| 1. |
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| 2. |
- Andrén, Daniela, 1968-
(författare)
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’Never on a Sunday’ : Economic incentives and short-term sick leave in Sweden
- 2005
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Ingår i: Applied Economics. - : Routledge. - 0003-6846 .- 1466-4283. ; 37:3, s. 327-338
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Tidskriftsartikel (refereegranskat)abstract
- Using a longitudinal data for about 1800 persons observed between 1986 and 1991, this study investigates the incentive effects on short-term sickness spells of two important regime changes in the social insurance system in Sweden implemented in 1987 and 1991. The results indicate that the rules influenced people’s decisions about when to report the beginning and ending of sickness spells. The 1991 reform, which reduced the replacement rate, had a stronger effect on reducing the duration of short-term absences than the 1987 reform, which restricted the payment of sickness cash benefit to only scheduled workdays.
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| 3. |
- Andrén, Thomas, 1967, et al.
(författare)
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Assessing the Employment Effects of Vocational Training Using a One-factor Model
- 2006
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Ingår i: Applied Economics. - : Informa UK Limited. ; 38:21, s. 2469-2486
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Tidskriftsartikel (refereegranskat)abstract
- Matching estimators use observed variables to adjust for differences between groups to eliminate sample selection bias. When minimum relevant information is not available, matching estimates are biased. If access to data on usually unobserved factors that determine the selection process is unavailable, other estimators should be used. This study advocates the one-factor control function estimator that allows for unobserved heterogeneity with factor-loading technique. Treatment effects of vocational training in Sweden are estimated with mean and distributional parameters, and then compared with matching estimates. The results indicate that unobservables slightly increase the treatment effect for those treated.
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| 4. |
- Arai, Mahmood, 1955-, et al.
(författare)
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Microdata Evidence on Rent Sharing
- 2009
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 41:23, s. 2965-2976
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Tidskriftsartikel (refereegranskat)abstract
- We examine the effect of firm profits on wages for individual workers while focusing on the empirical complications associated with estimating the extent of rent-sharing. Controlling for worker and firm fixed-effects and using several instruments to deal with the endogeneity of profits, we report results indicating that Ordinary Least Square (OLS)-estimates strongly underestimate the effects of profits on wages. Moreover, the effect of profits on wages are estimated separately for firms with increasing and decreasing profits within a given time period. We find a positive and stable effect only in firms with increasing profits. This is in line with the idea that falling profits do not lead to wage cuts while increasing profits imply higher wages.
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| 5. |
- Bali Swain, Ranjula
(författare)
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The Demand and Supply of Credit for households
- 2007
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 39:21, s. 2681-2692
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Tidskriftsartikel (refereegranskat)abstract
- The demand and supply of credit in the rural credit markets is investigated in this article using household data from India. The aim is to study the effects of household, farm productive characteristics and the policy variables on the demand and supply of credit. A type 3 Tobit model is estimated which corrects for sample selection and endogeniety bias. In addition, a generalized Double Hurdle model is estimated where the information on the household's access to credit is included to estimate the demand and supply of credit. The results suggest that the size of the operational holdings, net-wealth, dependency ratio, educational level of the household and the wages and output prices are important determinants of the demand and supply of credit for farm households. The Double Hurdle model confirms that the 'size of land owned' plays a crucial role in whether the household has access to a loan or not.
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| 6. |
- Binner, Jane M., et al.
(författare)
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A comparison of linear forecasting models and neural networks: an application to Euro inflation and Euro Divisia
- 2005
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Ingår i: Applied Economics. - : Informa UK Limited. - 1466-4283 .- 0003-6846. ; 37:6, s. 665-680
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Tidskriftsartikel (refereegranskat)abstract
- Linear models reach their limitations in applications with nonlinearities in the data. In this paper new empirical evidence is provided on the relative Euro inflation forecasting performance of linear and non-linear models. The well established and widely used univariate ARIMA and multivariate VAR models are used as linear forecasting models whereas neural networks (NN) are used as non-linear forecasting models. It is endeavoured to keep the level of subjectivity in the NN building process to a minimum in an attempt to exploit the full potentials of the NN. It is also investigated whether the historically poor performance of the theoretically superior measure of the monetary services flow, Divisia, relative to the traditional Simple Sum measure could be attributed to a certain extent to the evaluation of these indices within a linear framework. Results obtained suggest that non-linear models provide better within-sample and out-of-sample forecasts and linear models are simply a subset of them. The Divisia index also outperforms the Simple Sum index when evaluated in a non-linear framework.
