Agenda

19 Gen 2024 12:15

Christiane Baumeister - A Full-Information Approach to Granular Instrumental Variables

Meeting Room 1, San Giobbe Economics Campus

Christiane Baumeister (Notre Dame University)

Abstract:
Modeling how individual units interact to determine aggregate outcomes can be a rich source of identifying information. We use this insight to develop a generalization of granular instrumental variables estimation and show how parameters of a dynamic structural model can be estimated using full-information maximum likelihood. We apply the method to a study of the world oil market. We conclude that the supply responses of Saudi Arabia and adjustments of inventories have historically played a key role in stabilizing the price of oil.

Lingua

L'evento si terrà in Inglese

Organizzatore

Dipartimento di Economia (EcSeminars)

Allegati

Paper 484 KB

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