Papers Containing Tag(s): 'Bureau of Labor Statistics'
The following papers contain search terms that you selected. From the papers listed below, you can navigate to the PDF, the profile page for that working paper, or see all the working papers written by an author. You can also explore tags, keywords, and authors that occur frequently within these papers.
See Working Papers by Tag(s), Keywords(s), Author(s), or Search Text
Click here to search again
Frequently Occurring Concepts within this Search
Viewing papers 321 through 329 of 329
-
Working PaperEstimating A Multivariate Arma Model with Mixed-Frequency Data: An Application to Forecasting U.S. GNP at Monthly Intervals
July 1990
Working Paper Number:
CES-90-05
This paper develops and applies a method for directly estimating a multivariate, autoregressive moving-average (ARMA) model with mixed-frequency, time-series data. Unlike standard, single-frequency methods, the method does not require the data to be transformed to a single frequency (by temporally aggregating higher-frequency data to lower frequencies for interpolating lower-frequency data to higher frequencies) or the model to be restricted by frequency. Subject to computational constraints, the method can handle any number of variable and frequencies. In addition, variable can be treated as temporally aggregated and observed with errors and delays. The key to the method is to view lower-frequency data as periodically missing and to use the missing-data variant of the Kalman filter. In the application, a bivariate, ARMA model is estimated with monthly observations on total employment and quarterly observations on real GNP, in the U.S., for January 1958 to December 1978. The estimated model is, then, used to compute monthly forecasts of the variables for 1 to 12 months ahead, for January 1979 to December 1988. Compared with GNP forecasts, in particular, for similar periods produced by established econometric and time series models, present GNP forecasts are generally more accurate for 1 to 4 months ahead and about equally or slightly less accurate for 5 to 12 months ahead. The application, thus, shows that the present method is tractable and able to effectively exploit cross-frequency sample information, in ARMA estimate and forecasting, which standard methods cannot exploit at all.View Full Paper PDF
-
Working PaperExport Performance and State Industrial Growth
January 1990
Working Paper Number:
CES-90-03
This research examines whether state industrial growth over the past decade has occurred independently of changes in manufacturing exports and whether export employment growth responds to the same economic and locational forces as employment growth in domestic production. The empirical results indicate that employment and value added growth are not independent of export sales growth; however, a shift toward export markets is not strongly associated with higher manufacturing growth rates. Traditional factors account for a far greater proportion of the variation in domestic than export employment growth. The results suggest the need for additional research on the sources of state comparative advantage in export markets.View Full Paper PDF
-
Working PaperLongitudinal Economic Data At The Census Bureau: A New Database Yields Fresh Insight On Some Old Issues
January 1990
Working Paper Number:
CES-90-01
This paper has two goals. First, it illustrates the importance of panel data with examples taken from research in progress using the U.S. Census Bureau's Longitudinal Research Database ( LRD ). Although the LRD is not the result of a "true" longitudinal survey, it provides both balanced and unbalanced panel data sets for establishments, firms, and lines of business. The second goal is to integrate the results of recent research with the LRD and to draw conclusions about the importance of longitudinal microdata for econometric research and time series analysis. The advantages of panel data arise from both the micro and time series aspects of the observations. This also leads us to consider why panel data are necessary to understand and interpret the time series behavior of aggregate statistics produced in cross-section establishment surveys and censuses. We find that typical homogeneity assumptions are likely to be inappropriate in a wide variety of applications. In particular, the industry in which an establishment is located, the ownership of the establishment, and the existence of the establishment (births and deaths) are endogenous variables that cannot simply be taken as time invariant fixed effects in econometric modeling.View Full Paper PDF
-
Working PaperMultifactor Productivity And Sources of Growth In Chinese Industry: 1980-85
October 1989
Working Paper Number:
CES-89-08
This paper examines the economic performance of the Chinese industrial sector in the post-reform period 1980-1985. A multifactor productivity model is used to isolate the contributions of labor, capital, and technical efficiency to growth in industrial output. Using information from the National Industrial Census of China (1988) for large and medium-size enterprises, we find that growth in industrial labor productivity in the post-reform period is attributable to increases in capital intensity not technical efficiency. Moreover, collective and other nonstate enterprises show higher partial labor and multifactor productivity gains than do state enterprises. We also find that multifactor productivity gains are closely tied to increases in retained profits and the proportion of total employees that are technical workers. Surprisingly, labor bonuses have a near zero or negative effect on multifactor productivity growth although this result is not very robust.View Full Paper PDF
