{"title":"Economic growth in Greece: Medium-term trends and future prospects","authors":"S. Papaioannou","doi":"10.3233/JEM-130371","DOIUrl":"https://doi.org/10.3233/JEM-130371","url":null,"abstract":"","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"113-125"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130371","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70042631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper is a comprehensive examination of the methodological evolution of the Annual Industrial Survey from its initiation in 1958 until 2010. Emphasis is given to the compliance of the survey with international methodological standards and to its conformity to relevant widely stipulated and accepted regulations. The existing literature using AIS data highlights its contribution to studies in several fields of economic research, going beyond those concerning the manufacturing sector, as well as to policy making.
{"title":"A methodological review of the Greek Annual Industrial Survey","authors":"A. Tsakanikas, Michail Vassiliadis","doi":"10.3233/JEM-130369","DOIUrl":"https://doi.org/10.3233/JEM-130369","url":null,"abstract":"This paper is a comprehensive examination of the methodological evolution of the Annual Industrial Survey from its initiation in 1958 until 2010. Emphasis is given to the compliance of the survey with international methodological standards and to its conformity to relevant widely stipulated and accepted regulations. The existing literature using AIS data highlights its contribution to studies in several fields of economic research, going beyond those concerning the manufacturing sector, as well as to policy making.","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"57-77"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130369","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70042959","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"PPPs for SDRs? Some theoretical observations on how to normalise, capture the dynamics, and extend the application of, global purchasing power parities","authors":"U. Reich","doi":"10.3233/JEM-130373","DOIUrl":"https://doi.org/10.3233/JEM-130373","url":null,"abstract":"","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"19 1","pages":"171-185"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130373","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70043107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The multifactor productivity growth estimate published by statistical agencies should be corrected for the effect of the short run variations in capacity utilization for such estimate to be a measure of technological progress. But such correction is not normally made as the rate of capacity utilization is often not observed. This paper develops a nonparametric approach for adjusting multifactor productive growth measure for variation in capacity utilization over time. In the approach developed here, the capital utilization measure is derived from the economic theory of production and is estimated by comparing the ex-post return with the ex-ante expected return on capital. The approach offers a practical solution that can be used by statistical agencies to adjust for capacity utilization in their multifactor productivity growth measure. The nonparametric approach is implemented using the data for the manufacturing sector from the Canadian Productivity Program of Statistics Canada, and is found to correct for the bias from the variation in capacity utilization in that sector.
{"title":"Correction for variations in capacity utilization in the measurement of productivity growth: A non-parametric approach","authors":"Wulong Gu, Weimin Wang","doi":"10.3233/JEM-130380","DOIUrl":"https://doi.org/10.3233/JEM-130380","url":null,"abstract":"The multifactor productivity growth estimate published by statistical agencies should be corrected for the effect of the short run variations in capacity utilization for such estimate to be a measure of technological progress. But such correction is not normally made as the rate of capacity utilization is often not observed. This paper develops a nonparametric approach for adjusting multifactor productive growth measure for variation in capacity utilization over time. In the approach developed here, the capital utilization measure is derived from the economic theory of production and is estimated by comparing the ex-post return with the ex-ante expected return on capital. The approach offers a practical solution that can be used by statistical agencies to adjust for capacity utilization in their multifactor productivity growth measure. The nonparametric approach is implemented using the data for the manufacturing sector from the Canadian Productivity Program of Statistics Canada, and is found to correct for the bias from the variation in capacity utilization in that sector.","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"347-369"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130380","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70043434","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The size and trends of the Greek underground economy are examined over the period of 1958 to 2011. Estimates vary according to the method used and the time period under investigation. Overall, more than one quarter to one third of Greek economic activities have been either unrecorded or hidden from official statistics. Tax evasion, labour market rigidities, lack of competition and over-regulation are among the contributing factors. The underground economy is often viewed as a serious obstacle to economic growth. However, the empirical results are ambiguous. Dynamic models are explored to examine the relationship between the underground economy and economic growth. In the short run, one percentage point increase in the rate of economic growth would reduce the underground economy by 0.13, and in the long run by 1.26. The Greek Government is currently introducing structural reforms pursuing fiscal consolidation, transparency and e-governance strategies to combat tax evasion, and monitoring strategies in the statistical system to produce valid and reliable data sets.
{"title":"Dynamic aspects of the underground economy in Greece","authors":"J. Yfantopoulos","doi":"10.3233/JEM-130366","DOIUrl":"https://doi.org/10.3233/JEM-130366","url":null,"abstract":"The size and trends of the Greek underground economy are examined over the period of 1958 to 2011. Estimates vary according to the method used and the time period under investigation. Overall, more than one quarter to one third of Greek economic activities have been either unrecorded or hidden from official statistics. Tax evasion, labour market rigidities, lack of competition and over-regulation are among the contributing factors. The underground economy is often viewed as a serious obstacle to economic growth. However, the empirical results are ambiguous. Dynamic models are explored to examine the relationship between the underground economy and economic growth. In the short run, one percentage point increase in the rate of economic growth would reduce the underground economy by 0.13, and in the long run by 1.26. The Greek Government is currently introducing structural reforms pursuing fiscal consolidation, transparency and e-governance strategies to combat tax evasion, and monitoring strategies in the statistical system to produce valid and reliable data sets.","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"97-112"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130366","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70042927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article examines whether the Herfindahl-Hirschman Index (HHI) is a reliable decision-making tool of business concentration. The statistical properties of the index are considered in order to facilitate an improved statistical decision-making with the index. A misinformed application of the HHI as to its statistical characteristics has encouraged questionable uses and applications of the index. It has also limited its potential uses. Understanding the statistical nature of the HHI reveals that there is more to this index than known heretofore.
