Trading Nontradables — expanded estimators
Archive index · Regression tests · Results & settings (JSON) · Methods & code
Muñoz (2024), QJE. https://doi.org/10.1093/qje/qjad032
3 specifications. Effects are in outcome standard deviations; intervals are 95%.
Treatment adoption
S17-P001: seeded sample of 69 of 69 eligible units. Purple untreated; yellow treated; white unobserved.
TN-F2-ANNOTATED-SCALAR
814 observations · 69 units · 69 clusters · 23 treated / 46 control units.
Estimate comparison
| Estimator | Estimate (SDs) | SE | 95% CI | Averaging |
|---|---|---|---|---|
| Static TWFE | 0.584 | 0.155 | [0.274, 0.893] | Coefficient |
| Dynamic TWFE | 0.783 | 0.126 | [0.532, 1.034] | Treated cells |
| BJS / did2s | 0.741 | 0.141 | [0.459, 1.023] | Treated cells |
| Sun–Abraham | 0.757 | 0.120 | [0.518, 0.996] | Treated cells |
| CS-DID (equal event-time) | 1.096 | 0.172 | [0.758, 1.434] | Equal post-event times |
| CS-DID (treated cells) | 0.973 | 0.136 | [0.707, 1.239] | Treated cells |
| Matrix completion | 0.804 | — | — | Treated cells |
Event studies
Periods −10 to +10; pointwise 95% intervals where available.
TN-F2-BASELINE
913 observations · 71 units · 71 clusters · 23 treated / 48 control units.
Estimate comparison
| Estimator | Estimate (SDs) | SE | 95% CI | Averaging |
|---|---|---|---|---|
| Static TWFE | 0.543 | 0.144 | [0.256, 0.830] | Coefficient |
| Dynamic TWFE | 0.789 | 0.119 | [0.551, 1.026] | equal_periods |
| BJS / did2s | 0.705 | 0.142 | [0.422, 0.987] | equal_periods |
| Sun–Abraham | 0.797 | 0.110 | [0.577, 1.016] | equal_periods |
| CS-DID (equal event-time) | 0.978 | 0.158 | [0.669, 1.286] | Equal post-event times |
| CS-DID (treated cells) | 0.893 | 0.122 | [0.654, 1.132] | Treated cells |
| Matrix completion | 0.736 | — | — | Treated cells |
Event studies
Periods −10 to +10; pointwise 95% intervals where available.
TN-F2-ORIGINDESTYEAR
No common absorbing-treatment sample with observed −1 and untreated counterfactual support.