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Quality Adjusted Cost Functions by Paul J. Gertler,Donald M. Waldman Pdf
We propose a simple method for estimating cost functions in the presence of endogenous and unobserved quality. The theory of production, the equilibrium conditions implied by optimizing behavior, and exogenous influences on product demand are used to identify the model. An important advantage of the method is that the data requirements, above those necessary for standard cost function estimation, are minimal and the data are usually readily available. Specifically, exogenous information that influences the demand for the firm's product is required. We apply this method to estimate quality-adjusted cost functions in the nursing home industry. Estimation of a translog cost function that ignores quality yields seriously misleading estimates of marginal cost and economies of scale. In particular, while estimation of a quality-exogenous cost function reports economies of scale, estimation of a quality adjusted cost function reveals diseconomies of scale for high quality homes, constant returns to scale for average quality homes, and economies of scale for low quality homes.
Author : Jack E. Triplett Publisher : University of Chicago Press Page : 556 pages File Size : 55,9 Mb Release : 2007-12-01 Category : Business & Economics ISBN : 9780226812595
The Measurement of Labor Cost by Jack E. Triplett Pdf
Measuring costs of labor as a portion of total production costs has never before been treated so thoroughly or so thoughtfully. Moreover, contrary to most recent labor research, this book focuses on the demand side—the employer's point of view—and the behavior studied is employer behavior. An introductory essay by the editor provides a useful guide to current thought in the analysis of labor cost. Other papers give new insights into problems encountered in accounting for the nonwage elements of labor compensation, the effect of pensions and other benefits, and the wage-measurement questions raised by incomes policies. In addition, there is a wealth of valuable new data on labor costs in the United States. Labor economists, statisticians, econometric modelers, and advisers to government and industry will welcome this up-to-date and comprehensive treatment of the costs of production.
Handbook on Hedonic Indexes and Quality Adjustments in Price Indexes Special Application to Information Technology Products by Triplett Jack Pdf
Price indexes can be constructed using a “hedonic method” that adjusts for changes in the quality of a product. This handbook sets out best practice for constructing hedonic indexes.
Author : W. Erwin Diewert,John Greenlees,Charles R. Hulten Publisher : University of Chicago Press Page : 531 pages File Size : 44,6 Mb Release : 2010-02-15 Category : Business & Economics ISBN : 9780226148571
Price Index Concepts and Measurement by W. Erwin Diewert,John Greenlees,Charles R. Hulten Pdf
Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the Cost-of-Living Index (COLI) and its controversial role as the methodological foundation for the Consumer Price Index (CPI). Price Index Concepts and Measurements brings together leading experts to address the many questions involved in conceptualizing and measuring inflation. They evaluate the accuracy of COLI, a Cost-of-Goods Index, and a variety of other methodological frameworks as the bases for consumer price construction.
Competition and Techincal Change in the U.S. Telephone Industry by Nakil Sung Pdf
First published in 1997. While local telephone companies still maintain their monopolistic position, rapid technological advance in telecommunications is destroying the established market structure in the local telephone industry. The U.S. Telecommunications Act of 1996 aimed at eliminating any legal barrier which has suppressed technically feasible local competition. This study attempts to provide pro-competitive evidence on the technological or cost structure of the U.S. local telephone industry. In particular, the study presents strong evidence against cost subadditivity of local telephone companies and shows that local telephone companies have been isolated from the disciplinary effects of competition in comparison with their competitive counterparts. The study not only has policy implications for entry and competition in local telephone markets, but also provides a new approach to the measurement of embodied technical change.
Modeling for Government and Business by C.A. van Bochove,C.J. van Eyk,J.C. Siebrand,A.S.W. de Vries Pdf
This volume has been composed to commemorate the day, 25 years ago, that Dr. P. J. Verdoorn delivered his inaugural lecture after his appointment as professor of economics at the Netherlands School of Economics at Rotterdam. The prompt and enthusiastic reactions by several members of the profession on our request for a contribution illustrates the fact that Verdoorn is held in high esteem by those who worked with him and those who are acquainted with his work. We thank all the contributors for having helped us to realize our plan to honour Verdoorn with the publication of this 'liber amicorum'. Verdoorn was appointed part time professor of business statistics, market research and marketing in 1952. He held this post until 1969. In that year he started lectures closer related to his work as deputy director of the Central Planning Bureau: general economic research. He became full professor of macro-economic policy in 1975. Verdoorn showed a great versatility in all the fields on which he worked. Without exaggeration he may be characterised as one of the most many-sided economists in the Nether lands. However much the subjects he studied may have varied, the methods he applied show persistent characteristics: theories are formulated to yield testable hypotheses which, when they can be maintained, are made operatio nal for policy purposes. In all these phases of a research program Verdoorn showed a high level of inventivity. A combination of rigour and imagination enabled him to maintain a constant stream of high-quality publications.
The Applied Economics of Transport by Mark Taylor Pdf
This book provides an introduction and overview to nine applied financial studies on the theme of transport. The studies cover a wide range of topics, from value based trading of real assets in shipping, to the determinants of efficiency and productivity in European railways, to the market for used cars. The studies employ a variety of applied techniques across a range of countries, analysing a range of different modes of transport. This book was originally published as a special issue of Applied Economics.
Making Choices in Health by World Health Organization Pdf
"The Guide, in Part I, begins with a brief description of generalized CEA and how it relates to the two questions raised above. It then considers issues relating to study design, estimating costs, assessing health effects, discounting, uncertainty and sensitivity analysis, and reporting results. Detailed discussions of selected technical issues and applications are provided in a series of background papers, originally published in journals, but included in this book for easy reference in Part II." (from the back cover).
