Cheng Hsiao
Dados Biográficos
| ID | 3709839 |
|---|---|
| NOME | Cheng Hsiao |
| PRENOMES | Cheng |
| SOBRENOME | Hsiao |
| ASSINATURA | HSIAO C |
| AFILIAÇÕES | University of Southern California |
| ORCID | 0009-0000-6436-0310 |
| VERIFICADO | Sim |
| TOTAL DE OBRAS | 19 |
| TOTAL DE CITAÇÕES | 12 |
| TOTAL COMO AUTOR | 19 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 1981 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 2 |
A selective review of panel approaches to construct counterfactuals
We argue that the fundamental issue of measuring treatment effects is to obtain good predictions of missing outcomes. However, there is no realized value to evaluate the quality of the predicted value generated by a particular method. The choice of prediction method has to rely on the compatibility of the observed data with the underlying assumptions of an approach and the predictive ability of the approach. In this paper, we selectively review s…
Panel treatment effects measurement
We discuss methods of measuring the treatment effects of a unit through the use of other units in panel data by either the factor‐based (FB) approach or the linear projection (LP) approach under different sample configurations of cross‐sectional dimension and time series dimension . We show that the LP approach in general yields smaller mean square prediction error than the FB approach when either both and are large or fixed and or fixed and larg…
Assessing the impacts of pandemic and the increase in minimum down payment rate on Shanghai housing prices
Featured Cover
The cover image is based on the Research Article Economic impact of the most drastic lockdown during COVID-19 pandemic—The experience of Hubei, China by Xiao Ke and Cheng Hsiao https://doi.org/10.1002/jae.2871
Economic impact of the most drastic lockdown during Covid‐19 pandemic—The experience of Hubei, China
This paper uses a panel data approach to assess the evolution of economic consequences of the drastic lockdown policy in the epicenter of COVID‐19—the Hubei Province of China during worldwide curbs on economic activity. We find that the drastic 76‐day COVID‐19 lockdown policy brought huge negative impacts on Hubei's economy. In 2020:q1, the lockdown quarter, the treatment effect on GDP was about 37% of the counterfactual. However, the drastic loc…
Transformed Estimation for Panel Interactive Effects Models
We propose a transformed estimator for the slope coefficients of panel models with interactive effects. The transformed estimation method does not require the prior knowledge of the dimension of factor structure. It is consistent and asymptotically normally distributed under fairly general conditions when N is fixed and T→∞ or T is fixed and N→∞, or when both N and T are large and NT→a≠0<∞. Moreover, because the transformation is equivalent to ag…
Can a time-varying structure provide a more robust panel construction of counterfactuals-straitjacket or straitjackets
Analysis of Panel Data
This book provides a comprehensive, coherent, and intuitive review of panel data methodologies that are useful for empirical analysis. Substantially revised from the second edition, it includes two new chapters on modeling cross-sectionally dependent data and dynamic systems of equations. Some of the more complicated concepts have been further streamlined. Other new material includes correlated random coefficient models, pseudo-panels, duration a…
Crises, What Crises? New Evidence on the Relative Roles of Political and Economic Crises in Begetting Reforms
Crises beget reforms is a powerful hypothesis. But which type of crises - economic or political - are the main drivers of structural reforms? To answer this question, we construct measures of labour market and trade liberalisation and the two types of crises for a panel of about 100 developed and developing countries between 1960 and 2000. We find that political crises are more important determinants of structural reforms than economic crises. Th…
Decriminalization and Marijuana Smoking Prevalence
This article uses the 2001 National Drug Strategy Household Survey to assess the impact of marijuana decriminalization policy on marijuana smoking prevalence in Australia. Both parametric and nonparametric methods are used. The parametric approach includes endogenous probit switching, two-part, sample selection, and standard dummy variable models, while the nonparametric approach uses propensity score stratification matching. Specification analys…
Panel data analysis—advantages and challenges
Analysis of Panel Data
Panel data models have become increasingly popular among applied researchers due to their heightened capacity for capturing the complexity of human behavior as compared to cross-sectional or time series data models. As a consequence, richer panel data sets also have become increasingly available. This 2003 second edition is a substantial revision of the highly successful first edition of 1986. Advances in panel data research are presented in a ri…
Analysis of Panel Data
Now in its fourth edition, this comprehensive introduction of fundamental panel data methodologies provides insights on what is most essential in panel literature. A capstone to the forty-year career of a pioneer of panel data analysis, this new edition's primary contribution will be the coverage of advancements in panel data analysis, a statistical method widely used to analyze two or higher-dimensional panel data. The topics discussed in early …
