WorldCat Identities

Keane, Michael P.

Overview
Works: 128 works in 246 publications in 1 language and 887 library holdings
Genres: Longitudinal studies 
Roles: Author, Contributor, Other, Editor
Classifications: HG3881.5.I58, 332
Publication Timeline
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Most widely held works about Michael P Keane
 
Most widely held works by Michael P Keane
Inequality, transfers and growth : new evidence from the economic transition in Poland by Michael P Keane( )

19 editions published between 2000 and 2002 in English and held by 133 WorldCat member libraries worldwide

This paper challenges the conventional wisdom that inequality in Poland increased markedly during the economic transition. Income and consumption inequality actually declined in 1990-92 and rose only moderately above pre-transition levels by 1997. However, inequality in labor earnings increased markedly and consistently during 1990-97. Social transfer mechanisms, including pensions, helped mitigate increases in overall inequality and poverty. More importantly, these transfer mechanisms were well-designed to reduce political resistance to market-oriented reforms in the early years of transition, paving the way for rapid growth. Cross-country evidence from transition economies is consistent with this interpretation and with recent literature suggesting that inequality-reducing redistribution can enhance growth
Changes in the structure of earnings during the Polish transition by Michael P Keane( )

12 editions published in 2002 in English and held by 125 WorldCat member libraries worldwide

We document changes in the structure of earnings during the economic transition in Poland. We find that inequality in labor earnings increased substantially from 1988 to 1996. A common view is that the reallocation of workers from a public sector with a compressed wage distribution, to a private sector with much higher wage inequality, accounts for the bulk of increased earnings inequality during transition. However, our decomposition of the sources of the increase in inequality suggests that this compositional effect accounts for only 39% of the increase. Fully 52% of the increase is due to the increase in the variance of wages within sectors. That is, earnings inequality within both the private and public sectors grew substantially, and by similar amounts. This illustrates how even state-owned enterprises in Poland moved towards competitive wage setting as they restructured. A substantial part of the increase in earnings inequality was between group, due largely to increased education premia. However, changes in inequality within education-experience-gender groups account for about 60 percent of the increase in overall wage inequality - similar to the patterns observed in the U.S. and U.K. in the 1980s. But, in contrast to the U.S. and U.K. experiences, increases in within-group inequality in Poland were very different across skill groups, with much larger increases for highly educated workers. These patterns hold in both the private and public sectors, although increases in education premia were somewhat greater in the private sector
Sources of advantageous selection : evidence from the Medigap insurance market by Hanming Fang( )

15 editions published between 2006 and 2010 in English and Undetermined and held by 105 WorldCat member libraries worldwide

We provide strong evidence of advantageous selection in the Medigap insurance market, and analyze its sources. Using Medicare Current Beneficiary Survey (MCBS) data, we find that, conditional on controls for the price of Medigap, medical expenditures for senior citizens with Medigap coverage are, on average, about $4,000 less than for those without. But, if we condition on health, expenditures for seniors on Medigap are about $2,000 more. These two findings can only be reconciled if those with less health expenditure risk are more likely to purchase Medigap, implying advantageous selection. By combining the MCBS and the Health and Retirement Study (HRS), we investigate the sources of this advantageous selection. These include income, education, longevity expectations and financial planing horizons, as well as cognitive ability. Once we condition on all these factors, seniors with higher expected medical expenditure are indeed more likely to purchase Medigap. Surprisingly, risk preferences do not appear to be a source of advantageous selection. But cognitive ability emerges as a particularly important factor, consistent with a view that many senior citizens have difficulty understanding Medicare and Medigap rules
Reconciling micro and macro labor supply elasticities : a structural perspective by Michael P Keane( )

8 editions published between 2011 and 2012 in English and held by 85 WorldCat member libraries worldwide

The response of aggregate labor supply to various changes in the economic environment is central to many economic issues, especially the optimal design of tax policies. This paper surveys recent work that uses structural models and micro data to evaluate the size of this response. Whereas the earlier literature on this issue often concluded that aggregate labor supply elasticities were small, recent work has identified three key reasons that the aggregate elasticity may be quite large. First, earlier estimates abstracted from several key features, including human capital accumulation, leading to estimates that are dramatically negatively biased. Second, failure to understand that aggregate labor supply adjustments can occur along both the hours per worker and employment margins has led economists to misinterpret the implications of previous estimates for aggregate labor supply. Third, structural estimation of responses along the extensive (i.e., employment) margin are typically quite large
The employment and wage effects of oil price changes : a sectoral analysis by Michael P Keane( )

13 editions published in 1995 in English and held by 81 WorldCat member libraries worldwide

Annotation
Evaluating consumers' choices of Medicare part D plans : a study in behavioral welfare economics by Michael P Keane( )

7 editions published in 2019 in English and held by 62 WorldCat member libraries worldwide

