The informativeness of estimation moments
提出了衡量广义矩估计中每个矩对参数估计精度贡献的指标，并通过夫妻联合退休规划模型展示了其应用，发现休闲互补性主要由计划退休日期差异分布提供信息。
Summary This paper introduces measures for how each moment contributes to the precision of parameter estimates in generalized method of moments settings. For example, one of the measures asks what would happen to the variance of the parameter estimates if a particular moment was dropped from the estimation. The measures are all easy to compute. We illustrate the usefulness of the measures through two simple examples as well as an application to a model of joint retirement planning of couples. We estimate the model using the British Household Panel Survey, and we find evidence of complementarities in leisure. Our sensitivity measures illustrate that the estimate of the complementarity is primarily informed by the distribution of differences in planned retirement dates. The estimated econometric model can be interpreted as a bivariate ordered‐choice model that allows for simultaneity. This makes the model potentially useful in other applications.