-
作者：Nadiri, MI; Nandi, B
作者单位：New York University; National Bureau of Economic Research; AT&T
摘要：This paper examines the sources of productivity growth for the U.S. telecommunications industry from 1935 to 1987. These years encompass both the pre- and post-AT&T divestiture periods. We formulate a structural model that accounts for both changes in the cost and the demand side of the industry. We measure the contributions of aggregate demand, information intensity of the economy, price-cost margins, relative factor prices, direct and indirect effects of technological progress, and R&D inves...
-
作者：Kakwani, NC; Lambert, PJ
作者单位：University of New South Wales Sydney; University of York - UK
摘要：We propose a procedure for measuring the effect of systematic discrimination in the income tax. Different socioeconomic groups are assumed to face different tax schedules. We show that a welfare loss is caused by the group specificity of schedules, the dollar value of which is our measure of discrimination. Defining vertical equity as the dollar value of the tax system's welfare superiority over an equal yield flat tax, discrimination equates to a loss in vertical equity. The Australian income...
-
作者：Beaulieu, J; Mattey, J
作者单位：Federal Reserve System - USA; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：This study investigates the dispersion of price levels within highly disaggregated markets by examining plant-level product records from the U. S. Census of Manufactures. The paper estimates the effects of inflation on price dispersion through cross-sectional variation in the drift rate of average input costs within a market, arguing that, in several models that relate inflation to price dispersion, the effects of cost increases on dispersion is similar to the effects of general inflation. We ...
-
作者：Troske, KR
作者单位：University of Missouri System; University of Missouri Columbia
摘要：In spite of the large and growing importance of the employer size-wage premium, previous attempts to account for this premium using observable worker or employer characteristics have had limited success. The problem is that, while most theoretical explanations for the size-wage premium are based on the matching of employers and employees, previous empirical work has relied on either worker surveys with little information about the employer, or establishment surveys with little information abou...
-
作者：Verbrugge, RJ
作者单位：Virginia Polytechnic Institute & State University
摘要：This paper reexamines the evidence relating core inflation to cross-sectional inflation asymmetry using statistical measures that are robust to the criticism of Bryan and Cecchetti. The results here suggest that there does exist significant positive correlation between core inflation and cross-sectional inflation asymmetry, but only at the monthly frequency. Furthermore, a sampling problem is highlighted which underscores the importance of careful Monte Carlo analysis when exact small-sample d...
-
作者：Buchinsky, M; Hunt, J
作者单位：Brown University; National Bureau of Economic Research; Yale University
摘要：This paper examines the mobility of individuals through the wage and earnings distributions, using 1979-1991 data from the National Longitudinal Survey of Youth. Lifetime wages will be more equally distributed than wages from any single year if individuals change position in the wage distribution over time. The results suggest that mobility is predominantly within group mobility, reducing wage inequality by 12%-26% over a four-year horizon. A detailed examination of within-group mobility, usin...
-
作者：Diebold, FX; Hahn, JY; Tay, AS
作者单位：New York University; University of Pennsylvania; National Bureau of Economic Research; University of Michigan System; University of Michigan; National University of Singapore
摘要：We provide a framework for evaluating and improving multivariate density forecasts. Among other things, the multivariate framework lets us evaluate the adequacy of density forecasts involving cross-variable interactions, such as time-varying conditional correlations. We also provide conditions under which a technique of density forecast calibration can be used to improve deficient density forecasts, and we show how the calibration method can be used to generate good density forecasts from econ...
-
作者：Kandel, E; Zilberfarb, BZ
作者单位：Hebrew University of Jerusalem; Bar Ilan University
摘要：We test the hypothesis associated with a standard assumption in the theoretical literature on learning: that economic agents interpret information identically. We use a data set based on a survey of Israeli business executives forecasting future inflation. One of the main advantages of using this data is that a major change in the inflation regime in 1985 can be treated as a natural experiment in new beliefs formation. We develop a methodology for testing this hypothesis and find evidence that...
-
作者：Auten, G; Carroll, R
作者单位：United States Department of the Treasury
摘要：Research on the distribution of income during the 1980s has identified a trend towards increasing inequality, which may be the continuation and acceleration of trends spanning several decades. This paper explores to what extent behavioral responses to the tax changes during the 1980s may also explain the rising inequality. The 1986 Tax Reform Act is used as a natural experiment to explore the roles played by both taxes and a variety of nontax factors. Our principal finding is that both tax rat...
-
作者：Adams, JD
作者单位：State University System of Florida; University of Florida; National Bureau of Economic Research
摘要：This paper explores the effect of research and development (R&D) and capital on factor intensity and skill bias in a sample of manufacturing plants. Firm and industry R&D as well as plant level capital increase the factor intensity of labor over materials. In contrast, skill bias originates in portions of capital and R&D. Equipment capital and firm R&D in the same product as a plant are consistently skill biased, while structures are biased against skill. Furthermore, general firm and industry...
