发布求助
文献互助 智能选刊 最新文献

Empirical Economics最新文献

筛选
英文 中文
Endogeneity-corrected stochastic frontier with market imperfections 具有市场缺陷的内生性校正随机前沿
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-27 DOI: 10.1007/s00181-024-02577-0
{"title":"Endogeneity-corrected stochastic frontier with market imperfections","authors":"","doi":"10.1007/s00181-024-02577-0","DOIUrl":"https://doi.org/10.1007/s00181-024-02577-0","url":null,"abstract":"<h3>Abstract</h3> <p>While the product and labour market imperfections reveal efficiency losses, they may influence technology adoption and its change, raising the endogeneity issue of productivity and efficiency estimates. Using a two-step approach, this work offers the endogeneity-corrected stochastic frontier for such a contemporaneous relation and accounts for efficiency and productivity losses due to market imperfections. A modified frontier function, defined as the residue per capital unit, has been drawn from the Cobb–Douglas function to estimate the terms containing the product and labour market imperfections along with other factors capturing the levels of technology, scale and technical efficiency. First, a standard frontier panel model estimates technology and technical efficiency terms with a proxy function in polynomials of market imperfection terms used for the contemporaneous relation, and then a GMM approach applies to the residue to estimate the parameters containing market imperfections. The estimated results using the three-digit industries across 17 major Indian states for 2008–2016 reveal a strong presence of product and labour market imperfections and associated efficiency losses. The efficiency in the product market has been lower and has further deteriorated in most industries, but not in the labour market.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"3 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140324051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Institutions and carbon emissions: an investigation employing STIRPAT and machine learning methods 机构与碳排放：采用 STIRPAT 和机器学习方法进行的调查
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-24 DOI: 10.1007/s00181-024-02579-y
{"title":"Institutions and carbon emissions: an investigation employing STIRPAT and machine learning methods","authors":"","doi":"10.1007/s00181-024-02579-y","DOIUrl":"https://doi.org/10.1007/s00181-024-02579-y","url":null,"abstract":"<h3>Abstract</h3> <p>We employ an extended Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) model combined with the environmental Kuznets curve and machine learning algorithms, including ridge and lasso regression, to investigate the impact of institutions on carbon emissions in a sample of 22 European Union countries over 2002 to 2020. Splitting the sample into two: those with weak and strong institutions, we find that the results differ between the two groups. Our results suggest that changes in institutional quality have a limited impact on carbon emissions. Government effectiveness leads to an increase in emissions in the European Union countries with stronger institutions, whereas voice and accountability lead to a fall in emissions. In the group with weaker institutions, political stability and the control of corruption reduce carbon emissions. Our findings indicate that variables such as population density, urbanization and energy consumption are more important determinants of carbon emissions in the European Union compared to institutional governance. The results suggest the need for coordinated and consistent policies that are aligned with climate targets for the European Union as a whole.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"18 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140300684","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Educational choice, initial wage and wage growth 教育选择、初始工资和工资增长
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-21 DOI: 10.1007/s00181-024-02580-5
Hans van Ophem, Jacopo Mazza
{"title":"Educational choice, initial wage and wage growth","authors":"Hans van Ophem, Jacopo Mazza","doi":"10.1007/s00181-024-02580-5","DOIUrl":"https://doi.org/10.1007/s00181-024-02580-5","url":null,"abstract":"<p>We study the effects of expected initial wages, expected wage growth, and observed and unobserved heterogeneity in the choice of college major in a sample of American college graduates. We propose a three-stage empirical model that relates future earnings to individual choices. In the first stage, starting from revealed choices, observed wages, and life-cycle wage profiles, we estimate the expectation on initial wages and wage growth from the individual point of view, where the panel structure of the data allows us to produce estimates corrected for self-selection bias. We find substantial differences in expected real wages and expected real wage growth between majors and that both characteristics of life cycle earnings influence major choice. Our parametric models show a strong correlation between salary trends and major choice, whereas semiparametric models yield less reliable results. We interpret our results as being consistent with agents being rational and as a validation for our estimation strategy based on counterfactual imputation.\u0000</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"961 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140204719","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Indirect estimation of the monthly transport turnover indicator in Italy 意大利每月运输周转量指标的间接估算
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-19 DOI: 10.1007/s00181-024-02571-6
Barbara Guardabascio, Filippo Moauro, Luke Mosley
