Unique Equivalence Scales: Estimation and Implications for Distributional Analysis

1995 ◽  
Author(s):  
David S. Johnson ◽  
Thesia I. Garner
Keyword(s):  
Consumer Price Index ◽  
Equivalence Scales ◽  
Consumer Expenditure ◽  
Constant Elasticity ◽  
Scale Elasticity ◽  
Inequality Measures ◽  
Base Level ◽  
Expenditure Data ◽  
Family Types ◽  
The Us

Equivalence sales are used to adjust income by family size to obtain income distribution measures. Recently, the concept of equivalence scale elasticity has been introduced to characterize the effect that scales have on distribution measures. We produce utility-based equivalence scales that have the property of constant elasticity. By assuming a particular functional form for the scales and that the scales are independent of the base level of utility, we obtain unique equivalence scales. In contrast to previous estimates of utility-based scales, we do not restrict our sample to particular family types. We determine price-dependant scales by estimating a characteristic-dependent almost ideal demand system using quarterly expenditure data from the US Consumer Expenditure Survey and price indices from the US Consumer Price Index. We use our scales and those implicit in the US official poverty thresholds to adjust expenditures and show that these scales have similar effects on inequality measures.

Reconsideration of Weighting and Updating Procedures in the US CPI

2010 ◽  
Vol 230 (6) ◽  
Author(s):  
John S. Greenlees ◽  
Elliot Williams
Keyword(s):  
Price Change ◽  
Index Formula ◽  
Consumer Expenditure ◽  
Demand Model ◽  
Constant Elasticity ◽  
Constant Elasticity Of Substitution ◽  
The Us ◽  
Current Price ◽  
One Year ◽  
Bureau Of Labor Statistics

SummaryIn 2002, the US Bureau of Labor Statistics (BLS) introduced a supplemental C-CPI-U employing a superlative formula to provide a closer approximation to a cost-of-living index (COLI). This paper focuses on whether the BLS can improve upon the headline CPI-U’s current biennial weight update process, thereby reducing the CPI-U’s growth rate and bringing the index closer to the C-CPI-U.We begin by estimating superlative price indexes for 1999 through 2007 along with indexes based on the constant-elasticity-of-substitution demand model. Our analyses confirm that the consumer expenditure data underlying the CPI imply substantial consumer substitution, implying that the CPI-U’s Lowe index formula yields higher inflation estimates than would a true COLI.Simulating feasible weight update processes, we find that a Lowe index with two-year weight reference periods but annual updating rises by about 0.03 percentage points less per year than the CPI-U. Another 0.01 percentage point on average is subtracted by imposing annual revision with one-year base periods. Thus, indexes with more timely weights may offer improved representation of current price change, as well as closer approximations to a COLI.

Prison, Subordination, Inequality: Again on a Marxist Perspective

2021 ◽  
pp. 301-324
Author(s):  
Dario Melossi
Keyword(s):  
Economic Development ◽  
Social Hierarchy ◽  
Capitalist Development ◽  
Economic Cycles ◽  
Inequality Measures ◽  
Class Composition ◽  
Long Run ◽  
The Social ◽  
The Us ◽  
The Relationship

This Chapter advances two claims which are related and sustain each other. The first is that in the contemporary “post-Fordist” world, the coupling of imprisonment and production persists in a relationship, if not between “the prison” and “the factory” – as Dario Melossi and Massimo Pavarini wrote 40 years ago – rather between “the prison” and “subordination”, because what all the multiple forms of “labor” and “non-labor” have in common – and have in common with the origins of protoindustrial capitalism – is subordination. The second is that the traditional reading of the “Rusche and Kirchheimer hypothesis” on the relationship between economic cycles and imprisonment depends on the specific conjuncture and class composition of the capitalist social formation to which it is applied. One thing is economic development in the period of Fordist mass industry and another in the globalized and fragmented labor market of neo-liberalism. Often imprisonment promotes phases of capitalist development rather than crises and recessions. Furthermore, subordination and inequality are strictly linked and feed on each other. Inequality promotes subordination, by putting the squeeze on those who are at the bottom of the social hierarchy; but subordination at the same time promotes inequality, by making sure that those who occupy those bottom positions, stay there. One strong link in the chain of subordination to inequality is penality, because penality reinforces inequality by reaffirming subordination. Data about long-run empirical relationships between imprisonment rates and inequality measures for the US and Italy are discussed.

