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See detailAdaptation to Poverty in Long-Run Panel Data
D'Ambrosio, Conchita UL; Clark, Andrew; Ghislandi, Simone

in Review of Economics and Statistics (2016), 98

We consider the link between poverty and subjective well-being, and focus in particular on potential adaptation to poverty. We use panel data on almost 54,000 individuals living in Germany from 1985 to ... [more ▼]

We consider the link between poverty and subjective well-being, and focus in particular on potential adaptation to poverty. We use panel data on almost 54,000 individuals living in Germany from 1985 to 2012 to show first that life satisfaction falls with both the incidence and intensity of contemporaneous poverty. We then reveal that there is little evidence of adaptation within a poverty spell: poverty starts bad and stays bad in terms of subjective well-being. We cannot identify any cause of poverty entry which explains the overall lack of poverty adaptation. [less ▲]

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See detailEvidence on the Insurance Effect of Redistributive Taxation
Koulovatianos, Christos UL; Grant, Charles; Michaelides, Alexander et al

in Review of Economics and Statistics (2010), 92(1), 965-973

If households face uninsurable idiosyncratic earnings risk, theory predicts that re- distributive tax and transfer systems have both an insurance and a distortionary e®ect. Exploiting the substantial ... [more ▼]

If households face uninsurable idiosyncratic earnings risk, theory predicts that re- distributive tax and transfer systems have both an insurance and a distortionary e®ect. Exploiting the substantial variation of tax and transfer systems across US states and over time we investigate the necessary traces of these two effects in the data: that state-level measures of redistributive taxation should correlate negatively with, (a) the standard deviation, and (b) the mean, of the within-state consumption distribution. We find that the first correlation is robust, supporting strongly the presence of an insurance effect. The distortionary effect can also be detected in the data but it is less precisely estimated. [less ▲]

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See detailTrends in Rainfall and Economic Growth In Africa: A Neglected Cause of the African Growth Tragedy
Barrios, Salvador; Bertinelli, Luisito UL; Strobl, Eric

in Review of Economics and Statistics (2010), 92(2), 350-366

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See detailFactor substitution and factor-augmenting technical progress in the United States: A normalized supply-side system approach
Klump, Rainer UL; McAdam, Peter; Willman, Alpo

in REVIEW OF ECONOMICS AND STATISTICS (2007), 89(1), 183-192

Using a normalized CES function with factor-augmenting technical progress, we estimate a supply-side system of the U.S. economy from 1953 to 1998. Avoiding potential estimation biases that may have ... [more ▼]

Using a normalized CES function with factor-augmenting technical progress, we estimate a supply-side system of the U.S. economy from 1953 to 1998. Avoiding potential estimation biases that may have occurred in earlier studies and putting a high emphasis on data consistency, we obtain robust results not only for the aggregate elasticity of substitution but also for the parameters of labor and capital augmenting technical change. We find that the elasticity of substitution is significantly below unity and that technical progress shows an asymmetrical pattern where the growth of laboraugmenting technical progress is exponential, while that of capital is hyperbolic or logarithmic. [less ▲]

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