Journal of Economic and Social Measurement - Volume 45, issue 1

Authors: Mirzaei Abbasabadi, Hamed | Ghaemi Asl, Mahdi

Article Type: Research Article

Abstract: This article aims at investigating the significant higher education expansion in the Islamic Republic of Iran during 2005–2015 period through employing the production function of higher education. Avoiding simultaneity and selection problems in the presence of shocks, we have used a novel method from industrial organization discipline introduced by Rovigatti and Mollisi [1 ] – which is officially offered embeded in a Stata ® module – by providing different production function estimators (Olley-Pakes, Levinsohn-Petrin, and Wooldridge) using provincial data on Iran. Our empirical results reveal that physical capital is the most critical determinant of higher education graduates. …The results also uncover some important facts about the contribution of academic staff to the process of graduation. Compared to other conventional estimation methods, we also provide evidence on the superiority of this innovative method, which is far beyond its original context. Show more

Keywords: Higher education, production function, productivity shocks, control function

DOI: 10.3233/JEM-200470

Citation: Journal of Economic and Social Measurement, vol. 45, no. 1, pp. 1-64, 2020

Authors: Fagereng, Andreas | Holm, Martin Blomhoff | Torstensen, Kjersti Næss

Article Type: Research Article

Abstract: We provide a new estimate of household-level housing wealth in Norway between 1993 and 2015 using an ensemble machine learning method on housing transaction data. The new housing wealth measure is an improvement over existing data sources for two reasons. First, the model outperforms previously applied regression models in out-of-sample prediction precision. Second, we extend the sample of estimated housing wealth by including cooperative units, non-id apartments, and cabins.

Keywords: Machine learning, housing wealth, house prices

DOI: 10.3233/JEM-200471

Citation: Journal of Economic and Social Measurement, vol. 45, no. 1, pp. 65-81, 2020

Authors: Menezes, Paula | Pastoris, Fausto | Picon-Aguilar, Carmen | Schmitz, Martin | Silva, Nuno | Tissot, Bruno

Article Type: Research Article

Abstract: Globalisation is posing important challenges to external statistics, which have been reinforced in recent decades by rapid digital innovation, the complexity and limited transparency of multinational corporate structures, and the increased importance of global financial centres. Examples of such challenges include the fragmentation of global production chains and the changing nature of foreign direct investment. One fundamental question is whether the multipurpose analytical tool provided by external statistics should be simply adapted or radically transformed to address these issues. The experience of central banks shows that a number of alternative ways can be effectively developed in the medium term to …adapt the current external statistics framework, especially by: collecting supplementary data; enhancing the infrastructure supporting compilation; focusing the analysis on large and global corporate groups; presenting more granular data for the aggregates currently compiled; and revisiting the concept of foreign direct investment. Show more

Keywords: Globalisation, foreign direct investment, multinational enterprises, public policy, international statistical standards

DOI: 10.3233/JEM-200472

Citation: Journal of Economic and Social Measurement, vol. 45, no. 1, pp. 83-102, 2020