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Working paper
A re-examination of firm, industry and market volatilities
In: The quarterly review of economics and finance, Band 67, S. 113-120
ISSN: 1062-9769
A MATCHED PAIRS ANALYSIS OF STATE GROWTH DIFFERENCES
In: Contemporary economic policy: a journal of Western Economic Association International, Band 30, Heft 2, S. 293-305
ISSN: 1465-7287
The American states have provided a rich laboratory in which to examine influences on economic growth, physical capital, human capital, and a variety of policy variables. Existing studies typically use broad cross sections of all states or particular regional subsamples. Pairwise matching is an alternative design for better controlling of omitted variables. We estimate a growth model of U.S. states for 1997–2005 before and after applying different pairwise matching techniques. Our results indicate that sample estimates based on pairwise matching substantially improve the overall ability of the growth model to identify the growth‐enhancing effects of lower tax burdens in general and lower individual income‐tax rates in particular. These effects are more pronounced with narrower matching criteria. (JEL H00, C29, O40)