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1.
This article decomposes the impact of imports on domestic price-cost margins into separate price and cost effects. Using
data from 24 food-processing industries, the empirical results show that although the direct impact of imports on prices is
always negative, a positive net impact on price-cost margins occurs in industries characterized by low own-price elasticity
of demand and diseconomies of scale. Further results show that the disciplining effect of imports is more preponderant the
lower the degree of domestic competition.
First version received: September 2000/Final version received: March 2002
RID="*"
ID="*" Professor and Associate Professor, respectively, in their respective departments. They can be reached at rigoberto.lopez@uconn.edu
or elena.lopez@uah.es. The authors are grateful to two anonymous referees for their fruitful and helpful comments. Financial
support provided by the USDA CSREES special grant No. 00-34178-9036 and by the Cátedras del Banco Santander Central Hispano-Universidad
de Alcalá. This is Scientific Contribution No. 1794 of the Storrs Agricultural Experiment Station.
RID="*"
ID="*" Professor and Associate Professor, respectively, in their respective departments. They can be reached at rigoberto.lopez@uconn.edu
or elena.lopez@uah.es. The authors are grateful to two anonymous referees for their fruitful and helpful comments. Financial
support provided by the USDA CSREES special grant No. 00-34178-9036 and by the Cátedras del Banco Santander Central Hispano-Universidad
de Alcalá. This is Scientific Contribution No. 1794 of the Storrs Agricultural Experiment Station. 相似文献
2.
This paper examines Bayesian methods of examining posterior distributions of inequality, concentration, tax progressivity
and social welfare measures. Use is made of an explicit income distribution assumption and two alternative assumptions regarding
the distribution of pre-tax mean incomes within each income group. The methods are applied to a simulated distribution of
individual incomes and tax payments. It is possible to identify a minimum acceptable number of income classes to be used.
The results suggest support for the use of group means in practical applications, particularly where large sample sizes are
available.
First version received: August 2000/Final version received: July 2001
RID="*"
ID="*" This research was supported by a Melbourne University Faculty of Economics and Commerce Research Grant. We should
like to thank Bill Griffiths and two referees for comments on an earlier draft. 相似文献
3.
Jiazhong You 《Empirical Economics》2003,28(1):61-73
Both standard and robust methods are used here to estimate models of Engel curves for three household commodities, namely,
food, transport, and tobacco and alcohol in Canada. The income elasticities of demand computed from the various methods differ
significantly for the transport and tobacco-alcohol consumption where there are obvious outliers and zero expenditures problem.
Robust estimators point to lower income elasticities and have better performance than the standard LS and Tobit estimator.
These results are analyzed in the light of the information on finite-sample performance obtained in a previous Monte Carlo
study.
First version received: July 2000/Final version received: July 2001
RID="*"
ID="*" I wish to thank Victoria Zinde-Walsh, John Galbraith, Clint Coakley, two anonymous referees and an associate editor
for helpful comments. I would also like to thank Anastassia Khouri for kindly providing the 1992 Family Expenditure Survey
of Canada data. 相似文献
4.
5.
A decomposition analysis for consumer demand functions is developed. Changes in Marshallian demand or expenditure shares functions over time are decomposed into a total substitution effect, an income effect, and a habit effect. This framework is applied to post-war Greek consumption patterns through a habit persistence version of the Quadratic Almost Ideal Demand System (QUAIDS). It is found that for all commodity categories (i.e., food, beverages and tobacco, footwear and clothing, settling and housing, and others) the income effect was the main driving force in explaining changes in both quantity demanded and expenditure shares, followed by habit and total substitution effects. 相似文献
6.
The proper panel econometric specification of the gravity equation: A three-way model with bilateral interaction effects 总被引:6,自引:0,他引:6
We argue that the proper specification of a panel gravity model should include main (exporter, importer, and time) as well
as time invariant exporter-by-importer (bilateral) interaction effects. In a panel of 11 APEC countries, the latter are highly
significant and account for the largest part of variation.
First version received: February 2001/Final version received: June 2002
RID="*"
ID="*" We are grateful to two anonymous referees and Robert Kunst for their helpful comments. 相似文献
7.
