An "adapted Lorenz curve" (ALC) is suggested which relates the cumulative proportion of, say, income earners that receive income below x to the proportion of total income that is earned in income brackets below x. The ALC is especially useful in survival contexts: in that it compactly visualizes...

This paper investigates why the U.K. has experienced steadily higher unemployment at cyclical peaks since 1965 using a structural model of the U.K. labor market. The mo del emphasizes the differences in experience and structure of the man ufacturing and nonmanufacturing private sectors using a...

Using a simple model, the hypothesis that trade instability is positively rel ated to distance between countries is developed. It is tested with se veral regressions using U.S. export and import data. The hypothesis i s strongly borne out by the export data, with that for imports being less...

This paper provides a reevaluation of often-used limited dependent variable models. It shows that parameter estimators based on such models may be seriously biased and inconsistent if the true d istribution of the disturbance term deviates from normality. The degr ee of difference from normality...

A linear-programming approach to the measurement of quality is investigated as an alternative to the hedonic price regression. This provides a boundary measure of productive efficiency which neither imposes an arbitrary functional form nor is sensitive to inefficient observations, unlike the...

Price data contained in either cross-sectional or panel-data surveys is inherently censored due to the data-collection methodology of these surveys. As a result, an OLS price-tenure regression will yiel d inconsistent estimates of those parameters which theoretical models imply are of interest....

An equation for earnings is derived from the assumption that wage increases are determined in a process of negotiation bet ween union and firm. The union is taken to be concerned about real wa ge, the firm about its real profit. The goods market is perfectly com petitive. The empirical work...

This paper develops and estimates an equilibrium condition relating to the modern t heory of forward exchange. The author uses high-quality, overlapping, weekly data for dollar-franc and dollar-sterling exchange and intere st rates, and utilizes a generalized method of moments estimator to y...

In this paper, the authors test the hypotheses that family and hired labor are perfect subst itutes in agricultural production in developing countries, and that t here is no quality differential between an hour of family and of hire d labor. Both hypotheses, commonly maintained as assumptions in...