Foreign Direct Investment and Economic Growth
We use a panel data of 23 developing countries from 1976 through 1997 to analyze factors determining foreign direct investment. We also provide a statistical analysis of the relationship between economic growth and the inflow of FDI. In Section II we use time-series data to analyze the statistical relationship between the real gross domestic product (GDP) and real FDI for China and 23 developing countries. In Section III we use panel data of 23 d…
A Bayesian Integration of End-Use Metering and Conditional-Demand Analysis
Traditional methods of estimating kilowatt end uses load profiles may face very serious multicollinearity issues. In this article, a Bayesian framework is proposed to combine end uses monitoring information with the aggregate-load/appliance data to allow load researchers to derive more accurate load shapes. Two variants are suggested: The first one uses the raw end-use metered data to construct the prior means and variances. The second method use…
Analysis of Panel Data
Journal Article Analysis of Panel Data Get access Analysis of Panel Data. By Cheng Hsiao. (Cambridge: Cambridge University Press, 1986. Pp. x + 246. à à à à £27.50 hardback.) James Davidson James Davidson London School of Economics and Political Science Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 97, Issue 388, 1 December 1987, Pages 1006–1007, https://doi.org/10.2307/2233095 Published: 01…
Multinomial Logit Specification Tests
Formulation and estimation of dynamic models using panel data
Estimation of Dynamic Models with Error Components
Observations on N cross-section units at T time points are used to estimate a simple statistical model involving an autoregressive process with an additive term specific to the unit. Different assumptions about the initial conditions are (a) initial state fixed, (b) initial state random, (c) the unobserved individual effect independent of the unobserved dynamic process with the initial value fixed, and (d) the unobserved individual effect indepen…
Analysis of Panel Data
Journal Article Analysis of Panel Data Get access Analysis of Panel Data. By Cheng Hsiao. (Cambridge: Cambridge University Press, 1986. Pp. x + 246. à à à à £27.50 hardback.) James Davidson James Davidson London School of Economics and Political Science Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 97, Issue 388, 1 December 1987, Pages 1006–1007, https://doi.org/10.2307/2233095 Published: 01…
Foreign Direct Investment and Economic Growth
We use a panel data of 23 developing countries from 1976 through 1997 to analyze factors determining foreign direct investment. We also provide a statistical analysis of the relationship between economic growth and the inflow of FDI. In Section II we use time-series data to analyze the statistical relationship between the real gross domestic product (GDP) and real FDI for China and 23 developing countries. In Section III we use panel data of 23 d…
Estimation of Dynamic Models with Error Components
Observations on N cross-section units at T time points are used to estimate a simple statistical model involving an autoregressive process with an additive term specific to the unit. Different assumptions about the initial conditions are (a) initial state fixed, (b) initial state random, (c) the unobserved individual effect independent of the unobserved dynamic process with the initial value fixed, and (d) the unobserved individual effect indepen…
Formulation and estimation of dynamic models using panel data
Multinomial Logit Specification Tests
Analysis of Panel Data
Journal Article Analysis of Panel Data Get access Analysis of Panel Data. By Cheng Hsiao. (Cambridge: Cambridge University Press, 1986. Pp. x + 246. à à à à £27.50 hardback.) James Davidson James Davidson London School of Economics and Political Science Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 97, Issue 388, 1 December 1987, Pages 1006–1007, https://doi.org/10.2307/2233095 Published: 01…
A Bayesian Integration of End-Use Metering and Conditional-Demand Analysis
Traditional methods of estimating kilowatt end uses load profiles may face very serious multicollinearity issues. In this article, a Bayesian framework is proposed to combine end uses monitoring information with the aggregate-load/appliance data to allow load researchers to derive more accurate load shapes. Two variants are suggested: The first one uses the raw end-use metered data to construct the prior means and variances. The second method use…
Analysis of Panel Data
Panel data models have become increasingly popular among applied researchers due to their heightened capacity for capturing the complexity of human behavior as compared to cross-sectional or time series data models. As a consequence, richer panel data sets also have become increasingly available. This 2003 second edition is a substantial revision of the highly successful first edition of 1986. Advances in panel data research are presented in a ri…
Analysis of Panel Data
