We tested the validity of the “Law of Increasing State Activities” or Wagner’s Law using time series for the U.S. state-local government (SLG) real expenditure over the period 1957-2006. This period was characterized by rising SLG total expenditure and several of its sub-categories both in absolute terms and relative to state personal income. Cointegration tests of Johansen (1991) and Pesaran, ...

We analyse changes in the Australian gas industry during 1990s that were motivated by the Hilmer Reforms. We estimate the effects on real household income of the changes by combining a computable general equilibrium model with a microsimulation model. Although the structural changes were significant in their effects on the gas industry, they are estimated to have had minor effects on real house...

• EBITDA increased 23% in real terms during the third quarter to Ps.4.463 billion. In dollar terms, EBITDA grew 34% to US$477 million during the third quarter as compared to US$355 million during the same period a year ago. EBITDA, with respect to the CEMEX Group, equals operating income before amortization expense plus depreciation. Amortization of goodwill is not included in operating income,...

In this article, we examine the market structure for real estate brokerage services across six large metropolitan statistical areas (MSAs) to see whether low-income neighborhoods, or neighborhoods where house prices are low, are as well served by real estate professionals as higher income or higher priced neighborhoods. We collect more than 300,000 real estate listings and compute the Herfindah...

Income Mobility of Individuals in China and the United States Though much has been written about annual income inequality in China, little research has been conducted on longer run measures of income inequality and on income mobility. This paper compares income mobility of urban individuals in China and the United States in the 1990s. The following questions are taken up. To what extent are mea...

This article examines the money incomes of the elderly and the nonelderly. The economic status of the elderly is put in perspective by discussing changes in real incomes since 1967 and the income of the elderly relative to the incomes of other age groups. Detailed age groups within both the elderly and nonelderly groups are examined. The article finds that the economic status of the elderly in ...

This article reinvestigates the relationship between real per capita gross domestic product (GDP) and terrorism. We devise a terrorism Lorenz curve to show that domestic and transnational terrorist attacks are each more concentrated in middle-income countries, thereby suggesting a nonlinear income-terrorism relationship. Moreover, this point of concentration shifted to lower income countries af...

Traditional indicators of protection refer to the level effect of price policies on income and ignore the stabilizing effect. We derive a measure of the real rate of protection which incorporates these dual dimensions. The income stabilizing effects of price policy protection lead to a greater level of real protection than would be measured conventionally. Without compensatory payments real pro...

In this paper, a new five-parameter lifetime and reliability distribution named “the exponentiated Uniform-Pareto distribution (EU-PD),” has been suggested that it has a bathtub-shaped and inverse bathtub-shape for modeling lifetime data. This distribution has applications in economics, actuarial modelling, reliability modeling, lifetime and biological sciences. Firstly, the mathematical and st...