Search Results - subject:"Functional Form"

The Perils of Tax Smoothing; Sustainable Fiscal Policy with Random Shocks to Permanent Output

Tanner, Evan; Carey, Kevin Joseph - International Monetary Fund (IMF) - 2005

If permanent output is uncertain, tax smoothing can be perilous: both debt levels and tax rates are difficult to stabilize and may drift upwards. One practical remedy would be to target the debt. However, our simulations confirm that such a policy would require undesirably volatile fiscal...

Persistent link: https://www.econbiz.de/10005264166

Why is Micro Evidenceon the Effects of Uncertainty Not Replicated in Macro Data?

Lombardi, Domenico; Bond, Stephen - International Monetary Fund (IMF) - 2005

This study investigates the relationship between uncertainty and investment using U.K. data at different levels of aggregation. Motivated by a comparative econometric analysis using a firm-level panel and aggregate time-series data, we analyze the implications of aggregating nonlinear...

Persistent link: https://www.econbiz.de/10005264173

Bayesian Inferences on Fourier Flexible Functional Form in Agricultural Production

Featherstone, Allen M.; Cader, Hanas A. - Agricultural and Applied Economics Association - AAEA - 2005

Flexible functional forms are used to examine the characteristics of production technologies. The Fourier functional … form is capable of approximating any function globally, with the specified expansion. Unfortunately the exact form of the …

Persistent link: https://www.econbiz.de/10005327348

Educational Attainment and Adult Mortality in the United States: A Systematic Analysis of Functional Form

Montez, Jennifer; Hummer, Robert; Hayward, Mark - In: Demography 49 (2012) 1, pp. 315-336

Persistent link: https://www.econbiz.de/10010844035

Is the choice of (t−T) in Battese and Coelli (1992) type stochastic frontier models innocuous? Observations and generalisations

Wheat, Phill; Smith, Andrew - In: Economics Letters 116 (2012) 3, pp. 291-294

In this paper we consider the sensitivity of functional form in the popular panel data stochastic frontier model … proposed by Battese and Battese and Coelli (BC, 1992). We demonstrate that adopting the (t−T) efficiency functional form used …

Persistent link: https://www.econbiz.de/10011041725

Nonlinearity in hedonic price equation: An estimation strategy using model-based clustering

Day, Brett; Bateman, Ian; Lake, Iain - 2004

Recent advances in the theoretical understanding of equilibria in property markets predict that the equilibrium hedonic price function will typically be highly nonlinear. Rather than adopting progressively more flexible econometric specifications to deal with this nonlinearity we adopt an...

Persistent link: https://www.econbiz.de/10010319042

Datos de panel y demanda de alimentos en Espana

Dhehibi, B.; Gil, J.M.; Angulo, A.M. - In: Revista Española de Estudios Agrosociales y Pesqueros (2004) 204

functional form, we provide a flexible approach from which the functional form which fits better the data can be selected …

Persistent link: https://www.econbiz.de/10010882584

RURAL WATER SUPPLIERS AND EFFICIENCY - EMPIRICAL EVIDENCE FROM EAST AND WEST GERMANY

Sauer, Johannes - Leibniz-Institut für Agrarentwicklung in … - 2004

symmetric generalized McFadden functional form and the imposition of concavity restrictions as required by economic theory. Data … on 47 rural water suppliers was collected by a written survey in 2002/2003. The applied second order flexible functional … form performs well in the estimations. Efforts towards increasing suppliers'Â allocative efficiency should focus on the …

Persistent link: https://www.econbiz.de/10004989538

Identifying Threshold Effects in Credit Risk Stress Testing

Morales, Armando Méndez; Gasha, Jose Giancarlo - International Monetary Fund (IMF) - 2004

Using data from Argentina, Australia, Colombia, El Salvador, Peru, and the United States, we identify three types of threshold effects when assessing the impact of economic activity on nonperforming loans (NPLs). For advanced financial systems showing low NPLs, there is an embedded...

Persistent link: https://www.econbiz.de/10005768731

To Buy or Not to Buy? Uncertainty, Irreversibility and Heterogeneous Investment Dynamics in Italian Company Data

Lombardi, Domenico; Bond, Stephen - International Monetary Fund (IMF) - 2004

This study tests for the presence of real options effects induced by uncertainty and (partial) irreversibility on fixed capital investment using Italian company data. The approach recognizes that firm-level investment spending may, itself, be aggregated over multiple investment decisions in...

Persistent link: https://www.econbiz.de/10005769181