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  4. Fall 2001
  5. The Bootstrap and Multiple Imputations: Harnessing Increased Computing Power for Improved Statistical Tests

Journal of Economic Perspectives

ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)

The Bootstrap and Multiple Imputations: Harnessing Increased Computing Power for Improved Statistical Tests

  • David Brownstone
  • Robert Valletta
Journal of Economic Perspectives
vol. 15, no. 4, Fall 2001
(pp. 129–141)
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Abstract

The bootstrap and multiple imputations are two techniques that can enhance the accuracy of estimated confidence bands and critical values. Although they are computationally intensive, relying on repeated sampling from empirical data sets and associated estimates, modern computing power enables their application in a wide and growing number of econometric settings. We provide an intuitive overview of how to apply these techniques, referring to existing theoretical literature and various applied examples to illustrate both their possibilities and their pitfalls.

Citation

Brownstone, David, and Robert Valletta. 2001. "The Bootstrap and Multiple Imputations: Harnessing Increased Computing Power for Improved Statistical Tests." Journal of Economic Perspectives, 15 (4): 129–141. DOI: 10.1257/jep.15.4.129

JEL Classification

  • C20 Single Equation Models; Single Variables: General
  • C13 Estimation
  • C12 Hypothesis Testing
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