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作者：Feenstra, RC
作者单位：National Bureau of Economic Research
摘要：Using the marginal value of characteristics, we show how to construct bounds on the exact hedonic price index. When prices are above marginal costs then our bounds still apply, but the value of characteristics cannot be measured so easily from a hedonic regression. Since the price-cost markups are an omitted variable, they will bias the coefficients obtained. For a special class of utility functions, we argue that a linear regression will still provide a measure of the marginal value of charac...
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作者：BALTAGI, BH; GRIFFIN, JM
摘要：This paper estimates a dynamic demand model for liquor in the United States using panel data from 43 states. Because of taste changes over time and between states in liquor consumption, purely time series or cross sectional studies do not elicit reliable price elasticity estimates. This study makes the case for pooling and shows how one can control for individual state effects and endogeneity of the regressors using estimators suited for a dynamic demand model. Our results indicate that the lo...
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作者：DAGENAIS, MG; DUFOUR, JM
摘要：To facilitate ML estimation for Box-Cox models, several authors have suggested dividing the dependent variable by its sample geometric mean. This paper points out previously unmentioned drawbacks of this ''rescalling.'' First, the ''rescaled'' model is not actually equivalent to the untransformed one, so that the procedure involves more than a unit change. Second, there is no clear interpretation of the parameters after such rescaling. We suggest an interpretation but find that the usual formu...
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作者：GOULD, DM
摘要：Immigrants' ties to their home countries can play a key role in fostering bilateral trade linkages. Immigrant ties include knowledge of home-country markets, language, preferences, and business contacts that have the potential to decrease trading transaction costs. Empirical results for the United States suggest that immigrant links have historically been important in increasing bilateral trade flows with immigrants' home countries.
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作者：PRUSA, TJ; SCHMITZ, JA
作者单位：National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：This paper identifies a number of patterns in the sales of products within firms and over time in the PC software industry. For example, we find that a firm's initial product tends to be its most successful. There is also some indication that a firm's initial product sells better than its second, its second better than its third, and so on. We sketch some simple models consistent with these results.
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作者：BEGHIN, JC; KHERALLAH, M
作者单位：North Carolina State University; Organisation for Economic Co-operation & Development (OECD)
摘要：This paper analyzes the influence of political systems and rights in patterns of agricultural protection across commodities, countries and over time. Four political systems and a qualitative index of political rights account for differences in political institutions. The analysis incorporates the effects of development, of constraints on tax collection feasibility, and of comparative advantages and terms of trade. Pluralistic systems are associated with higher agricultural protection levels, a...
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作者：BISHOP, JA; FORMBY, JP; THISTLE, PD
作者单位：University of Alabama System; Western Michigan University
摘要：Regional income distributions are analyzed and tested for convergence and divergence in the 1970s. The methodology is the same as that recently used to show the almost complete convergence of the South and Non-South. This paper disaggregates the Non-South into major regions consisting of the West, Midwest and Northeast. Tests for rank dominance reveal surprising results. Income distributions in the major regions of the Non-South were equivalent in 1969, and the South was uniformly dominated. F...
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作者：GOLAN, A; JUDGE, G; ROBINSON, S
作者单位：University of California System; University of California Berkeley
摘要：The problem of recovering the entries of a large matrix of expenditure, trade or income flows from limited-incomplete multisectoral economic data is considered. Making use of some consistency and adding up restrictions, the problem is cast as a pure inverse problem and specified within a nonlinear optimization framework. Estimates of the unknown entries are provided along with an overall measure of uncertainty for the complete matrix and a measure of uncertainty for the individual elements. Ar...
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作者：MANCHESTER, J; MCKIBBIN, WJ
作者单位：Congressional Budget Office; Australian National University; Brookings Institution
摘要：This paper used a general equilibrium framework to examine the macroeconomic consequences of the recent failures and subsequent bailout in the savings and loan industry. We distinguish between the losses in the capital stock, the economic effects of alternative methods of funding those real losses, and the intertemporal transfer of real resources implicit in backing the financial assets used. We then embed the analysis in a general equilibrium, multi-country model with intertemporal budget con...
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作者：NADIRI, MI; MAMUNEAS, TP
作者单位：National Bureau of Economic Research
摘要：In this paper we examine the effects of publicly financed infrastructure and R&D capitals on the cost structure and productivity performance of twelve two-digit U.S. manufacturing industries. The results suggest that there are significant productive effects from these two types of capital. Their effects on the cost structure vary across industries. Not only is the cost function shifted downward in each industry, generating productivity inducement, but the factor demand in each industry is also...
