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Estimating Welfare Indices: Household Weights and Sample Design

Autonomous Organization of the (International) Scientific Community Would Simplify Data Protection in the Social Sciences and Encourage Reanalysis

In den Sozial- und Wirtschaftswissenschaften besteht ohne die Moeglichkeit einer Re-Analyse von statistischen Ergebnissen (gleichermaßen amtlichen wie nicht-amtlichen) die Gefahr von nicht entdeckten Irrtuemern. Mit anderen Worten: Re- Analysen sind in der Wissenschaft die "Berufungsinstanz", ohne die es keine funktionierende Scientific Community geben kann. Der Schutz vor fehlerhaften wissenschaftlichen ...

Fractional Cointegration in US Term Spreads

This note examines the stochastic properties of US term spreads with parametric and semi-parametric fractional integration techniques. Since the observed data (rather than the estimated residuals from a cointegrating regression) are used for the analysis, standard methods can be applied. The results indicate that US Treasury maturity rates are I(1) in most cases, although the order of integration decreases ...

Entwicklung eines allgemeinen Gleichgewichtsmodells zur Analyse preispolitischer Maßnahmen im Verkehr

Zur Verbesserung der Umweltbilanz der Verkehrsträger oder auch zur Finanzierung von Straßeninfrastruktur werden verschiedene preispolitische Maßnahmen wie zum Beispiel die CO2-Steuer oder die Pkw-Maut diskutiert. Um ex-ante-Bewertung von Maßnahmen durchführen zu können, sind geeignete Instrumente der Wirkungsanalyse erforderlich. Gegenstand dieses Artikels ist die Beschreibung eines allgemeinen Gleichgewichtsmodells, ...

Does Accounting for Spatial Effects Help Forecasting the Growth of Chinese Provinces?

In this paper, we make multi-step forecasts of the annual growth rates of the real GRP for each of the 31 Chinese provinces simultaneously. Beside the usual panel data models, we use panel models that explicitly account for spatial dependence between the GRP growth rates. In addition, the possibility of spatial effects being different for different groups of provinces (Interior and Coast) is allowed. ...

Measuring Inequality Using Censored Data: A Multiple Imputation Approach

To measure income inequality with right censored (topcoded) data, we propose multiple imputation for censored observations using draws from Generalized Beta of the Second Kind distributions to provide partially synthetic datasets analyzed using complete data methods. Estimation and inference uses Reiter's (Survey Methodology 2003) formulae. Using Current Population Survey (CPS) internal data, we find ...

European Regional Convergence in a Human Capital Augmented Solow Model

In this paper, the process of productivity convergence is investigated for the enlarged European Union using regional (NUTS-2) data. The Solow model extended by human capital is employed as a workhorse. Alternative strategies are proposed to control for spatial effects. All specifications confirm the presence of convergence with an annual speed between 3 and 3.5 percent towards regional steady states. ...

Private Retirement Savings in Germany: The Structure of Tax Incentives and Annuitization

The present paper studies the growth, welfare and efficiency consequences of the recent introduction of tax-favored retirement accounts in Germany in a general equilibrium overlapping generations model with idiosyncratic lifespan and labor income uncertainty. We focus on the implicit differential taxation of specific savings motives, the mandatory annuitization of benefits and the impact of special ...

Self-Selection and Subjective Well-Being: Copula Models with an Application to Public and Private Sector Work

We discuss a new approach to specifying and estimating ordered probit models with endogenous switching, or with binary endogenous regressor, based on copula functions. These models provide a framework of analysis for self-selection in economic well-being equations, where assigment of regressors may be choice based, resulting from well-being maximization, rather than random. In an application to public ...

The Balassa-Samuelson Effect in Central and Eastern Europe: Myth or Reality?