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How to Use One Instrument to Identify Two Elasticities
Gavrilova, Evelina - 2017
We show that an insight from taxation theory allows identification of both the supply and demand elasticities with only … one instrument. Ramsey (1928) and subsequent models of taxation assume that a tax levied on the demand side only affects … demand through the price after taxation. Econometrically, we show that this assumption functions as an additional exclusion …
Persistent link: https://www.econbiz.de/10012960094
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Collective Labor Supply of Native Dutch and Immigrant Households in the Netherlands
Klaveren, Chris van; van Praag, B.M.S; Maassen van den … - 2021
We estimate a collective time allocation model, where Dutch, Surinamese/Antillean and Turkish households behave as if both spouses maximize a household utility function. We assume that paid labor and housework are the endogenous choice variables and furthermore consider household production....
Persistent link: https://www.econbiz.de/10013316281
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Anticipation, Tax Avoidance, and the Price Elasticity of Gasoline Demand
Coglianese, John M. - 2016
Least-squares estimates of the response of gasoline consumption to a change in the gasoline price are biased toward zero, given the endogeneity of gasoline prices. A seemingly natural solution to this problem is to instrument for gasoline prices using gasoline taxes, but this approach tends to...
Persistent link: https://www.econbiz.de/10012996430
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Construction of Composite Business Cycle Indicators in a Sparse Data Environment
Abberger, Klaus - 2011
Business cycle indicators are important instruments for monitoring economic development. When employing indicators one usually relies on a sound statistical database. This paper deals with indicator development in a sparse data situation. Indicator building is merged with temporal...
Persistent link: https://www.econbiz.de/10013120906
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Should Transportation Output Be Included as Part of the Coincident Indicators System?
Lahiri, Kajal - 2011
With the increasing importance of the service-providing sectors, information from these sectors has become essential to the understanding of contemporary business cycles. This paper explores the usefulness of the transportation services output index (TSI) as an additional coincident indicator in...
Persistent link: https://www.econbiz.de/10013124177
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External Influence as an Indicator of Scholarly Importance
Chan, Ho Fai - 2013
The external influence of scholarly activity has to date been measured primarily in terms of publications and citations, metrics that also dominate the promotion and grant processes. Yet the array of scholarly activities visible to the outside world are far more extensive and recently developed...
Persistent link: https://www.econbiz.de/10013075968
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The Role of the Log Transformation in Forecasting Economic Variables
Luetkepohl, Helmut - 2009
For forecasting and economic analysis many variables are used in logarithms (logs). In time series analysis this transformation is often considered to stabilize the variance of a series. We investigate under which conditions taking logs is beneficial for forecasting. Forecasts based on the...
Persistent link: https://www.econbiz.de/10012764276
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Economic Growth and Judicial Independence, a Dozen Years on : Cross-Country Evidence Using an Updated Set of Indicators
Voigt, Stefan - 2014
Over 10 years ago, Feld and Voigt (2003) introduced the first indicator for objectively measuring the actual independence of the judiciary and demonstrated its utility in a large cross-section of countries. The indicator has been widely used, but also criticized. This paper presents more recent...
Persistent link: https://www.econbiz.de/10013045337
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Modeling Fluctuations in the Global Demand for Commodities
Kilian, Lutz - 2018
It is widely understood that the real price of globally traded commodities is determined by the forces of demand and … supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with …
Persistent link: https://www.econbiz.de/10012930077
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Predictive Ability of Business Cycle Indicators Under Test : A Case Study for the Euro Area Industrial Production
Carstensen, Kai; Wohlrabe, Klaus; Ziegler, Christina - 2021
In this paper we assess the information content of seven widely cited early indicators for the euro area with respect to forecasting area-wide industrial production. To this end, we use various tests that are designed to compare competing forecast models. In addition to the standard...
Persistent link: https://www.econbiz.de/10013316171