This paper explores the inconsistency of common scale estimators when output is proxied by deflated sales, based on a common output deflator across firms. The problems arise when firms operate in an imperfectly competitive environment and prices differ between firms. In particular, we show that...

This paper investigates the relationship between earnings, schooling, and ability for young men and women who entered the labor force during the late 60s and 70s. The emphasis is on controlling for both observed and unobserved family characteristics, extending a framework developed earlier by...

We model demand for four cephalosporins and compute own- and cross-price elasticities between branded and generic versions of the four drugs. We model demand as a multi-stage budgeting problem, and we argue that such a model is appropriate to the multi-stage nature of the purchase of...