The Impact of the Tariff on Some Selected Products of the U.S. Iron and Steel Industry, 1870-1914
I. Introduction, 590. — II. Effective tariff rates, 591. — III. Regression studies, 600. — IV. Summary, 603. — Appendix, 604.
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International Differences in Capital-Output Ratios
The allocation of investment to particular industries is a major problem in economic projection and planning. The purpose of this paper is to examine the stability of the sectoral incremental capital-output ratios over time and their differences among countries. It is clear that the usefulness of these ratios in projecting capital requirements will depend on how stable they are, at least over the periods used in development programs. Section I examines the problem of measuring the incremental capital-output ratio and lists the factors affecting it. Section II offers the empirical results of the behavior (trend and variability) of the ratio in a number of sectors of several countries. Section III deals with the possibility of misallocation of investment even if the ratio is stable, and offers an interpretation of the findings.
Korean Rice, Taiwan Rice, and Japanese Agricultural Stagnation: An Economic Consequence of Colonialism
I. Empirical observation and hypothesis, 564. — Quantitative analysis, 574. — III. Findings and implications, 579.
Efficient Inference in a Random Coefficient Regression Model
Computes a GLS matrix weighted estimator for a panel data set. meangroup.src does a similar estimator, but uses simple weighted average rather than a matrix-weighted average. Swamy(1970), Efficient Inference in a Random Coefficient Regression Model, Econometrica, vol 38, 311-323. (This abstract was borrowed from another version of this item.)
Some Extensions of Sensitivity Analysis.
In summary, there are three basic observations: 1. If an input has a variable effect on the objective equation values and if it is fully consumed, then the basis will not change as long as its cost does not increase by an amount greater than the input's shadow price. The lower limit on the cost of such an input is-∞. If an input has the variable effect mentioned in #1 but is not fully consumed, then the limits of the change in its cost is given by the limits of the change allowed in the objective equation value of its corresponding slack variable. Thus, it may be desirable to include a known non-bottleneck resource in the model to determine the sensitivity of its cost. 3. In the set of all fully consumed inputs, simultaneous changes within the respective ranges will not cause the sensitivity analysis to be invalid.