| 11. |
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| 12. |
- Flood, Lennart, 1952
(författare)
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The Structure of the Tax-system and the Estimation of Labor Supply Models
- 1998
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Using a repeated cross section for married prime age Swedish males for the years 1984, 1986 and 1988 produce drastically different labor supply elasticities. From 1984 to 1988 the Swedish tax system has reduced both tax levels and degree of progressivity, the numbers of kink-points have dropped from 18 to only 3. The numbers of individuals close to or at a kink point have a large influence on the estimated parameters, more individuals close to a kink imply larger estimated incentive effects. More kinks in the tax system imply a higher probability of finding individuals close to a kink.
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| 13. |
- Isgut, Alberto, et al.
(författare)
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Microeconomic Adjustment During Structural Reforms: The Nicaraguan Manufacturing Sector 1991-1995
- 1998
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The main rationale for the implementation of structural reforms favoring free markets is that they, through increased competition, are likely to create incentives to improve the way firms operate i.e. firm efficiency. In this study we measure and analyze total factor productivity and technical efficiency in a large sample of Nicaraguan manufacturing firms. Our analysis indicates that whereas structural reforms may be necessary conditions for the development of developing economies, their expected positive effects on sources of growth such as total factor productivity and technical efficiency could be so slow that it may be necessary to develop sufficient conditions or policy instruments for spurring economic growth in the short run.
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| 14. |
- Johansson, Anders, 1959, et al.
(författare)
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The effects of firm-specific variables and consensus forecasts data on the pricing of large Swedish firms' stocks
- 1999
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- In this essay we model the returns for 14 large Swedish firms' stocks with a conditional multifactor model with time-varying beta terms. The data are monthly and the sample period is June 1992 to August 1997. The beta terms are modelled as linear functions of predetermined firm attributes, which are taken either from published accounting data or from consensus forecast data. The main findings are that the stock exchange is not efficient with respect to the consensus information and the lagged yield spread. We also find that the lagged firm attributes are mainly associated with risk exposures. Using encompassing tests, the models based on consensus forecast data can for six firms unilaterally encompass the models based on accounting data. The reverse result holds for five firms. For most firms, the "best" models are not rejected in out-of-sample forecast tests for the period September 1997 to December 1997.
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| 15. |
- Litwin, Carol, 0
(författare)
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Trade and Income Distribution in Developing Countries
- 1998
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- This study examines the relationship between trade policy and income distribution on a cross-section of developing countries. The evidence suggests that the impact of openness on income distribution depends on the endowments of human capital. Basic education was found to be the key human capital variable determining export composition. Countries relatively well endowed with basic education tend to have higher shares of manufacturing exports and experience lower income inequality than countries with high shares of primary exports. These findings suggest that trade policies promoting manufactures should be based on expanding basic education to have the necessary poverty and inequality reducing effects.
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| 16. |
- Löfgren, Åsa, 1972, et al.
(författare)
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The Phase-Out of Leaded Gasoline in the EU: A Successful Failure?
- 1999
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The objective of this paper is to analyze in both descriptive and econometric terms the phase-out of leaded gasoline consumption in the EU countries. The phase-out process is characterized by increased consumption of unleaded gasoline. We analyze the importance of price differences, share of catalytic converters, income per capita, and country characteristics in the phase-out process. Since the expected maintenance costs of using unleaded gasoline in cars without catalytic converters compared to the use of leaded gasoline differ insignificantly according to available evidence, and consumers still use leaded gasoline even though unleaded gasoline is cheaper; we interpret this as a lack of reliable information. The results indicate that countries, which have not yet phased out leaded gasoline, should do this by either banning leaded gasoline or by increasing the tax differential between leaded and unleaded gasoline depending on the objective of the social planner.
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| 17. |
- Rolseth, Lars, 2000
(författare)
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Adjusting Stock Market Values to Exchange Rate Exposure: The Case of ASTRA, SCA and STORA.
- 1998
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Europe's two largest forest product companies SCA and STORA are located in Sweden. One of the largest firms in Sweden is ASTRA, which is a pharmaceutical company. In this paper I analyze how the variance of these firms' values and their stock returns sensitivity to exchange rates and interest rates are affected by different hedging strategies. First are new share price series constructed there gains and losses due to not undertake any hedging practices for transaction and translation exposure are realized. There after are the exposure coefficients obtained from the adjusted share price compared to the exposure coefficients obtained using the firms core share price as a dependent variable. The results show that SCA and STORA manage to reduce the exchange rate exposure significantly, but that both SCA and STORA´s stock return are still sensitive to contemporaneous changes in exchange rates. The linear multiple regression method was unable to detect any significant exchange rate exposure for ASTRA. However, the hedging of translation and transaction exposure do not necessarily imply that the variance of the firm's value is reduced.
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| 18. |
- Salas, Osvaldo, 1953
(författare)
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Technical Efficiency During Deregulation of the Urban Bus System in Sweden
- 1998
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- This paper compares the levels of technical efficiency reached by bus transport companies during the period 1989-1996, taking into account the deregulation context in which they operate. The empirical evidence reveals that there are no substantial changes in the use of inputs after the bus transport market deregulation. The efficiency measures obtained in this study show that the gap between the most and the least efficient company varied very little during the observation period. These results could be explained by the presence of homogeneity between the companies with respect to the adoption of technology and utilisation of labour and capital
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| 19. |
- Wicks, Rick, 1946, et al.
(författare)
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Used Clothes As Development Aid: The political economy of rags
- 1999
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Should Swedish used-clothes exports continue to be subsidized as development aid? Theoretical analysis and review of empirical evidence regarding effects of both commercial and charitable (subsidized) used-clothes imports in LDCs. Includes statistics on the world used-clothes trade, including 127 gross used-clothes- exporting countries and 181 importing countries in 1990 (with values, weights, average prices, and weights-per-capita), and some specifics of U.S. and Swedish imports and exports. Discussion of images of the trade in labor and popular media; trends in national trade policies and practices; NGO attitudes and involvement; similar issues with food aid; and excerpts regarding the trade in 18th century Britain. Conclusion: Greater benefits are possible for poor people with a more imaginative approach. Poor people who need clothes need many things. Used clothes can be sold and the proceeds used, along with erstwhile subsidy funds, for income-generating projects. A possible exception: if supply has broken down due to catastrophe, and clothing is not available in the market.
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