ECON 4260/8296; MIB 8210

Research Methods in Economics and Business

Fall 1999

 

 

Arthur Diamond

Office: CBA 512E

Office Phone: 554-3657

Internet address: adiamond@unomaha.edu

World Wide Web home page:

http://cba.unomaha.edu/faculty/adiamond/web/diahompg.htm

 

 

Data Sources for Estimating Demand Functions

 

PROMINENT NEBRASKA INDUSTRIES

(Potential Products/Services for 13 page Paper Project)

Sector SIC Code Industry/Product

Agriculture * Corn

Soybeans

Cattle

Hogs

Manufacturing 201 **Meat Products

204 Grain Mill Products

34 Fabricated Metal Products

35 Industrial Machinery and Equipment

356 * Hydraulic Pumps

Transportation

and Utilities 421 Trucking

Railroad

481 * Telephone

4812 * Mobile Telephone

484 **Cable Television

Wholesale 506 Electrical Goods (esp. electrical wiring)

5083 * Farm Equipment & Supplies

* Farm Chemicals (or Vaccines)

Retail 55 New and Used Car Dealers

521 Lumber and Building Materials

571 Furniture and Home Furnishings

Ice Cream

* Frozen Food

Financial/

Real Estate/

Insurance 621 Securities Brokers

631 Life Insurance

*Health Insurance

Services 701 Hotels & Motels

737 **Computers and DP Services

753 Automotive Repair

806 Hospitals

Electricity

 

Note: There are also numerous industry categories which ranked high in sales or employment, but which were difficult to bring down to a single product such as department or grocery stores, restaurants, construction, etc.

A * indicates a product/service that has recently been an actual or potential focus for an "international experience" project. Two stars (**) indicate a project area currently being pursued for the 1997 projects. It is strongly hoped that each of the ** categories will be picked by one of the groups. As soon as additional information is available on the potential May 1997 projects, Ron will let us know.

SOURCES OF DATA FOR ESTIMATING DEMAND FUNCTIONS

 

NU ONRAMP

(Excerpted and adapted from Laura Dickson’s article "NU ONRAMP: Statistics and More" The Library User 15, no. 3 (Spring 1995): 3)

Onramp can be accessed via modem or telnet. It contains a wealth of information and statistics about Nebraska. The Onramp includes population, housing, personal income, and other demographic and economic statistics. For further information contact the UNO Business Reference Librarian, Laura Dickson (554-2217 or dickson@unomaha.edu).

 

 

Macroeconomic Data and Analysis

Each of the Federal Reserve banks publishes a (usually quarterly) Review which they mail free of charge to anyone who requests it. They also have free statistical reports on various subjects that they are willing to send out free upon request.

 

Three of the best* of the Reviews are:

 

Federal Reserve Bank of Minneapolis Quarterly Review

Research Department

Federal Reserve Bank

Minneapolis, MN 55480

phone: (612) 340-2341

 

Federal Reserve Bank of New York Quarterly Review

Federal Reserve Bank of New York

Public Information Department

33 Liberty St.

New York, NY 10045

phone: (212) 720-6134

 

Federal Reserve Bank of St. Louis Review

Research and Public Information Department

Federal Reserve Bank of St. Louis

P.O. Box 442

St. Louis, MO 63166

 

 

 

Since Nebraska is in the Tenth Federal Reserve District overseen by the Federal Reserve Bank of Kansas City, the Review with the most information on our area is the bimonthly:

Federal Reserve Bank of Kansas City Economic Review

Public Affairs Department

Federal Reserve Bank of Kansas City

925 Grand Avenue

Kansas City, MO 64198-0001

phone: (816) 881-2000

A quarterly publication put out by the Kansas City Fed that contains a wealth of statistics on our region is:

Regional Economic Digest

(address and phone number same as for Economic Review)

 

 

Complete addresses and phone numbers for all of the Federal Reserve sources of information follow:

 

PUBLIC AFFAIRS

FEDERAL RESERVE BANK OF KANSAS CITY

925 GRAND AVENUE

KANSAS CITY, MO 64198-0001

Web Site for Kansas City Fed: www.kc.frb.org

Or you may call. The local number is 816-881-2683 and the toll-free number, which can be used anywhere in the continental United States, is 800-FED-1010, Ext. 2683.

