bluuebunny/crossref_metadata_2025_split huggingface dataset:
Classification and aggregation: An application to industrial classification in cps data
Authors: Cotterman R. , Peracchi F. 
Published: July 2007

AbstractIn this paper we offer a method for deciding how to aggregate a set of elementary industries. The method is then applied to the problem of estimating a wage equation that allows for industry‐specific effects. Our method explicitly formalizes the trade‐off between goodness‐of‐fit and parsimony implicit in an aggregation problem. By varying the parameter of the assumed loss function, one obtains a whole sequence of aggregation levels. Further, the resulting sequence is consistent; that is, groupings formed at one level of aggregation will never be undone when one aggregates further.
The relationship between forecast dispersion and forecast uncertainty: Evidence from a survey data—arch model
Authors: Rich R. W. , Raymond J. E. , Butler J. S. 
Published: July 2007

AbstractThis paper examines empirically the relationship between measures of forecast dispersion and forecast uncertainty from data on inflation expectations from the Livingston survey series and the Survey Research Center (SRC) survey series. Because the survey series do not provide probabilistic forecasts of inflation, we derive measures of inflation uncertainty by modelling the conditional variance of the inflation forecast errors from the survey series as an autoregressive conditional heteroscedastic (ARCH) process. The analysis is complicated by the fact that the overlap of forecast horizons for the survey series does not preclude the model's disturbance terms from displaying autocorrelation, and also places a restriction on the specification for the ARCH measures of inflation uncertainty. We estimate the model using Hansen's (1982) generalized method of moments (GMM) procedure to account for the presence of serial correlation and conditional heteroscedasticity in the disturbance terms. The results generally support the hypothesis that the measures of forecast dispersion across survey respondents are positively and statistically significantly associated with the measures of inflation uncertainty. However, the appropriateness of using forecast dispersion measures as proxies for inflation uncertainty is sensitive to the choice of the survey series.
Market structure and spells of employment and unemployment: Evidence from the construction sector in Egypt
Authors: Tunali Insan , Assaad Ragui 
Published: July 2007

AbstractThis paper investigates the links between market structure and spells of employment and unemployment in the construction sector in Egypt using an augmented job search framework. Two key features of the model are the reservation frontier which allows for a trade‐off between wages and expected duration of employment, and the dependency of unemployment durations on expected employment durations and expected wages. These, as well as conjectures concerning the influence of demand‐side forces obtained from the expressions for the transition rates out of employment and unemployment, are examined using Weibull, log‐logistic and generalized gamma parameterizations of the hazard rate. The parametric assumptions are exploited to resolve problems associated with selectivity and use of generated regressors.
Simple tests for sample selection bias in censored and discrete choice models
Authors: Vella F. 
Published: July 2007

AbstractThis paper presents two simple tests of sample selection bias for models where the primary equation of interest has a censored or discrete dependent variable. The first test is derived as a conditional moment test and can be implemented in a regression‐based framework. The second test is an extension of the testing procedures proposed by Heckman (1979) and Vella (1993) and is a t‐test on a constructed variable in an auxiliary equation. The utility of the tests is illustrated in a model determining the receipt of work conditioned nonwage labour income over a subsample of working women.
News effects in a high‐frequency model of the sterling‐dollar exchange rate
Authors: Goodhart C. A. E. , Hall S. G. , Henry S. G. B. , Pesaran B. 
Published: July 2007

AbstractThis paper uses an extremely high frequency data set on the dollar‐sterllng exchange rate to investigate the impact of news events on the very short‐term movements in exchange rates. The data set is a continuous record of the quoted price for the exchange rate on the Reuters screen. As such it records some 130,000 observations over an 8‐week period. The paper investigates the time‐series properties of the data using orthodox regression models, and then by making allowance for a time‐varying conditional variance. The conclusions vary significantly in moving to this more sophisticated model. The exercises are repeated now incorporating news announcement effects, letting these affect the level of the exchange rate and then the conditional variance process. Again it is found that the conclusions are radically altered in moving to the increasingly sophisticated model.
Joint tests for regularity and autocorrelation in allocation systems
Authors: Deschamps P. J. 
Published: July 2007

AbstractIn the context of allocation models with vector autoregressive errors we propose a convenient procedure, based on the Lagrange multiplier principle, for testing any possible combination of absence of serial correlation, homogeneity, and symmetry against any possible alternative which specifies autocorrelation of an arbitrary given order. We also derive generic expressions for the maximum likelihood estimation of the models under six possible combinations of constraints. The methodology is illustrated with the Rotterdam model and the differential AIDS model, both estimated from the same quarterly British data.
Detrending, stylized facts and the business cycle
Authors: Harvey A. C. , Jaeger A. 
Published: July 2007

