What Goes Up Might Not Come Down
Modeling Directional Asymmetry with Large-N, Large-T Data
Bibliographic Data
| ID | 6169941 |
|---|---|
| Authors | R P Thombs (0000-0002-8823-6143, Boston College, Chestnut Hill, MA, USA, corresponding author), Xiaorui Huang (0000-0002-3823-0253, Boston College, Chestnut Hill, MA, USA), Jared Berry Fitzgerald (0000-0003-1755-6323, Boston College, Chestnut Hill, MA, USA) |
| Year | 2021 |
| Volume | 52 |
| Issue | 1 |
| Pages | 1-29 |
| Publication date | 2021-09-28 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Sociological Methodology (JOURNAL) |
| Journal identifiers | ISSN: 0081-1750 • E-ISSN: 1467-9531 |
| Publisher | SAGE Publishing (PUBLISHER • US) |
| DOI | 10.1177/00811750211046307 |
| OpenAlex | W3203115475 |
| Language | EN |
| Citations received | 13 |
| References cited | 61 |
Modeling asymmetric relationships is an emerging subject of interest among sociologists. York and Light advanced a method to estimate asymmetric models with panel data, which was further developed by Allison. However, little attention has been given to the large- N, large- T case, wherein autoregression, slope heterogeneity, and cross-sectional dependence are important issues to consider. The authors fill this gap by conducting Monte Carlo experiments comparing the bias and power of the fixed-effects estimator to a set of heterogeneous panel estimators. The authors find that dynamic misspecification can produce substantial biases in the coefficients. Furthermore, even when the dynamics are correctly specified, the fixed-effects estimator will produce inconsistent and unstable estimates of the long-run effects in the presence of slope heterogeneity. The authors demonstrate these findings by testing for directional asymmetry in the economic development–CO 2 emissions relationship, a key question in macro sociology, using data for 66 countries from 1971 to 2015. The authors conclude with a set of methodological recommendations on modeling directional asymmetry
Asymmetry · Autoregressive model · Data set · Econometrics · Economics · Estimator · Explanatory power · Macro · Monte Carlo method · Panel data · Physics · Set (abstract data type · Statistics · Climate Change Policy and Economics · Computer Science · Energy, Environment, Economic Growth · Mathematics · Spatial and Panel Data Analysis
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Testing Weak Cross-Sectional Dependence in Large Panels
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Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors
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The Asymmetrical Effects of Economic Development on Consumption-based and Production-based Carbon Dioxide Emissions, 1990 to 2014
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| Unique citing works | 13 |
|---|---|
| Citations per year | 3,25 |
| Citation span | 2022 - 2026 (5) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 13 |