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Full-Text Articles in Econometrics
Estimating The Narcotic Effect Of Public Sector Impasse Procedures, Richard J. Butler, Ronald G. Ehrenberg
Estimating The Narcotic Effect Of Public Sector Impasse Procedures, Richard J. Butler, Ronald G. Ehrenberg
Ronald G. Ehrenberg
This paper first describes in a relatively nontechnical fashion several econometric techniques that the authors believe should be useful to industrial relations researchers. Those techniques are then applied to an analysis of whether public sector impasse procedures create a "narcotic effect," that is, a tendency for the bargaining parties, once they use the procedures, to become increasingly reliant on them in future negotiations. The authors reanalyze data from Thomas Kochan and Joan Baderschneider’s study of the impasse experience of police and firefighters under New York State’s Taylor Law during the 1968-76 period and find that while a narcotic effect did …
Income Inequality And Economic Incentives: Is There An Equity-Efficiency Tradeoff?, Lonnie K. Stevans
Income Inequality And Economic Incentives: Is There An Equity-Efficiency Tradeoff?, Lonnie K. Stevans
Lonnie K. Stevans
What is the basis and direction of relationship between income inequality and economic growth? The equity versus efficiency dictum which predicts a positive relationship between inequality, capital formation, and real GDP growth—emphasizes the importance of economic incentives. Subsequently, this was challenged by the incomplete markets and political outcomes theories, because of increasing empirical evidence of an inverse relationship between income inequality and economic growth. In this paper, a further explanation of the basis and nature of the inequality–capital–growth relationship is presented, which emphasizes the divergence between savings and investment. For the United States, over the period 1970–2006, we have found …
Regression Anatomy, Revealed, Valerio Filoso
Regression Anatomy, Revealed, Valerio Filoso
Valerio Filoso
The Regression Anatomy (RA) theorem (Angrist and Pischke 2009) is an alternative formulation of the Frisch-Waugh-Lovell (FWL) theorem (Frisch and Waugh 1933; Lovell 1963), a key finding in the algebra of OLS multiple regression models. In this paper, we present a command, reganat, to implement graphically the method of RA. This addition complements the built-in Stata command avplot in the validation of linear models, producing bidimensional scatterplots and regression lines obtained controlling for the other covariates, along with sev- eral fine-tuning options. Moreover, the article provides (1) a fully worked-out proof of the RA theorem and (2) an explanation of …
The Relationship Between Poverty And Economic Growth Revisited, Lonnie K. Stevans, David N. Sessions
The Relationship Between Poverty And Economic Growth Revisited, Lonnie K. Stevans, David N. Sessions
Lonnie K. Stevans
It has been shown in prior research that increased economic growth reduces poverty. Authors have also found that the effect of growth in GDP on poverty growth has either diminished or remained unchanged over time and the 1980s economic expansion in the U.S. had no affect on poverty. Using a formal error-correction model, we find that increases in economic growth are significantly related to reductions in the poverty rate for all families. Specifically, GDP growth was found to have a more pronounced effect on poverty during the expansionary periods of the 1960s, 1970s, 1980s, 1990s, and 2000s. Other findings include …