 

Addresses/Telephone Numbers

Board of

Governors Publications Services, MS-138

Washington, D.C. 20551

202-452-3244

FRB of:

Boston Public and Community Affairs, T-6

P.O. Box 2076

Boston, MA 02106-2076

617-973-3459

New York Public Information

33 Liberty Street

New York, NY 10045

212-720-6134

Philadelphia Public Information

P.O. Box 66

Philadelphia, PA 19105-0066

215-574-6115

Cleveland Public Affairs and Bank Relations

P.O. Box 6387

Cleveland, OH 44101-1387

216-579-2157 or 3079

Richmond Public Affairs

P.O. Box 27622

Richmond, VA 23261

804-697-8109

Atlanta Public Affairs

104 Marietta Street NW

Atlanta, GA 30303

404-521-8020

Chicago Public Information Center

P.O. Box 834

Chicago, IL 60690-0834

312-322-5111

St. Louis Research and Public Information

P.O. Box 442

St. Louis, MO 63166

314-444-8444, Ext. 8808 or 8809

Minneapolis Public Affairs

P.O. Box 291

Minneapolis, MN 55480-0291

612-340-2446

Dallas Public Affairs

Station K

Dallas, TX 75222

214-922-5270

San Francisco Public Information

P.O. Box 7702

San Francisco, CA 94120-7702

415-974-2163

 

 

Another useful (and free) source for economic data and analysis for the state of Nebraska is the monthly or bi-monthly:

Business in Nebraska

Bureau of Business Research

200 CBA

University of Nebraska at Lincoln

Lincoln, NE 68588-0406

 

 

 

 

Labor Data

U.S. Department of Labor, Bureau of Labor Statistics. Handbook of Labor Statistics.

 

 

General Data

U.S. Bureau of the Census. Statistical Abstract of the United States: 1989. (109th edition.) Washington, DC, 1989.

 

 

 

The phone number for the nearest branch of the U.S. Government Printing Office bookstore is: (816) 765-2256.

 

* According to a recent study (p. 742), the top three bank reviews (ranked by number of citations in 1987-88 from the 3 major macro journals) are: Minnesota, St. Louis and Kansas City. Tied for 4th and 5th are Richmond and San Francisco. (See: Jansen, Dennis W. "Ranking Federal Reserve System Research Departments by Publications in Professional Journals." Journal of Macroeconomics 13, no. 4 (Fall 1991): 733-742.)

 

 

 

A classic study of demand functions for 82 goods and services is:

Houthakker, H.S. and Lester D. Taylor. Consumer Demand in the United States: Analyses and Projections. Second and enlarged edition. Cambridge, Mass.: Harvard University Press, 1970.

 

The "quantity" variable in the demand functions is the per capita expenditure on the service or commodity. The source of most of the data in the book (going back to 1929) is the Survey of Current Business published by the United States Department of Commerce. (As of the time of the book, the relevant data appeared in the July issues.)

The following table is reproduced from the Houthakker and Taylor book (pp. xi-xii). Check the list to see if your product is on it. If it is, take a look at the results on your product in the book and make some reference to the results in your paper.

 

 

 