We propose new methods to model behavior and conduct welfare analysis in complex environments where some choices are unlikely to reveal preferences. We develop a mixture-of-experts model that incorporates heterogeneity in consumers' preferences and in their choice processes. We also develop a method to decompose logit errors into latent preferences versus optimization errors. Applying these methods to Medicare beneficiaries' prescription drug insurance choices suggests that: (1) average welfare losses from suboptimal choices are small, (2) beneficiaries with dementia and depression have larger losses, and (3) policies that simplify choice sets offer small average benefits, helping some people but harming others
A computationally practical simulation estimation algorithm for dynamic panel data models with unobserved endogenous state variables by Robert M Sauer( )

5 editions published between 2007 and 2009 in English and Undetermined and held by 22 WorldCat member libraries worldwide

This paper develops a simulation estimation algorithm that is particularly useful for estimating dynamic panel data models with unobserved endogenous state variables. The new approach can easily deal with the commonly encountered and widely discussed quot;initial conditions problem,quot; as well as the more general problem of missing state variables during the sample period. Repeated sampling experiments on dynamic probit models with serially correlated errors indicate that the estimator has good small sample properties. We apply the estimator to a model of married women's labor force participation decisions. The results show that the rarely used Polya model, which is very difficult to estimate given missing data problems, fits the data substantially better than the popular Markov model. The Polya model implies far less state dependence in employment status than the Markov model. It also implies that observed heterogeneity in education, young children and husband income are much more important determinants of participation, while race is much less important
Classification error in dynamic discrete choice models: implications for female labor supply behavior by Michael P Keane( )

2 editions published in 2006 in Undetermined and English and held by 16 WorldCat member libraries worldwide

Two key issues in the literature on female labor supply are: (1) if persistence in employment status is due to unobserved heterogeneity or state dependence, and (2) if fertility is exogenous to labor supply. Until recently, the consensus was that unobserved heterogeneity is very important, and fertility is endogenous. But Hyslop (1999) challenged this. Using a dynamic panel probit model of female labor supply including heterogeneity and state dependence, he found that adding autoregressive errors led to a substantial diminution in the importance of heterogeneity. This, in turn, meant he could not reject that fertility is exogenous. Here, we extend Hyslop (1999) to allow classification error in employment status, using an estimation procedure developed by Keane and Wolpin (2001) and Keane and Sauer (2005). We find that a fairly small amount of classification error is enough to overturn Hyslop's conclusions, leading to overwhelming rejection of the hypothesis of exogenous fertility
The solution and estimation of discrete choice dynamic programming models by simulation and interpolation : Monte Carlo evidence by Michael P Keane( Book )

6 editions published in 1994 in English and held by 15 WorldCat member libraries worldwide

Statistical inference in the multinominal multiperiod probit model by John Geweke( Book )

4 editions published in 1994 in English and held by 11 WorldCat member libraries worldwide

Rural development and rural tourism by Michael P Keane( Book )

2 editions published in 1990 in English and held by 10 WorldCat member libraries worldwide

Mixture of normals probit models by John Geweke( Book )

3 editions published in 1997 in English and held by 9 WorldCat member libraries worldwide

Polysemy in conceptual combinations : testing the constraint theory of combination by F Costello( Book )

2 editions published in 1996 in English and held by 9 WorldCat member libraries worldwide

The employment and wage effects of oil price shocks : a sectoral analysis by Michael P Keane( Book )

2 editions published in 1991 in English and held by 9 WorldCat member libraries worldwide

An empirical analysis of income dynamics among men in the PSID : 1968-1989 by John Geweke( Book )

8 editions published in 1997 in English and held by 8 WorldCat member libraries worldwide

A computationally practical simulation estimator for panel data : with applications to labor supply and real wage movement over the business cycle by Michael P Keane( Book )

3 editions published in 1989 in English and held by 8 WorldCat member libraries worldwide

Individual heterogeneity and interindustry wage differentials by Michael P Keane( Book )

2 editions published in 1991 in English and held by 7 WorldCat member libraries worldwide

Sectoral shift theories of unemployment : evidence from panel data by Michael P Keane( Book )

2 editions published in 1990 in English and held by 7 WorldCat member libraries worldwide

Nominal contracting theories of unemployment : evidence from panel data by Michael P Keane( Book )

2 editions published in 1990 in English and held by 7 WorldCat member libraries worldwide

Changes in the structure of earnings during a period of rapid technological change : evidence from the Polish transition by Michael P Keane( Book )

2 editions published in 2001 in English and held by 5 WorldCat member libraries worldwide

 
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Alternative Names
Keane, M. 1961-

Keane, Michael 1961-

Keane, Michael (Michael Patrick), 1961-

Keane, Michael Patrick 1961-

Keane, Micheal P. 1961-

Keane, Mike 1961-

Michael Keane australischer Wirtschaftswissenschaftler

Michael Keane eacnamaí Meiriceánach

Michael Keane economist

Michael Keane economista australianu

Michael Keane economista estadounidense

Michael Keane economista estatunidenc

Michael Keane economista statunitense

Michael Keane économiste américain

Michael Keane econoom uit Australië

Michael Keane ekonomist amerikan

مايكل كينى (اقتصادى)

مايكل كيني عالم اقتصاد أمريكي

Languages
English (116)