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  • 1.
    Cho, Sungwook
    et al.
    Department of Economics, Sogang University, Seoul, Korea.
    Heshmati, Almas
    Department of Economics, Sogang University, Seoul, Korea.
    What if you had been less fortunate: The effects of poor family background on current labor market outcomes2015In: Journal of economic studies, ISSN 0144-3585, E-ISSN 1758-7387, Vol. 42, no 1, p. 20-33Article in journal (Refereed)
    Abstract [en]

    Purpose– The purpose of this paper is to examine the correlation between childhood poverty and its influence on adulthood wage distribution, where childhood poverty refers to the experience of poverty or poor family background during one’s childhood.

    Design/methodology/approach– With data from the Korean Labor and Income Panel Study, a quantile regression technique and a decomposition method are conducted to identify and decompose the wage gap between low (poor) and middle class income groups along the whole current wage distribution, based on a simulated counterfactual distribution.

    Findings– The results show that those who had been less fortunate during their childhood were also less likely to have the opportunity to gain labor market favored characteristics, such as a higher level of education, and even earn lower returns to their labor market characteristics in the current labor market. This leads to a discount of about 15 percentage points in the wage, on average, in total for those with underprivileged backgrounds during childhood compared to those with a middle class background. This disadvantage is observed heterogeneously, with a greater effect at the lower quantiles compared to the higher quantiles of the current wage distribution.

    Originality/value– This research contributes to the literature by providing a partial understanding of poverty in Korea along with possible causes, including poor family background or childhood poverty, with which the implication of an intergenerational effect is considered.

  • 2.
    Hacker, R. Scott
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics.
    Hatemi-J, Abdulnasser
    UAE University, Department of Economics and Finance.
    A bootstrap test for causality with endogenous lag length choice: theory and application in finance2012In: Journal of economic studies, ISSN 0144-3585, E-ISSN 1758-7387, Vol. 39, no 2, p. 144-160Article in journal (Refereed)
    Abstract [en]

    Purpose – In all existing theoretical papers on causality it is assumed that the lag length is known a priori. However, in applied research the lag length has to be selected before testing for causality. The purpose of this paper is to suggest that in investigating the effectiveness of various Granger causality testing methodologies, including those using bootstrapping, the lag length choice should be endogenized, by which we mean the data-driven preselection of lag length should be taken into account.

    Design/methodology/approach – The size and power of a bootstrap test with endogenized lag-length choice are investigated by simulation methods. A statistical software component is produced to implement the test, which is available online.

    Findings – The simulation results show that this test performs well. An application of the test provides empirical support for the hypothesis that the UAE financial market is integrated with the US market.

    Social implications – The empirical results based on this test are expected to be more precise.

    Originality/value – This paper considers a bootstrap test for causality with endogenous lag order. This test has superior properties compared to existing causality tests in terms of size, with similar if not better power and it is robust to ARCH effects that usually characterize financial data. Practitioners interested in causal inference based on time series data might find the test valuable.

  • 3.
    Maasoumi, Esfandiar
    et al.
    Emory University.
    Heshmati, Almas
    Sogang University.
    Wan, Guanghua
    Asian Development Bank, Manila.
    Introduction to Special Issue on Poverty and Wellbeing in Asia2015In: Journal of economic studies, ISSN 0144-3585, E-ISSN 1758-7387, Vol. 42, no 1, p. 2-3Article in journal (Other academic)
  • 4.
    Musafiri, Ildephonse
    et al.
    College of Business and Economics, University of Rwanda, Kigali, Rwanda.
    Sjölander, Pär
    Jönköping University, Jönköping International Business School, JIBS, Statistics.
    The importance of off-farm employment for smallholder farmers in Rwanda2018In: Journal of economic studies, ISSN 0144-3585, E-ISSN 1758-7387, Vol. 5, no 1, p. 14-26Article in journal (Refereed)
    Abstract [en]

    Purpose: Based on unique data the authors analyze the Rwandan non-farm employment expansion in rural areas and its relation to agricultural productivity. The purpose of this paper is to analyze the factors that determine off-farm work hours in Rwanda, and how farmers’ off-farm employment affects agricultural output. Since production efficiency may depend on off-farm work and off-farm work depend on production efficiency (Lien et al., 2010), both production and off-farm work are endogenous. While controlling for endogeneity, the authors investigate the relationship between off-farm work and agricultural production.