The Dictionary of Health Economics, Second Edition by Anthony J. Culyer Pdf
''Another masterpiece in health economics from a doyen in the field, this expanded and updated dictionary will undoubtedly become a standard reference work for scholars, practitioners and others working in this area. The definitions are concise, the coverage is comprehensive, the cross-referencing is excellent, and the subject and name indexes greatly assist navigation of this substantial tome. You will want to keep this one within arm''s reach.'' Jim Butler, Australia National University ''Health economics and health service research as well as health care policy, delivery and finance rely on a dizzying array of terms drawn from a diverse set of disciplines including (but not limited) to economics, epidemiology, risk science and statistics. Moreover, the health and health care systems are replete with acronyms and specialized institutions. The Dictionary of Health Economics provides the most comprehensive set of definitions and explanations of these terms available. It is a fantastic resource for anyone working in any health related field.'' Michael Chernew, Harvard Medical School, US ''This dictionary is unique. What other dictionary borders on being an enjoyable read? Its breadth is quite astonishing. It is also very clearly a health economics dictionary and will allow those in mainstream economics, in the other social sciences and in health sciences and health care to understand and be better able to communicate with health economists. It will also be a most useful addition to the bookshelves of health economists like myself.'' Gavin Mooney, University of Sydney, Australia ''This book is a welcome addition for graduate students or professionals interested in the taxonomy of health care.'' David Cutler, Harvard University, US ''Health economics is at the crossroads of medicine, economics, statistics, insurance, and the law. This often makes for difficult reading. But help is now available thanks to this amazingly comprehensive Dictionary of Health Economics. I for one ran into several entries that I did not or did not fully understand, but the very clear explanations changed that within a few moments! This Dictionary is a true service to the scientific community.'' Peter Zweifel, University of Zurich, Switzerland ''The Dictionary provides a comprehensive overview and authoritative yet accessible explanation of important terms and concepts from the increasingly important field of health economics. This excellent work will enable many entering this field, students and professionals alike, to quickly yet thoroughly grasp the meaning of the health economics jargon, facilitating study and (multi-disciplinary) co-operation. Anthony Culyer is sharing his impressive knowledge in this field in a clear and user-friendly fashion, hopefully to the benefit of many readers.'' Werner Brouwer, Erasmus University Rotterdam, the Netherlands ''An essential book to steer the student away from a minefield of inaccurate and woolly definitions and an important resource of the practitioner of health economics. A book that offers the reader accuracy and rigour in the definitions it provides of key terms in health economics alongside ready access.'' John Brazier, University of Sheffield, UK This second edition of Culyer''s authoritative Dictionary of Health Economics brings the material up to date and adds large amounts of new information. Some definitions have been revised. There are over 700 new entries. The Dictionary now also contains extensive references to the literature to identify original source material or to provide illustrations of the headword in use. The bibliography comprises some 1,000 items. In view of the huge growth in cost-effectiveness studies and the continuing variability in their quality, an appendix lists 100 high quality cost-effectiveness studies from all parts of the world. There are now many more entries and references relating to the developing world. New and separate subject and name indices provide supplementary means of searching the material and identifying individuals who have contributed significantly to the oeuvre.
The Dictionary of Health Economics, Third Edition by Anthony J. Culyer Pdf
This third edition of Anthony Culyer�s authoritative The Dictionary of Health Economics brings the material right up to date as well as adding plentiful amounts of new information, with a number of revised definitions. There are now nearly 3,000 entrie
Author : International Labour Office Publisher : International Labour Organization Page : 578 pages File Size : 46,9 Mb Release : 2004-08-25 Category : Business & Economics ISBN : 922113699X
Consumer Price Index Manual by International Labour Office Pdf
The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.
Author : Murray F. Foss,Marilyn E. Manser,Allan H. Young Publisher : University of Chicago Press Page : 404 pages File Size : 47,5 Mb Release : 2007-12-01 Category : Business & Economics ISBN : 9780226257327
Price Measurements and Their Uses by Murray F. Foss,Marilyn E. Manser,Allan H. Young Pdf
In an economy characterized by frequent change in technology, in the types of goods and services purchased, and in the forms of business organization, keeping track of price change continues to pose many difficulties. Price change affects the way we perceive changes in such basic measures as real output, productivity, and living standards. This volume, which brings together academic economists with those responsible for official price indexes, presents outstanding new research on price measurement. Half of the papers focus on prices for mainframe and personal computers, semiconductors, and other high-tech products, using mainly hedonic techniques. The volume includes a panel discussion by distinguished economists about the theoretical and practical considerations of how best to measure price change of capital goods whose quality is changing rapidly. The authors also present new research on more conventional but still unsettled problems in the price field affecting both the consumer and producer price indexes of the Bureau of Labor Statistics.
Privatizing Educationis a collection of essays written by such luminaries as Martin Carnoy, Christopher Connell, Wendy Connors, Fred Doolittle, Pearl Rock Kane, Frank Kemerer, Christopher Lauricella, Arthur Levine, Ellen Magenheim, Patrick McEwan, Lee D. Mitgang, David Myers, Gary Natriello, Caroline Persell, Mark Schneider, Janelle Scott, Geoffrey Walford, and Amy Stuart Wells who examine the efforts of some educators, reformers, investors, and political groups to move education from the public to the private sector. This is occurring through tuition tax credits, voucher initiatives, and for-profit, educational management organizations. The volume grows out of a conference that took place at Columbia University's Teachers College which launched the National Center for the Study of Privatization in Education.
Measuring School Performance & Efficiency by Leanna Steifel Pdf
This yearbook focuses on alternative ways to measure how well schools are educating their students, delivering what parents want, and using resources efficiently.