Estimating Penalized Spline Regressions: Theory and Application to Economics

15 Pages Posted: 16 May 2005

See all articles by Alfred Greiner

Alfred Greiner

Bielefeld University - Department of Business Administration and Economics

Date Written: June 21, 2005

Abstract

In this paper we give a brief survey of penalized spline smoothing. Penalized spline smoothing is a general non-parametric estimation technique which allows to fit smooth but else unspecified functions to empirical data. While penalized spline regressions are quite popular in natural sciences only few applications can be found in economics. We present an example demonstrating how this non-parametric estimation technique can help to gain insights into economics.

Keywords: Non-parametric estimation, penalized spline smoothing, generalized additive models

JEL Classification: C140

Suggested Citation

Greiner, Alfred, Estimating Penalized Spline Regressions: Theory and Application to Economics (June 21, 2005). Available at SSRN: https://ssrn.com/abstract=722823 or http://dx.doi.org/10.2139/ssrn.722823

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