EXPENDITURE CATEGORIES IN CHAPTER 3 AND ITS APPENDIX

PAGE #

1.0 Alcoholic Beverages 61

1.1 Food Purchased for Off-Premise Consumption (Excluding Alcoholic Beverages) 62

1.2 Purchased Meals (Excluding Alcoholic Beverages) 63

1.3 Food Furnished Government (Including Military) and Commercial Employees 64

1.4 Food Produced and Consumed on Farms 65

1.5 Tobacco Products 66

2.1 Shoes and Other Footwear 67

2.2 Shoe Cleaning and Repairs 68

2.3 Clothing, Including Luggage 69

2.5 Clothing Upkeep 71

2.6 Laundering in Establishments 71

2.7 Jewelry and Watches 72

2.8 Other Clothing, Accessories, etc. 73

3.1 Toilet Articles and Preparations 74

3.2 Barbershops, Beauty Parlors, and Baths 75

4.1 Space Rental Value of Owner-Occupied Housing 76

4.2 Space Rental Value of Tenant-Occupied Housing 77

4.3 Rental Value of Farm Houses 78

4.4 Other Housing 79

5.1 Furniture 80

5.2 Kitchen and Other Household Appliances 81

5.3 China, Glassware, Tableware, and Utensils 82

5.4 Other Durable House Furnishings 83

5.5 Semi-Durable House Furnishings 84

5.6 Cleaning and Polishing Preparations, and Miscellaneous Household

Supplies and Paper Products 85

5.7 Stationery 86

5.8a Electricity (Household Utility) 87

5.8b Gas (Household Utility) 88

5.8c Water 89

5.8d Other Fuel and Ice 90

5.9 Telephone, Telegraph, and Wireless 91

5.10 Domestic Services 92

5.11 Other Household Operation 94

6.1 Drug Preparations and Sundries 95

6.2 Ophthalmic Products and Orthopedic Appliances 96

6.3 Physicians 97

6.4 Dentists 98

6.5 Other Professional Services 99

6.6 Private Hospitals and Sanitariums 100

6.7 Medical Care and Hospitalization Insurance 101

7.1 Brokerage Charges and Investment Counseling 102

7.2 Bank Service Charges, Trust Services, and Safe-Deposit-Box Rental 103

7.3 Services Furnished Without Payment by Financial Intermediaries 104

7.4 Expense of Handling Life Insurance 105

7.5 Legal Services 106

7.6 Funeral and Burial Expenses 107

7.7 Other Personal Business Expenditures 108

8.1a New Cars and Net Purchases of Used Cars 109

8.1b Tires, Tubes, Accessories, and Parts 110

8.1c Automobile Repair, Greasing, Washing, Parking, Storage, and Rental 111

8.1d Gasoline and Oil 112

8.1e Bridge, Tunnel, Ferry, and Road Tolls 113

8.1f Auto Insurance Premiums, Less Claims Paid 114

8.2a Street and Electric Railway and Local Bus 115

8.2b Taxicabs 116

8.2c Railway (Commutation) 117

8.3a Intercity Railway 118

8.3b Intercity Bus 119

8.3c Airline Travel 120

8.3d Other Intercity Transportation 121

9.1 Books and Maps 122

9.2 Newspapers and Magazines 123

9.3 Nondurable Toys 124

9.4 Wheel Goods, Durable Toys, Sports Equipment, Boats, and Pleasure Aircraft 125

9.5 Radio and Television Receivers, Records, and Musical Instruments 126

9.6 Radio and Television Repair 128

9.7 Flowers, Seeds, and Potted Plants 129

9.8a Motion Pictures 130

9.8b Legitimate Theater and Opera 131

9.8c Spectator Sports 132

9.9 Clubs and Fraternal Organizations Except Insurance 133

9.10 Commercial Participant Amusements 134

9.11 Pari-Mutuel Receipts 135

9.12 Other Recreation 136

10.1 Higher Education 137

10.2 Elementary and Secondary Education 138

10.3 Other Educational Expenditures 139

11.0 Religious and Welfare Expenditures 140

12.1 Foreign Travel by U.S. Residents 141

12.2 Expenditures Abroad by U.S. Government Personnel (Military and Civilian) 142

12.3 Net Personal Cash Remittances to Foreign Countries 143

12.4 Expenditures in United States by Foreign Residents 144

 

REPORT ON TIME SERIES DATA FOR DEMAND FUNCTION ESTIMATION

Mike May

9/17/91

(as edited by Art Diamond)

 

There appears to be sufficient data on most of the products which students have signed up for in order for them to estimate demand functions. The only exception to this is cellular telephone (sometimes also called mobile telephone). It appears that this is too young an industry to have sufficient numbers of observations.

By and large, the best source of detailed U.S. data on thousands of products is the Predicasts Basebook (Ref HA 214 P73). The 1990 edition is found on the main floor in the reference section and back editions are upstairs in the stacks. I have made copies of the introductory pages on how to use the book and what is contained in it, as well as samples of the products which the students may wish to use. The 1990 book presents data ranging from 1976 to 1988 or 1989, with the most recent year subject to change. To obtain earlier years the editions from the early 1980s will be useful. There may be some differences in how the data is organized or reported the further back in time you go. Students may also wish to reference the Predicasts Forecasts (Ref HC 101 P72) for a 1989 or 1990 forecast.

