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61.
62.
Astrid Doerry 《保险科学杂志》1982,71(3-4):649-654
63.
Astrid Mathiassen 《Review of Income and Wealth》2013,59(1):91-112
This paper examines the performance of a method of predicting poverty rates. Because most developing countries cannot justify the expense of frequent household budget surveys, additional low‐cost methods have been developed and used. The prediction method is based on a model linking the proportion of poor households to suitable explanatory variables (consumption proxies). These consumption proxies are variables that can be collected at much lower cost through smaller annual surveys. Several applications have shown that such models can produce poverty estimates with confidence intervals of a similar magnitude to the poverty estimates from the household budget surveys. There is, however, limited evidence of how well the methods perform out‐of‐sample. A series of seven household budget surveys conducted in Uganda in the period 1993–2005 allows us to test the prediction performance of the model. We test the poverty models by using data from one survey to predict the proportion of poor households in other surveys, and vice versa. The results are encouraging, as all models predict similar poverty trends. Although in most cases the predictions are precise, sometimes they differ significantly from the poverty level estimated from the survey directly. 相似文献
64.
Equity rights offerings are the predominant SEO flotation method in many European and Asian countries. Several previous studies focus on rights offerings, but these studies often measure solely the announcement effects of these offerings and pay little attention to the discount. This study seeks to close this gap, explain the discounts on such rights offerings, and determine the drivers of offering discounts with a focus on cultural effects regarding the level of uncertainty avoidance. Based on the existing literature, we develop several hypotheses and find supporting evidence for these hypotheses in our data. Our main finding is that the most important factors for explaining the discount on an equity rights offer are the level of uncertainty avoidance, the quality of a firm, and the level of uncertainty about firm value. 相似文献
65.
Astrid Würtz Rasmussen 《Labour economics》2010,17(1):91-100
Investments in children are generally seen as investments in the future economy. In this study I focus on time investments in children as I investigate the long-term educational effects on children of increasing parents' birth-related leave from 14 to 20 weeks using a natural experiment from 1984 in Denmark. The causal effect of the reform is identified using regression discontinuity design to compare a population sample of children born shortly before and shortly after the reform took effect. Results indicate that increasing parents' access to birth-related leave has no measurable effect on children's long-term educational outcomes. Mothers' incomes and career opportunities are slightly positively affected by the reform. 相似文献
66.
This paper estimates a structural demand model for commercial bank deposit services in order to measure the effects on consumers given dramatic changes in bank services throughout US branching deregulation in the 1990s. Following the discrete choice literature, consumer decisions are based on prices and bank characteristics. Consumers are found to respond to deposit rates, and to a lesser extent, to account fees, in choosing a depository institution. Moreover, consumers respond favorably to the branch staffing and geographic density, as well as to the bank’s age, size, and geographic diversification. Consumers in most markets experience a slight increase in welfare throughout the period. 相似文献
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68.
Christian von Hirschhausen Astrid Cullmann Andreas Kappeler 《Applied economics》2013,45(21):2553-2566
This study applies non-parametric and parametric tests to assess the efficiency of electricity distribution companies in Germany. Traditional issues in electricity sector benchmarking are addressed, such as the role of scale effects and optimal utility size, as well as new evidence specific to the situation in Germany. Labour, capital, and peak load capacity are used as inputs, and units sold and the number of customers as output. The data cover 307 (out of 553) German electricity distribution utilities. A data envelopment analysis (DEA) is applied with constant returns to scale (CRS) as the main productivity analysis technique, whereas stochastic frontier analysis (SFA) with distance function is the verification method. The results suggest that returns to scale play but a minor role; only very small utilities have a significant cost advantage. Low customer density is found to affect the efficiency score significantly, in particular in the lower third of all observations. Surprisingly, East German utilities feature a higher average efficiency than their West German counterparts. The correlation tests imply a high coherence of the results. 相似文献
69.
Benchmarking and firm heterogeneity: a latent class analysis for German electricity distribution companies 总被引:1,自引:1,他引:0
Astrid Cullmann 《Empirical Economics》2012,42(1):147-169
In January 2009, the German Federal Network Agency introduced incentive regulation for the electricity distribution sector
based on results obtained from econometric and nonparametric benchmarking analysis. One main problem for the regulator in
assigning the relative efficiency scores is unobserved firm-specific factors such as network and technological differences.
Comparing the efficiency of different firms usually assumes that they operate under the same production technology, thus unobserved
factors might be inappropriately understood as inefficiency. To avoid this type of misspecification in regulatory practice,
estimation is carried out in two stages: in the first stage observations are classified into two categories according to the
size of the network operators. Then separate analyses are conducted for each subgroup. This article shows how to disentangle
the heterogeneity from inefficiency in one step, using a latent class model for stochastic frontiers. As the classification
is not based on a priori sample separation criteria it delivers more robust, statistically significant, and testable results.
Against this background, we analyze the level of technical efficiency of different subgroups from a sample of 200 regional
and local German electricity distribution companies for a balanced panel data set (2001–2005). Testing the hypothesis if larger
distributors operate under a different technology than smaller ones, we assess if a single step latent class model provides
new insights to the use of benchmarking approaches within the incentive regulation schemes. 相似文献
70.