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
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The item Inference on counterfactual distributions, [by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Internet Archive - Open Library.
This item is available to borrow from all library branches.
- 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
- Language
- eng
- Edition
- Rev.
- Extent
- 1 online resource (69 pages
- Note
- "August 8, 2008. Revised: April 4, 2009."
- Label
- Inference on counterfactual distributions
- Title
- Inference on counterfactual distributions
- Statement of responsibility
- [by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly
- 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
- 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
- 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
- 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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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.archive.org/portal/Inference-on-counterfactual-distributions-by/6mcAUOk53rc/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.archive.org/portal/Inference-on-counterfactual-distributions-by/6mcAUOk53rc/">Inference on counterfactual distributions, [by] Victor Chernozhukov, Ivan Fernandez-Val [and] Blaise Melly</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.archive.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.archive.org/">Internet Archive - Open Library</a></span></span></span></span></div>