Increasing public concerns about health risks associated with dietary intakes of cholesterol are expected to have significant
impacts on the demand for foods with high fat content. This paper investigates how information about cholesterol, as measured
by two newly constructed indices based on published medical research, has affected the demand for meats (beef, chicken and
pork) and fish in the Nordic countries (Denmark, Finland, Norway and Sweden). To compare the effects of information across
countries and over time, the demand equations for all the countries are estimated within one system, and a complete set of
price and expenditure elasticities is estimated. Our findings suggest that health information has affected consumption in
a healthy way in all countries studied except for Denmark. We find positive effects on the demand for chicken in Finland,
Norway and Sweden and for fish in Finland and Sweden. A negative effect on the demand for beef in Sweden also is found.
First version received: May 2001/Final version received: December 2001
RID="*"
ID="*" The authors would like to thank Wen S. Chern and Bj?rn Sl?en for their assistance in the construction of the health
information indices. The suggestions of two anonymous referees have also been of great assistance. The EU (contract FAIRS-CT97-3373)
and the Research Council of Norway (grant no. 134018/110) provided financial support for this research.” 相似文献
8.
John Geanakoplos 《Economic Theory》2003,21(2-3):585-603
Summary. The existence of Nash and Walras equilibrium is proved via Brouwer's Fixed Point Theorem, without recourse to Kakutani's
Fixed Point Theorem for correspondences. The domain of the Walras fixed point map is confined to the price simplex, even when
there is production and weakly quasi-convex preferences. The key idea is to replace optimization with “satisficing improvement,”
i.e., to replace the Maximum Principle with the “Satisficing Principle.”
Received: July 9, 2001; revised version: February 25, 2002
RID="*"
ID="*" I wish to thank Ken Arrow, Don Brown, and Andreu Mas-Colell for helpful comments. I first thought about using Brouwer's
theorem without Kakutani's extension when I heard Herb Scarf's lectures on mathematical economics as an undergraduate in 1974,
and then again when I read Tim Kehoe's 1980 Ph.D dissertation under Herb Scarf, but I did not resolve my confusion until I
had to discuss Kehoe's presentation at the celebration for Herb Scarf's 65th birthday in September, 1995.
RID="*"
ID="*"Correspondence to: C. D. Aliprantis 相似文献
9.
Armando Levy 《Empirical Economics》2003,28(1):3-22
This paper proposes a semi-parametric approach to estimation in Tobit models. A generalized additive Tobit model of residential local long distance (intra-LATA) telephone demand is estimated on a cross-section of residential telephone
consumers across twenty-eight states. While past studies of telecommunications demand have used fully parametric models, the
model presented here is non-parametric in two dimensions: first no distributional assumption is made for the error distribution,
and second, the demand equation is non-parametric with respect to price. We find that the elasticity of demand is substantially
lower (in absolute value) that found in previous studies for a 40% cut in tariffs.
First version received: July 2000/Final version received: March 2001
RID="*"
ID="*" I thank the referee and Associate Editor for suggestions which improved the paper.
The views expressed here are of the author and not Analysis Group | Economics. 相似文献
10.
This paper provides an empirical analysis of the structure of earnings in West Germany across skill groups and industries.
Our analysis is based on data from the German Socioeconomic Panel for the period 1984 to 1994. We estimate quantile regressions,
both for the entire sample period and for each year separately, in order to obtain a finer picture of the earnings structure
compared to conventional least squares methods. For robust standard error estimation, this study uses a block bootstrap procedure
taking account of heteroskedasticity and autocorrelation in the error term. We also suggest a simple procedure to obtain a
consistent estimate of inter-industry earnings variability. Our main findings are: first, pooled estimation comprising a uniform
time trend is not rejected by the data, and second, the effects of human capital variables and industry dummies on earnings
differ considerably across quantiles.
First version: May 1998/Final version: April 2002
RID="*"
ID="*" We are grateful to an anonymous referee as well as to Thiess Büttner, Christian Dustmann, Wolfgang Franz, John Haisken-DeNew,
Costas Meghir, Werner Smolny, Peter Winker, Volker Zimmermann, and seminar participants in Heidelberg, Kassel, Konstanz, and
Paris for helpful comments. However, all errors are our sole responsibility.
RID="*"
ID="*" We are grateful to an anonymous referee as well as to Thiess Büttner, Christian Dustmann, Wolfgang Franz, John Haisken-DeNew,
Costas Meghir, Werner Smolny, Peter Winker, Volker Zimmermann, and seminar participants in Heidelberg, Kassel, Konstanz, and
Paris for helpful comments. However, all errors are our sole responsibility. 相似文献
11.
