition
Rev.
Extent
1 online resource (69 pages
Form of item
online
Other physical details
illustrations)
Specific material designation
remote
Label
Inference on counterfactual distributions, [by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly
Link
Publication
Note
"August 8, 2008. Revised: April 4, 2009."
Bibliography note
Includes bibliographical references (p. 53-56)
Edition
Rev.
Extent
1 online resource (69 pages
Form of item
online
Other physical details
illustrations)
Specific material designation
remote

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