Terence J Wales
Biographic Data
| ID | 8879229 |
|---|---|
| NAME | Terence J Wales |
| GIVEN NAMES | Terence J |
| FAMILY NAME | Wales |
| SIGNATURE | WALES T J |
| VERIFIED | No |
| TOTAL WORKS | 12 |
| TOTAL CITATIONS | 1 |
| AUTHOR COUNT | 12 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1968 |
| LATEST PUBLICATION YEAR | 1999 |
| H-INDEX | 1 |
Flexible and Semiflexible Consumer Demands with Quadratic Engel Curves
In this paper, we introduce three flexible consumer demand systems in which expenditures on goods are quadratic functions of income. We view these alternatives as to the demand systems used heretofore in the empirical modeling of rank-three demands, namely those in which expenditure shares are quadratic functions of the logarithm of income. Curvature conditions required by theory can be imposed locally during the estimation for each, and a semifl…
A Simple Method for Imposing Local Curvature in Some Flexible Consumer-Demand Systems
We introduce a procedure for imposing curvature conditions locally in a class of flexible demand systems. Aside from the simplicity of the procedure, a major advantage is that flexibility is maintained. We illustrate the technique by estimating three flexible demand systems—the normalized quadratic, the almost ideal, and the linear translog—using highly aggregated Canadian data for the period 1947 through 1993. When curvature is not imposed, thes…
Do Husbands and Wives Pool Their Resources? Evidence from the United Kingdom Child Benefit
Shelly J. Lundberg, Robert A. Pollak, Terence J. Wales, Do Husbands and Wives Pool Their Resources? Evidence from the United Kingdom Child Benefit, The Journal of Human Resources, Vol. 32, No. 3 (Summer, 1997), pp. 463-480
Price-Augmenting Returns to Scale: An Application to Nonseparable Two-Stage Technologies
Robert A. Pollak, Terence J. Wales, Price-Augmenting Returns to Scale: An Application to Nonseparable Two-Stage Technologies, The Review of Economics and Statistics, Vol. 74, No. 2 (May, 1992), pp. 213-220
Pooling International Consumption Data
Pooling consumption data from different countries for demand system estimation is attractive because it increases both sample size and therange of v ariation of relative prices and income. The major objection to pooling is that d ifferent countries may have different demand system parameters. This paper propo sed and estimates specifications that permit pooling while allowing both short-r un andlong-run demand systems to differ across countries. …
Specification and Estimation of Nonseparable Two-Stage Technologies: The Leontief CES and the Cobb-Douglas CES
A two-stage technology is a sequential production process that first uses pri mary inputs to produce intermediate inputs and then uses theintermediate inputs to produce final output. In this paper the authors show that two-stage technologies provide a general procedure for combining production functions or cost functions to obtain new specifications suitable for empirical production analysis. They investigate two new cost functions for which the …
The CES-Translog: Specification and Estimation of a New Cost Function
Robert A. Pollak, Robin C. Sickles, Terence J. Wales, The CES-Translog: Specification and Estimation of a New Cost Function, The Review of Economics and Statistics, Vol. 66, No. 4 (Nov., 1984), pp. 602-607
Dynamic and Stochastic Structure: An Analysis of Three Time Series of Household Budget Studies
Demographic Variables in Demand Analysis
In this paper [the authors discuss] five procedures for incorporating demographic variables into theoretically plausible demand systems: translating scaling and the Gorman reverse Gorman and implicit Prais-Houthakker procedures.... These five procedures are used to incorporate a single demographic variable--the number of children in a household--into the generalized CES demand system using household budget data for the United Kingdom for the peri…
Supply and Demand for State and Local Services
M ANY cross-section studies exist in the literature attempting to explain variations in per capita state and local expenditures on such services as highways, municipal services, health, and education. Differences in per capita expenditures across states are explained in terms of such factors as differences in population densities, urban-rural distributions, average income levels, age distributions, and numbers of school-age children.' In most of …
Impact of Investment Subsidies in a Neoclassical Growth Model
SINCE 1953, Congress has enacted several changes in the income tax laws which provide subsidies to investment. Depreciation rules were amended in 1954 to allow taxpayers to use various accelerated depreciation methods, such as sum of the years digits or double declining balance, as a substitute for straight line depreciation. In 1962 the tax laws were changed to shorten the lives over which assets could be depreciated, and to provide a tax credit…
Analysis of the Constancy of the Effective Tax Rate
T HE effective tax rate on individual returns (to be denoted etr) remained approximately constant at 23.4 per cent from 1955 to 1962, while taxable income increased more than 50 per cent. Since the individual income tax structure is progressive, this seems at first glance to be a strange result. Explanations which exist in the literature allude to the possibility that shifting between types of returns has occurred, that the pattern of deductions …
Specification and Estimation of Nonseparable Two-Stage Technologies: The Leontief CES and the Cobb-Douglas CES