The Statistical Abstract of the United States is also a good source for certain products such as telephone, life insurance, cable TV, railroad, trucking, computers, and securities. This source however, seems to vary more significantly in the products included and types of data, the further back you go. It may also require students to look at several editions to fill in the gaps in yearly data. The best data in this book appears to be on telephone, life insurance, railroad, and cable.

In case students have difficulty with the products they selected, I have also included categories such as farm commodities, hotels/motels and hospitals, which may work out better. If students need other information, or data for years not reported on, both these books list their data sources.

Finally, some other books I found which could be useful were: Data Sources for Business and Market Analysis, by Frank and Ganly (Ref HF 5415.124 F7) and the Nebraska Statistical Handbook (Doc NB/E1500 S001). Also included here are copies from the American Statistics Index which lists government documents on various products in both U.S. and foreign markets.

ADDITIONAL STATISTICAL SOURCES

Stephen Schoening

9/24/92

(as edited by Art Diamond)

 

ASI

ASI, or the American Statistics Index, indexes statistics from the U.S. federal government from 1960 to present. The ASI indexes and abstracts (call no. HA 214 G8 A5) are found on the first floor of the library on the reference tables (west side of library). First, look up the subject area or geographical area of interest in the index volume. This index volume then gives references to abstracts of articles or statistical works. These abstracts are found in the corresponding ASI abstract volume. Most abstracts can be found in their complete form in microfiche in the reserve room in the lower level of the library. There are drawers specifically marked "ASI" where the appropriate microfiche is stored. Some documents are not on microfiche, in which case the documents department of the library may have a hard copy of the journal or government document.

The ASI material is very extensive and well-organized. Once you learn the system, it is very easy to use. It is a self-contained system, so you don't have to go all over the library seeking the information, looking up call numbers of journals, using inter-library loan, etc. Most of the information in the indexes and abstracts is on the ASI microfiche.

For more detailed information on ASI, see the UNO library's publication "Library Facts -- ASI."

 

SRI

SRI is a collection of statistics published by state government agencies, U.S. associations and institutes, businesses, commercial publishers, independent research centers, and universities for the period 1980 to the present. It is a complement to ASI, and has indexes and abstracts similar to those of ASI. SRI (call no. Tables HA37 U55 S79) is also on the reference tables on the west side of the first floor of the library. Most of the documents abstracted in the SRI are found in the documents room on the lower level on microfiche.

For more detailed information on SRI, see the UNO library's publication "Library Facts -- SRI."

 

IIS

The Index to International Statistics (IIS) is similar to ASI and SRI, but the source documents are the statistical publications of intergovernmental organizations. The library has indexes on the reference tables only for 1993, but has microfiche going back a couple of years before this. Since the indexing is identical, a student can find a 1990 or 1991 document in the area of interest by knowing the index number of a similar 1993 document.

 

Agricultural Chemicals -- Source Material

1987 Census of Manufactures call no. C3.24/8 MC 87-I-28

1972-1987 information about fertilizer use per year. Categories include: value added, cost of materials, value of shipments, new capital expenditures, end of year inventories. For 1982 and 1987, very detailed information is given on product shipment, quantity, and value for different kinds of fertilizers, herbicides and pesticides. I believe this document if available both on the lower level in the documents section as well as on the first floor in the reference section. There also is a 1977 Census of Manufactures on the shelf which would probably have similar material for previous years.

Annual Survey of Manufactures call no. DOC C3.24/9-2

Gives values of shipments of product classes. Includes pesticides, nitrogenous fertilizers, urea, pharmaceutical preparations for veterinary use, for the five years ending 1981. Another table gives employees, value added, cost of materials, value of shipments, new capital expenditures, and end of year inventories.

1991 Statistical Abstract of the United States call no. DOC C3.134

Has farm expenditures for fertilizer and lime, pesticides, etc. 1970-1989, exports and imports of fertilizers as a whole, prices paid by farmers for agricultural chemicals as a whole 1980, 85, 89, 90, usage (no. of acres, percent of acres treated with fertilizers, herbicides and insecticides for 1971-1989). Agricultural chemicals used on farms in 1982 and 1987, fertilizer, lime, herbicides, insecticides, acres and cost.

