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DTSTART:20070311T020000
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DTSTAMP:20261111T142925
DTSTART;TZID=America/Detroit:20261116T160000
DTEND;TZID=America/Detroit:20261116T172000
SUMMARY:Workshop / Seminar:Estimating Demand with Recentered Instruments (joint with Kirill Borusyak and Mauricio Caceres Bravo)
DESCRIPTION:We develop a new approach to estimating flexible demand models with exogenous supply-side shocks. Our approach avoids conventional assumptions of exogenous product characteristics\, putting no restrictions on product entry\, despite using instrumental variables that incorporate characteristic variation. The proposed instruments are model-predicted responses of endogenous variables to the exogenous shocks\, recentered to avoid bias from endogenous characteristics. We illustrate the approach in a series of Monte Carlo simulations and an application to the demand for Medicare Advantage insurance plans.
UID:149337-21906246@events.umich.edu
URL:https://events.umich.edu/event/149337
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Economics,Public Finance,seminar
LOCATION:North Quad - 4325
CONTACT:
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