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| 7. |
- Bitzer, Juergen, et al.
(författare)
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A Schumpeter-inspired Approach to the Construction of R&D Capital Stocks
- 2007
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Ingår i: Applied Economics. - : Routledge. - 0003-6846 .- 1466-4283. ; 39:2, s. 179-189
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Tidskriftsartikel (refereegranskat)abstract
- A new method for constructing R&D capital stocks is proposed and tested. Following Schumpeter, the development of R&D capital stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing R&D capital stocks but also, by displacing old knowledge, to destroy part of that capital. This is in stark contrast to the perpetual inventory method, which postulates a constant rate of depreciation. We compare both methods by estimating the impact of R&D and spillovers on output of 9 industries in 12 OECD countries, and find that the new approach leads to more sensible and robust results.
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| 8. |
- Bjellerup, Mårten, et al.
(författare)
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A simple multivariate test for asymmetry
- 2009
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Ingår i: Applied Economics. - : Taylor&Francis. - 0003-6846 .- 1466-4283. ; 41:11, s. 1405-1416
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Tidskriftsartikel (refereegranskat)
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| 9. |
- Eek, Daniel, et al.
(författare)
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What determines peoples decisions whether or not to report sick?
- 2005
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Ingår i: Applied economics. - : Routledge. - 0003-6846 .- 1466-4283. ; 37:5, s. 533-543
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Tidskriftsartikel (refereegranskat)abstract
- Swedish employees who are temporarily absent from work are compensated for the loss of income from the governmentally regulated sickness insurance. During the 1990s, when the societal costs for covering sickness absence raised dramati-cally, the sickness insurance underwent several changes, which raised questions about how people reacted to the changes made. This article is based on a survey where individuals were asked several questions about whether they would go to work or report sick, given that they actually felt ill. Respondents were asked the same questions under different hypothetical compensations. The results indi-cated strong effects of factors related to the financial loss of being absent on the propensity to report sick.
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| 10. |
- Engström, Per, et al.
(författare)
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Tax evasion and self-employment in a high-tax country : Evidence from Sweden
- 2009
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 41:19, s. 2419-2430
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Tidskriftsartikel (refereegranskat)abstract
- Self-employed individuals have arguably greater opportunities than wage earners to underreport their incomes. This article uses recent Swedish income and expenditure data to examine the extent of underreporting of income among self-employed individuals. A key hypothesis is that underreporting of incomes among the self-employed would be visible in the data as 'excess food consumption', for a given level of observed income. Our results confirm the underreporting hypothesis. In particular, we estimate that households with at least one self-employed member underreport their total incomes by around 30%. Under-reporting appears to be much more prevalent among self-employed people with unincorporated businesses as among those with incorporated businesses.
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| 11. |
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| 12. |
- Hacker, R Scott, et al.
(författare)
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Tests for Causality between Integrated Variables Using Asymptotic and Bootstrap Distributions : Theory and Application
- 2006
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 38:13, s. 1489-1500
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Tidskriftsartikel (refereegranskat)abstract
- Causality tests in the Granger's sense are increasingly applied in empirical research. Since the unit root revolution in time-series analysis, several modifications of tests for causality have been introduced in the literature. One of the recent developments is the Toda-Yamamoto modified Wald (MWALD) test, which is attractive due to its simple application, its absence of pre-testing distortions, and its basis on a standard asymptotical distribution irrespective of the number of unit roots and the cointegrating properties of the data. This study investigates the size properties of the MWALD test and finds that in small sample sizes this test performs poorly on those properties when using its asymptotical distribution, the chi-square. It is suggested that use be made of a leveraged bootstrap distribution to lower the size distortions. Monte Carlo simulation results show that an MWALD test based on a bootstrap distribution has much smaller size distortions than corresponding cases when the asymptotic distribution is used. These results hold for different sample sizes, integration orders, and error term processes (homoscedastic or ARCH). This new method is applied to the testing of the efficient market hypothesis
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| 13. |
- Hacker, R Scott, et al.
