Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/207231 
Year of Publication: 
2019
Series/Report no.: 
CESifo Working Paper No. 7840
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
We adopt the Jackknife Model Averaging (JMA) technique to conduct a meta-regression analysis of 925 renminbi (RMB) misalignment estimates generated by 69 studies. The JMA method accounts for model selection and sampling uncertainties, and allows for non-nested model specifications and heteroskedasticity in assessing effects of study characteristics. The RMB misalignment estimates are found to be systematically affected by the choices of data, the theoretical setup and the empirical strategy, in addition to publication attributes of these studies. These study characteristic effects are quite robust to the choice of benchmark study characteristics, to alternative model averaging methods including the heteroskedasticity-robust Mallows approach, the information criterion approach, and the Bayesian model averaging. In evaluating the probabilistic property of RMB misalignment estimates implied by hypothetical composites of study characteristics, we find the evidence of a misaligned RMB, in general, is weak.
Subjects: 
frequentist model average
meta-analysis
Mallows criterion
Bayesian model averaging
publication biases
JEL: 
C83
F31
F41
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.