| 461. |
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| 462. |
- Kaddoura, Yousef, et al.
(författare)
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Estimation of Panel Data Models with Interactive Effects and Multiple Structural Breaks When T Is Fixed
- 2021
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- In this article, we propose a new estimator of panel data models with interactive fixed effects and multiple structural breaks that is suitable when the number of time periods, T, is fixed and only the number of cross-sectional units, N, is large. This is done by viewing the determination of the breaks as a shrinkage problem, and to estimate both the regression coefficients, and the number of breaks and their locations by applying a version of the Lasso approach. We show that with probability approaching one the approach can correctly determine the number of breaks and the dates of these breaks, and that the estimator of the regime-specific regression coefficients is consistent and asymptotically normal. We also provide Monte Carlo results suggesting that the approach performs very well in small samples, and empirical results suggesting that the coefficients of the deterrence model of crime are not constant as typically assumed but subject to structural change.
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| 463. |
- Kahsay, Goytom Abraha, et al.
(författare)
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Pay-What-You-Want Pricing Schemes: A Self-Image Perspective
- 2014
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Pay-What-You-Want (PWYW) pricing schemes are becoming increasingly popular in a wide range of industries. We develop a model incorporating self-image into the buyer's utility function and introduce heterogeneity in consumption utility and image-sensitivity, which generates different purchase decisions and optimal prices across individuals. When a good is sold at a fixed price higher than a threshold value, a price that the individual thinks is fair, the adoption of PWYW increases his utility and hence results in a weakly higher purchase rate. When a good is sold at a fixed price lower than this threshold, however, PWYW can lead to a lower utility. This may result in a lower purchase rate and higher average price, in line with previously unexplained evidence from field experiments. Moreover, an increase in the threshold value decreases the buyer's utility and may further lower the purchase rate, possibly resulting in a further increase in purchase price. Using simple assumptions of quadratic self-image function and uniformly distributed individual preferences, we investigate the conditions under which PWYW yields higher total welfare.
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| 464. |
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| 465. |
- Kenny, Sean
(författare)
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Public Debt Episodes in Irish Economic History 1950-2015
- 2016
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- In this paper I study the public debt dynamics of three episodes (the crises of the 1950s, the 1980s and 2010-15) in Ireland’s modern economic history. By using traditional debt dynamic decomposition formulae, I measure the components which contributed most to public debt ratio reduction following previous high debt episodes. I also employ the case of Sweden for comparative purposes, in how it emerged from the increase in public debt in the aftermath of its banking crisis 1991-1993. The key findings which emerge are 1) the reduction of the public ratio following the 1980s episode was predominantly driven by cumulative primary surpluses, though a favourable growth and interest rate differential emerged as the key determinant in the late 1990s. Additionally, public debt in the 1980s was considerably more difficult to service in terms of tax revenues and maturity structures than the current event. 2) Public debt continued to increase following the crisis of the 1950s due to higher interest rates and lower inflation, despite a recovery in growth and fiscal contraction. 3) In line with other research isolating the uniqueness of open economy debt reductions, I find that though Sweden (like Ireland) reduced public debt in an environment of strong international growth, it did so in a macroeconomic environment of higher interest rates and falling inflation, entirely through budget surplus accumulation.
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| 466. |
- Khalid, Usman
(författare)
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Why Trading with Dictators May Nevertheless Help the People: On the Interplay between Trade, Political Regimes and Economic Institutions
- 2015
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Recent empirical studies confirm a positive relationship between trade liberalization or trade openness and the quality of domestic economic institutions. An isolated analysis of trade openness per se, however, may grossly simplify the mechanisms at work, as the linkage between open trade and quality of economic institutions is likely to vary for different political regimes. This study examines the causal relationship between trade openness and quality of economic institutions under different political institutions. We find that in the presence of extractive political institutions, the effect of trade openness on economic institutions is reduced significantly.
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| 467. |
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| 468. |
- Kilman, Josefin
(författare)
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Monetary Policy Shocks for Sweden
- 2022
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This paper estimates monetary policy shocks for Sweden between 1996-2019. I employ the Romer and Romer (2004) (R&R) approach and use annual forecasts of output growth and inflation to estimate monetary policy shocks. I complement the analysis with shocks from a recursive VAR including output, prices, and the repo rate, as well as a set of high-frequency shocks. A comparison of the three sets of shocks shows that the R&R and VAR shocks are similar, while the high-frequency shocks are fewer and smaller in size. Local projections show expected impulse responses on most economic variables, regardless of data frequency, but responses to the recursive VAR shocks are more in line with textbook findings compared to responses to the R&R and high-frequency shocks. Overall, results are robust to alternative model specifications and lag lengths in local projections.
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| 469. |
- Kjellsson, Gustav
(författare)
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Extending Decomposition Analysis to Account for Socioeconomic Background: Income-Related Smoking Inequality among Swedish Women
- 2014
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This article suggests an extension of the standard decomposition of the concentration index that allows for an exploration of the pathways through which socioeconomic background relates to income-related health inequality. This novel approach is contrasted to the standard one using a panel of Swedish women in Statistics Sweden’s Survey of Living Conditions for one vital health-related behavior, smoking. The decomposition uses an underlying model that considers both individual heterogeneity and smoking persistence, showing that the largest contributions to the pro-rich smoking inequality come from years of schooling and living in a single household. The contribution from socioeconomic background is close to negligible when using the standard approach. Once applying the suggested extension, socioeconomic background contributes indirectly to the inequality, primarily through an increase in years of schooling. These results highlight the potential importance of using this extension, especially for distinguishing between circumstances that individuals may affect themselves and these that are out of their control, which may be important for policy design.
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| 470. |
- Knutsson, Polina
(författare)
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Lasting Effects of an Import Shock: Channels of Adjustment
- 2020
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This paper exploits a quasi-natural experiment to study the channels of labor market adjustment to an import shock. Using matched employer-employee data from Sweden, I study workers' adjustment after the removal of quotas set out by the Multi-Fiber Arrangement for Chinese producers upon China's entry into the WTO. I find evidence of substantial losses in terms of earnings and employment. Sectoral mobility mitigates a portion of these losses, but gives rise to substantial adjustment frictions. The largest losses accrue to workers with skills specific to the exposed industry. Some losses are recovered through mobility across labor markets, but only workers in high-skill occupations benefit from this channel. I also show that skill specificity of the local labor market is an important determinant of adjustment and provide evidence of skill upgrading in response to the import shock.
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