(författare)
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The Effect of Regime Shifts on the Long-Run Relationships for Swedish Money Demand
- 2005
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 37:15, s. 1731-1736
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Tidskriftsartikel (refereegranskat)abstract
- When the possibility of an unknown structural break is allowed and it is taken into account we find a significant long-run relationship between Swedish money demand and its determinants that is not found when no break is considered. The estimated elasticities show that money demand is more responsive to its determinants in the period after the break than before. Possible underlying reasons for the occurrence of this break and its implications are explained.
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| 14. |
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| 15. |
- Hatemi-J, Abdulnasser, et al.
(författare)
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Can the LR Test Be Helpful in Choosing the Otpimal Lag Order in the VAR Model When Information Criteria Suggest Different Lag Orders?
- 2009
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 41:9, s. 1121-1125
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Tidskriftsartikel (refereegranskat)abstract
- The objective of this simulation study is to investigate whether the likelihood ratio (LR) test can pick the optimal lag order in the vector autoregressive model when the most applied information criteria (i.e. vector Schwarz--Bayesian, SBC and vector Hannan-Quinn, HQC) suggest two different lag orders. This lag-choosing procedure has been suggested by Hatemi-J (1999). The results based on the Monte Carlo simulations show that combining the LR test with SBC and HQC causes a substantial increase in the success rate of choosing the optimal lag order compared to cases when only SBC or HQC are used. This appears to be the case irrespective of homoscedasticity or conditional heteroscedasticity properties of the error-term in small sample sizes. This improvement in choosing the right lag order also tends to improve the forecasting capability of the underlying model.
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| 16. |
- Hatemi-J, Abdulnasser, et al.
(författare)
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The Response of Industry Employment to Exchange Rate Shocks : evidence from panel cointegration
- 2006
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Ingår i: Applied Economics. - : Routledge. - 0003-6846 .- 1466-4283. ; 38:4, s. 415-421
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Tidskriftsartikel (refereegranskat)abstract
- This study investigates the long-run relationship between employment and exchange rate shocks at the industry level for France. Using panel unit roots and panel cointegration analysis, it is found that the French industries are quite sensitive to exchange rate changes. The estimated long-run elasticities reveal that exchange rates do influence industry employment in the expected way, that is, real appreciations are associated with decline in manufacturing for all industries in the sample
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| 17. |
- Jönsson, Kristian
(författare)
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Time-specific disturbances and cross-sectional dependency in a small-sample heterogeneous panel data unit root test
- 2006
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Ingår i: Applied Economics. - : Informa UK Limited. - 1466-4283 .- 0003-6846. ; 38:11, s. 1309-1317
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Tidskriftsartikel (refereegranskat)abstract
- In their seminal work, Im et al. (1997, 2003) suggested that time series for several cross-sectional units could be used to increase the power of the Dickey-Fuller unit root test. They argued that when cross-sectional correlation is a problem that can be modelled by a time-specific factor, demeaning across the cross-sectional units can solve the problem. In this study, this proposition is proven valid, but it is also shown that previously supplied standardizing moments are inappropriate when the number of cross-sections are small, causing size to differ from the significance level. To correct this size distortion, the current paper supplies response surface parameters that can be used to obtain moments that are valid when a time-specific factor suffices for modelling cross-sectional correlation in the heterogeneous panel data unit root framework. The correct size of the panel data unit root test comes at the cost of a somewhat lower power against a stationary alternative.
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| 18. |
- Lindahl, Lena
(författare)
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Do birth order and family size matter for intergenerational income mobility? Evidence from Sweden
- 2008
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 40:17, s. 2239-2257
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Tidskriftsartikel (refereegranskat)abstract
- Previous studies of intergenerational income mobility have not considered potential birth-order or family-size effects in the estimated income elasticity. This article uses a large sample of individuals born between 1962 and 1964; income elasticities with respect to parents’ incomes are estimated for individuals with different birth-order positions and family sizes. Results based on labour income and total income for sons and daughters are reported separately. The elasticity tends to decrease with family size as well as with birth order for a given family size, especially in the labour-income analysis of fathers and sons.
