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作者：Campbell, JY
作者单位：Harvard University
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作者：Viscusi, WK; Hersch, J
作者单位：Harvard University
摘要：Using a large data set, the authors find that smokers select riskier jobs, but receive lower total wage compensation for risk than do nonsmokers. This finding is inconsistent with conventional models of compensating differentials. The authors develop a model in which worker risk preferences and job safety performance lead to smokers facing a flatter market offer curve than nonsmokers. The empirical results support the theoretical model. Smokers are injured more often controlling for their job'...
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作者：Snyder, CM; Trost, RP; Trunkey, RD
作者单位：George Washington University
摘要：In a privatization competition, private contractors bid against an in-house team to perform a governmental function that is currently performed by the in-house team. The Department of Defense initiated 3,500 privatization competitions from 1978 to 1994, generating estimated annual savings of $1.46 billion. We estimate a reduced-form model of the savings from these competitions that takes into account the premature cancellation of some competitions and the censoring of the in-house bid at curre...
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作者：Black, SE; Lynch, LM
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Tufts University; National Bureau of Economic Research
摘要：Using data from a unique nationally representative, sample of businesses, we examine the impact of workplace practices, information technology, and human capital investments on productivity. We estimate an augmented Cobb-Douglas production function with both cross section and panel data covering the period of 1987-1993, using both within and GMM estimators. We find that it is not whether an employer adopts a particular work practice but rather how that work practice is actually implemented wit...
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作者：Dionne, G; Gagné, R
作者单位：Universite de Montreal; HEC Montreal; Universite de Montreal
摘要：Insurance fraud is now recognized as a significant resource-allocation problem in many markets. The object of this study is to verify how straight deductible contracts may affect the equilibrium level of falsification in automobile insurance. This type of contract is observed in many markets, even if it is not optimal under costly state falsification. A higher deductible may create incentives to fraud or cheat, particularly when the insured anticipates that the claim has a small probability of...
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作者：Holtz-Eakin, D; Phillips, JWR; Rosen, HS
作者单位：Syracuse University; University of Pennsylvania; Princeton University
摘要：Critics argue that the estate tax prevents the owners of family businesses from passing their enterprises to heirs because it is difficult to pay estate taxes without liquidating the business. Why don't owners purchase enough life insurance to meet their estate tax liabilities? We examine whether and how people use life insurance to deaf with the estate tax. We find that, ceteris paribus, business owners purchase more life insurance than do other individuals. However, on the margin, their insu...
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作者：Bollerslev, T; Wright, JH
作者单位：Duke University; National Bureau of Economic Research; Federal Reserve System - USA
摘要：Although it is clear that the volatility of asset returns is serially correlated, there is no general agreement as to the most appropriate parametric model for characterizing this temporal dependence, In this paper. we propose a simple way of modeling financial market volatility using high-frequency data. The method avoids using a tight parametric model by instead simply fitting a long autoregression to log-squared, squared, or absolute high-frequency returns. This can either be estimated by t...
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作者：Thurman, WN; Fox, EJ; Bingham, TH
作者单位：North Carolina State University; Research Triangle Institute
摘要：Economic effects of public policy alternatives often are analyzed with simulation models. The value of simulation is enhanced when model parameters can credibly be estimated econometrically. But unrestricted estimation can be expected to result in problematic estimates, for example, estimated parameters contrary in sign to what economic theory dictates. The information contract curve (ICC), developed by Learner, provides a flexible means to impose regularity on estimated parameters at minimum-...
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作者：Goux, D; Maurin, E
作者单位：Japan Science & Technology Agency (JST)
摘要：The decline in the unskilled share of French employment is chiefly due to the slackness of domestic demand for those industries with the highest proportion of unskilled workers. The spread of computers has not been particularly conducive to substitution between skilled and unskilled labor. We test and accept the hypothesis of technical-progress neutrality within French industries. The mechanisms that generate inequality do not appear to be the same in France and in the United States. The sourc...
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作者：Baltagi, BH; Griffin, JM; Xiong, WW
作者单位：Texas A&M University System; Texas A&M University College Station
摘要：This paper reexamines the benefits of pooling and, in addition, contrasts the performance of newly proposed heterogeneous estimators. The analysis utilizes a panel data set from 46 American states over the period 1963 to 1992 and a dynamic demand specification for cigarettes. Also, the forecast performance of the various estimators is compared.