AbstractThe stylized facts of macroeconomic time series can be presented by fitting structural time series models. Within this framework, we analyse the consequences of the widely used detrending technique popularised by Hodrick and Prescott (1980). It is shown that mechanical detrending based on the Hodrick–Prescott filter can lead investigators to report spurious cyclical behaviour, and this point is illustrated with empirical examples. Structural time‐series models also allow investigators to deal explicitly with seasonal and irregular movements that may distort estimated cyclical components. Finally, the structural framework provides a basis for exposing the limitations of ARIMA methodology and models based on a deterministic trend with a single break.
Gauss and matlab: A comparison
Authors: Rust J. 
Published: July 2007

AbstractI compare two high‐level matrix programming languages with built‐in function libraries and graphics routines. Their interactive nature and convenient syntax makes them ideal for use in econometric applications. The languages are remarkably similar in terms of their features and performance. MATLAB's chief advantage is that it runs on a wider array of hardware and operating systems than GAUSS. GAUSS's main advantage is that it has better coverage of statistical and econometric routines. Overall, MATLAB's features seem best suited for analysing time‐series data and other macro econometric applications, while GAUSS is ideal for analysing panel data and other microeconometric applications.
A latent class poisson regression model for heterogeneous count data
Authors: Wedel M. , Desarbo W. S. , Bult J. R. , Ramaswamy V. 
Published: July 2007

AbstractIn this paper an approach is developed that accommodates heterogeneity in Poisson regression models for count data. The model developed assumes that heterogeneity arises from a distribution of both the intercept and the coefficients of the explanatory variables. We assume that the mixing distribution is discrete, resulting in a finite mixture model formulation. An EM algorithm for estimation is described, and the algorithm is applied to data on customer purchases of books offered through direct mail. Our model is compared empirically to a number of other approaches that deal with heterogeneity in Poisson regression models.
Estimating consumer preferences using market data—an application to us automobile demand
Authors: Arguea N. M. , Hsiao C. , Taylor G. A. 
Published: July 2007

AbstractThis paper explores the possibility of using market data to identify consumer preferences. A utility function composed of ‘homogeneous’ characteristics and goods‐specific effects is used as a basic link between the goods space and the characteristics space. The functional form for the hedonic price equation, the data requirements and issues of measurement errors for estimating demand and supply of characteristics are discussed. We illustrate the methodology by considering the US automobile demand using 1969–86 data compiled from Consumer Reports and Ward's Automotive Yearbook.
A univariate analysis of EMS exchange rates using a target zone model
Authors: De Jong F. 
Published: July 2007

AbstractThe models in the literature on exchange‐rate target zones imply a non‐linear time series model for the exchange rate. We show how the parameters of such models can be estimated and develop Maximum Likelihood and Method of Simulated Moments estimators for the target zone model of Krugman (1991). The Maximum Likelihood estimator is based on a computationally attractive approximation to the exact predictive density of the continuous time model. Monte Carlo experiments are used to assess the properties of this estimator. In the empirical part we estimate the model with data on recent EMS exchange rates. We find that the Krugman (1991) target zone model is not able to explain the full observed kurtosis and conditional heteroscedasticity of the exchange‐rate returns.
Economic fluctuations, market power, and returns to scale: Evidence from firm‐level data
Authors: Chirinko R. S. , Fazzari S. M. 
Published: July 2007

AbstractRecent research on aggregate fluctuations, coupled with ongoing work in industrial organization, has renewed interest in the existence, magnitude, and cyclical pattern of market power and the extent of increasing returns to scale. By exploiting restrictions from dynamic theory and information from financial markets, we present a framework for generating quantitative evidence on market power and returns to scale. Tailoring the econometric model to firm‐level panel data, we calculate the percentage differential between price and marginal cost (the Lerner index) in terms of the parameters from the econometric system. Results for firms in eleven industries indicate that there is a great deal of heterogeneity in the extent of market power. Industries with significantly positive Lerner indices tend to have substantial increasing returns in the production technology. We find that there is only a modest relation between our estimated Lerner indices and traditional measures of market power and that, when market power varies temporally, it is usually procyclical. Thus, variations in the markup of price over marginal cost may help dampen aggregate economic fluctuations.
Estimation of econometric models of some discrete games
Authors: Kooreman Peter 
Published: July 2007

AbstractThis paper discusses, estimates and compares some microeconometric models for simultaneous discrete endogenous variables. The models are based on the assumption that observed endogenous variables represent the outcome of a static discrete game. I discuss models based on non‐cooperative equilibrium concepts (Nash, Stackelberg), as well as models which presume Pareto optimality of observed outcomes. The models are estimated using data on the joint labor force participation decisions of husbands and wives in a sample of Dutch households.
Attrition in longitudinal panel data and the empirical analysis of dynamic labour market behaviour
Authors: Van Berg G. J. Den , Lindeboom M. , Ridder G. 
Published: July 2007