{"title":"Indirect estimation of the monthly transport turnover indicator in Italy","authors":"Barbara Guardabascio, Filippo Moauro, Luke Mosley","doi":"10.1007/s00181-024-02571-6","DOIUrl":"https://doi.org/10.1007/s00181-024-02571-6","url":null,"abstract":"<p>The paper discusses the results of a selection of a set of monthly indicators to be used as predictors of the quarterly index of Italian service turnover. A mixed frequency approach based on sparse temporal disaggregation is used, which outperforms the classical methods of the Chow and Lin family, allowing both a high number of regressors by the LASSO method and stable estimates. The application refers to the turnover in transport, a sector strongly affected in 2020 by the dramatic movements due to the COVID-19 pandemic and the resurgence of inflation at the end of 2021. The monthly indicators are selected from 143 time series: 56 series of business surveys in transport about both the climate and frequency of the answers; 18 series from Assaeroporti about both passengers and cargo flights split by national and international routes; 69 series of monthly turnover in industry split by both sector of economic activity and reference market. The sample spans the months from January 2010 to December 2021 for both seasonally adjusted and unadjusted data. Several aspects of the estimation are considered: the stability of selected indicators over the quarters 2017–2021; their forecasting performance; the reliability of the estimates in terms of their monthly pattern.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"147 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140169021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Reasons for college major-job mismatch and subsequent job mobility and earnings growth 大学专业与工作不匹配的原因以及随后的工作流动性和收入增长
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-19 DOI: 10.1007/s00181-024-02578-z
Shengjun Jiang
{"title":"Reasons for college major-job mismatch and subsequent job mobility and earnings growth","authors":"Shengjun Jiang","doi":"10.1007/s00181-024-02578-z","DOIUrl":"https://doi.org/10.1007/s00181-024-02578-z","url":null,"abstract":"<p>This study examines the heterogeneity in job mobility and earnings growth among workers who were mismatched in their previous jobs due to different reasons. Mismatched is defined as working in jobs that are not related to the highest degree field. Using a panel dataset derived from the National Survey of College Graduates, I find that workers who were previously mismatched due to the unavailability of jobs in related fields (demand-mismatched) are more likely to make complex moves, i.e., changing both employer and job title, and experience higher earnings growth relative to their matched counterparts. The earnings growth among previously matched workers and workers who were mismatched due to other reasons, such as a change in career interests (supply-mismatched), is generally not significantly different. However, supply-mismatched workers encounter negative earnings growth after making simple moves, i.e., changing only employer. Further, heterogeneous earnings growth patterns are found among mismatched workers in different stages of career and between female and male mismatched workers.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"31 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140204805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Global liquidity spillovers in the Asia–Pacific region: policy-driven versus market-driven effects 亚太地区的全球流动性溢出效应：政策驱动效应与市场驱动效应
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-15 DOI: 10.1007/s00181-024-02573-4
Chau Le, Huyen Nguyen, Duc Vo
{"title":"Global liquidity spillovers in the Asia–Pacific region: policy-driven versus market-driven effects","authors":"Chau Le, Huyen Nguyen, Duc Vo","doi":"10.1007/s00181-024-02573-4","DOIUrl":"https://doi.org/10.1007/s00181-024-02573-4","url":null,"abstract":"<p>This research investigates the spillovers of global liquidity to Asia–Pacific countries, focusing on the contradictory effects of policy-driven liquidity created by monetary stances in advanced economies and market-driven liquidity generated by the private banking sector. Our findings stand in sharp contrast to previous studies, showing that shifts in macro-financial indicators in Asia–Pacific economies are predominantly influenced by market-driven shocks rather than those of policy-driven liquidity. Specifically, liquidity shocks associated with surges in cross-border credit flows, especially those denominated in US dollars, drive up asset prices and have boosting effects on inflation and economic output. A positive shock to market liquidity also results in an appreciation pressure on domestic currencies and a short-term rise in interest rates. However, excess liquidity shocks caused by the Bank of Japan’s adjustments in shadow short rates and balance sheets have a negative effect on inflation and bring about temporary depreciation pressure on Asian currencies. Surprisingly, we find that Asian responses to financial easing associated with the Fed’s monetary policy change are not well-pronounced.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"31 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140148916","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A joint test of predictability and structural break in predictive regressions 预测性回归中的可预测性和结构断裂联合检验
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-05 DOI: 10.1007/s00181-024-02572-5
