Shawn Ni
Biographic Data
| ID | 5741773 |
|---|---|
| NAME | Shawn Ni |
| GIVEN NAMES | Shawn |
| FAMILY NAME | Ni |
| SIGNATURE | NI S |
| AFFILIATIONS | University of Missouri |
| VERIFIED | No |
| TOTAL WORKS | 7 |
| TOTAL CITATIONS | 12 |
| WORKS AS AUTHOR | 7 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1997 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 3 |
A Structural Econometric Approach to Analyzing the Impact of Teacher Pension Reform
The growing fiscal cost of K–12 teacher pension plans and pension-induced labor market distortions have led to calls for teacher pension reforms. Dynamic structural econometric models are a useful way to analyze the fiscal and staffing consequences of current and alternative retirement plans. This article lays out the benefits of the structural econometric modeling approach for analyzing changes to teacher pension plans and estimates such a model…
Benefit or Burden? On the Intergenerational Inequity of Teacher Pension Plans
Most public school teachers in the United States are enrolled in defined benefit (DB) pension plans. Using administrative microdata from four states, combined with national pension funding data, we show these plans have accumulated substantial unfunded liabilities—effectively debt—owing to previous plan operations. On average across 49 state plans, an amount that exceeds 10% of current teachers’ earnings is being set aside to pay for previously a…
Selection of Multivariate Stochastic Volatility Models via Bayesian Stochastic Search
We propose a Bayesian stochastic search approach to selecting restrictions on multivariate regression models where the errors exhibit deterministic or stochastic conditional volatilities. We develop a Markov Chain Monte Carlo (MCMC) algorithm that generates posterior restrictions on the regression coefficients and Cholesky decompositions of the covariance matrix of the errors. Numerical simulations with artificially generated data show that the p…
Intrinsic Bayesian Estimation of Vector Autoregression Impulse Responses
We propose an information-theoretic alternative to the conventional Bayesian posterior mean estimator of impulse responses in vector autoregression (VAR) models. The proposed estimator is based on the intrinsic entropy loss function, which is invariant to nonlinear transformations of parameters. Consequently, intrinsic estimation of impulse responses is equivalent to that of VAR parameters. The Bayesian estimator under the entropy loss involves a…
Bayesian Estimates for Vector Autoregressive Models
This article examines frequentist risks of Bayesian estimates of vector autoregressive (VAR) regression coefficient and error covariance matrices under competing loss functions, under various noninformative priors, and in the normal and Student-t models. Simulation results show that for the regression coefficient matrix, an asymmetric LINEX estimator does better overall than the posterior mean. No dominating estimator emerges for the error covari…
High corruption income in Ming and Qing China
Scaling Factors in Estimation of Time-Nonseparable Utility Functions
In GMM estimations, when data exhibit exponential trends, scaling factors are often used to restore stationarity in Euler equation residuals. The present paper demonstrates that finite-sample estimates are sensitive to the scaling factors, and seemingly plausible scaling factors may produce spurious estimates. It suggests that scaling factors be chosen so that the scaled marginal utility is roughly constant. The discussion is conducted through es…
High corruption income in Ming and Qing China
Benefit or Burden? On the Intergenerational Inequity of Teacher Pension Plans
Most public school teachers in the United States are enrolled in defined benefit (DB) pension plans. Using administrative microdata from four states, combined with national pension funding data, we show these plans have accumulated substantial unfunded liabilities—effectively debt—owing to previous plan operations. On average across 49 state plans, an amount that exceeds 10% of current teachers’ earnings is being set aside to pay for previously a…
A Structural Econometric Approach to Analyzing the Impact of Teacher Pension Reform
The growing fiscal cost of K–12 teacher pension plans and pension-induced labor market distortions have led to calls for teacher pension reforms. Dynamic structural econometric models are a useful way to analyze the fiscal and staffing consequences of current and alternative retirement plans. This article lays out the benefits of the structural econometric modeling approach for analyzing changes to teacher pension plans and estimates such a model…
Scaling Factors in Estimation of Time-Nonseparable Utility Functions
In GMM estimations, when data exhibit exponential trends, scaling factors are often used to restore stationarity in Euler equation residuals. The present paper demonstrates that finite-sample estimates are sensitive to the scaling factors, and seemingly plausible scaling factors may produce spurious estimates. It suggests that scaling factors be chosen so that the scaled marginal utility is roughly constant. The discussion is conducted through es…
Bayesian Estimates for Vector Autoregressive Models
This article examines frequentist risks of Bayesian estimates of vector autoregressive (VAR) regression coefficient and error covariance matrices under competing loss functions, under various noninformative priors, and in the normal and Student-t models. Simulation results show that for the regression coefficient matrix, an asymmetric LINEX estimator does better overall than the posterior mean. No dominating estimator emerges for the error covari…
High corruption income in Ming and Qing China
Intrinsic Bayesian Estimation of Vector Autoregression Impulse Responses
We propose an information-theoretic alternative to the conventional Bayesian posterior mean estimator of impulse responses in vector autoregression (VAR) models. The proposed estimator is based on the intrinsic entropy loss function, which is invariant to nonlinear transformations of parameters. Consequently, intrinsic estimation of impulse responses is equivalent to that of VAR parameters. The Bayesian estimator under the entropy loss involves a…
Selection of Multivariate Stochastic Volatility Models via Bayesian Stochastic Search
We propose a Bayesian stochastic search approach to selecting restrictions on multivariate regression models where the errors exhibit deterministic or stochastic conditional volatilities. We develop a Markov Chain Monte Carlo (MCMC) algorithm that generates posterior restrictions on the regression coefficients and Cholesky decompositions of the covariance matrix of the errors. Numerical simulations with artificially generated data show that the p…
Benefit or Burden? On the Intergenerational Inequity of Teacher Pension Plans
Most public school teachers in the United States are enrolled in defined benefit (DB) pension plans. Using administrative microdata from four states, combined with national pension funding data, we show these plans have accumulated substantial unfunded liabilities—effectively debt—owing to previous plan operations. On average across 49 state plans, an amount that exceeds 10% of current teachers’ earnings is being set aside to pay for previously a…
A Structural Econometric Approach to Analyzing the Impact of Teacher Pension Reform
The growing fiscal cost of K–12 teacher pension plans and pension-induced labor market distortions have led to calls for teacher pension reforms. Dynamic structural econometric models are a useful way to analyze the fiscal and staffing consequences of current and alternative retirement plans. This article lays out the benefits of the structural econometric modeling approach for analyzing changes to teacher pension plans and estimates such a model…
Econometrics (5 works) · Economics (4 works) · Mathematics (4 works) · Monetary Policy and Economic Impact (4 works) · Bayesian inference (3 works) · Bayesian probability (3 works) · Statistics (3 works) · Actuarial science (2 works) · Applied Mathematics (2 works) · Autoregressive model (2 works)