Asset concentration in the US agricultural balance sheet: a relative information approach

2018 ◽  
Vol 78 (4) ◽  
pp. 497-512
Author(s):  
Gulcan Onel ◽  
Jaclyn Kropp ◽  
Charles B. Moss
Keyword(s):  
Real Estate ◽  
Balance Sheet ◽  
State Level ◽  
United States Department ◽  
Factor Productivity ◽  
Content Type ◽  
Inequality Measures ◽  
The Us ◽  
The Usa ◽  
Real Estate Prices

Purpose Over the past four decades, real values of farm real estate and the share of assets on farmers’ balance sheets attributed to farm real estate have increased. The purpose of this paper is to examine the factors that explain the concentration of the US agricultural balance sheet around a particular asset, farm real estate, and the extent to which the degree of asset concentration varies across United States Department of Agriculture production regions. Design/methodology/approach State-level data from 48 states and entropy-based inequality measures are used to examine changes in asset distributions (real estate vs non-real estate assets) both within and between regions over time. Findings The agricultural balance sheet is found to concentrate into real estate in the USA over the period 1960-2003 with the rate of concentration varying across production regions. In some regions, the concentration is mainly due to changes in real estate prices, while in other regions concentration is also driven by changes in real estate holdings or changes in total factor productivity. Originality/value This study formally estimates the degree to which the concentration of balance sheet items can be explained by the observed changes in farm real estate prices relative to observed changes in agricultural factor productivity or changes in farm real estate holdings. The computed regional differences in asset concentration and its main drivers have implications for changes in equity and solvency positions of farmers as well as agricultural lenders’ risk exposure.

Growth and Distribution Effects of Changes in Levels of Living in Rural India: A Decomposition Analysis

2020 ◽  
Vol 14 (3) ◽  
pp. 407-423
Author(s):  
Jayanta Sen
Keyword(s):  
Rural Areas ◽  
Decomposition Analysis ◽  
National Sample ◽  
Sample Survey ◽  
Growth Effect ◽  
Farm Income ◽  
Consumer Expenditure ◽  
Indian States ◽  
Expenditure Data ◽  
Physical Infrastructure

This article deals with the changing pattern of levels of living in the rural regions of India during the period of 1993–1994 to 2011–2012 which also corresponds to the on-going economic reforms. These changes may be attributed either to the change in growth component or to the change in equity component or to both. The article therefore examines the effects of growth and distribution components on the variations in levels of living and their relative roles by a scheme of algebraic decomposition. It also investigates the influence of socio-economic factors on levels of living using econometric models. National Sample Survey Organisation consumer expenditure data for 15 major states of India are used for this analysis. Results show an improvement in levels of living (actual) in rural areas of all Indian states. Positive growth effect more than compensates the negative distribution effect and yield positive changes in some of the states. Further, this article argues that the main drivers of this positive change in the levels of living are development of rural physical infrastructure, attainment in education, farm income per capita, non-farm employment and livelihood diversification.

Cost Impact of Switching Histamine2-Receptor Antagonists to Nonprescription Status

2002 ◽  
Vol 36 (7-8) ◽  
pp. 1135-1141 ◽  
Author(s):  
Michelle D Furler ◽  
Mark S Rolnick ◽  
Kathleen S Lawday ◽  
Miranda W Mak ◽  
Thomas R Einarson
Keyword(s):  
Market Share ◽  
Insurance Coverage ◽  
Consumer Price Index ◽  
Population Data ◽  
Status Change ◽  
Prescribing Practices ◽  
Receptor Antagonists ◽  
The Us ◽  
The Uk ◽  
The Impact

BACKGROUND: There is a recent trend to switching medications from prescription to nonprescription status. Often, such switches are accompanied by dramatic changes in utilization due to increased availability or decreased insurance coverage. The histamine2-receptor antagonists (H2RAs) underwent such status change in the UK in 1994, the US in 1995, and Canada in 1996. OBJECTIVE: To examine the impact of the status change for H2RAs on the market for gastrointestinal (GI) agents in the US, UK, and Canada. METHODS: IMS market sales data from 1992 to 1997 were procured. All costs were converted to 1997 US dollars using the consumer price index. Per capita sales figures were determined using population data from the US Census Bureau's International Database. RESULTS: Overall spending on GI remedies increased in all 3 markets between 1992 and 1997; however, the contribution of prescription sales and number of prescriptions varied across the 3 countries. An increased market share for nonprescription H2RAs occurred in the US, correlating with a decline in prescription numbers for GI remedies. The opposing trend occurred in the UK, where market share of nonprescription H2RAs was minimal and use of prescription H2RAs increased. Prescription and nonprescription H2RA sales could not be differentiated for Canada. CONCLUSIONS: The impact of the H2RA status change varied across countries. Differences in utilization may be attributed to many factors such as differing healthcare systems, patient convenience, and physician prescribing practices. Further research is required to identify the reasons for differences in utilization and to quantify the potential clinical impact.