Rolando F. Peláez 《Empirical Economics》2003,28(2):417-429
This paper provides the strongest evidence to-date on the predictability of real stock prices over long horizons. Ex ante
forecasts account for over two-thirds of the variation of the growth rate of real stock prices over ten year spans from 1940
through 2001. The paper forecasts negative growth rates of real stock prices over the next ten years. This bearish long-run
outlook is buttressed by the long-run relationship between the growth rates of real stock prices, inflation, dividends, and
productivity.
First version received: June 2000/Final version received: June 2001
RID="*"
ID="*" Special thanks to an anonymous referee for helpful comments. 相似文献
12.
Summary. This note studies conditions under which sequences of state variables generated by discrete-time stochastic optimal accumulation
models have law of large numbers and central limit properties. Productivity shocks with unbounded support are considered.
Instead of restrictions on the support of the shock, an “average contraction” property is required on technology.
Received: August 27, 2001; revised version: January 9, 2002
RID="*"
ID="*"The author thanks John Creedy and Rabee Tourky for helpful comments, and the Economic Theory Center, University of Melbourne
for financial support. 相似文献
13.
Estimation of technical inefficiency effects using panel data and doubly heteroscedastic stochastic production frontiers 总被引:3,自引:0,他引:3
In previous studies, measures of technical inefficiency effects derived from stochastic production frontiers have been estimated
from residuals which are sensitive to specification errors. This study corrects for this inaccuracy by extending the doubly
heteroscedastic stochastic cost frontier suggested by Hadri (1999) to the model for technical inefficiency effects. This model
is a stochastic frontier production function for panel data as proposed by Battese and Coelli (1995). The study uses, for
illustration of the techniques, data on 101 mainly cereal farms in England. We find that the correction for heteroscedasticity
is supported by the data. Both point estimates and confidence intervals for technical efficiencies are provided. The confidence
intervals are constructed by extending the “Battese-Coelli” method reported by Horrace and Schmidt (1996) by allowing the
technical inefficiency to be time varying and the disturbance terms to be heteroscedastic. The confidence intervals reveal
the precision of technical efficiency estimates and show the deficiencies of making inferences based exclusively on point
estimates.
First version received: March 2000/Final version received: Oct. 2001
RID="*"
ID="*" The authors are grateful to the Economic and Social Research Council for access to their Data Archive which has provided
the data for this research. We are indebted to Badi Baltagi and two anonymous referees for their helpful comments and suggestions.
The usual caveat applies. 相似文献
14.
In this paper the long-run trend in RPI inflation (core inflation) for the UK over the 1961–1997 period is estimated within the framework of a multivariate common trends model which extends
the bivariate VAR approach of Quah and Vahey (1995). In this context core inflation is directly linked to money and wage growth and interpreted
as the long-run forecast of inflation from a small-scale, cointegrated macroeconomic system.
First version received: September 1999/Final version received: October 2001
RID="*"
ID="*" We thank two anonymous referees for many helpful comments and suggestions. Work on this paper was partially conducted
when C. Morana was at Heriot-Watt University. 相似文献
15.
Susanne Maidorn 《Empirical Economics》2003,28(2):387-402
Assuming full hysteresis in the Austrian labour market, a simple macroeconomic framework is used to model the effect of four
structural shocks, i.e. shocks to productivity, demand, wages and labour supply. By using SVAR analysis, we derive impulse-response
functions that show the effects of these shocks on unemployment. What constitutes a distinctive feature of our study is the
deliberate use of overidentifying restrictions, allowing for a likelihood ratio test. The objection to SVAR methodology, that
it relies on arbitrary assumptions, can thus be overcome, as invalid sets of identifying restrictions are rejected.
First version received: September 2000/Final version received: March 2002
RID="*"
ID="*" I thank Juan F. Jimeno, Martin Wagner, Helmut Hofer and Bernhard B?hm for their assistance; Robert Kunst and Martin
Spitzer for their discussion of an earlier version of this paper; Thomas Sparla, Michael Roos and two anonymous referees for
their helpful comments. 相似文献
16.
