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Professor Stéphane Bonhomme, University of Chicago, will hold a lecture entitled "Heterogeneity in Linear Econometric Models." The lecture is open to all interested. Refreshments will be served outside the auditorium from 13:45.The causal perspective pioneered by Trygve Haavelmo has become a dominant paradigm in modern applied economics. In that perspective, it is crucial to allow for coefficient heterogeneity to study how individuals respond differently to hypothetical interventions. In this presentation, I will discuss how heterogeneous responses can be empirically recovered. The focus will be on linear systems, as in Haavelmo’s work, with an emphasis on responses to both exogenous and non-exogenous sources of variation. One leading example will be a linear model with unit and time fixed effects – commonly referred to as “two-way fixed effects” – and unrestricted coefficient heterogeneity. While these models are over-parameterized, as they include more parameters than observations, I will show how meaningful parameter combinations can be identified. This allows for the recovery of average effects of hypothetical interventions in various settings.
About Stéphane Bonhomme
Stéphane Bonhomme is The Ann L. and Lawrence B. Buttenwieser Professor of Economics, Kenneth C. Griffin Department of Economics, The University of Chicago. He has made significant contributions in the fields of microeconometrics, labor economics, and econometric theory. More specifically, Bonhomme's contributions have been related to the modeling of latent variables and econometric methods for the analysis of panel data.
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Event Venue & Nearby Stays
Moltke Moes vei 31, 0851 Oslo, Norway, Moltke Moes vei 31, 0851 Oslo, Norge,Oslo, Norway
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