This code allows user replicating the Monte Carlo simulations proposed in the paper “Is Public Capital Really Productive? A Methodological Reappraisal” (Hurlin and Minea, 2012). The user can choose the values of some calibrated parameters, the specification (level/first differences, OCRS versus PFCRS), the sample size and the number of Monte Carlo simulations. The goal of the code is to assess the potential finite sample bias on public capital elasticity estimates for a particular specification and for a particular guess on the true value of parameters.
Oxford Bulletin of Economics and Statistics (2022)
Matsuoka Hideaki