{"title":"A joint test of predictability and structural break in predictive regressions","authors":"","doi":"10.1007/s00181-024-02572-5","DOIUrl":"https://doi.org/10.1007/s00181-024-02572-5","url":null,"abstract":"<h3>Abstract</h3> <p>This paper explores a joint test of predictability and one-time structural break, both of which are assumed to be absent under the null hypothesis. The test combines IVX estimator with a sup-Wald-type statistic. The limiting distribution of the test statistic is expected to be non-pivotal under (near-)integration. Nevertheless, for univariate cases, the distribution is highly insensitive to the variation of unestimable nuisance parameter. We hence propose to use critical values from the pivotal distribution derived under stationarity for empirical study. Simulation results suggest that this approach delivers satisfactory and robust inference in finite sample. An empirical application to the predictability of US stock returns is provided.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"35 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140035705","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A real-time regional accounts database for Germany with applications to GDP revisions and nowcasting 德国实时地区账户数据库，应用于国内生产总值修正和预测
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-05 DOI: 10.1007/s00181-024-02566-3
{"title":"A real-time regional accounts database for Germany with applications to GDP revisions and nowcasting","authors":"","doi":"10.1007/s00181-024-02566-3","DOIUrl":"https://doi.org/10.1007/s00181-024-02566-3","url":null,"abstract":"<h3>Abstract</h3> <p>Accurate real-time macroeconomic data are essential for policy-making and economic nowcasting. The rising interest in analyses at the sub-national level cannot be served as such data are currently not available. In this paper, I introduce a real-time database for German regional economic accounts. The database contains real-time information for nine macroeconomic aggregates and the 16 German states. I conduct both a revision analysis and a nowcasting experiment for real gross domestic product. By pooling the states together, the first official estimates show no systematic revision errors. The pooling, however, suppresses the revision characteristics of single states. For half of the 16 German states I find that the first estimates are no optimal predictions, thus, leaving room for improvements in the future. The real-time nowcasts for real gross domestic product growth based on a mixed-frequency vector autoregression are very accurate and beat several benchmark models. More regional data would help to better inform the model, thereby increasing its nowcast performance even further.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"32 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140035824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Evidence of non-fundamentalness in OECD capital stocks 经合组织资本存量的非基本面证据
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-02 DOI: 10.1007/s00181-024-02564-5
Antonio Aguirre, Ignacio N. Lobato
{"title":"Evidence of non-fundamentalness in OECD capital stocks","authors":"Antonio Aguirre, Ignacio N. Lobato","doi":"10.1007/s00181-024-02564-5","DOIUrl":"https://doi.org/10.1007/s00181-024-02564-5","url":null,"abstract":"<p>This note examines evidence of non-fundamentalness in the rate of variation of annual per capita capital stock for OECD countries in the period 1955–2020. Leeper et al. (2013) proposed a theoretical model in which, due to agents performing fiscal foresight, this economic series could exhibit a non-fundamental behavior (in particular, a non-invertible moving average component), which has important implications for modeling and forecasting. Using the methodology proposed in Velasco and Lobato (2018), which delivers consistent estimators of the autoregressive and moving average parameters without imposing fundamentalness assumptions, we empirically examine whether the capital data are better represented with an invertible or a non-invertible moving average model. We find strong evidence in favor of the non-invertible representation since for the countries that present significant innovation asymmetry, the selected model is predominantly non-invertible.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"259 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140016987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Improved inference for interactive fixed effects model under cross-sectional dependence 横截面依赖性下互动固定效应模型的改进推断
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-02 DOI: 10.1007/s00181-024-02569-0
Zhenhao Gong, Min Seong Kim
{"title":"Improved inference for interactive fixed effects model under cross-sectional dependence","authors":"Zhenhao Gong, Min Seong Kim","doi":"10.1007/s00181-024-02569-0","DOIUrl":"https://doi.org/10.1007/s00181-024-02569-0","url":null,"abstract":"<p>This paper proposes an inference procedure for the interactive fixed effects model that is valid in the presence of cross-sectional dependence. When the error terms are cross-sectionally dependent, the least square (LS) estimator of this model is asymptotically biased and therefore the associated confidence interval tends to have a large coverage error. To address this, we propose a bias correction of the LS estimator and a cross-sectional dependence robust variance estimator to construct associated test statistics. The paper also discusses practical issues in implementing the proposed method, including the construction of distance that reflects the decaying pattern of cross-sectional dependence and the selection of the bandwidth parameters. Monte Carlo simulations show our procedure works well in finite samples. As empirical illustrations, we apply our procedure to study the effect of divorce law reforms on divorce rates and the impact of clean water and sewerage interventions on child mortality.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"22 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140016992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信
小红书