AbstractIn the empirical analysis of unemployment durations and job durations, it is generally assumed that the stochastic processes underlying labour market behaviour and the behaviour concerning participation in a panel survey are independent. However, there are reasons to believe that the probability of dropping out of the panel is related to the rate at which a (different) job is found. If there is such a relation, and if it is ignored, then the estimator of the rate at which individuals become employed or change jobs will generally be inconsistent. In this paper we analyse the relation between the duration spent in a particular labour market state and the duration of panel survey participation, by explicitly modelling and estimating the joint distribution of both durations. The emphasis will be on models allowing for stochastically related unobserved determinants of both types of duration. We estimate models both for unemployment durations and for job durations.
Nonnegativity constraints and intratemporal uncertainty in a multi‐good life‐cycle model
Authors: Adang Pim , Melenberg Bertrand 
Published: July 2007

AbstractIn the standard multi‐good life‐cycle consumption model (with intertemporal additive utility) the intratemporal relations between the marginal utilities of the different goods are deterministic. However, these deterministic identities will not usually be satisfied by the data. To avoid these deterministic relationships, we apply an approach which consists of introducing intratemporal uncertainty, and which is, in particular, interesting when additional nonnegativity constraints are present. We estimate some simple versions of the model with this so‐called intratemporal uncertainty. The estimation results are, in general, in accordance with the theory, and most versions of the model are not rejected by Hansen and Singleton's misspecification test.
Forecasting in cointegrated systems
Authors: Clements Michael P. , Hendry David F. 
Published: July 2007

AbstractWe consider the implications for forecast accuracy of imposing unit roots and cointegrating restrictions in linear systems ofI(1) variables in levels, differences, and cointegrated combinations. Asymptotic formulae are obtained for multi‐step forecast error variances for each representation. Alternative measures of forecast accuracy are discussed. Finite sample behaviour in a bivariate model is studied by Monte Carlo using control variables. We also analyse the interaction between unit roots and cointegrating restrictions and intercepts in the DGP. Some of the issues are illustrated with an empirical example of forecasting the demand for M1 in the UK.
Semi‐parametric estimation of simultaneous equations with limited dependent variables: A case study of female labour supply
Authors: Lee Myoung‐Jae 
Published: July 2007

AbstractWe propose a general strategy to estimate semi‐parametrically simultaneous equations with limited dependent variables. First, each reduced form (RF) is estimated with various semi‐parametric methods. Second, the specification of each RF is tested to select an appropriate method. Third, the structural form (SF) equations are estimated using minimum distance methods and the restrictions among the SF and RF parameters. A case study of female labour supply is presented.
Forecasting exchange rates using feedforward and recurrent neural networks
Authors: Kuan Chung‐Ming , Liu Tung 
Published: July 2007

AbstractIn this paper we investigate the out‐of‐sample forecasting ability of feedforward and recurrent neural networks based on empirical foreign exchange rate data. A two‐step procedure is proposed to construct suitable networks, in which networks are selected based on the predictive stochastic complexity (PSC) criterion, and the selected networks are estimated using both recursive Newton algorithms and the method of nonlinear least squares. Our results show that PSC is a sensible criterion for selecting networks and for certain exchange rate series, some selected network models have significant market timing ability and/or significantly lower out‐of‐sample mean squared prediction error relative to the random walk model.
The use of low‐temperature crystallisation in the determination of component acids of liquid fats. II. Fats which contain linolenic as well as linoleic and oleic acids
Authors: Gunstone F. D. , Hilditch T. P. 
Published: July 2007

AbstractThe mixed fatty acids are first separated into sovorul groups by crystallisation from appropriate solvents at low temperatures. In each group the proportions of linolenic, linoleic, oleiu and saturated acids are determined spectrographically after isomerisation with alkali,1 Palmitic acid and other saturated acids may be determined by fractional distillation of the completely hydrogenated methyl eaters of the total mixed fatty acids, or from direct ester‐fractionation of the methyl esters of each group of the mixed acids obtained by low temperature crystallization. The accuracy of the determination depends largely on the degree to which, by low temperature crystallisations, the mixed fatty acids are resolved into (i) portions rich in olcic and/or saturated acids (with only minor amounts of linoleic and linolenic acid) and (ii) portions rich in linoleic and/or linolenic acid (with relatively small proportions of oleic and saturated acids). The procedure is illustrated by determination of the component acids of linseed oil, of wheat germ oil, and of two specimens of rubber seed oil.The propects of rubber seed oil as a drying oil for the paint industry are briefly discussed.
Drinking water from sea water by a chemical method
Authors: Akeroyd E. I. , Holmes E. L. , Klein A. 
Published: July 2007

