This chapter studies the microeconometric treatment-effect and structural approaches to dynamic policy evaluation. First, we discuss a reduced-form approach based on a sequential randomization or dynamic matching assumption that is popular in biostatistics. We then discuss two complementary approaches for treatments that are single stopping times and that allow for non-trivial dynamic selection on unobservables.The first builds on continuous-time duration and event-history models.The second extends the discrete-time dynamic discrete-choice literature.
CITATION STYLE
Abbring, J. H., & Heckman, J. J. (2008). Dynamic Policy Analysis. In Advanced Studies in Theoretical and Applied Econometrics (Vol. 46, pp. 795–863). Springer. https://doi.org/10.1007/978-3-540-75892-1_24
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