ASI 1992 9804 (From TVA Market Research: Commercial Fertilizers, 1991)

Tables of information include U.S. consumption of fertilizers and plant nutrients for all years 1960-1991 given in short tons, also total fertilizer consumed, U.S. and regions years ended 1990 and 1991 listed in detail by type of fertilizer. Information for previous years probably available in previous issues of this document.

 

Veterinary Products

1987 Census of Manufactures C3.24/4 MC 87-I-28C

Gives pharmaceuticals for veterinary use, establishments, employees, value added, cost of materials, value of shipments, new capital expenditures information for 1982 and 1987. Also detailed information for 1982 value of product shipments by preparation. Also gives value of shipments data for veterinary pharmaceuticals as a whole for years 1972-1987 (not every year).

Annual Survey of Manufactures call no. DOC C3.24/9-2

Gives values of shipments for pharmaceutical preparations for veterinary use for the last 5 years.

 

Credit Cards

1991 Statistical Abstract of the United States call no. DOC C3.134

Includes table on credit cards: holders, numbers, spending, and debt, 1980 and 1989, and projections, 2000 by type: bank, oil company, phone, retail store, travel & entertainment, etc. Delinquency rates 1970-1989 are also included. The data is all taken from the Nilson Report.

Other sources I have looked at all quote the Nilson Report, which the library does not carry.

 

REPORT ON TIME SERIES DATA FOR DEMAND FUNCTION ESTIMATION

Mike May

9/17/91

(updated by Stephen Schoening and edited by Art Diamond)

 

 

There appears to be sufficient data on most of the products which students have signed up for in order for them to estimate data functions. The only exception to this is cellular telephone (sometimes also called mobile telephone). It appears that this is too young an industry to have sufficient numbers of observations.

By and large, the best source of detailed U.S. data on thousands of products is the Predicasts Basebook (Ref HA 214 P73). The 1992 edition is found on the main floor in the reference section and back editions are upstairs in the stacks. I have made copies of the introductory pages on how to use the book and what is contained in it, as well as samples of the products which the students may wish to use. The 1992 book presents data ranging from 1978 to 1990 or 1991, with the most recent year subject to change. To obtain earlier years the editions from the 1980s will be useful. There may be some differences in how the data is organized or reported the further back in time you go. Students may also wish to reference the Predicasts Forecasts (Ref HC 101 P72) for a 1991 or 1992 forecast.

The Statistical Abstract of the United States (Ref C3.134:yr) is also a good source for certain products such as telephone, life insurance, cable TV, railroad, trucking, computers, and securities. This source, however, seems to vary more significantly in the products included and types of data the further back you go. It may also require students to look at several editions to fill in the gaps in yearly data. The best data in this book appears to be on telephone, life insurance, railroad, and cable. The current year's edition is held at the reference desk and previous years are found in the documents section on the lower level.

In case students have difficulty with the products they selected, I have also included categories such as farm commodities, hotels/motels and hospitals, which may work out better. If students need other information, or data for years not worked on, both these books list their data sources.

Finally, some other books I found which could be useful were: Data Sources for Business and Market Analysis, by Frank and Ganly (Ref HF 5415.124 F7) and the Nebraska Statistical Handbook (Doc NB/E1500 S001). Also included here are copies from the American Statistics Index which lists government documents on various products in both U.S. and foreign markets.

ADDITIONAL STATISTICAL SOURCES

Stephen Schoening

8/20/93

(as edited by Art Diamond)

Statistical Masterfile

The Statistical Masterfile is a CD-ROM index to statistical materials available on microfiche in ASI, SRI, and IIS (see below). The only computer with the Statistical Masterfile is located on the first floor opposite the reference section under the wall clock. The SMF is on two disks, both in cassette 2. One disk has statistics for the period 1973-1985, and the other covers the period 1985-1991. The system is menu driven and easy to use. An advantage of the SMF is that the student can find out what is available in ASI, SRI, and IIS in one search. However, material after 1991 is not covered on the disks and is only found in the hard copy indexes. Also, if the exact search terms needed are not known, it may be a better idea to look at the hard copy indexes.

Once the search is completed and a list of documents dealing with the subject matter ("title list") is obtained, you can press enter and get a full record display with information about the source publication: how to order it and whether it is available on microfiche.

