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An Alternative Explanation for the Variation in Reported Estimates of Risk Aversion
variability in risk aversion estimation mean-variance estimation location scale
2012/10/22
There is a large literature estimating Arrow-Pratt coefficients of absolute and relative risk aversion. A striking feature of this literature is the very wide variation in the reported estimates of th...
Willingness to Accept Equals Willingness to Pay for Labor Market Estimates of the Value of Statistical Life
willingness to pay willingness to accept value of statistical life VSL CFOI panel data PSID
2012/10/22
Our research clarifies the conceptual linkages among willingness to pay for additional safety, willingness to accept less safety, and the value of statistical life (VSL). We present econometric estima...
Maximum Score Estimates of the Determinants of Residential Mobility: Implications for the Value of Residential Attachment and Neighborhood Amenities
Maximum Score Residential Mobility Residential Attachment Neighborhood Amenities
2009/11/5
This paper examines the determinants of the decision of low-income renters to move out of their current dwelling. Maximum score estimation is shown t be superior to ordinary discrete choice estimation...
Instrumental Variable Estimates of the Labor Market Spillover Effects of Welfare Reform
the Labor Market Welfare Reform
2009/11/5
By increasing the labor supply of welfare recipients, welfare reform may reduce wages and increase unemployment among other less-educated groups. These "spillover effects" are difficult to estimate be...
Volume of capital services:estimates for 1950 to 2005
Volume of capital services estimates for 1950 to 2005
2009/11/4
Capital services are the measure of capital input that is suitable for analysing and modelling productivity. This article presents experimental estimates of the volume of capital services for the UK a...
Quality-adjusted labour input:estimates for 1996 to 2006
Quality-adjusted labour input estimates for 1996 to 2006
2009/11/4
Estimates of quality-adjusted labour input are improved measures of labour's input to production and are therefore more suitable for analysing and modelling productivity than standard volume measures ...
Volume of capital services:estimates for 1950 to 2006
Volume of capital services estimates for 1950 to 2006
2009/11/4
Capital services are the measure of capital input that is suitable for analysing and modelling productivity. This article presents experimental capital services estimates for 1950 to 2006 for the whol...
Multi-factor productivity:estimates for 1997 to 2006
Multi-factor productivity estimates for 1997 to 2006
2009/11/4
This article presents multi-factor productivity, sometimes referred to as total factor productivity or growth accounting, results for 1997 to 2006 using an experimental quality-adjusted labour input m...
Historically, Office for National Statistics (ONS) early estimates of the growth of the volume of gross domestic product have tended to be revised up on average. This article considers why this has oc...
The UK is unusual among member countries of the Organisation for Economic Co-operation and Development in using business surveys on investment expenditure to estimate almost all nonresidential investm...
Experimental estimates of rural-urban productivity
Experimental estimates rural-urban productivity
2009/11/3
Understanding the economic performance of rural areas is an important part of government policy. This article presents experimental estimates of productivity at the rural and urban level for England a...
Quality-adjusted labour input:estimates for 1997 to 2007
Quality-adjusted labour input estimates
2009/11/3
ONS headline productivity series, Gross Value Added per unit of labour, are based on the concept of 'labour productivity', with labour input measured in terms of hours, jobs or workers. The drawback o...
Capital services are the flow of services into the production of output that are generated by the capital stock, as opposed to the stock of capital itself. As such, capital services are the measure of...
Multi-factor productivity (MFP), sometimes referred to as 'total-factor productivity' or 'growth accounting', is a method of analysing productivity which allows for a more in-depth assessment of perfo...
Firm-level estimates of capital stock and productivity
Firm-level estimates capital stock productivity
2009/11/3
Recent empirical work has highlighted the importance of firm-level studies in explaining productivity trends over time and across industries and countries. Using the microdata sets, made available wit...