Journal of Economic and Social Measurement - Volume 33, issue 2,3
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ISSN 0747-9662 (P)
ISSN 1875-8932 (E)
The Journal of Economic and Social Measurement (JESM) is a quarterly journal that is concerned with the investigation of all aspects of production, distribution and use of economic and other societal statistical data, and with the use of computers in that context. JESM publishes articles that consider the statistical methodology of economic and social science measurements. It is concerned with the methods and problems of data distribution, including the design and implementation of data base systems and, more generally, computer software and hardware for distributing and accessing statistical data files. Its focus on computer software also includes the valuation of algorithms and their implementation, assessing the degree to which particular algorithms may yield more or less accurate computed results. It addresses the technical and even legal problems of the collection and use of data, legislation and administrative actions affecting government produced or distributed data files, and similar topics.
The journal serves as a forum for the exchange of information and views between data producers and users. In addition, it considers the various uses to which statistical data may be put, particularly to the degree that these uses illustrate or affect the properties of the data. The data considered in JESM are usually economic or social, as mentioned, but this is not a requirement; the editorial policies of JESM do not place a priori restrictions upon the data that might be considered within individual articles. Furthermore, there are no limitations concerning the source of the data.
Abstract: Using the internal March CPS, we create and in this paper distribute to the larger research community a cell mean series that provides the mean of all income values above the topcode for any income source of any individual in the public use March CPS that has been topcoded since 1976. We also describe our construction of this series. When we use this series together with the public use March CPS, we closely match the yearly mean income levels and…income inequalities of the US population found using the internal March CPS data.
Keywords: Inequality, income, earnings, Current Population Survey, Gini coefficient, topcoding, and cell means
Abstract: We use micro data for 10,318 plants to estimate elasticities of substitution between energy and capital. We find that energy and capital are substitutes. We also find that estimates of Allen elasticities of substitution – a standard measure of substitution – are sensitive to varying data sets and levels of aggregation. In contrast, estimates of Morishima elasticities of substitution – which are theoretically superior to the Allen elasticities – are more robust. We conclude that micro…data provide more accurate elasticity estimates than those obtained from aggregate data and the Morishima elasticities are the preferred measure of factor substitution.
Abstract: Accurate description of the distribution of housing units within sub-County geographies is an important component of small-area population estimation. This paper pilots the use of the Pearl-Reed logistic model to predict housing unit growth in urban Census tracts in Bernalillo County, New Mexico for 2007. The model is based upon 1990 to 2000 growth rates, constrained with respect to a priori estimates of an upper-limit of housing units that could potentially be built within a tract…based on its land area. In spite of the simplistic nature of this model, it is found to perform quite well. Further development based on incorporation of additional economic, demographic, and sociologic data would likely improve the model substantially; however, in this study the model out-performed standard trend extrapolation procedures for the study area and displayed error measures comparable to those reported in the literature for extrapolation methods in general.
Keywords: Small-area population estimates, Pearl-Reed model, housing unit method, census tracts
Abstract: It is well known that the use of chained indices in economic accounting systems leads to volume figures (deflated nominal values) that are inherently non-additive. This inconvenience for users is caused by a mathematical impossibility result. Recognizing this state of affairs, in this article a deflation method will be developed that uses chained indices of a certain functional form but leads to volume figures that exhibit additivity and can be nicely interpreted.
Keywords: National accounts, additivity, chained indices
Abstract: In a two-part paper, we apply to the Mexican economy the methodology of forecasting at mixed frequencies developed by Klein and Kushnirsky . We construct two macroeconometric models for Mexico – high frequency, with monthly observations, and low frequency, with annual observations. For each model we provide a description of the data, their sources, and methods of computation. The equations of the high frequency model follow the stages of the calculation of Mexico's GDP using two…parallel approaches, output and expenditure, and averaging the results. The equations of the low frequency model are grouped into three blocks: production, consumption, and investment; foreign direct investment and trade; and wages, prices, and finance. Our methodology demonstrates how the high frequency model can be used for periodic adjustments of selected key indicators in the low frequency model, especially fixing initial conditions for the dynamics of the low frequency model so that it may be extrapolated a few years into the future. The methodology includes a theoretical foundation, methods for the adjustment of model structures and properties, procedures for achieving mutually consistent solutions, and step-by-step applications.