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- Title
Panel parametric, semiparametric, and nonparametric construction of counterfactuals.
- Authors
Hsiao, Cheng; Zhou, Qiankun
- Abstract
Summary: We consider panel parametric, semiparametric and nonparametric methods of constructing counterfactuals. We show through extensive simulations that no method is able to dominate other methods in all circumstances, since the true data‐generating process is typically unknown. We therefore also suggest a model‐averaging method as a robust method to generate counterfactuals. As an illustration of the sensitivity of counterfactual construction, we reexamine the impact of California's Tobacco Control Program on per capita cigarette consumption and election day registration (EDR) laws on voters' turnout by different methods.
- Subjects
COUNTERFACTUALS (Logic); AVERAGING method (Differential equations); VOTER turnout; PREVENTION of tobacco use; CIGARETTES
- Publication
Journal of Applied Econometrics, 2019, Vol 34, Issue 4, p463
- ISSN
0883-7252
- Publication type
Article
- DOI
10.1002/jae.2702