Empirical Economics
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Allocation and the earnings function
Empirical Economics - Tập 11 - Trang 97-110 - 1986
This paper stresses the view that earnings differentials should be interpreted in the light of allocation in the labor market. A model is developed that acknowledges the difference between individual levels of characteristics and the levels of such characteristics required in the job. It is applied to data sets for the Netherlands, with education as the most important variable. Neither the individ......
Atheoretical and structural approaches to modelling Canadian-American macroeconomic interaction
Empirical Economics - Tập 15 - Trang 367-382 - 1990
Much recent work on Canadian-American macroeconomic interaction utilizes the vector autoregression methodology advocated by Sims (1980). Examples include Burbidge and Harrison (1985), Kusczak and Murray (1986) and Ambler (1988). The Sims' methodology is severely criticized by Cooley and Leroy (1985) and Leamer (1985) because, as it is generally implemented and interpreted, including in the studies......
Using spectral analysis and multinomial logit regression to explain households’ choice patterns
Empirical Economics - Tập 44 - Trang 739-760 - 2012
Many methods are available to analyze rank-ordered data. We used spectral analysis to identify the most preferred option of Formosan subterranean termites (FSTs) control as ranked by Louisiana homeowners. Respondents were asked to rank four termite control methods from the most preferred option to the least preferred option. Spectral analysis of complete ranked data indicated that the most preferr......
Three variants of the Whalley model of global trade
Empirical Economics - Tập 16 - Trang 121-137 - 1991
This paper documents the economic structure, functional forms, and aggregation details of three variants of Whalley's computable general equilibrium model of global trade.
Evaluating the state of competition and the welfare losses in the Greek manufacturing sector: an extended Hall–Roeger approach
Empirical Economics - Tập 50 - Trang 1275-1302 - 2015
This paper extends the Hall–Roeger methodology in order to investigate the market structure and to measure the degree of market power in the Greek manufacturing sector over the period 1984–2007 as a whole and by subsector at the two-digit SIC level. The present paper also estimates the net and the total welfare losses in these market power scenarios. The bootstrap method is applied to assign measu......
Pregibit: a family of binary choice models
Empirical Economics - Tập 50 - Trang 901-932 - 2015
The pregibit binary choice model is built on a distribution that allows symmetry or asymmetry and thick tails, thin tails, or no tails. Thus, the model is much more flexible than the traditional binary choice models: pregibit nests logit, approximately nests probit, loglog, cloglog, and gosset models and incorporates the linear probability model. Greater flexibility allows a more accurate estimati......
Demand systems with heteroscedastic disturbances
Empirical Economics - Tập 58 - Trang 1913-1921 - 2018
We address the estimation of singular demand systems with heteroscedastic disturbances. We relax the homoscedasticity assumption and instead assume that the covariance matrix of the errors of the demand system is time varying. In doing so, we consider the VECH and BEKK parameterizations of the variance model. We analytically prove the invariance of the maximum likelihood estimator with respect to ......
The wage effects of subsidized career breaks
Empirical Economics - Tập 47 Số 2 - Trang 593-617 - 2014
Joint estimation of the Lerner index and cost efficiency using copula methods
Empirical Economics - Tập 54 - Trang 799-822 - 2017
This paper deals with the estimation of market power, measured by the Lerner index, and cost efficiency at the bank level, using the stochastic frontier (SF) methodology. Both market power and cost efficiency are estimated jointly in a single step. We use the copula method to incorporate dependence between market power and cost efficiency. In contrast to earlier works that used a two-step approach......
Finance–growth nexus: does causality withstand financial liberalization? Evidence from cointegrated VAR
Empirical Economics - Tập 41 - Trang 127-154 - 2010
The main finding of the paper is that, contrary to Rousseau and Wachtel (Economic growth and financial depth. Is the relationship extinct already? UNU-Wider discussion paper no. 2005/10, 2005), a long-run equilibrium relationship between financial and economic development is identified with data up to 2006—well over the financial openness boom of the nineties—in countries whose history is characte......
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