Nber Reporter
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Nber Reporter
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Author : National Bureau of Economic Research
language : en
Publisher:
Release Date : 2008
Nber Reporter written by National Bureau of Economic Research and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Economics categories.
Nber Reporter
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Author : National Bureau of Economic Research
language : en
Publisher:
Release Date : 1984
Nber Reporter written by National Bureau of Economic Research and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Economics categories.
Are Recessions Good For Your Health
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Author : Christopher J. Ruhm
language : en
Publisher:
Release Date : 1996
Are Recessions Good For Your Health written by Christopher J. Ruhm and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Employment (Economic theory) categories.
This study examines the relationship between economic conditions and health. Fixed-effect models are estimated using state level data for the 1972-1991 time period. Health is proxied by total and age- specific mortality rates, as well as by 10 particular causes of death. Total mortality and nine of the ten sources of fatalities exhibit a procyclical variation, with suicides representing the important exception. The fluctuations in mortality are larger for 20-44 year olds than for older individuals. The predicted relationship between personal incomes and health is quite weak and is sensitive to the choice of model specifications, time periods and dependent variables. These findings suggest the possible importance of cyclical variations in the time costs of medical care or healthy lifestyles and of negative health effects of job-holding.
Are Medical Prices Declining
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Author : David M. Cutler
language : en
Publisher:
Release Date : 1996
Are Medical Prices Declining written by David M. Cutler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Cost categories.
We address long-standing problems in measuring health care prices by estimating two medical care price indices. The first, a Service Price Index, prices specific medical services, as does the current CPI. The second, a Cost of Living Index, measures the net valuation of treating a health problem. We apply these indices to heart attack treatment between 1983 and 1994. Because of technological change and increasing price discounts, the current CPI overstates a chain-weighted price index by three percentage points annually. For plausible values of an additional life-year, the real Cost of Living Index fell about 1 percent annually.
Long Run Ppp May Not Hold After All
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Author : Charles Engel
language : en
Publisher:
Release Date : 1996
Long Run Ppp May Not Hold After All written by Charles Engel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Foreign exchange rates categories.
Recent tests using long data series find evidence in favor of long-run PPP (by rejecting either the null hypothesis of unit roots in real exchange rates or the null of no cointegration between nominal exchange rates and relative prices.) These tests may have reached the wrong conclusion. Monte Carlo experiments using artificial data calibrated to nominal exchange rates and disaggregated data on prices show that tests of long-run PPP have serious size biases. They may fail to detect a sizable and economically significant unit root component. For example, in the baseline case which is calibrated to actual price data, unit roots and cointegration tests with a nominal size of five percent have true sizes that range from .90 to .98 in artificial 100-year long data series, even though the unit root component accounts for 42% of the variance of the real exchange rate in sample. On the other hand, tests of stationarity are shown to have very low power in the same circumstances, so it is quite likely that a researcher would reject a unit root and fail to reject stationarity even when the series embodied a large unit root component.
Optimal Money Burning
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Author : B. Douglas Bernheim
language : en
Publisher:
Release Date : 1996
Optimal Money Burning written by B. Douglas Bernheim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Corporations categories.
We explore signaling behavior in settings with a discriminating signal and several costly nondiscriminating (money burning) activities. In settings where informed parties have many options for burning money, existing theory provides no basis for selecting one nondiscriminating activity over another. When senders have private information about the costs of these activities, each sender's indifference is resolved, the taxation of a nondiscriminating signal is Pareto improving, and the use of the taxed activity becomes more widespread as the tax rate rises. We apply this analysis to the theory of dividend signaling. The central testable implication of the model is verified empirically.
Combining Panel Data Sets With Attrition And Refreshment Samples
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Author : Keisuke Hirano
language : en
Publisher:
Release Date : 1998
Combining Panel Data Sets With Attrition And Refreshment Samples written by Keisuke Hirano and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Economics categories.