-
Working PaperThe Effects Of Leveraged Buyouts On Productivity And Related Aspects Of Firm Behavior
July 1989
Working Paper Number:
CES-89-05
We investigate the economic effects of leveraged buyouts (LBOs) using large longitudinal establishment and firm-level Census Bureau data sets linked to a list of LBOs compiled from public data sources. About 5 percent, or 1100, of the manufacturing plants in the sample were involved in LBOs during 1981-1986. We find that plants involved in LBOs had significantly higher rates of total-factor productivity (TFP) growth than other plants in the same industry. The productivity impact of LBOs is much larger than our previous estimates of the productivity impact of ownership changes in general. Management buyouts appear to have a particularly strong positive effect on TFP. Labor and capital employed tend to decline (relative to the industry average) after the buyout, but at a slower rate than they did before the buyout. The ratio of nonproduction to production labor cost declines sharply, and production worker wage rates increase, following LBOs. LBOs are production-labor-using, nonproduction-labor-saving, organizational innovations. Plants involved in management buyouts (but not in other LBOs) are less likely to subsequently close than other plants. The average R&D- intensity of firms involved in LBOs increased at least as much from 1978 to 1986 as did the average R&D-intensity of all firms responding to the NSF/Census survey of industrial R&D.View Full Paper PDF
-
Working PaperThe Effect Of Takeovers On The Employment And Wages Of Central-Office And Other Personnel
June 1989
Working Paper Number:
CES-89-03
Recent high rates of takeover activity have stimulated considerable interest and concern among policymakers and the public about changes in corporate ownership, but relatively little evidence about the "read" (as opposed to financial) effects of takeovers has been available. This paper presents evidence concerning the effects of ownership change on the employment and wages of central-office workers -- according to some views, those likely to be most affected by takeovers -- and contracts them with the effects on manufacturing plant employees. The evidence is based on a large, longitudinal, plant-level data set derived from Census Bureau surveys of both administrative and production establishments. The major findings of the analysis are as follows. Central offices that changed owners between 1977 and 1982 had substantially lower -- about 16 percent lower -- employment growth during that period than central offices not changing owners. (There was, however, no significant difference in the growth of R&D employment.) They also had slower growth in wages -- about 9 percent lower. Changing owners had a much more negative effect on employment growth in central offices than it did in manufacturing plants: 16 percent compared to 5 percent. This implies that the ratio of central-office to plant employees declines about 11 percent in firms changing owners: about 7.2 administrators per 10-00 plant employees are eliminated. These findings are consistent with the view that reduction of administrative overhead is an important motive for changes in ownership. Failure to account for reductions in central-office employment results in a substantial (about 40 percent) underestimate of the productivity gains associated with ownership change. We also provide evidence concerning the relationship between firm size and administrative-intensity.View Full Paper PDF
-
Working PaperMeasuring The Trade Balance In Advanced Technology Products
January 1989
Working Paper Number:
CES-89-01
Because of the dramatic decline in the United States Trade Balance since the early 1970's, many economists and policy makers have become increasingly concerned about the ability of U.S. manufacturers to compete with foreign producers. Initially concern was limited to a few basic industries such as shoes, clothing, and steel; but more recently foreign producers have been effectively competing with U.S. manufacturers in automobiles, electronics, and other consumer products. It now seems that foreign producers are even challenging the dominance of America in high technology industries. The most recent publication from the International Trade Administration shows that the U.S. Trade Balance in high technology industries fell from a $24 billion surplus in 1982, to a $2.6 billion deficit in 1986, before rebounding to a $591 million surplus in 1987. As part of the efforts of the U.S. Census Bureau to provide policy makers and other interested parties with the most complete and accurate information possible, we recently completed a review of the methodology and data used to construct trade statistics in the area of high technology trade. Our findings suggest that the statistics presented by the International Trade Administration, although technically correct, do not provide an accurate picture of international trade in high or advanced technology products because of the level of aggregation used in their construction. The ITA statistics are based on the Department of Commerce's DOC3 definition of high technology industries. The DOC3 definition requires that each product classified in a high tech industry be designated high tech. As a result, many products which would not individually be considered high tech are included in the statistics. After developing a disaggregate, product- based measure of international trade in Advanced Technology Products (ATP), we find that although the trade balance in these products did decline over the 1982-1987 period, the decline is much smaller (about $5 billion) than reported by ITA (approximately $24 billion). This paper discusses the methodology used to define the ATP measure, contrasts it to the DOC3 measure, and provides a comparison of the resulting statistics. After discussing alternative approaches to identifying advanced technology products, Section 2 describes the advanced technologies in the classification. (Appendix A, provides definitions and examples of the products which embody these technologies. In addition, Appendix B, available on request, provides a comprehensive list of Advanced Technology Products by technology grouping.) Having described the ATPs, Section 3 examines annual trade statistics for ATP products, in 1982, 1986, and 1987, and compares these statistics with equivalent ones based on the DOC3 measure. The differences between the two measures over the 1982- 87 period stem from changes in the balance of trade of items included in the DOC3 measure but excluded by the Census ATP measure; i.e. the differences are due to changes in the trade balance of "low tech" products which are produced in "high tech" industries. This finding corroborates a principal argument for construction of the ATP measure, that the weakness of the DOC3 measure of high technology trade is the level of aggregation used in its construction. It also suggests that at the level of individual products the high technology sectors of the economy continue to enjoy a strong comparative advantage and are surprisingly healthy. Nonetheless, some areas of weakness are identified, such as low tech products in high tech industries. (Appendix C, supplements this material by providing a detailed listing of traded products included and excluded from the Advanced Technology definition for each DOC3 high tech commodity grouping. These Tables enable the reader to directly assess the Census classification.)View Full Paper PDF
-
Working PaperPublic Use Microdata: Disclosure And Usefulness
September 1988
Working Paper Number:
CES-88-03
Official statistical agencies such as the Census Bureau and the Bureau of Labor Statistics collect enormous quantities of microdata in statistical surveys. These data are valuable for economic research and market and policy analysis. However, the data cannot be released to the public because of confidentiality commitments to individual respondents. These commitments, coupled with the strong research demand for microdata, have led the agencies to consider various proposals for releasing public use microdata. Most proposals for public use microdata call for the development of surrogate data that disguise the original data. Thus, they involve the addition of measurement errors to the data. In this paper, we examine disclosure issues and explore alternative masking methods for generating panels of useful economic microdata that can be released to researchers. While our analysis applies to all confidential microdata, applications using the Census Bureau's Longitudinal Research Data Base (LRD) are used for illustrative purposes throughout the discussion.View Full Paper PDF
-
Working PaperThe Longitudinal Research Database (LRD): Status And Research Possibilities
July 1988
Working Paper Number:
CES-88-02
This paper discusses the development and use of the Longitudinal Research Data available at the Center for Economic Studies of the Bureau of the Census in terms of what has been accomplished thus far, what projects are currently in progress, and what plans are in place for the near future. The major achievement to date is the construction of the database itself, which contains data for manufacturing establishments collected by the Census in 1963, 1967, 1972, 1977 and 1982, and the Annual Survey of Manufactures for non-Census years from 1973 to 1985. These data now reside in the Center's computer in a consistent format across all years. In addition, a large software development task that greatly simplifies the task of selecting subsets of the database for specific research projects is well underway. Finally, a number of powerful microcomputers have been purchased for use by researchers for their statistical analysis. Current efforts underway at the Center include research on such policy-relevant issues as mergers and their impact on profits and production, high technology trade, import competition, plant level productivity, entry and exit, and productivity differences between large and small firms. Due to the confidentiality requirements of the Census data, most of their research is performed by Center staff and Special Sworn Employees. Under certain circumstances, the Center accepts user-written programs from outside researchers. These routines are executed by Center staff, and the resultant output is reviewed thoroughly for disclosure problems. The Center is also an active member of a task force working on methods on release "masked" or "cloned" microdata in public-use files that will protect the confidentiality of the data while at the same time provide a research tool for outside users. The Center research program contributes directly to future research possibilities. The current batch of research projects is adding insight into the nature of the LRD database. This information is continually being incorporated into the Center's software system, thus facilitating yet more research activity. Moreover, since a good portion of the research involves linking the Longitudinal Research Data to other data files, such as the NSF/Census R&D data, the scope of the databases is continually being expanded. Furthermore, the Center is exploring the possibility of linking the demographic data collected by the Census Bureau to the LRD database.View Full Paper PDF
