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Author:Nielsen, Eric R. 

Journal Article
Jargon alert : Opportunity cost

Econ Focus , Volume 8 , Issue Fall , Pages 6

Discussion Paper
A New Measure of Housing Wealth in the Financial Accounts of the United States

This note introduces a new method for measuring the aggregate value of own-use residential real estate in the United States from 2001 to present.
FEDS Notes , Paper 2018-09-28-2

Working Paper
Measuring Aggregate Housing Wealth : New Insights from an Automated Valuation Model

We construct a new measure of aggregate U.S. housing wealth based on Zillow's Automated Valuation Model (AVM). AVMs offer advantages over other methods because they are based on recent market transaction prices, utilize large datasets which include property characteristics and local geographic variables, and are updated frequently with little lag. However, using Zillow's AVM to measure aggregate housing wealth requires overcoming several challenges related to the representativeness of the Zillow sample. We propose methods that address these challenges and generate a new estimate of aggregate ...
Finance and Economics Discussion Series , Paper 2018-064

Working Paper
Correcting for Endogeneity in Models with Bunching

We show that in models with endogeneity, bunching at the lower or upper boundary of the distribution of the treatment variable may be used to build a correction for endogeneity. We derive the asymptotic distribution of the parameters of the corrected model, provide an estimator of the standard errors, and prove the consistency of the bootstrap. An empirical application reveals that time spent watching television, corrected for endogeneity, has roughly no net effect on cognitive skills and a significant negative net effect on non-cognitive skills in children.
Finance and Economics Discussion Series , Paper 2020-080

Working Paper
Should Children Do More Enrichment Activities? Leveraging Bunching to Correct for Endogeneity

We study the effects of enrichment activities such as reading, homework, and extracurricular lessons on children's cognitive and non-cognitive skills. We take into consideration that children forgo alternative activities, such as play and socializing, in order to spend time on enrichment. Our study controls for selection on unobservables using a novel approach which leverages the fact that many children spend zero hours per week on enrichment activities. At zero enrichment, confounders vary but enrichment does not, which gives us direct information about the effect of confounders on skills. ...
Finance and Economics Discussion Series , Paper 2020-036

Journal Article
Jargon alert : Sunk cost

Econ Focus , Volume 9 , Issue Win , Pages 6

Journal Article
Jargon alert : endogenous

Econ Focus , Volume 10 , Issue Win , Pages 12

Journal Article
Book review : Calculated risk: "Fischer Black and the revolutionary idea of finance" by Perry Mehrling

Econ Focus , Volume 9 , Issue Fall , Pages 44-45

Journal Article
Jargon alert : Zero-sum game

Econ Focus , Volume 9 , Issue Spr , Pages 6

Discussion Paper
Updating the Distributional Financial Accounts

In addition to incorporating 2020q2 data from the Financial Accounts, the 2020q2 release of the Distributional Financial Accounts (DFAs) includes three substantial updates. The most consequential is the incorporation of the newly released 2019 Survey of Consumer Finances (SCF).
FEDS Notes , Paper 2020-11-09-2

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