Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods

By Raj Chetty. 2008

692 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Gender Studies

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Citations in the corpus

The First-Order Approach to Merger Analysis (2013, neutral): “In practice, these assumptions typically go further than tying down higher-order effects and actually restrict quantities, such as pass-through rates and elasticities (Crooke et al., 1999; Weyl and Fabinger, 2009).(29) Thus MS is accurate in cases when the local information available prior to the me”
Building Bridges Between Structural and Program Evaluation Approaches to Evaluating Policy (2010, neutral): “Chetty, Raj.”
Toward obtaining a consistent estimate of the elasticity of taxable income using difference-in-differences (2014, methodology): “As highlighted by Chetty (2011), the bounds on the structural parameter relevant for welfare analysis are tighter when marginal tax rate changes are high, because it induces more individuals to overcome their adjustment costs. But, these very same reforms (TRA86 is a prime example) induce a lot of i”
The Effects of Unemployment Insurance Benefits: New Evidence and Interpretation (2016, background): “For a more detailed discussion of this approach see Shimer and Werning (2007) as well as Chetty (2009) who compares the different approaches to estimate the marginal utility gap.”
Regulating Capital Flows to Emerging Markets: An Externality View (2018, methodology): “Our calibration method is in the spirit of the sufficient statistics approach of Chetty (2009): we show that the externality kernel of a country that is prone to amplification effects can be expressed as the product of two sufficient statistics that impose only minimal requirements on data availabil”
Comparing and combining process-based crop models and statistical models with some implications for climate change (2017, background): “In recent years,more scholars have begun to see the value inbothapproaches(Chetty2009,TimminsandSchlenker 2009, Heckman 2010).”
Do 'Capitalization Effects' for Public Goods Reveal the Public's Willingness to Pay? (2014, neutral): “As Chetty (2009), Heckman (2010), and Keane (2010) all observe, a structural model is usually needed to provide an economic interpretation of a treatment effect.”
Social Insurance: Connecting Theory to Data (2012, background): “The multiplicity of formulas for MW (b) is a general property of the su¢ cient-statistic approach (Chetty 2009).”
House Prices and Consumer Spending (2015, background): “In particular, if household i decides to trade housing at time t, it pays a cost proportional to the value of the house sold κit = F · PtHit−11Hit 6=Hit−1 , where 1 is an indicator function equal to 1 iff Hit 6= Hit−1 and where we set F = 0.05.”
The New Economics of Prudential Capital Controls: A Research Agenda (2011, background): “Sufficient statistics approaches show that optimal policy measures can often be expressed as a simple function of a small set of statistics that can be directly obtained from the data (see Chetty, 2009, for a general exposition).”