{"title":"Industry Wages Across Countries and Over Time: A New Database of Micro Survey Data","authors":"Van-Ha Le, J. de Haan, E. Dietzenbacher","doi":"10.1111/roiw.12264","DOIUrl":"https://doi.org/10.1111/roiw.12264","url":null,"abstract":"This paper presents a newly collected database on industry wages. The underlying data are micro datasets collected through nationally representative household surveys which are mostly conducted by national statistical agencies. In comparison with wage measures based on macroeconomic data sources, we find that industry wages based on micro survey data are more reliable. Furthermore, data from nationally representative micro surveys are becoming increasingly available, thus allowing for better coverage, especially of low-income countries. The database provides a reliable source of data for research on inter-industry wage structures and gender wage differentials, across countries and over time. It may also serve as a basis for further research on the determinants and implications of inter-industry and gender wage variations.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"471 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116792202","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Economics of Data: Implications for the Data-Driven Economy","authors":"Dan Ciuriak","doi":"10.2139/ssrn.3118022","DOIUrl":"https://doi.org/10.2139/ssrn.3118022","url":null,"abstract":"The economics of the emerging data-driven economy can be situated in theoretical models of endogenous growth which introduce research and development, human capital formation, and Schumpeterian creative destruction as drivers of economic growth, together with positive externalities related to local knowledge spillovers. This theoretical framework allows for differential rates of growth in different countries based on their policies to support innovation and for innovation to generate market power and monopoly rents. However, the data-driven economy has several structural features that make it at least a special case of the general endogenous growth model, if not a new model altogether. These include pervasive information asymmetry, the industrialization of learning through artificial intelligence, the proliferation of superstar firms due to \"winner take most\" market dynamics, new forms of trade and exchange, the value of which is not captured by traditional economic accounting systems, and systemic risks due to vulnerabilities in the information infrastructure. This note explores these issues.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122398856","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Poverty from Space: Using High-Resolution Satellite Imagery for Estimating Economic Well-Being","authors":"R. Engstrom, J. Hersh, David Newhouse","doi":"10.1596/1813-9450-8284","DOIUrl":"https://doi.org/10.1596/1813-9450-8284","url":null,"abstract":"Can features extracted from high spatial resolution satellite imagery accurately estimate poverty and economic well-being? This paper investigates this question by extracting object and texture features from satellite images of Sri Lanka, which are used to estimate poverty rates and average log consumption for 1,291 administrative units (Grama Niladhari divisions). The features that were extracted include the number and density of buildings, prevalence of shadows, number of cars, density and length of roads, type of agriculture, roof material, and a suite of texture and spectral features calculated using a nonoverlapping box approach. A simple linear regression model, using only these inputs as explanatory variables, explains nearly 60 percent of poverty headcount rates and average log consumption. In comparison, models built using night-time lights explain only 15 percent of the variation in poverty or income. The predictions remain accurate when restricting the sample to poorer Gram Niladhari divisions. Two sample applications, extrapolating predictions into adjacent areas and estimating local area poverty using an artificially reduced census, confirm the out-of-sample predictive capabilities.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127116586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Taking Stock: A Rigorous Modelling of Animal Spirits in Macroeconomics","authors":"R. Franke, F. Westerhoff","doi":"10.1111/joes.12219","DOIUrl":"https://doi.org/10.1111/joes.12219","url":null,"abstract":"This paper is a survey of the burgeoning literature that seeks to take the enigmatic concept of the animal spirits more seriously by building heterodox macro†dynamic models that can capture some of its crucial aspects in a rigorous way. Two approaches are considered: the discrete choice and the transition probability approach, where individual agents face a binary decision and choose one of them with a certain probability. These assessments are adjusted upward or downward in response to what the agents observe, which leads to changes in the aggregate sentiment and the macroeconomic variables resulting from the corresponding decisions. Typical applications of the two approaches alternatively give rise to what will be called a weak and a strong form of animal spirits. On the whole, the literature included in this survey provides examples of applications of a modelling tool that demonstrates a considerable flexibility within a canonical framework.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125433087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Management Information, Decision Sciences, and Financial Economics: A Connection","authors":"Chia‐Lin Chang, M. McAleer, W. Wong","doi":"10.2139/ssrn.3103807","DOIUrl":"https://doi.org/10.2139/ssrn.3103807","url":null,"abstract":"The paper provides a brief review of the connecting literature in management information, decision sciences, and financial economics, and discusses some research that is related to the three cognate disciplines. Academics could develop theoretical models and subsequent econometric models to estimate the parameters in the associated models, and analyse some interesting issues in the three related disciplines.