Joint tests of non-nested models and general error specifications

This paper is concerned with joint tests of non-nested models and simultaneous departures from homoskedasticity, serial independence and normality of the disturbance terms. Locally equivalent alternative models are used to construct joint tests since they provide a convenient way to incorporate more than one type of departure from the classical conditions. The joint tests represent a simple asymptotic solution to the “pre-testing” problem in the context of non-nested linear regression models. Our simulation results indicate that the proposed tests have good finite sample properties.     

CORPORATE TAX INCIDENCE AND INEFFICIENCY WHEN CORPORATE AND NONCORPORATE GOODS ARE CLOSE SUBSTITUTES

An important deficiency in Harberger's [1962] model of corporate income taxation is its inability to consider both corporate and noncorporate production of the same good. Within-industry substitution has potentially major implications for both the excess burden and incidence of the corporate tax.
We analyze this within-industry substitution using a model in which each industry/sector contains corporate and noncorporate firms (with identical production functions) which produce goods that are close substitutes. The scope for considerable within-industry substitution of noncorporate for corporate capital leads to a very much larger excess burden than that in the Harberger model.     

Adoptive parents to children with severe developmental disabilities: A profile

A sample of 16 women and men who accompanied their adopted children with severe developmental disabilities to a medical appointment at Henry Ford Hospital's Multidisciplinary Care Clinic during the one-year period beginning July 1, 1988 are described in the context of their parental role vis-a-vis these children. Results of the study are presented through use of a six-part organizational scheme: demographic and social traits of the parents and their adopted children, the adopted children in family context, life satisfactions of the parents, adoption motives, adoption satisfactions, and humanization of the children.     

log-logistic survival estimation based on failure-censored data

Approximations of the Bayesian estimators of the survival function based on the censored data of the log-logistic distribution are obtained under squared-error and log-odds squared-error loss functions. A numerical example is presented. Through a Monte Carlo simulation study, the behavior of the approximations found by Tierney & Kadane and Lindley are compared with a method suggested by Weiss & Howlader.     

Mapping water quality by local scoring

The mean density of bacteria in a water body is commonly monitored using quantal assay. This paper describes the use of local scoring in estimating the spatial distribution of mean density from quantal assay results at a set of point locations. An application to estimating the mean density of fecal conform bacteria in a coastal pond is presented. Model diagnostics based on a parametric bootstrap are also presented.     

Employment growth in high-tech new ventures

We specify and estimate a model of the early employment growth of technology-driven new ventures. Our estimated model is derived from labor demand theory. A data set of 100 German firms is used to conduct this analysis. The study’s findings support the relevance of the theory as applied to these nascent firms. Employment growth is significantly enhanced in ventures exhibiting high profits, experienced founders, formal information processes, and outsourced product distribution. Our findings also confirm aspects of Penrose’s theory of firm growth suggesting that transactions costs associated with larger founder teams may inhibit employment growth.