A two-stage technology is a sequential production process that first uses pri mary inputs to produce intermediate inputs and then uses theintermediate inputs to produce final output. In this paper the authors show that two-stage technologies provide a general procedure for combining production functions or cost functions to obtain new specifications suitable for empirical production analysis. They investigate two new cost functions for which the …
Analysis of the Constancy of the Effective Tax Rate
T HE effective tax rate on individual returns (to be denoted etr) remained approximately constant at 23.4 per cent from 1955 to 1962, while taxable income increased more than 50 per cent. Since the individual income tax structure is progressive, this seems at first glance to be a strange result. Explanations which exist in the literature allude to the possibility that shifting between types of returns has occurred, that the pattern of deductions …
Impact of Investment Subsidies in a Neoclassical Growth Model
SINCE 1953, Congress has enacted several changes in the income tax laws which provide subsidies to investment. Depreciation rules were amended in 1954 to allow taxpayers to use various accelerated depreciation methods, such as sum of the years digits or double declining balance, as a substitute for straight line depreciation. In 1962 the tax laws were changed to shorten the lives over which assets could be depreciated, and to provide a tax credit…
Supply and Demand for State and Local Services
M ANY cross-section studies exist in the literature attempting to explain variations in per capita state and local expenditures on such services as highways, municipal services, health, and education. Differences in per capita expenditures across states are explained in terms of such factors as differences in population densities, urban-rural distributions, average income levels, age distributions, and numbers of school-age children.' In most of …
Demographic Variables in Demand Analysis
In this paper [the authors discuss] five procedures for incorporating demographic variables into theoretically plausible demand systems: translating scaling and the Gorman reverse Gorman and implicit Prais-Houthakker procedures.... These five procedures are used to incorporate a single demographic variable--the number of children in a household--into the generalized CES demand system using household budget data for the United Kingdom for the peri…
Dynamic and Stochastic Structure: An Analysis of Three Time Series of Household Budget Studies
The CES-Translog: Specification and Estimation of a New Cost Function
Robert A. Pollak, Robin C. Sickles, Terence J. Wales, The CES-Translog: Specification and Estimation of a New Cost Function, The Review of Economics and Statistics, Vol. 66, No. 4 (Nov., 1984), pp. 602-607
Pooling International Consumption Data
Pooling consumption data from different countries for demand system estimation is attractive because it increases both sample size and therange of v ariation of relative prices and income. The major objection to pooling is that d ifferent countries may have different demand system parameters. This paper propo sed and estimates specifications that permit pooling while allowing both short-r un andlong-run demand systems to differ across countries. …
Specification and Estimation of Nonseparable Two-Stage Technologies: The Leontief CES and the Cobb-Douglas CES
A two-stage technology is a sequential production process that first uses pri mary inputs to produce intermediate inputs and then uses theintermediate inputs to produce final output. In this paper the authors show that two-stage technologies provide a general procedure for combining production functions or cost functions to obtain new specifications suitable for empirical production analysis. They investigate two new cost functions for which the …
Price-Augmenting Returns to Scale: An Application to Nonseparable Two-Stage Technologies
Robert A. Pollak, Terence J. Wales, Price-Augmenting Returns to Scale: An Application to Nonseparable Two-Stage Technologies, The Review of Economics and Statistics, Vol. 74, No. 2 (May, 1992), pp. 213-220
Do Husbands and Wives Pool Their Resources? Evidence from the United Kingdom Child Benefit
Shelly J. Lundberg, Robert A. Pollak, Terence J. Wales, Do Husbands and Wives Pool Their Resources? Evidence from the United Kingdom Child Benefit, The Journal of Human Resources, Vol. 32, No. 3 (Summer, 1997), pp. 463-480
A Simple Method for Imposing Local Curvature in Some Flexible Consumer-Demand Systems
We introduce a procedure for imposing curvature conditions locally in a class of flexible demand systems. Aside from the simplicity of the procedure, a major advantage is that flexibility is maintained. We illustrate the technique by estimating three flexible demand systems—the normalized quadratic, the almost ideal, and the linear translog—using highly aggregated Canadian data for the period 1947 through 1993. When curvature is not imposed, thes…
Flexible and Semiflexible Consumer Demands with Quadratic Engel Curves
In this paper, we introduce three flexible consumer demand systems in which expenditures on goods are quadratic functions of income. We view these alternatives as to the demand systems used heretofore in the empirical modeling of rank-three demands, namely those in which expenditure shares are quadratic functions of the logarithm of income. Curvature conditions required by theory can be imposed locally during the estimation for each, and a semifl…
Economics (11 works) · Econometrics (7 works) · Computer Science (6 works) · Fiscal Policy and Economic Growth (6 works) · Mathematics (5 works) · Economics of Agriculture and Food Markets (4 works) · Gender, Labor, and Family Dynamics (4 works) · Mathematical economics (4 works) · Statistics (4 works) · Consumer Market Behavior and Pricing (3 works)