Several authors have suggested using the jackknife technique to approximate a standard error for the Gini coefficient. It has also been shown that the Gini measure can be obtained simply from an artificial ordinary least square (OLS) regression based on the data and their ranks. We show that...

Two well-established findings are apparent in the analyses of individual wage determination: cross-section wage equations can account for less than half of the variance in earnings and there are large and persistent inter-industry wage differentials. We explore these two empirical regularities...

Consistent specifications of the allocative inefficiency function in 'cost plus input share equations' systems may be difficult, if not impossible, to find because most plausible ones violate certain reasonable "a priori" conditions. Moreover, the models to which they lead give rise to highly...

This paper assesses different ways of converting qualitative data obtained in surveys into quantitative indices for a number of economic variables. The research reported here focuses on the main UK employers' business survey for manufacturing - the CBI industrial trends survey. Six response...

This study examines the unemployment experiences of young men in the United Kingdom over the period 1982.IV-1998.I. The empirical results show that repeated unemployment is a dominant feature of the UK labour market and that individual heterogeneity affects mainly the incidence of unemployment...

The empirical literature that tests for purchasing power parity (PPP) by focusing on the stationarity of real exchange rates has so far provided, at best, mixed results. The behaviour of the yen real exchange rate has most stubbornly challenged the PPP hypothesis and deepened this puzzle. This...

Do workers adjust hours of work in response to capital gains and losses? This paper investigates this question using British panel data on individual employees from 1992 to 2001. It investigates hours of work adjustments to two sources of capital gain: financial windfalls and real housing wealth...

Recently, single-equation estimation by the generalized method of moments (GMM) has become popular in the monetary economics literature, for estimating forward-looking models with rational expectations. We discuss a method for analysing the empirical identification of such models that exploits...

Using euro-area data, we re-examine the empirical success of New-Keynesian Phillips curves (NKPCs). We re-estimate with a suitably specified optimizing supply side (which attempts to treat non-stationarity in factor income shares and mark-ups) that allows us to derive estimates of technology...

In early 1974, an energy conservation policy limited the British workweek to 3 days. Researchers fear that earnings reports given by survey respondents during this period may not be comparable with those given in more typical circumstances. This study uses responses during and after the 3-day...