AbstractBefore 1939 the only practical method of converting sea water into drinking water Was by distillation. This method, whilst subjected to improvement during the war, could not be applied for use in the rubber dinghies in which stranded aircrews must exist until they are picked up. For the reason an alternative method was essential and a chemical means of removing the dissolved salts from sea water was developed which was simple in operation and which provided a largo margin of dunking water over that which could be carried in tilts in the emergency packs.This article describes the development of the process and the results finally achieved. Furthermore, it shows how the properties of ion exchange materials, which in peacetime hud been used mainly for softening hard waters, could be applied to other purposes und assist in the solution of an otherwise difficult chemical problem.
Method for the micro‐determination of the sorption of fumigants
Authors: Wikteringham F. P. W. 
Published: July 2007

AbstractBrief reference is made to the importance of the study of sorption in investigating problems of fumigation. The application of a two‐chamber sorption apparatus to tie micro‐determination of the torption of chemically reactive fumigants is described is detail. The success of the method depends Inreglv on the precision of the analytical method of determining the concentration of fumigant in the apparatus. For the introduction of known weights of fumigant into the sorption apparatus a sampling procedure has bean employed, which snows advantages over the method of weighing the fumigant out in glass ampoules. The application of the method of reaction in monoethanolamine to the determination of methyl bromide concentrations in the two‐chamber apparatus is described. The analytical errors and the calculation of the average concentration obtaining in the free space of the apparatus during an experiment are discussed.
The solubility of acetylene in acetone
Authors: Brameld V. E. , Clark M. T. 
Published: July 2007

AbstractFollowing a brief review of published work on the solubility of acetone, a. new gravimetric method for its determination is described, Results are given for the temperature range 0° to 40° under an acetylene partial pressure of 1 atm. These values are expressed on a weight basis, since such a coefficient is of creator practical value than the more frequently used volume coefficients, ft is demonstrated that the solubility coefficient Sw is related to the temperature by an empirical equation which is sufficiently valid for use over a temperature range of — 30° to 35°. This equal ion is Sw=13100/T‐185.3 where T°K is the temperature and Sw is expressed in mg. of acetylene per gm, of acetone. It is shown that for values of the partial pressure in the region of atmospheric, the solubility is directly proportional to the partial pressure of acetylene in the gas phase above the solution.
The adsorption of aneurin (vitamin B1) on sand
Authors: Ridyard H. N. 
Published: July 2007

AbstractWhen using sand as a control column during an investigation of synthetic zeolites it was discovered that the sand itself absorbed aneurin, which could be recovered quantitatively by chit ion with potassium chloride solution. The absorptive capacity of the sand is found to vary with the source, and the evidence suggests that the sand grains possess a zeolitic surface layer due to the action of soil solutions. The grinding of tissues with sand is shown to be likely to cause loss of basic substances present in very low concentration. A quantitative method has been developed which has proved valuable in the estimation of aneurin in wheat products, and possibilities of further simplification and wider application are under examination.
A protective chemical treatment for tinplate
Authors: Kerr R. 
Published: July 2007

AbstractWhen tinplate in immersed for 20 sec. At 85° in an alkaline phosphate‐eliminate solution containing n penetrating agent it acquires an invisible film which protects it against blackening by sulphur‐containing foods, and also greatly retards rusting in moist air. An account is given of cannery trials in which the protective film was applied to tinplate cans after filling by adapting the can‐washing machinery, and of a large‐scale experiment in which tinplate sheets were treated by the same process before fabrication into cans, Cans manufactured from treated tinplate combine the advantages of freedom from internal blackening and increased resistance to external rusting, and for a number of packs the amount of tin absorbed by the food during storage is less than in cans made from untreated tinplate.
Investigation of the seed oils of some sudan cæsalpinioideæ
Authors: Grindley O. N. 
Published: July 2007

AbstractThe seeds of this sub‐family have a very low content fixed oils, which are highly coloured and contain a high proportion of msaponifiable matter. In moat canon the mixed fatty acids contain about 30% of suturated acids, the balance being a mixture of oleic and linoleie acids, the amounts of the two hitter varying with the species. In all cases, fatty acids of high molecular weight were shown to lie present, a fact that appears to be a characteristic of the entire Legmninoste family.
The determination of tar fog in gas. Part I
Authors: Badger E. H. M. , Wilson D. S. 
Published: July 2007

AbstractA method for the determination of tar fog in gas is described. Tests made on the removal of tar fog from carburetted water gas in multi‐stage high‐speed exhauster are described and the importance of good cooling of the gas pointed out. Tests made on a coal gas stream containing high‐speed exhausters show that provided there is good cooling in the secondary condensers the tar fog entering the purifiers can be reduced to a very low figure.