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Author:Hu, Luojia 

Working Paper
The COVID-19 Pandemic and Asian American Employment

This paper documents that the employment of Asian Americans with no college education has been especially hard hit by the economic crisis associated with the Covid-19 pandemic. This cannot be explained by differences in demographics or in job characteristics, and the pattern does not apply to the 2008 economic crisis. We find some evidence that the effect is larger in occupations with more interpersonal tasks. Asian American employment is also harder hit unconditional on education. This suggests that different selection into education levels across ethnic groups alone cannot explain the main ...
Working Paper Series , Paper WP-2020-19

Working Paper
Estimation of a transformation model with truncation, interval observation and time-varying covariates

Abrevaya (1999b) considered estimation of a transformation model in the presence of left-truncation. This paper observes that a cross-sectional version of the statistical model considered in Frederiksen, Honor, and Hu (2007) is a generalization of the model considered by Abrevaya (1999b) and the generalized model can be estimated by a pairwise comparison version of one of the estimators in Frederiksen, Honor, and Hu (2007). Specifically, our generalization will allow for discretized observations of the dependent variable and for piecewise constant time- varying explanatory variables.
Working Paper Series , Paper WP-09-16

Working Paper
Displacement, asymmetric information and heterogeneous human capital

In a seminal paper Gibbons and Katz (1991; GK) develop and empirically test an asymmetric information model of the labor market. The model predicts that wage losses following displacement should be larger for layoffs than for plant closings, which was borne out by data from the Displaced Workers Survey (DWS). In this paper, we take advantage of many more years of DWS data to examine how the difference in wage losses across plant closing and layoff varies with race and gender. We find that the differences between white males and the other groups are striking and complex. The "lemons" effect ...
Working Paper Series , Paper WP-08-02

Working Paper
Credit Score Doctors

We study how the existence of cutoffs in credit scores affects the behavior of homebuyers. Borrowers are more likely to purchase houses after their credit scores cross over a cutoff to qualify them for a higher credit score bin. However, the credit accounts of these individuals (crossover group) are more likely to become delinquent within four years following home purchases than the accounts of those who had stayed in the same bin (non-crossover group). The effect is not only concentrated in subprime bins, but in other bins as well. It is neither limited to pre-crisis period nor curtailed by ...
Working Paper Series , Paper WP-2020-07

Working Paper
Estimation of panel data regression models with two-sided censoring or truncation

This paper constructs estimators for panel data regression models with individual specific heterogeneity and two-sided censoring and truncation. Following Powell (1986) the estimation strategy is based on moment conditions constructed from re-censored or re-truncated residuals. While these moment conditions do not identify the parameter of interest, they can be used to motivate objective functions that do. We apply one of the estimators to study the effect of a Danish tax reform on household portfolio choice. The idea behind the estimators can also be used in a cross sectional setting.
Working Paper Series , Paper WP-2011-08

Working Paper
Poor (Wo)man’s Bootstrap

The bootstrap is a convenient tool for calculating standard errors of the parameters of complicated econometric models. Unfortunately, the fact that these models are complicated often makes the bootstrap extremely slow or even practically infeasible. This paper proposes an alternative to the bootstrap that relies only on the estimation of one-dimensional parameters. The paper contains no new difficult math. But we believe that it can be useful.
Working Paper Series , Paper WP-2015-1

How Health Insurance Improves Financial Health

Low-income Americans who became eligible to enroll in Medicaid due to the Affordable Care Act saw their medical debt cut in half.
Chicago Fed Letter

Working Paper
Simpler Bootstrap Estimation of the Asymptotic Variance of U-statistic Based Estimators

The bootstrap is a popular and useful tool for estimating the asymptotic variance of complicated estimators. Ironically, the fact that the estimators are complicated can make the standard bootstrap computationally burdensome because it requires repeated re-calculation of the estimator. In Honor and Hu (2015), we propose a computationally simpler bootstrap procedure based on repeated re-calculation of one-dimensional estimators. The applicability of that approach is quite general. In this paper, we propose an alternative method which is specific to extremum estimators based on U-statistics. ...
Working Paper Series , Paper WP-2015-7

Working Paper
Prenatal sex selection and girls' well-being? evidence from India

The paper studies the impact of prenatal sex selection on the well-being of girls by analyzing changes in children's nutritional status and mortality during the years since the diffusion of sex-selective abortion in India. We use the ratio of male to female births in the year and state in which a child was born as a proxy for parental access to prenatal sex-selection. Using repeated cross-sections from a rich survey dataset, we show that high sex ratios at birth reflect the practice of sex-selective abortion. We then exploit the large regional and time variations in the incidence of ...
Working Paper Series , Paper WP-2010-11

Working Paper
The COVID-19 Pandemic and Asian American Employment

Recent studies have documented the disparate impact of the COVID-19 pandemic on labor market outcomes for different racial groups. This paper adds to this literature by documenting that the employment of Asian Americans - in particular those with no college education - has been especially hard hit by the economic crisis associated with the onset of the pandemic. This can only partly be explained by differences in demographics, local market conditions, and job characteristics, and it also cannot be entirely explained by possible different selection into education levels across ethnic groups. ...
Working Paper Series , Paper WP-2020-19



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