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lassopack: Model selection and prediction with regularized regression in Stata

Achim Ahrens, Christian B. Hansen, Mark E. Schaffer

arXiv 16 Jan 2019 · Econometrics · publishedThe Stata Journal Promoting communications on statistics and Stata (2020) · 36 citations (OpenAlex)

arXiv:1901.05397 · PDF · DOI · OpenAlex · Extracted main text

Abstract

This article introduces lassopack, a suite of programs for regularized regression in Stata. lassopack implements lasso, square-root lasso, elastic net, ridge regression, adaptive lasso and post-estimation OLS. The methods are suitable for the high-dimensional setting where the number of predictors $p$ may be large and possibly greater than the number of observations, $n$. We offer three different approaches for selecting the penalization (`tuning') parameters: information criteria (implemented in lasso2), $K$-fold cross-validation and $h$-step ahead rolling cross-validation for cross-section, panel and time-series data (cvlasso), and theory-driven (`rigorous') penalization for the lasso and square-root lasso for cross-section and panel data (rlasso). We discuss the theoretical framework and practical considerations for each approach. We also present Monte Carlo results to compare the performance of the penalization approaches.

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62
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Most heavily cited references

The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.

ReferenceIntensityMentionsSectionsMain text
1width30.25006ptheight2.62222ptdepth-2.25222pt (2014) Pivotal estimation via square-root Lasso in nonparametric regression1.00064100%
2Belloni, A., V. Chernozhukov, and L. Wang (2011) Square-root lasso: pivotal recovery of sparse signals via conic programming1.00053100%
3Belloni, A., D. Chen, V. Chernozhukov, and C. Hansen (2012) Sparse Models and Methods for Optimal Instruments With an Application to Eminent Domain0.874102100%
4Hastie, T., R. Tibshirani, and J. Friedman (2009) The Elements of Statistical Learning0.84333100%
5Arlot, S., and A. Celisse (2010) A survey of cross-validation procedures for model selection0.81142100%
6Belloni, A., V. Chernozhukov, and C. Hansen (2014) Inference on treatment effects after selection among high-dimensional controls0.81142100%
7Belloni, A., V. Chernozhukov, C. Hansen, and D. Kozbur (2016) Inference in High Dimensional Panel Models with an Application to Gun Control0.73732100%
8Zou, H., T. Hastie, and R. Tibshirani (2007) degrees of freedom0.73732100%
9Chen, J., and Z. Chen (2008) Extended Bayesian information criteria for model selection with large model spaces0.64441100%
10Chernozhukov, V., C. Hansen, and M. Spindler (2015) Post-Selection and Post-Regularization Inference in Linear Models with Many Controls and Instruments0.64422100%

Showing the top 10 of 62 scored citations.

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1Forecasting Oil Consumption: The Statistical Review of World Energy Meets Machine Learning0.73732
2pystacked: Stacking generalization and machine learning in Stata0.64422
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5Machine Learning for Zombie Hunting: Predicting Distress from Firms' Accounts and Missing Values We are grateful to participants to the Bank of Italy/CEPR/EIEF conference on `Firm Dynamics and Economic Growth', to the Bank of England/King's College conference on `Modelling with Big Data and Machine Learning', to the Annual Conference of the JRC Community of Practice in Financial Research organized by the European Commission, and to the workshops on `Data Science for Impact Evaluation' jointly organized by KU Leuven and IMT School for Advanced Studies. We want to thank Tommaso Aquilante, Nicola Benatti, Kristina Bluwstein, Elena Cefis, Giulio Bottazzi, Dimitrios Exadaktylos, Nicoló Fraccaroli, Mahdi Ghodsi, Andreas Joseph, Francesca Lotti, Francesco Manaresi, Juri Marcucci, Andrea Mina, Chiara Osbat, Gianmarco Ottaviano, Giacomo Rodano, Andrea Roventini, Gabriele Rovigatti, Abhishek Samantray, Federico Tamagni, Francisco Queiro, Gias Uddin, Nicolas Woloszko and Nicoló Vallarano for their valuable comments0.00021