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Book part
Publication date: 1 January 2014

Rolf Aaberge and Ugo Colombino

Abstract

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Handbook of Microsimulation Modelling
Type: Book
ISBN: 978-1-78350-570-8

Open Access
Article
Publication date: 30 September 2019

Victor Motta

The purpose of this study is to account for a recent non-mainstream econometric approach using microdata and how it can inform research in business administration. More…

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Abstract

Purpose

The purpose of this study is to account for a recent non-mainstream econometric approach using microdata and how it can inform research in business administration. More specifically, the paper draws from the applied microeconometric literature stances in favor of fitting Poisson regression with robust standard errors rather than the OLS linear regression of a log-transformed dependent variable. In addition, the authors point to the appropriate Stata coding and take into account the possibility of failing to check for the existence of the estimates – convergency issues – as well as being sensitive to numerical problems.

Design/methodology/approach

The author details the main issues with the log-linear model, drawing from the applied econometric literature in favor of estimating multiplicative models for non-count data. Then, he provides the Stata commands and illustrates the differences in the coefficient and standard errors between both OLS and Poisson models using the health expenditure dataset from the RAND Health Insurance Experiment (RHIE).

Findings

The results indicate that the use of Poisson pseudo maximum likelihood estimators yield better results that the log-linear model, as well as other alternative models, such as Tobit and two-part models.

Originality/value

The originality of this study lies in demonstrating an alternative microeconometric technique to deal with positive skewness of dependent variables.

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RAUSP Management Journal, vol. 54 no. 4
Type: Research Article
ISSN: 2531-0488

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Article
Publication date: 13 November 2009

Reinhard Hujer, Paulo J.M. Rodrigues and Katja Wolf

The paper aims to present an analysis of the indirect and direct effects of active labour market policy measures at the regional level for Western Germany.

Abstract

Purpose

The paper aims to present an analysis of the indirect and direct effects of active labour market policy measures at the regional level for Western Germany.

Design/methodology/approach

Most evaluation studies of active labour market policy focus on the microeconometric treatment effect using individual data and do not account for possible indirect effects like deadweight and substitution effects. The present study uses a dynamic specification of the augmented matching function at the regional level. A dynamic panel data model is estimated using monthly and regional variation of different labour market programmes as explanatory variables. Furthermore, spatial interactions are taken into account by adding a spatially correlated error term.

Findings

Almost no significant negative effects are found of the stock of participants in programmes of labour market policy on the number of outflows from unemployment into regular jobs. Thus, contrary to findings at the individual level, no lock‐in effect is found. The number of programme participants does not reduce the number of outflows from unemployment. On the other hand when looking not at the stocks but on the outflows from programmes, no positive effects on outflows from unemployment at the regional level are found.

Research limitations/implications

Because of data limitations only a period up to six months after completing a programme is used.

Originality/value

The authors distinguish between the effects of the stock of programme participants and of the outflows from programmes. Furthermore, the authors account for spatially correlated error terms by using a GM estimator proposed by Mutl in 2006.

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International Journal of Manpower, vol. 30 no. 7
Type: Research Article
ISSN: 0143-7720

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Book part
Publication date: 21 February 2008

Marco Caliendo, Reinhard Hujer and Stephan L. Thomsen

In this chapter, we evaluate the employment effects of job-creation schemes (JCS) on the participating individuals in Germany. JCS are a major element of active labour…

Abstract

In this chapter, we evaluate the employment effects of job-creation schemes (JCS) on the participating individuals in Germany. JCS are a major element of active labour market policy in Germany and are targeted at long-term unemployed and other hard-to-place individuals. Access to very informative administrative data of the Federal Employment Agency justifies the application of a matching estimator and allows us to account for individual (group-specific) and regional effect heterogeneity. We extend previous studies for Germany in four directions. First, we are able to evaluate the effects on regular (unsubsidised) employment. Second, we observe the outcomes of participants and non-participants for nearly three years after the programme starts and can therefore analyse medium-term effects. Third, we test the sensitivity of the results with respect to various decisions that have to be made during implementation of the matching estimator. Finally, we check if a possible occurrence of a specific form of ‘unobserved heterogeneity’ distorts our interpretation. The overall results are rather discouraging, since the employment effects are negative or insignificant for most of the analysed groups. One exception are long-term unemployed individuals who benefit from participation at the end of our observation period. Hence, one policy implication is to address the programmes to this problem group more closely.

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Modelling and Evaluating Treatment Effects in Econometrics
Type: Book
ISBN: 978-0-7623-1380-8

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Book part
Publication date: 26 October 2011

Evans Jadotte

Purpose – This chapter investigates vulnerability to poverty in the Republic of Haiti.Methodology – We use a hierarchical modeling technique to allow the assessment and…

Abstract

Purpose – This chapter investigates vulnerability to poverty in the Republic of Haiti.

Methodology – We use a hierarchical modeling technique to allow the assessment and decomposition of vulnerability to poverty by exploiting the short-panel structure of nested data in a cross section.

Originality – Specifically, a three-level hierarchical model with a partially Bayesian restricted maximum likelihood is used in the estimation procedure. This is novel in this literature.

Findings – The decomposition method adopted in this chapter reveals that vulnerability in the Republic of Haiti is largely a rural phenomenon and is correlated negatively with schooling. The results also disclose the lack of equality in various aspects of circumstances or opportunities, including education, as the salient factor determining the status and level of vulnerability of households. Most importantly, among the different shocks affecting household's income, it is found that meso-level shocks are in general far more important than covariate shocks. This finding points to some interesting policy implications in terms of decentralizing policies and delegating more powers and providing better means to local governments to enhance household resilience to shocks and to alleviate their vulnerability to poverty.

