In regressions using a semi-logarithmic functional form that include a dummy variable, Kennedy (1981) showed that instead of interpreting the dummy coefficient directly, one needs to “correct” it to estimate the percentage effect of the dummy variable on the dependent variable. In the...

One of the standard practices in estimating costs for new procedures is to apply past experience. In this chapter, Robin Cantor uses prudency hearings and other data from power plant construction to illuminate some of the pitfalls likely to be encountered in preparing estimates for power plant...

Much of the literature concerning trade liberalization focuses on estimating the effect of increased trade on aggregate economic indicators, such as the growth in GDP per capita. Although there is a general recognition that trade benefits consumers, there is little research that estimates the...