John Quiggin 《Economic Theory》2003,22(3):607-611
Summary. In this paper, it is shown that, for a wide range of risk-averse generalized expected utility preferences, independent risks
are complementary, contrary to the results for expected utility preferences satisfying conditions such as proper and standard
risk aversion.
Received: August 10, 2001; revised version: June 18, 2002
RID="*"
ID="*"I thank Simon Grant and an anonymous referee for helpful comments and criticism. This research was supported by an Australian
Research Council Senior Fellowship and Australian Research Council Large Grant A79800678. 相似文献
17.
In this paper, we provide new evidence on how to model unemployment durations in the presence of temporary layoffs. Two different
types of econometric models are used: the multiple phase duration model and the competing risks model. Special attention is
paid to the possibility of time-varying or non-proportional effects of the explanatory variables on the hazard function. The
results show that instead of using the multiple phase duration model as an alternative to the competing risks model, it may
be more fruitful to use it to extend the specification of the competing risks model.
First version received: August 2000/Final version accepted: July 2001
RID="*"
ID="*" Financial support from the Danish National Research Foundation is gratefully acknowledged. We thank Gerard van den
Berg, Per-Anders Edin, Niels Haldrup, Winfred Pohlmeier and anonymous referees for useful comments. We also thank Jens Chr.
Thellesen for research assistance. 相似文献
18.
This paper presents a methodological extension of Deaton's (1990) model for estimating price elasticities, by pooling Tunisian
data from several surveys to improve the inter-cluster variability of unit values which is one of the key elements used in
the derivation of these elasticities. Since the surveys cover a relatively long period, possible structural changes in consumption
behaviour occurring over time are accounted for by postulating that certain response coefficients of the basic model vary
from one survey to the other. The own price and cross price elasticities calculated using appropriate estimates of the extended
model are satisfactory both from the economic point of view of their sign and the statistical point of view of their significance
and superior to those obtained using a single survey.
First version received: April 2000/Final version received: June 2001
RID="*"
ID="*" The authors would like to thank Angus Deaton and anonymous referees for useful comments and suggestions. 相似文献
19.
On the choice of functional form in stochastic frontier modeling 总被引:4,自引:1,他引:4
This paper examines the effect of functional form specification on the estimation of technical efficiency using a panel data
set of 125 olive-growing farms in Greece for the period 1987–93. The generalized quadratic Box-Cox transformation is used
to test the relative performance of alternative, widely used, functional forms and to examine the effect of prior choice on
final efficiency estimates. Other than the functional specifications nested within the Box-Cox transformation, the comparative
analysis includes the minflex Laurent translog and generalized Leontief that possess desirable approximation properties. The
results indicate that technical efficiency measures are very sensitive to the choice of functional specification. Perhaps
most importantly, the choice of functional form affects the identification of the factors affecting individual performance
– the sources of technical inefficiency. The analysis also shows that while specification searches do narrow down the set
of feasible alternatives, the identification of the most appropriate functional specification might not always be (statistically)
feasible.
First version received: November 1999/Final version received: July 2001
RID="*"
ID="*" The authors wish to thank Almas Heshmati, Robert Romain, and an anonymous referee for insightful comments and suggestions.
Special thanks go to the associate editor who handled the paper, and whose careful reading and suggestions have improved the
paper substantially. The second author wishes to acknowledge the financial support from “President SSHRC” from the University
of Saskatchewan. The usual caveats with respect to opinions expressed in the paper apply. Senior authorship is shared. This is University of Nebraska-Lincoln Agricultural Research Division Article No. 13270. 相似文献
20.
Chris M. Alaouze 《Empirical Economics》2003,28(3):599-613
The modified logit model (Amemiya and Nold, 1975) is generalised to the case where the error term is autocorrelated. The
asymptotic distribution (as n →∞ and T →∞) of a feasible GLS estimator of β is derived. Tests of linear restrictions on β and the significance of ρ are presented.
The results of the applied work suggest that the factors which explain the pricing behaviour of manufacturing firms, as reported
in the tendency survey conducted by the Australian Chamber of Commerce and Industry and the Westpac Banking Corporation, include
historical inflation rates of up to 7 quarters and capacity utilisation.
First version received: March 2001/Final version received: July 2002
RID="*"
ID="*" The first draft of this paper was written while the author was on study leave at the Department of Econometrics, University
of Sydney, Australia. 相似文献