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"132 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114231964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Open Data in Developing Economies: Toward Building an Evidence Base on What Works and How","authors":"S. Verhulst, Andrew Young","doi":"10.47622/9781928331599","DOIUrl":"https://doi.org/10.47622/9781928331599","url":null,"abstract":"In essence, the book seeks to answer the following key questions: • What makes open data uniquely relevant to developing economies? • How can the impact of open data in developing economies be captured and evidence be developed? • How can open data be leveraged as a new asset for development? Toward that end the book begins, in Part I, by providing examining the use of open data for development. This includes a brief assessment on the theories and narratives of open data in development; a change theory and a logic model to capture and develop evidence on open data in developing economies; and an examination of open data’s impacts across various development sectors. In Part II, we present the 12 open data in developing countries case studies, organized according to the four different types of open data impacts. The book concludes in Part III with a set of key takeaways and recommendations for aid organizations, governments, private sector entities, and others that are considering replicating or using open data as an asset for development.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121593319","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Dorota Węziak‐Białowolska, E. McNeely, T. VanderWeele
{"title":"Flourish Index and Secure Flourish Index – Development and Validation","authors":"Dorota Węziak‐Białowolska, E. McNeely, T. VanderWeele","doi":"10.2139/ssrn.3145336","DOIUrl":"https://doi.org/10.2139/ssrn.3145336","url":null,"abstract":"The purpose of this paper was to investigate psychometric properties of the newly proposed Flourish Index (FI) and Secure Flourish Index (SFI). Data were obtained from the Health and Well-Being Survey – conducted in June and July 2017, with responses from 4210 residents of North Carolina, USA. \u0000Exploratory and confirmatory factor models were used. An exploratory approach was used to investigate item groupings. Confirmatory factor models were used to investigate the hierarchical structure of the indices, level of common variance and percent of uncontaminated correlations. The coefficient of omega hierarchical was computed to establish uni-dimensionality and reliability of the indices. Configural, metric and scalar measurement invariance were examined to provide evidence on the universality of the indices. Convergent validity and discriminant validity were assessed. \u0000This study provided support that FI and SFI can be used in empirical research. Our results confirmed groupings of items into domains of flourishing as well hierarchical structure of both indices. With application of the factor analytical framework support for their uni-dimensionality was found. The analysis revealed that scores derived from FI and SFI primarily reflected a single common source, flourishing and secure flourishing, respectively, implying legitimate use of raw scores (average or sum) for their measurement. Both indices demonstrated convergent and discriminant validity. Evidence was also found that both instruments were measurement invariant.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123634021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jason Acimovic, Francisco Erize, K. Hu, Douglas J. Thomas, Jan A. Van Mieghem
{"title":"Product Life Cycle Data-Set: Raw and Cleaned Data of Weekly Orders for Personal Computers","authors":"Jason Acimovic, Francisco Erize, K. Hu, Douglas J. Thomas, Jan A. Van Mieghem","doi":"10.2139/ssrn.3042681","DOIUrl":"https://doi.org/10.2139/ssrn.3042681","url":null,"abstract":"We provide and describe a data set of N=8935 weekly, normalized customer orders over the entire product life cycle for 170 Dell computer products sold in North America over a three and a half year period, from 2013-2016. Total orders for these products exceeded 4 million units and well over a billion dollars in revenue. While Dell is historically known for fulfilling customer demand with a build to-order approach, the products in this data set were designated as build-to-stock products. There are three elements in the data that, depending on the research application, researchers may want to identify or mitigate. First, some products have seemingly anomalous orders representing one-time purchases from large customers. Second, there are negative values for some products representing order cancellations. Third, end-of-life sales may be significantly influenced by management action. We present approaches for cleaning the data to address these issues.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128310673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Empirics of the Municipal Fiscal Adjustment","authors":"M. Martín-Rodríguez, Hikaru Ogawa","doi":"10.1111/joes.12179","DOIUrl":"https://doi.org/10.1111/joes.12179","url":null,"abstract":"We summarize the literature that uses the vector error-correction model approach to analyze the dynamics of the municipal fiscal adjustment. The international comparison between samples collected from entire countries and specific regions reveals interesting similarities, but also remarkable differences. The main similarities are the fulfillment of the intertemporal budget constraint, the volatility of the budgetary components, and the importance of the intergovernmental transfers as an adjustment instrument. The most remarkable difference is the preponderant role of the own revenues in the USA, probably reflecting the larger fiscal autonomy of US municipalities. In most cases, the large municipalities seem to be more dependent on grants than their small counterparts, although this pattern is broken in Japan. Finally, partial evidence supporting the existence of moral hazard problems and the flypaper effect is provided.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"86 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131829743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Trouble with Approximating Industry Concentration from Compustat","authors":"Jan Keil","doi":"10.2139/ssrn.2879035","DOIUrl":"https://doi.org/10.2139/ssrn.2879035","url":null,"abstract":"Using Compustat to measure industry concentration in the U.S. is problematic. Popular approximations of the Herfindahl Index based on this data set have a vanishingly low correlation with the more comprehensive Census measure. As a result, major variables of interest in corporate finance show markedly different correlations with these indicators, which can lead to a breakdown of regression results.","PeriodicalId":433005,"journal":{"name":"Econometrics: Data Collection & Data Estimation Methodology eJournal","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134186158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}