ASI

ASI, or the American Statistics Index, indexes statistics from the U.S. federal government from 1960 to present. The ASI indexes and abstracts (call no. HA 214 G8 A5) are found on the first floor of the library on the reference tables (west side of library). First, look up the subject area or geographical area of interest in the index volume. This index volume then gives references to abstracts of articles or statistical works. These abstracts are found in the corresponding ASI abstract volume. Most abstracts can be found in their complete form in microfiche in the reserve room in the lower level of the library. There are drawers specifically marked "ASI" where the appropriate microfiche is stored. Some documents are not on microfiche, in which case the documents department of the library may have a hard copy of the journal or government document.

The ASI material is very extensive and well-organized. Once you learn the system, it is easy to use. It is a self-contained system, so you don't have to go all over the library seeking the information, looking up call numbers of journals, using inter-library loan, etc. Most of the information in the indexes and abstracts is on the ASI microfiche.

For more detailed information on ASI, see the UNO library's publication "Library Facts -- ASI."

 

SRI

SRI is a collection of statistics published by state government agencies, U.S. associations and institutes, businesses, commercial publishers, independent research centers, and universities for the period 1980 to the present. It is a complement to ASI, and has indexes and abstracts similar to those of ASI. SRI (call no. Tables HA37 U55 S79) is also on the reference tables on the west side of the first floor of the library. Most of the documents abstracted in the SRI are found in the documents room on the lower level on microfiche.

For more detailed information on SRI, see the UNO library's publication "Library Facts -- SRI."

IIS

The Index to International Statistics (IIS) is similar to ASI and SRI, but the source documents are the statistical publications of intergovernmental organizations. The library has indexes on the reference tables only for 1993, but has microfiche going back a couple of years before this. Since the indexing is identical, a student can find a 1990 or 1991 document in the area of interest by knowing the index number of a similar 1993 document.

Ice Cream -- Source Material

Latest Scoop Worldwide: Facts and Figures on Ice Cream and Related Products

This is an annual publication of the International Ice Cream Association. It is available in SRI (latest issue is SRI 1992 A5825-1). Has detailed information about production, consumption, and prices of ice cream. Although some information goes back as far as 1899, detailed information is only available for the last few years. The library has this publication on SRI microfiche back to 1987.

Statistical Abstract of the United States call no. DOC C3.134

Current edition has per capital consumption of ice cream for 1970, 75, 80, and every year from 85-90. Using older editions would fill in gaps. Source is USDA document. Also has production of ice cream of all kinds, also ice milk for 1970, 80, and every year from 1984-90.

Predicasts Basebook 1992 (Ref HA 214 P73)

Has ice cream and frozen dessert expenditures for different categories such as employment information, production, shipments, consumption, and vending machine sales. Information comes from the Annual Survey of Manufactures.

 

Electricity

Statistical Abstract of the United States 1992 call no. DOC C3.134

Electric Utility Industry -- Net Generation, Net Summer Capability, Generating Units, and Consumption of Fuels: 1970 to 1990 (1970, 1980, 1984, then every year)

Electric Utility Sales and Average Prices, by End-Use Sector: 1970-1990 (1970, 1973, 75, 79, then every year)

Also sales by class of service, electric energy generation and installed generating capacity, nuclear power plants, electric utilities generation, sales, revenue, and customers 1970 to 1990, world summary 1970 to 1989 production of electricity and electric energy production by country, 1980 and 1989.

Predicasts Basebook

Electric power sales from 1978-1991 every year by total, private utilities, customers, etc. Itemized by customer: residential and industrial by industry. Source is the Annual Survey of Manufactures. There are also other statistics from other sources.

Electrical Wiring in Cars

There may be information available through interlibrary loan. The Henderson Electronic Market Forecast has a lot of information on automotive electronics. It is not in the library nor is it available through UNCOVER.

Agricultural Equipment

Implement and Tractor

This is a journal which SRI uses (SRI yr C3450-1). It lists sales of each type of farm vehicle from the past two years.

Statistical Abstract of the U.S. 1992

Manufactures -- Summary, by Industry Group, 1982, 87, and 90

Farm and Garden Machinery (establishments, employees, and value of shipments)

Predicasts Basebook 1992

Farm Machinery 1978-1991 consumption, expenditures, employment figures, inventory shipment, imports. Also type of equipment shipments listed in dollars and units. Sources include the Annual Survey of Manufactures.