Showing papers in "Economics Letters in 1996"

TL;DR: In this paper, a non-parametric productivity measure that explicitly incorporates intermediate products is proposed, which is based on the Productivity Index (PII) and employs a nonparametric approach to measure productivity.

TL;DR: This article replicated Andreoni's public goods experiments and found that the results were consistent with simple learning, but are compatible with strategies, unlike the original experiment, which is consistent with the results of simple learning.

TL;DR: In this paper, the authors make a simple modification to the basic model, which clearly disentangles taste for variety and market power, and show how this changes the usual comparisons between social optimum and market outcomes.

TL;DR: This article used a panel unit root test to jointly test for a unit root in a group of OECD real exchange rates for the recent floating experience and showed that the test is able to reject the null hypothesis of unit root.

TL;DR: In this paper, the authors demonstrate three effects of domestic production subsidies in a mixed oligopoly industry regarding privatization and efficiency, and show that if subsidies are used before and after privatization, welfare is unchanged by privatization.

TL;DR: In this article, fixed effects estimations with German data obtain the result that unemployment significantly lowers overall satisfaction with life, and the results differ for men and women and are consistent with estimates of labor supply elasticities.

TL;DR: In this article, the authors characterize the optimal auction when bidders have (common knowledge) financial constraints and show that the optimal can be implemented by an all-pay auction with the proper reserve price.

TL;DR: In this paper, a unified framework for testing for complementarity through reduced-form regressions is provided, where the authors show that many cases it is important to know whether choice variables for a decision maker are mutual complements, but a structural model cannot be estimated.

TL;DR: In this paper, the authors present an experiment on voluntary contributions to a public good, where the game has a dominant strategy solution in the interior of the strategy space, and they observe significant over-contribution.

TL;DR: In this paper, the authors test for long-term dependence in US stock returns, analyzing composite and sectoral stock indices and firms' returns series to evaluate aggregation effects, finding that fractal dynamics are not detected in stock indices but are present in some firms' return series.

TL;DR: Cointegration and Granger-causality tests show that real exports and real GDP in Mexico over 1895-1992 were cointegrated and there was a significant and positive Granger causality relationship running from exports to economic growth as mentioned in this paper.

TL;DR: In this article, the authors warn about the incorrect use of the popular Jarque-Berg test for normality of residuals in the case of small and medium-size samples.

TL;DR: In this article, the relationship between firms' endowments in intangible proprietary assets and their export performance was investigated and the impact of investments in foreign production capacity on exports was taken into account in the empirical analysis.

TL;DR: In this paper, the authors extend the work of Thaler and Johnson on prior gains and losses in a business context and find that prior gains shift behavior towards risk seeking, while prior losses do not, however, offer evidence of prior losses shifting behaviour towards risk aversion.

TL;DR: In this article, the authors provide necessary conditions for testing the local consistency of nested logit models with stochastic utility maximization, and a graphical analysis illustrates the extent to which these conditions extend the range of admissible dissimilarity coefficients beyond the unit interval.

TL;DR: This paper showed that all-pay auctions dominate first-price sealed-bid auctions when bidders face budget constraints, which is explained by the fact that budget constraints bind less frequently in the allpay auctions, which leads to more aggressive bidding in that format.

TL;DR: The authors showed that concern for individual consumption relative to per capita consumption can induce a fear of falling behind, which increases precautionary savings, and this fear intensifies as societal income growth increases, allowing for a positive effect of growth on savings rates.

TL;DR: In this paper, the authors test for the sustainability of the current account deficits in the United States and Canada over the 1973-1994 period using various unit root and cointegration tests, some of which allow for structural changes.

TL;DR: In this paper, the authors extended economic growth studies to account for simultaneity between economic growth and human capital accumulation and showed that the speed of income convergence and contribution of human capital to economic growth are underestimated if contemporaneous human capital growth effects are ignored.

TL;DR: This article used household-level panel data to unpack a regional growth regression for rural China and found that aggregate divergence at the regional level is entirely due to external effects of community wealth at the household level.

TL;DR: In this article, the Malmquist productivity index was shown to equal the Hicks-Moorsteen index in terms of the ratio of distance functions, which was attributed to Hicks and Moorsteen.

TL;DR: The authors showed that the Dagum and the Singh-Maddala income distributions are closely related, and exploited this relationship to derive Lorenz ordering results for the Daghum distributions from known results of the Singh Maddala family.

TL;DR: For example, the authors found that women are less frequently employed in jobs that offer promotion possibilities than men, while men are not less likely to be promoted to another job within the firm.

TL;DR: Two versions of the nested logit discrete choice model are linked to representative consumer theory as mentioned in this paper, and they are used in this paper as a starting point for a discussion of consumer choice.

TL;DR: This article examined the US wage curve using longitudinal micro data and found that hourly wages are less responsive to local unemployment than annual earnings, but are sensitive to inclusion of regional and/or personal fixed effects.

TL;DR: In this paper, the authors show that if children inherit life standard aspirations from their parents, then their savings are affected and cycles may appear in overlapping generations (OLG) models with production.

TL;DR: In this paper, the authors present new evidence on the effect of technological activity on the post-entry performance of firms by comparing firm survival across technical and non-technical products and over stages of differing technological activity.

TL;DR: A new procedure for causality testing using non-parametric additive models that can be applied if the underlying data generation process is either linear or non-linear.

TL;DR: This article showed that an increased foreign capital inflow into a protected sector is generally immiserizing and showed that if the protected sector produces an intermediate input, positive welfare effects may emerge.

TL;DR: This article used a matched panel of firms and workers to describe worker and job flows, and found that job flows are not synonymous with worker flows and that older and larger firms have systematically lower rates of job creation and destruction, as well as of worker separations.