In many fields researchers wish to consider statistical models that allow for more complex relationships than can be inferred using only cross-sectional data. Panel or longitudinal data where the same units are observed repeatedly at different points in time can often provide the richer data needed for such models. Although such data allows researchers to identify more complex models than cross-sectional data, missing data problems can be more severe in panels. In particular, even units who respond in initial waves of the panel may drop out in subsequent waves, so that the subsample with complete data for all waves of the panel can be less representative of the population than the original sample. Sometimes, in the hope of mitigating the effects of attrition without losing the advantages of panel data over cross-sections, panel data sets are augmented by replacing units who have dropped out with new units randomly sampled from the original population. Following Ridder (1992), who used these replacement units to test some models for attrition, we call such additional samples refreshment samples. We explore the benefits of these samples for estimating models of attrition. We describe the manner in which the presence of refreshment samples allows the researcher to test various models for attrition in panel data, including models based on the assumption that missing data are missing at random (MAR, Rubin, 1976; Little and Rubin, 1987). The main result in the paper makes precise the extent to which refreshment samples are informative about the attrition process; a class of non-ignorable missing data models can be identified without making strong distributional or functional form assumptions if refreshment samples are available.
Appropriate Technology And Growth
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Author : Susanto Basu
language : en
Publisher:
Release Date : 1996
Appropriate Technology And Growth written by Susanto Basu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Diffusion of innovations categories.
We present a model of growth and technology transfer based on the idea that technologies are specific to particular combinations of inputs. We argue that this model is more realistic than the usual specification, in which an improvement in any technique for producing a given good improves all other techniques for producing that good. Our model implies that technology improvements will diffuse only slowly, even if there are no barriers to the flow of knowledge and no adoption costs. On the other hand, although our basic production technology is of the `Ak' variety, technology diffusion implies that countries with identical policies and different initial incomes do eventually converge to the same level of per-capita income. We argue that a model with appropriate technology and technology diffusion is more appealing, and has more realistic predictions for long-run convergence and growth, than either the standard neoclassical model or simple endogenous-growth models.
Towards A Political Economic Theory Of Domestic Debt
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Author : Allan Drazen
language : en
Publisher:
Release Date : 1997
Towards A Political Economic Theory Of Domestic Debt written by Allan Drazen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Debts, External categories.
A political-economic model of the composition of government debt, that is, whether it is issued to domestic or foreign holders, is presented. The key determinant will be the political constraints on repudiation of foreign and domestic debt, which will determine the nature of the domestic political equilibrium. Economic and political factors determine the effective cost of borrowing at home or abroad, and with the ability to segment markets the government acts like a discriminating monopsonist in placing its debt. A country that expects to face a low effective foreign interest rate, reflecting the expectation that it won't be forced to repay its foreign debts in full, will be characterized by high government spending, a high government budget deficit, low domestic saving and thus a high trade balance deficit so that the domestic economy will look mismanaged in terms of a number of macroeconomic indicators. Very lenient foreign assistance programs would have the same effect.
Empirical Patterns Of Firm Growth And R D Investment
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Author : Tor Jakob Klette
language : en
Publisher:
Release Date : 1997
Empirical Patterns Of Firm Growth And R D Investment written by Tor Jakob Klette and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with High technology industries categories.
We present a model of endogenous firm growth with R & D investment and innovation as the engine of growth. The objective of our analysis is to present a framework that can be used for microeconometric analysis of firm performance in high-tech industries. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the discrete choice models of product differentiation. We examine to what extent the assumptions and the empirical content of our model are consistent with the findings that have emerged from empirical studies of growth, productivity, R & D and patenting at the firm level. The analysis shows that the model fits well empirical patterns such as (i) a skewed size distribution of firms with persistent differences in firm sizes, (ii) firm growth (roughly) independent of firm size (the so-called Gibrat's law) and (iii) R & D investment proportional to sales, as well as a number of other empirical patterns.