共查询到20条相似文献,搜索用时 15 毫秒
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Hideyuki Mizobuchi 《Journal of Productivity Analysis》2014,42(3):293-304
Economists acknowledge that technical progress and growth in capital inputs increase labour productivity (LP). However, less focus is given to the realization that changes in labour input alone could also affect LP. Because this effect disappears when the short-run technology exhibits constant returns to scale, we call it the returns to scale effect. We decompose growth in LP into three contributing factors: (1) technical progress, (2) capital input growth and the (3) returns to scale effect. We propose theoretical measures for these three components and show that they coincide with the index number formulae consisting of prices and quantities of inputs and outputs. Subsequently, we apply the results of our decomposition to US industry data for 1987–2009. LP in the services sector is shown to grow much slower than that in the goods sector during the 1987–1995 productivity slowdown period. We conclude that the returns to scale effect can considerably explain the gap in LP growth between the two industry groups. 相似文献
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Research concerning the pharmaceutical industry rate of return has concentrated on two policy issues: (1) possible resource misallocation and (2) the drug innovation environment. Accounting returns are suspect for policy purposes, requiring attention to the role of, and impact on, expectations of returns. This paper uses evidence about expectations and about resource flows into R&D consistent with those expectations to infer the level of economic returns. Our results provide evidence of a decline in expected returns, with exit of firms and resources. Regulation may be one of the major causes of the adverse shift in prospective returns from R&D investments. 相似文献
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Charles Hall Yasushi Hamao Trevor S. Harris 《Journal of International Financial Management & Accounting》1994,5(1):47-73
We examine associations between accounting measures of earnings and stock returns in Japan over varying window lengths and compare them to those for the United States. Our results are consistent with the view that Japanese investors utilize less accounting information in their pricing of equities than do their U.S. counterparts. This was particularly evident in the 'boom' period of the mid to late 1980s when the fundamental values conveyed by accounting measures appear to have been largely ignored. The association increases with the inclusion of 1991, suggesting a return to more emphasis on fundamentals with the recent decline in stock prices. 相似文献
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Research on informal housing tends to focus overwhelmingly on less developed countries, downplaying or ignoring entirely the presence of informality in United States housing markets. In actuality, a longstanding and widespread tradition of informal housing exists in the United States but is typically disregarded by scholars. In this article we draw on three definitions of informality—as non‐compliant, non‐enforced, or deregulated economic activity—to characterize examples of informality in US housing markets, focusing in particular on five institutions that govern housing market activity in this country: property rights law, property transfer law, land‐use and zoning, subdivision regulations, and building codes. The cases presented here challenge the notion that informality is absent from US housing markets and highlight the unique nature of informal housing, US style—namely, that informal housing in the US is geographically uneven, largely hidden and typically interwoven within formal markets. We conclude with a discussion of how research on informal housing in the US can inform research in the global South. 相似文献
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Hilary Silver 《International journal of urban and regional research》2002,26(1):188-190
Books reviewed in this article: Gamm, Gerald, Urban Exodus: why the Jews left Boston and the Catholics stayed Pattillo‐McCoy, Mary, Black picket fences: privilege and peril among the black middle class 相似文献
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This paper presents new estimates of scale economies for US hospitals. We show that the common translog specification of hospital costs is a misspecification, and employ nonparametric, local linear estimation with both continuous and discrete covariates. A bootstrap method is used to provide inferences regarding ray scale economies and expansion path scale economies for a large sample of hospitals covering 1984–1996. We find evidence of changes in the structure of hospital costs over the sample period, as well as evidence of locally optimal hospital sizes. Copyright © 2004 John Wiley & Sons, Ltd. 相似文献
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Karl Pearson's Influence in the United States 总被引:1,自引:1,他引:0
David R. Bellhouse 《Revue internationale de statistique》2009,77(1):51-63
Karl Pearson, the founder of mathematical statistics, was the leading statistical researcher from the 1890s up to about 1920. His interests were wide-ranging and so his impact on statistics in the United States was also wide-ranging. Many American researchers came to University College London to study with him. Others studied his work from afar. In the United States, Pearsonian statistics first penetrated the academic landscape in biology. This was soon followed by the fields of economics and psychology. It was not until relatively late in Pearson's career that several American mathematicians took up statistics as a serious research topic. 相似文献
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