The Italian recession of 1993: aggregate implications of microeconomic evidence
Article Abstract:
The causes of Italy's recession in 1993 have been studied using household economic data from 1984 to 1993. Consumer spending in real terms went down by 2.5% in Italy during 1993. The unforeseen recession also caused a reduction in the country's GDP by 1.2% and household disposable income by 5% for the same year. Results indicate that permanent negative shocks arising from the pension reform of 1992 and the introduction of stricter tax-compliance rules for the self-unemployed precipitated the recession.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Unanticipated aggregate disturbances and tests of the life-cycle consumption model using panel data
Article Abstract:
An analysis describing food consumption economics is presented. The analysis examines the rational expectations life-cycle hypothesis and measures it against the prevalent liquidity constraint alternative. Data based on the Panle Study of Income Dynamics was applied for forecasting. It is shown that unanticipated macroeconomic disturbances generated forecast errors which were correlated with lagged information variables.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
A panel data design for estimation of hospital cost functions
Article Abstract:
A panel data system is applied to the period of 1987-1991 in the study of the multiple-output hospital cost function. It was established that an unobservable hospital-specific result that is otherwise considered in the error is recognized and segregated. The panel data methodology used is a step forward compared with commonly used random-effects prototypes.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: On the revelation of private information in stock market economies. The graphs of the Walras correspondence: the production economies case
- Abstracts: The impact of affirmative action on labor demand: a test of some implications of the Le Chatelier principle. The demand for tax return preparation services
- Abstracts: Short-run returns to scale, farm-size, and economic efficiency
- Abstracts: A modified switching regression model for earnings differentials between the public and private sectors in the Netherlands
- Abstracts: The demand for good government. Information, health risk beliefs, and the demand for fats and oils. The demand for commodity packages: the case of telephone custom calling features