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  • Articles  (4,883,138)
  • Articles: DFG German National Licenses  (4,883,138)
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  • Articles  (4,883,138)
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  • 1
    Electronic Resource
    Electronic Resource
    Averaging Income Distributions (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Various inequality and social welfare measures often depend heavily on the choice of a distribution of income. Picking a distribution that best fits the data involves throwing away information and does not allow for the fact that a wrong choice can be made. Instead, Bayesian model averaging utilizes a weighted average of the results from a number of income distributions, with each weight given by the probability that a distribution is ‘correct’. In this study, prior densities are placed on mean income, the mode of income and the Gini coefficient for Australian income units with one parent (1997–8). Then, using grouped sample data on incomes, posterior densities for the mean and mode of income and the Gini coefficient are derived for a variety of income distributions. The model-averaged results from these income distributions are obtained.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.0307-3378.2005.00226.x
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  • 2
    Electronic Resource
    Electronic Resource
    Stochastic Unit Roots in the Capital Asset Pricing Model? (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Evidence is provided in this article for the existence of a stochastic unit root (STUR) in a proxy for the US risk-free interest rate, in preference to a standard fixed unit root. The implications of the existence of the STUR, on estimating and testing the capital asset pricing model, are also examined through simulations. The effects of the STUR in the risk-free interest rate, on conducting unit root tests for excess market returns and estimating the betas of assets, are found to be qualitatively similar to those of the standard (fixed) unit root. Thus, this article confirms the conjecture of Markellos and Mills (2001, Applied Economics Letters, 8, pp. 499–502) on the risk-free interest rate following near-integrated processes, at least for a STUR.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.0307-3378.2005.00228.x
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  • 3
    Electronic Resource
    Electronic Resource
    Has liberalization affected profit margins in Indian Industry? (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this article, we analyse the determinants of firm-level profit margins in Indian manufacturing. The model we estimate is rich in its dynamic characterization allowing as it does for lagged terms, trend movements, business cycle effects and a structural break in 1991. We hypothesize that the reforms undertaken by the government in 1991 constitute a structural break that influences a firm's independence to react to other firms as well as the extent of competition faced by these firms. Inserting this into the standard industrial organization model of profits, we obtain a dynamic market model. Estimating this model for 1980–98, we find that the 1991 reforms did have a significant impact on profit margins in Indian industry. The reforms have worked through their impact on a firm's behavioural variables – advertising, Research and Development (R&D), capital–output ratios and managerial remuneration – though the precise variables that were significant varied from sector to sector. We find that relatively inefficient firms make significantly lower profits than others both before and after the liberalization as expected.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.0307-3378.2005.00224.x
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  • 4
    Electronic Resource
    Electronic Resource
    ‘Don’t Know Much About History…’: Revisiting the Impact of Curriculum on Subsequent Labour Market Outcomes (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Regression and neural network models of wage determination are constructed where the explanatory variables include detailed information about the impact of school curricula on future earnings. It is established that there are strong non-linearities and interaction effects present in the relationship between curriculum and earnings. The results have important implications in the context of the human capital vs. signalling and screening debate. They also throw light on contemporary policy issues concerning the desirability of breadth vs. depth in the school curriculum.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.0307-3378.2005.01287.x
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  • 5
    Electronic Resource
    Electronic Resource
    Growth and Wage Inequality in a Dual Economy (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Who benefits from economic growth? This paper analyses the distributional impact of different types of growth within a two-sector model. The paper first presents necessary and sufficient conditions for unambiguous changes in wage inequality in a dual economy, based on analysis of the entire Lorenz curve. These conditions are then applied to the Harris–Todaro model with an urban non-agricultural sector and rural agriculture. It is shown that capital accumulation or technical progress in agriculture can shift the Lorenz curve inwards and reduce wage inequality, while the effects of development in non-agriculture are typically ambiguous.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.0307-3378.2005.00218.x
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  • 6
    Electronic Resource
    Electronic Resource
    Explaining ethnic unemployment and activity rates: evidence from the QLFS in the 1990s and 2000s (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article uses data from the Quarterly Labour Force Survey for 1992–95 and 2000–03 to examine changes in ethnic unemployment and economic activity. The intention was to compare the relatively high unemployment era of the 1990s with the lower unemployment era of the 2000s. Although the ethnic minority unemployment situation has improved, only half of the difference between white and non-white unemployment can be attributed to differences in observed characteristics. This suggests that a large unexplained discriminatory element still exists for most ethnic minorities. This has become larger for Pakistani/Bangladeshi men, implying a widening of the unexplained ethnic differential.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.0307-3378.2005.00220.x
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  • 7
    Electronic Resource
    Electronic Resource
    Taxation, Reranking and Equivalence Scales (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: It is conjectured that if the government has a distributional objective and formulates tax policy with a view to equitable treatment of households, then adopting the scale that is implicit in transfer policy should identify only reranking that has no equity foundation. This motivates the question: can the reranking-minimizing scales be identified as those implicit in the transfer system? The analysis presented in this study suggests that the equivalence scale which minimizes reranking, while not necessarily equal to the tax implicit equivalence scale, is nevertheless in its vicinity.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8586.2005.00213.x
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  • 8
    Electronic Resource
    Electronic Resource
    Editorial Announcement (2004)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 56 (2004), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8586.2004.00204.x
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  • 9
    Electronic Resource
    Electronic Resource
    Market Structure, Efficiency and Rising Consolidation of the Banking Industry in the Euro Area (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Four factors are fundamentally altering the financial landscape in the Euro Area: deregulation, further disintermediation provoked by the common currency and common monetary policy, technological advances and increased competition from non-bank intermediaries. Faced with the combined pressures of these factors, banks are devising strategies to do business in this new environment. They respond by attempting to improve their efficiency and/or market power through consolidation and balance sheet restructuring. This article examines whether the ongoing process of consolidation should be rationalized on the basis of the benefits of economies of scale and scope or to the attempt of banks to tackle excess capacity problems. Empirical findings reveal a significant effect of efficiency measures on banking profitability indices. Also, we argue that further disintermediation caused by common currency and common monetary policy poses a threat to banks' profitability. Finally, these results have some implications for merger and antitrust policy as well as for supervisory and regulatory practices.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8586.2005.00215.x
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  • 10
    Electronic Resource
    Electronic Resource
    Beliefs, Bailouts and Spread of Bank Panics (2005)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Bulletin of economic research 57 (2005), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article highlights the spread of bank panics across countries, as the public reassesses governments' propensity to bailouts. Policymakers decide whether to save collapsing banking systems by weighing social costs of crises against the costs associated with raising taxes to finance rescue packages. Policymakers know those social costs of bank liquidation whereas the public does not. In this setup, financial crises may result from the public's self-fulfilling prophecies about equilibrium outcomes, as lenders' expectations impinge on the taxation cost of bailouts. It follows that a banking crisis in a country leads creditors to reexamine policymakers' willingness to bailouts in other countries, which eventually makes their banks more vulnerable to self-confirming depositors' runs.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8586.2005.00216.x
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