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Inequality of Opportunity: Theory and Measurement
Type: Book
ISBN: 978-1-78052-035-3

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Article
Publication date: 1 October 2001

Eduardo Tomé

Compares the evaluation methods of vocational training public programs. Studies the US case, the other national cases (mostly OECD countries), and the European Union case…

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Abstract

Compares the evaluation methods of vocational training public programs. Studies the US case, the other national cases (mostly OECD countries), and the European Union case. Suggests that OECD countries, and especially the EU, should follow the US trend, and make impact microeconometric studies, in order to assess the training effects of those programs; thus, it will be possible to conduct better policies, and to spend public money in better ways. Additionally tries to explain why the USA is much more advanced in those studies than the EU and other countries; links the reasons to scientific history and to the administrative actions. Finally, presents some ideas about the Portuguese case, which is a fine example of the problem.

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Journal of European Industrial Training, vol. 25 no. 7
Type: Research Article
ISSN: 0309-0590

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Article
Publication date: 1 December 2003

Patrick A. Puhani

Analyses Polish active labour market policy programmes (ALMP) from a macroeconomic (regional) point of view. The effects of training programmes on the outflows from…

Abstract

Analyses Polish active labour market policy programmes (ALMP) from a macroeconomic (regional) point of view. The effects of training programmes on the outflows from unemployment into employment and the effects of all ALMP programmes on the outflows from employment into unemployment (to identify displacement effects) are estimated. The empirical evidence gives no support to the view that public training programmes can be used to reduce unemployment, and there is no robust evidence for displacement effects by any ALMP programme. The result that start‐up loans can reduce flows from employment into unemployment is only weakly significant.

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International Journal of Manpower, vol. 24 no. 8
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 27 July 2012

Konstantinos Drakos

The purpose of this paper is to investigate whether there are any differences in the capitalization speed‐of‐adjustment across regulatory capitalization buckets of…

Abstract

Purpose

The purpose of this paper is to investigate whether there are any differences in the capitalization speed‐of‐adjustment across regulatory capitalization buckets of commercial banks in the USA, for the period 2002‐2009.

Design/methodology/approach

The Federal Deposit Insurance Corporation (FDIC) monitors banks' capital ratio using the bucketing approach. Thus, this discrete and ordered variable is modeled in the context of a partial adjustment specification, controlling for initial conditions and cross‐sectional heterogeneity. Parameters are estimated with the generalized dynamic random effects ordered probit technique that is flexible enough to allow for differential effects of covariates across capitalization categories.

Findings

The main result is that the speed of adjustment is monotonically increasing for banks belonging in lower capitalization buckets, after controlling for bank‐specific capitalization determinants. In addition, substantial differential impacts of capitalization drivers across regulatory buckets are uncovered.

Practical implications

This an important finding both for regulators and market participants since it sheds light on a very crucial aspect of banks' behaviour.

Originality/value

This is the first paper that adopts the FDIC bucketing in the actual modelling. In addition, it uses the generalized dynamic random effects ordered probit technique in order to explore potential differential impact of capital ratio determinants across buckets.

Details

Journal of Financial Economic Policy, vol. 4 no. 3
Type: Research Article
ISSN: 1757-6385

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Book part
Publication date: 21 February 2008

Jaap H. Abbring

This paper studies the event-history approach to microeconometric program evaluation. We present a mixed semi-Markov event-history model, discuss its application to…

Abstract

This paper studies the event-history approach to microeconometric program evaluation. We present a mixed semi-Markov event-history model, discuss its application to program evaluation, and analyze its empirical content. The results of this paper provide fundamental insights into what can be learned from longitudinal microdata about, for example, the effects of training programs for the unemployed on their unemployment durations and subsequent job stability. They can guide the choice of particular models and methods for the empirical analysis of such effects.

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Modelling and Evaluating Treatment Effects in Econometrics
Type: Book
ISBN: 978-0-7623-1380-8

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Book part
Publication date: 19 November 2012

Chuck Davenport, John Norkus and Michael Simonetto

When linked to human behavior and executed effectively, value-based pricing represents the most effective lever that a company has at its disposal to maximize…

Abstract

When linked to human behavior and executed effectively, value-based pricing represents the most effective lever that a company has at its disposal to maximize profitability. The ability to integrate sophisticated analytics and market research in order to sell a customer the right product (and value) at the right price will drive profitability far more effectively and sustainably than other business initiatives (Marn & Rosiello, 1992, p. 84). This chapter addresses the use of analytics to determine where value resides and how to turn that analysis into an effective platform for pricing decisions. Organization-wide involvement in pricing is essential. A company must provide those persons responsible for pricing – including finance and sales persons – with information regarding the levers they can pull in the product transaction execution. Statistical business analytical software enables companies to apply microeconometrics (analytical and statistical capabilities) for the pricing and selling of products. The pricing waterfall helps companies understand where they can increase profits by using the pocket price and pocket margin to gain insights into which customer relationships can be more profitable than others. By examining the transaction structure, behavioral segmentation, and price optimization (three dimensions of the Analytics Triad), a company can conceive the full value proposition for groups of customers. An effective process and technology infrastructure that enables granular data development and analysis will help enable accurate and timely pricing decisions.

Details

Visionary Pricing: Reflections and Advances in Honor of Dan Nimer
Type: Book
ISBN: 978-1-78052-996-7

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