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| 19. |
- Manda, Damiano Kulundu, et al.
(författare)
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Trade Union Membership and Earnings in Kenyan Manufacturing Firms
- 2005
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 37, s. 1693-1704
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Tidskriftsartikel (refereegranskat)abstract
- This study analyses the effect of trade unions on male earnings in the Kenyan manufacturing sector using a regression method, which takes into account endogeneity of the union status of workers. In contrast to earlier studies of the Kenyan labour market that report a negative effect of unions on wages, a positive effect is found. The study further shows that elite workers tend to abstain from union membership.
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| 20. |
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| 21. |
- Mantalos, Panagiotis, et al.
(författare)
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The Effect of the GARCH(1,1) on Autocorrelation Tests in Dynamic Systems of Equations
- 2005
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Ingår i: Applied Economics. - : Taylor & Francis. - 0003-6846 .- 1466-4283. ; 35:16, s. 1907-1913
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Tidskriftsartikel (refereegranskat)abstract
- Using Monte Carlo methods, the properties of systemwise generalizations of the Breusch–Godfrey test for autocorrelated errors are studied when there are some kinds of GARCH effects among the errors. The analysis, regarding the size of the test, reveals that the GARCH have considerable effects of the properties of the test regarding the size, especially in large systems of equations. The corrected LR tests, however, have been shown to perform satisfactorily in small systems when the errors are white noise or they have low GARCH effects, whilst the commonly used TR2 test behaves badly even in single equations. All tests perform badly, however, when the number of equations increases and the GARCH effect is strong. As regards the power of the test, the GARCH was not found to have any significant effects on the power properties of the test.
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| 22. |
- Tasiran, A., et al.
(författare)
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Early labour-market experiences of second-generation immigrants in Sweden
- 2007
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 39:7, s. 809-824
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Tidskriftsartikel (refereegranskat)abstract
- This article investigates second generation immigrant's early labour-market performances in Sweden. To study their labour-market success we estimate dynamic transition rate models - Cox type proportional hazards, in a competing risk framework using register based panel-data set. Our results reveal that parental resources affect not only second-generation immigrants' continuing education but also their later labour-market success. The study verifies that finding a job is difficult for second-generation immigrants and the significant unobserved-heterogeneity parameter estimate may indicate discrimination. As a whole, second-generation immigrants have worse labour-market performances compared to their native-born counterparts.
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| 23. |
- Österholm, Pär
(författare)
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A structural Bayesian VAR for model-based fan charts
- 2008
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 40:12, s. 1557-1569
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Tidskriftsartikel (refereegranskat)abstract
- Inflation forecast uncertainty is of importance for a wide range of agents in the economy, central banks in particular. Ways to describe and account for this uncertainty in a consistent manner have received increasing attention of late, in part due to the growing number of inflation-targeting central banks. This article develops a large structural VAR for the Swedish economy and estimates it in a Bayesian framework. The methodology permits not only structural interpretation and analysis but offers a natural way to formalize forecast uncertainty, as the posterior predictive density from the model has the interpretation of a fan chart.
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| 24. |
- Österholm, Pär
(författare)
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The time-series properties of Norweigan inflation and nominal interest rate
- 2009
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Ingår i: Applied Economics. - : Informa UK Limited. - 0003-6846 .- 1466-4283. ; 41:10, s. 1303-1309
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Tidskriftsartikel (refereegranskat)abstract
- This article investigates the time-series properties of Norwegian inflation and nominal interest rate using annual data from 1850 to 2004. A number of different univariate unit-root tests are employed to examine whether the time series are mean reverting or generated by unit-root processes. Results show very strong evidence in favour of mean reversion in inflation but a unit root in the nominal interest rate. This implies that there exists no long-run relationship between these two variables, a conclusion which is further supported by cointegration tests and estimated vector error correction models. The cointegration analysis also points to an important potential pitfall when using cointegration techniques on systems where some variables are stationary processes.
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