Now in its fourth edition, this comprehensive introduction of fundamental panel data methodologies provides insights on what is most essential in panel literature. A capstone to the forty-year career of a pioneer of panel data analysis, this new edition's primary contribution will be the coverage of advancements in panel data analysis, a statistical method widely used to analyze two or higher-dimensional panel data. The topics discussed in early …
Foreign Direct Investment and Economic Growth
We use a panel data of 23 developing countries from 1976 through 1997 to analyze factors determining foreign direct investment. We also provide a statistical analysis of the relationship between economic growth and the inflow of FDI. In Section II we use time-series data to analyze the statistical relationship between the real gross domestic product (GDP) and real FDI for China and 23 developing countries. In Section III we use panel data of 23 d…
Panel data analysis—advantages and challenges
Crises, What Crises? New Evidence on the Relative Roles of Political and Economic Crises in Begetting Reforms
Crises beget reforms is a powerful hypothesis. But which type of crises - economic or political - are the main drivers of structural reforms? To answer this question, we construct measures of labour market and trade liberalisation and the two types of crises for a panel of about 100 developed and developing countries between 1960 and 2000. We find that political crises are more important determinants of structural reforms than economic crises. Th…
Decriminalization and Marijuana Smoking Prevalence
This article uses the 2001 National Drug Strategy Household Survey to assess the impact of marijuana decriminalization policy on marijuana smoking prevalence in Australia. Both parametric and nonparametric methods are used. The parametric approach includes endogenous probit switching, two-part, sample selection, and standard dummy variable models, while the nonparametric approach uses propensity score stratification matching. Specification analys…
Analysis of Panel Data
This book provides a comprehensive, coherent, and intuitive review of panel data methodologies that are useful for empirical analysis. Substantially revised from the second edition, it includes two new chapters on modeling cross-sectionally dependent data and dynamic systems of equations. Some of the more complicated concepts have been further streamlined. Other new material includes correlated random coefficient models, pseudo-panels, duration a…
Can a time-varying structure provide a more robust panel construction of counterfactuals-straitjacket or straitjackets
Featured Cover
The cover image is based on the Research Article Economic impact of the most drastic lockdown during COVID-19 pandemic—The experience of Hubei, China by Xiao Ke and Cheng Hsiao https://doi.org/10.1002/jae.2871
Economic impact of the most drastic lockdown during Covid‐19 pandemic—The experience of Hubei, China
This paper uses a panel data approach to assess the evolution of economic consequences of the drastic lockdown policy in the epicenter of COVID‐19—the Hubei Province of China during worldwide curbs on economic activity. We find that the drastic 76‐day COVID‐19 lockdown policy brought huge negative impacts on Hubei's economy. In 2020:q1, the lockdown quarter, the treatment effect on GDP was about 37% of the counterfactual. However, the drastic loc…
Transformed Estimation for Panel Interactive Effects Models
We propose a transformed estimator for the slope coefficients of panel models with interactive effects. The transformed estimation method does not require the prior knowledge of the dimension of factor structure. It is consistent and asymptotically normally distributed under fairly general conditions when N is fixed and T→∞ or T is fixed and N→∞, or when both N and T are large and NT→a≠0<∞. Moreover, because the transformation is equivalent to ag…
Assessing the impacts of pandemic and the increase in minimum down payment rate on Shanghai housing prices
Panel treatment effects measurement
We discuss methods of measuring the treatment effects of a unit through the use of other units in panel data by either the factor‐based (FB) approach or the linear projection (LP) approach under different sample configurations of cross‐sectional dimension and time series dimension . We show that the LP approach in general yields smaller mean square prediction error than the FB approach when either both and are large or fixed and or fixed and larg…
A selective review of panel approaches to construct counterfactuals
We argue that the fundamental issue of measuring treatment effects is to obtain good predictions of missing outcomes. However, there is no realized value to evaluate the quality of the predicted value generated by a particular method. The choice of prediction method has to rely on the compatibility of the observed data with the underlying assumptions of an approach and the predictive ability of the approach. In this paper, we selectively review s…
Econometrics (12 obras) · Economics (10 obras) · Mathematics (10 obras) · Statistics (8 obras) · Spatial and Panel Data Analysis (7 obras) · Computer Science (6 obras) · Panel data (6 obras) · Advanced Causal Inference Techniques (4 obras) · 330.01/5195 (3 obras) · Analysis of variance (3 obras)