The productivity-wage and productivity-employment nexus : a panel data analysis of Indian manufacturing

This article investigates the long-run relationship between labour productivity and employment, and between labour productivity and real wages in the case of the Indian manufacturing sector. The panel data set consists of 17 two-digit manufacturing industries for the period 1973–1974 to 1999–2001. We find that productivity-wages and productivity-employment are panel cointegrated for all industries. We find that both employment and real wages exert a positive effect on labour productivity. We argue that flexible labour market has a significant influence on manufacturing productivity, employment and real wages in the case of Indian manufacturing.

A panel regression method for quantifying the convergence of house prices

The convergence among house prices has attracted much attention from researchers. Previous research mainly utilised a time-series regression method to investigate convergences of house prices, which may ignore the heterogeneity of houses across cities. This research developed a panel regression method, by which the heterogeneity of house prices can be captured. Seemingly unrelated regression estimators were also adapted to deal with the contemporary correlations across cities. Investigation of the convergence among house prices in the Australian capital cities was carried out by using the developed panel regression method. Results suggested that house prices converge in Sydney, Adelaide and Hobart but diverge in Darwin.

New housing supply and residential construction costs in Australia : a panel ECM approach

The supply of new housing in Australia has been experiencing a low increase rate since the 1990s in conjunction with an increasingly strong housing demand. On the contrary, residential construction costs across Australia?s states maintained dramatic increases simultaneously. Economic theory suggests that new housing supply is correlated to the costs of residential constructions. However, few empirical studies have focused on examining this relationship for Australian housing markets. To comprehensively investigate the relationship between the supply of new housing and residential construction costs a function for new housing supply considering the effects of regional heterogeneities is introduced in this study. By estimating a panel error correction model (ECM) applicable for quantifying the correlation with regional heterogeneities, this research identifies that a causal link and a strong correlation exist in between new housing supply and residential construction costs in Australia.

Estimating the gravity model without gravity using panel data

This article examines the effects of zero trade on the estimation of the gravity model using both simulated and real data with a panel structure, which is different from the more conventional cross-sectional structure. We begin by showing that the usual log-linear estimation method can result in highly deceptive inference when some observations are zero. As an alternative approach, we suggest using the poisson fixed effects estimator. This approach eliminates the problems of zero trade, controls for heterogeneity across countries, and is shown to perform well in small samples.

Fiscal stringency and fiscal sustainability : panel evidence from the American state and local governments

Most state (and local) governments in the U.S. operate under formal fiscal rules which limit their ability to run budget deficits and resort to debt financing. A priori, one would expect to find evidence in favor of an intertemporally balanced budget, or fiscal sustainability, for these states, especially those characterized by a relatively high degree of fiscal stringency. We test this hypothesis for a panel of 47 state–local government units (1961–2006) using four budget balance definitions and several subsamples defined based on regional classifications, or presence of certain balanced budget requirements (BBRs). Our results, obtained from panel estimation techniques that allow for general forms of serial and cross-sectional dependence, suggest that a sufficient condition for “strong” sustainability is consistently satisfied for the full sample and all subsamples in relation to balances that include special funds and/or federal grants. However, we find evidence consistent with the “weak” version of sustainability for the full sample and some regional subsamples (particularly Far West dominated by California) in at least one of the two balances that exclude these items. Finally, the BBRs seem to matter only in relation to the sustainability of the more narrowly defined balances. We discuss the implications of these findings for the role of fiscal rules and federal grant policies.

Least squares asymptotics in spurious and cointegrated panel regressions with common and idiosyncratic stochastic trends

This article makes an analytical study of the effects of the presence of both common and idiosyncratic stochastic trends on the pooled least squares estimator. The results suggest that the usual result of asymptotic normality depends critically on the absence of the common stochastic trend.

The tax-spending nexus : evidence from a panel of US state–local governments

We re-examine the tax-spending nexus using a panel of 50 US state–local government units between 1963 and 1997. We find that, unlike tax revenues, expenditures adjust to revert back to a long-term equilibrium relationship. The evidence on the short-term dynamics is also consistent with the tax-and-spend hypothesis. One implication of this finding is that the size of the government at the state–local level is not determined by expenditure demand, but rather by resource supply. This is consistent with the fact that many US state and local governments operate under constitutional or legislative limitations that seek to constrain deficits.

Flexural vibration analysis of symmetric honeycomb panel with 4 sides simply supported

The free flexural vibration of symmetric honeycomb sandwich panel with 4 sides simply supported is analyzed by CPT (classical plate theory), FSDPT (first-order shear deformation plate theory) and TSDPT (third-order shear deformation plate theory). In the analysis the honeycomb core of cells is regarded equivalently as a layer of orthotropic material whose equivalent elastic parameters are determined by the modified Gibson's formula to deduce the equation of natural frequency of the sandwich panel. As shown by an example, the calculation of natural frequency of an aluminum honeycomb panel by use of TSDPT is higher accuracy than using either CPT or FSDPT.

On the acoustic performance of a precast panel system made from environmentally sustainable concrete : application in sports hall buildings

The use of green building materials and products promotes conservation of non-renewable resources and help reduce associated environmental impacts. This article reports the acoustical performance of a precast panel system made largely from concrete waste material. Two major applications for such panels that are being investigated currently include walls and claddings to industrial and commercial buildings and sound barriers for urban freeways. In this study, the application of the concrete panels for optimizing reverberation time (RT) in sports halls is tested using numerical simulations. As an innovative approach, additional layers are added to the precast panels to improve their appearance. The absorption coefficients of the concrete panel improved significantly with the architectural finish. The material can be tuned according to the required peak frequency. The architectural finish helped reduce the RT for frequencies above 500 Hz. Its application to different types of ceilings revealed that the RT of curved ceiling reduced up to 40% compared to flat and hybrid ceiling. A comparison of wall and ceiling modifications in small, medium and large sports halls showed that medium-sized halls have better acoustical performance compared with small and large halls with ceiling as well as wall treatment.

Research of the construction industry efficiency in China-based on DEA panel data approach

The efficiency of the construction industry is analyzed based on provinces panel data in China in this paper. The Mean Number of Employee and the Mean Completed Investment are used as inputs. The Mean Actual Sales of Commercial Houses and the Mean Net Profit are used as outputs. Data Envelopment Analysis (DEA) model is used to measure the efficiency of the construction industry. Shanghai and Zhejiang are found technically efficient. Shandong is scale efficient but technology efficiency is lower. There are two provinces are decreasing returns to scale and other provinces are increasing returns to scale. On the whole, the technology efficiency of the construction industry of China is lower. Based on the conclusions, the paper proposes some suggestions to improve the efficiency of the construction industry in China.