On the detection of state dependence using aggregate outflow data: comments on previous studies

Article Abstract:

The eyeball check developed by Van den Berg and Van Ours is much more sensitive in detecting state dependence in aggregate outflow data than those developed by Jackman and Layard and the model of Budd due to its use of elapsed unemployement duration, the state of the labor market and individual characteristics. The unemployment duration acccounts for state dependence pattern while the state of the labor market represents the state of business cycle which indicates the probability of exit from unemployment.

Models, Usage, Unemployment, Economic indicators

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Bringing income distribution in from the cold

Article Abstract:

The economic analysis of income distribution is recently emerging as an important focus of studies in search of answers to problems such as the extent of inequality. Current economic theories provide some insights, although minimal, into the income distribution problem. A better understanding requires a framework in which to fit the problem's different mechanisms including skill supply and demand, social customs and norms, the capital market and general equilibrium, and public choice.

Income Distribution, Research

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Public investment, congestion, and private capital accumulation

Article Abstract:

The effect of public investment on private capital formation depends on the degree of congestion. A higher elasticity of substitution is needed whenever congestion is intense to achieve increased private capital stock. On the other hand, a rise in public investment results to lowered private capital stock when the elasticity of substitution is small and the congestion is intense.

Economic aspects, Public investments, Capital formation, Capital

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