{"title":"The Herfindahl-Hirschman Index as a decision guide to business concentration: A statistical exploration","authors":"G. Djolov","doi":"10.3233/JEM-130379","DOIUrl":"https://doi.org/10.3233/JEM-130379","url":null,"abstract":"This article examines whether the Herfindahl-Hirschman Index (HHI) is a reliable decision-making tool of business concentration. The statistical properties of the index are considered in order to facilitate an improved statistical decision-making with the index. A misinformed application of the HHI as to its statistical characteristics has encouraged questionable uses and applications of the index. It has also limited its potential uses. Understanding the statistical nature of the HHI reveals that there is more to this index than known heretofore.","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"201-227"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130379","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70043252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An analysis of Greek external sector statistics and their application in academic research and economic policy making","authors":"Nancy Theofilakou, Y. Stournaras","doi":"10.3233/JEM-130368","DOIUrl":"https://doi.org/10.3233/JEM-130368","url":null,"abstract":"","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"41-56"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130368","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70042976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Identification and statistical inference using matched March CPS data, with an application to U.S. poverty dynamics","authors":"S. Feng","doi":"10.3233/JEM-130372","DOIUrl":"https://doi.org/10.3233/JEM-130372","url":null,"abstract":"","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"159-170"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130372","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70043051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The aim of this paper is to analyze the statistical properties of the Greek government deficit and debt figures compiled and reported to the European Commission since 1994 for the period 1991 to 2012. On the basis of successive revisions in reported data, it assesses the reliability of budgetary statistics and derives a number of reliability indicators. According to the standard deviations of revisions between the first outturn and final data, Greece have reported the least reliable deficit figures and have had the largest dispersion of revisions. The paper has also shown that data on the yearly changes in debt have been less reliable than those on the deficit. Whatever the cause of these findings, we believe that they create problems for users of the data.
{"title":"Are Greek government deficit and debt statistics reliable","authors":"J. Loizides","doi":"10.3233/JEM-130367","DOIUrl":"https://doi.org/10.3233/JEM-130367","url":null,"abstract":"The aim of this paper is to analyze the statistical properties of the Greek government deficit and debt figures compiled and reported to the European Commission since 1994 for the period 1991 to 2012. On the basis of successive revisions in reported data, it assesses the reliability of budgetary statistics and derives a number of reliability indicators. According to the standard deviations of revisions between the first outturn and final data, Greece have reported the least reliable deficit figures and have had the largest dispersion of revisions. The paper has also shown that data on the yearly changes in debt have been less reliable than those on the deficit. Whatever the cause of these findings, we believe that they create problems for users of the data.","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"79-95"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130367","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70042939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The measurement of inter-industry pay differentials and the resulting use of this information to assess the empirical relevance of different labor market theories have been hampered by the fact that measures of total compensation – as opposed to just wages and salaries – are not available in the datasets traditionally used. We improve upon past measures of inter-industry pay differentials by being the first, to our knowledge, to incorporate microdata on nonwage compensation. Such compensation can easily exceed 40 to 50 percent of wages and thus its inclusion may either diminish or amplify measured industry pay differences. Using the Employer Costs for Employee Compensation (ECEC) data produced by the U.S. Bureau of Labor Statistics, we find that the inclusion of benefits increases industry dispersion by 16 percent when no controls are included and by an even greater 30 percent when controls are included.
{"title":"An improved measure of inter-industry pay differentials","authors":"M. Gittleman, B. Pierce","doi":"10.3233/JEM-130378","DOIUrl":"https://doi.org/10.3233/JEM-130378","url":null,"abstract":"The measurement of inter-industry pay differentials and the resulting use of this information to assess the empirical relevance of different labor market theories have been hampered by the fact that measures of total compensation – as opposed to just wages and salaries – are not available in the datasets traditionally used. We improve upon past measures of inter-industry pay differentials by being the first, to our knowledge, to incorporate microdata on nonwage compensation. Such compensation can easily exceed 40 to 50 percent of wages and thus its inclusion may either diminish or amplify measured industry pay differences. Using the Employer Costs for Employee Compensation (ECEC) data produced by the U.S. Bureau of Labor Statistics, we find that the inclusion of benefits increases industry dispersion by 16 percent when no controls are included and by an even greater 30 percent when controls are included.","PeriodicalId":53705,"journal":{"name":"Journal of Economic and Social Measurement","volume":"38 1","pages":"229-242"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3233/JEM-130378","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70043212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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