COMPARISON OF ARIMA, TRANSFER FUNCTION AND VAR MODELS FOR FORECASTING CPI, STOCK PRICES, AND INDONESIAN EXCHANGE RATE: ACCURACY VS. EXPLAINABILITY

2020 ◽  
Vol 13 (1) ◽  
pp. 1-12
Author(s):  
Taly Purwa ◽  
Ulin Nafngiyana ◽  
Suhartono Suhartono
Keyword(s):  
Exchange Rate ◽  
Transfer Function ◽  
Stock Prices ◽  
Consumer Price Index ◽  
Multivariate Methods ◽  
Fiscal Policies ◽  
Macroeconomic Variables ◽  
Method Transfer ◽  
Accuracy Comparison ◽  
The Us

The Consumer Price Index (CPI), stock prices and the rupiah exchange rate to the US dollar are important macroeconomic variables which their movements show the economic performance and can affect the monetary and fiscal policies of Indonesia. This makes forecasting effort of these variables become important for policy planning. While many previous studies only focus on examining the effect among macroeconomic variables, this study uses ARIMA (univariate method), transfer function and VAR (multivariate methods) to measure the forecasting accuracy and also observing the effect between these macroeconomic variables. The results showed that the multivariate methods gave better explanation about the relationship between variables than the simple one. Otherwise, the results of accuracy comparison showed that the multivariate methods did not always yield better forecast than the simple one, and these conditions in line with the results and conclusions of M3 and M4 competition.

Family Size Equivalence Scales and Survey Evaluations of Income and Well-Being

1989 ◽  
Vol 18 (3) ◽  
pp. 383-408 ◽  
Author(s):  
Bruce Bradbury
Keyword(s):  
Family Size ◽  
Well Being ◽  
Horizontal Equity ◽  
Equivalence Scales ◽  
Social Surveys ◽  
Subjective Evaluations ◽  
Family Types ◽  
The Relationship

ABSTRACTThe determination of the different needs of families of different compositions is necessary in order to ensure horizontal equity in tax/transfer policies. Despite the seeming simplicity of the problem, a consensus as to the appropriate means of determining relative need remains elusive. One approach which has been proposed has been to use social surveys to analyse the relationship between subjective evaluations of well-being and incomes. This paper examines such methods, and discusses the key assumptions upon which they rest. An explanation is advanced as to why these methods may lead to an understatement of the differences in relative needs of different family types.

scholarly journals Changes in Medicare Physician Reimbursement for Stroke Procedures from 2000 to 2019

2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Andrew R Pines ◽  
Jack M Haglin ◽  
Bart M Demaerschalk
Keyword(s):  
Consumer Price Index ◽  
Stroke Care ◽  
International Classification Of Diseases ◽  
Rate Of Change ◽  
Medicare Reimbursement ◽  
The Us ◽  
Classification Of Diseases ◽  
Icd 10 ◽  
Student’S T ◽  
Economic Analyses

ABSTRACT BACKGROUND There is limited data regarding financial trends for procedural reimbursement in stroke care. A comprehensive understanding of such trends is important as continued progress is made to advance agreeable reimbursement models in the care of stroke patients. OBJECTIVE To evaluate monetary trends in Medicare reimbursement rates for commonly utilized procedures in stroke care from 2000 to 2019. METHODS The Centers for Medicare & Medicaid Services was queried for the included Current Procedural Terminology (CPT) codes and reimbursement data were extracted. The CPT codes compiled were the most commonly performed procedures for stroke-related International Classification of Diseases (ICD)-10 codes at our institution (I60-I63). Additionally, data were collected for alteplase and telestroke codes. The rate of change between procedures was compared utilizing an unpaired Student's t-test. All monetary data were adjusted for inflation to 2019 US dollars utilizing the US Consumer Price Index. RESULTS After adjusting for inflation, the average reimbursement for stroke (ICD I60-I63) procedures decreased by 11.2% from 2000 to 2019 (average of −0.43% per year). The adjusted reimbursement rate for included telestroke codes decreased by 12.1% from 2010 to 2019 (average of −1.4% per year). From 2005 to 2019, the reimbursement for alteplase rose by 163.98% (average of +7.3% per year). CONCLUSION When adjusted for inflation, Medicare reimbursement for common stroke procedures has decreased from 2000 to 2019. In contrast, reimbursement for alteplase has increased markedly. It is important to be aware of these trends in order to contextualize healthcare economic analyses and inform discussions.

NEW EVIDENCE ON CONSUMER SPENDING ON GAMBLING

2013 ◽  
Vol 4 (2) ◽  
pp. 79-100 ◽  
Author(s):  
Brad Humphreys
Keyword(s):  
Hurdle Model ◽  
Ratio Test ◽  
Consumer Expenditure ◽  
Explanatory Variables ◽  
Double Hurdle Model ◽  
The Us ◽  
Gambling Expenditure ◽  
Empirical Regularities ◽  
Double Hurdle ◽  
Using Data

Characteristics of households who participate in gambling markets in the US, and the determinants of household expenditure on gambling, are investigated using data from the Consumer Expenditure Survey (CEX). I estimate empirical models of participation in gambling markets and gambling expenditure using Tobit and double hurdle estimators. A likelihood ratio test rejects Tobit in favor of the double hurdle model. The double hurdle model estimates show that key explanatory variables affect participation and expenditure with different signs. Tobit, which is widely used in the literature, forces the signs to be identical, calling into question empirical regularities reported in this literature.

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