-
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...
-
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.
-
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...
-
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...
-
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...
-
作者：YANG, YY; HWANG, M
作者单位：University of California System; University of California Berkeley
摘要：This paper investigates pricing behavior in Korean manufacturing. The two questions investigated are (1) whether price behavior in the two markets are distinctly different in the pass-through of exchange rate into export and domestic prices, and (2) If so, the subsequent question is whether observed differences in the price behavior can be explained by the price discrimination hypothesis. Using data from six manufacturing sectors for the period 1976-1990, we find that Korean manufacturing firm...
-
作者：TAUCHEN, H; WITTE, AD; GRIESINGER, H
作者单位：University of North Carolina; University of North Carolina Chapel Hill; State University System of Florida; Florida International University; Wellesley College; National Bureau of Economic Research
摘要：We estimate the general deterrent effect of criminal justice resources on criminal behavior using panel data for a sample representative of young men in U.S. urban areas. Our data, which combine individual-level information on arrests and personal characteristics with aggregate information on criminal justice resources, allow us to obtain deterrence measures that reflect theoretical concepts and are of potential policy relevance. We find robust evidence of a general deterrent effect flowing fr...
