OeNB-Freitagsseminar with Christiane Baumeister

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A Full-Information Approach to Granular Instrumental Variables

OeNB Freitagsseminar with Christiane Baumeister, University of Notre Dame
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.

Friday, April 5, 2024 | Start: 11.00 a.m. | End: 12.30 p.m.

The event is planned both, online via Webex and onsite at the Oesterreichische Nationalbank, Meeting room M3080, 3rd floor, Otto-Wagner-Platz 3, 1090 Vienna

Please register by April 3, 2024, at the latest.

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