    Design/methodology/approach: In this paper the authors use a unique panel data set spanning over 26 years originating from household surveys conducted in the northwest and densely populated districts of Rwanda. Econometric estimations are based on a random effects two-stage Tobit model to control for endogeneity.

    Findings: The study confirms theoretical and empirical findings from other developing countries that off-farm employment is one of the essential conditions for having an economically viable agricultural business and vice versa.

    Research limitations/implications: The study is carried out in only one district of Rwanda. Even though most rural areas in Rwanda have similar features the findings cannot necessarily be generalized for the entire country of Rwanda. As in any study, the raw data set suffer from a number of shortcomings which cannot be fully eliminated by the econometric estimation, but this is a new data set which has the best data available for this research question in Rwanda.

    Practical implications: The authors can conclude that there are synergy effects of investing government resources into both on-farm and off-farm employment expansions. Thus, in Rwanda on-farm investments can actually partly contribute to a future natural smooth transformation to more off-farm total output and productivity and vice versa. Though there are still limited off-farm employment opportunities in the studied area, there are considerable potentials to generate income and increase agricultural production through the purchase of additional inputs.

    Social implications: The findings imply that a favorable business climate for off-farm businesses creates spill-over effects which enhance the smallholder farmers’ opportunities to survive, generate wealth, create employment and in effect reduce poverty.

    Originality/value: From the best of the authors’ knowledge, similar studies have not been conducted in Rwanda, nor elsewhere with this type of data set. The findings provide original insights regarding off-farm and agricultural relationships in rural areas under dense population pressure. The results provide some indications that off-farm employment in developing countries (such as Rwanda) is one of the essential conditions for having an economically viable agricultural business and vice versa. The second wave of data was collected by the authors and was used solely for the purpose of this paper. 

  • 5. Salman, Khalik
    et al.
    Shukur, Ghazi
    Jönköping University, Jönköping International Business School, JIBS, Economics.
    Testing for Granger causality between industrial output and CPI in the presence of regime shift: Swedish Data2004In: Journal of economic studies, ISSN 0144-3585, E-ISSN 1758-7387, Vol. 31, no 5-6, p. 492-499Article in journal (Refereed)
  • 6.
    Sjölander, Pär
    Jönköping University, Jönköping International Business School, JIBS, Economics.
    Unreal Exchange Rates: A Simulation-Based Approach to Adjust Misleading PPP Estimates2007In: Journal of economic studies, ISSN 0144-3585, E-ISSN 1758-7387, Vol. 34, no 3, p. 256-288Article in journal (Refereed)
    Abstract [en]

    Currently, the theory of long-run purchasing power parity (PPP) attains its strongest support in more than thirty years. In this paper, the validity of the PPP revisionists’ scientific evidence supporting long-run PPP is questioned based on the replication of an influential review study that is considered by PPP revisionists to exhibit “some of the strongest evidence” in favour of the PPP theory. By simulation experiments it is demonstrated that the traditional PPP unit root tests are non-robust to the empirically identified (G)ARCH distortions. Due to (G)ARCH distortions, over-rejections for the traditional unit root tests are shown to be a problem that potentially misleads researchers to believe that long-run PPP holds under circumstances when it is in fact not valid. As a potential remedy to this problem, a new unit root test is introduced which is robust to conditional heteroscedasticity disturbances, and in contrast to traditional unit root tests, it exhibits no significant empirical support for the PPP theory. The study illustrates that the PPP revisionists’ unit root tests cannot reliably test the PPP hypothesis in the presence of (G)ARCH distortions, due to bad power and size properties. Perhaps it is time to conclude that, based on the currently existing research, it is virtually impossible to empirically come to a credible conclusion regarding whether long-run PPP holds or not.

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