Papers Containing Tag(s): 'Business Register'
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Viewing papers 131 through 138 of 138
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Working PaperEffect of Volatility Change on Product Diversification
October 2005
Working Paper Number:
CES-05-14
Studies of the volatility of the U.S. economy suggest a noticeable change in mid 1980s. There is some empirical evidence that the aggregate volatility of the U.S. economy has been decreasing over time. The response of firms to the change of economic volatility and economic fluctuation has been studied in terms of many margins a firm can adjust 'capital, labor, capacity, material, etc. However, we have not studied the most important margin ' the product. This paper studies the effect of profit volatility on the firm/plant level product diversification. Section 2 profiles diversification and shows that there is a downward trend of aggregate diversification in many industries. Cyclicality of diversification is not clear at the aggregate or industry level. Firms change their diversification very frequently and very differently from one another. Section 3 verifies the trend of volatility at the aggregate, sectoral, and firm level and studies the relationship between diversification and volatility at the firm level. Firm level diversification decreases as the aggregate, sectoral and idiosyncratic volatility decreases.View Full Paper PDF
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Working PaperMicro and Macro Data Integration: The Case of Capital
May 2005
Working Paper Number:
CES-05-02
Micro and macro data integration should be an objective of economic measurement as it is clearly advantageous to have internally consistent measurement at all levels of aggregation ' firm, industry and aggregate. In spite of the apparently compelling arguments, there are few measures of business activity that achieve anything close to micro/macro data internal consistency. The measures of business activity that are arguably the worst on this dimension are capital stocks and flows. In this paper, we document, quantify and analyze the widely different approaches to the measurement of capital from the aggregate (top down) and micro (bottom up) perspectives. We find that recent developments in data collection permit improved integration of the top down and bottom up approaches. We develop a prototype hybrid method that exploits these data to improve micro/macro data internal consistency in a manner that could potentially lead to substantially improved measures of capital stocks and flows at the industry level. We also explore the properties of the micro distribution of investment. In spite of substantial data and associated measurement limitations, we show that the micro distributions of investment exhibit properties that are of interest to both micro and macro analysts of investment behavior. These findings help highlight some of the potential benefits of micro/macro data integration.View Full Paper PDF
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Working PaperDescribing the Form 5500-Business Register Match
January 2003
Working Paper Number:
tp-2003-05
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Working PaperThe Relation among Human Capital, Productivity and Market Value: Building Up from Micro Evidence
December 2002
Working Paper Number:
tp-2002-14
This paper investigates and evaluates the direct and indirect contribution of human capital to business productivity and shareholder value. The impact of human capital may occur in two ways: the specific knowledge of workers at businesses may directly increase business performance, or a skilled workforce may also indirectly act as a complement to improved technologies, business models or organizational practices. We use newly created firm-level measures of workforce human capital and productivity to examine links between those measures and the market value of the employing firm. The new human capital measures come from an integrated employer-employee data base under development at the US Census Bureau. We link these data to financial information from Compustat at the firm level, which provides measures of market value and tangible assets. The combination of these two sources permits examination of the link between human capital, productivity, and market value. There is a substantial positive relation between human capital and market value that is primarily related to the unmeasured personal characteristics of the employees, which are captured by the new measures.View Full Paper PDF
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Working PaperEstimating Measurement Error in SIPP Annual Job Earnings: A Comparison of Census Survey and SSA Administrative Data
September 2002
Working Paper Number:
tp-2002-24
The third chapter investigates measurement error in SIPP annual job earnings data linked to SSA administrative earnings data. The multiple earnings measures provided by the survey and administrative data enable the identification of components of true variation and variation due to measurement error. We find that 18% of the variation in SIPP annual job earnings can be attributed to measurement error. We also find that in both the SIPP and the DER, measurement error is persistent over time. A lower level of auto-correlation in the SIPP measurement error than in the economic error component leads to a lower reliability ratio of .62 for first-differenced earnings.View Full Paper PDF
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Working PaperThe Longitudinal Business Database
July 2002
Working Paper Number:
CES-02-17
As the largest federal statistical agency and primary collector of data on businesses, households and individuals, the Census Bureau each year conducts numerous surveys intended to provide statistics on a wide range of topics about the population and economy of the United States. The Census Bureau's decennial population and quinquennial economic censuses are unique, providing information on all U.S. households and business establishments, respectively.View Full Paper PDF
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Working PaperThe Measurement of Human Capital in the U.S. Economy
April 2002
Working Paper Number:
tp-2002-09
We develop a new approach to measuring human capital that permits the distinction of both observable and unobservable dimensions of skill by associating human capital with the portable part of an individual's wage rate. Using new large-scale, integrated employer-employee data containing information on 68 million individuals and 3.6 million firms, we explain a very large proportion (84%) of the total variation in wages rates and attribute substantial variation to both individual and employer heterogeneity. While the wage distribution remained largely unchanged between 1992-1997, we document a pronounced right shift in the overall distribution of human capital. Most workers entering our sample, while less experienced, were otherwise more highly skilled, a difference which can be attributed almost exclusively to unobservables. Nevertheless, compared to exiters and continuers, entrants exhibited a greater tendency to match to firms paying below average internal wages. Firms reduced employment shares of low skilled workers and increased employment shares of high skilled workers in virtually every industry. Our results strongly suggest that the distribution of human capital will continue to shift to the right, implying a continuing up-skilling of the employed labor force.View Full Paper PDF
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Working PaperNew Uses of Health and Pension Information
January 2002
Working Paper Number:
tp-2002-03
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