Essays in Econometrics

Boczon, Marta (2021) Essays in Econometrics. Doctoral Dissertation, University of Pittsburgh. (Unpublished)

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Abstract

This dissertation consists of three chapters and is inspired by current economic issues affecting the majority (if not all) of economic agents, such as recession tracking, matching algorithms and, economic inequality.

In the first chapter, I measure the uncertainty affecting estimates of economic inequality in the US and investigate how accounting for properly estimated standard errors can affect the results of empirical and structural macroeconomic studies. While focusing on income and wealth shares within the top 10 percent, my results suggest that ignoring uncertainties in estimated shares can lead to statistically imprecise conclusions about the past and current levels of top income and wealth inequality, and therefore, lead to inaccurate predictions and potentially ineffective policy recommendations.

In the second chapter, Professor Jean-Francois Richard and I propose a hybrid version of Dynamic Stochastic General Equilibrium models with emphasis on parameter invariance and tracking performance at times of rapid changes (recessions). Our methodology is illustrated by an application to a pilot Real Business Cycle model for the US economy from 1948 to 2019, where we highlight the model’s parameters invariance, tracking, and 1- to 3-step ahead forecasting performance, outperforming those of an unconstrained benchmark Vector AutoRegressive model.

In the third and final chapter, Professor Alistair J. Wilson and I analyze an existing matching procedure designed to solve a complex constrained assignment problem for one of the most successful pan-European ventures: the UEFA Champions League. Relying upon a combination of theory, structural estimation, and simulation, we outline a quantitative methodology aimed at assessing a highly transparent (but combinatorically complex) tournament’s assignment procedure and provide evidence that the UEFA assignment rule is effectively a "constrained-best" in terms of pairwise independence.

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Details

Item Type:	University of Pittsburgh ETD
Status:	Unpublished
Creators/Authors:	Creators Email Pitt Username ORCID Boczon, Marta marta.boczon@gmail.com mjb249
ETD Committee:	Title Member Email Address Pitt Username ORCID Committee Chair Richard, Jean-Francois fantin@pitt.edu fantin Committee Member Wilson, Alistair alistair@pitt.edu alistair Committee Member Beresteanu, Arie arie@pitt.edu arie Committee Member Liesenfeld, Roman liesenfeld@statistik.uni-koeln.de N/A
Date:	3 May 2021
Date Type:	Publication
Defense Date:	2 April 2021
Approval Date:	3 May 2021
Submission Date:	5 April 2021
Access Restriction:	No restriction; Release the ETD for access worldwide immediately.
Number of Pages:	147
Institution:	University of Pittsburgh
Schools and Programs:	Dietrich School of Arts and Sciences > Economics
Degree:	PhD - Doctor of Philosophy
Thesis Type:	Doctoral Dissertation
Refereed:	Yes
Uncontrolled Keywords:	SCF, ECM, UEFA, UCL, draw procedure, income and wealth inequality, tracking and forecasting, DSGE
Date Deposited:	03 May 2021 14:56
Last Modified:	03 May 2021 14:56
URI:	http://d-scholarship.pitt.edu/id/eprint/40515

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