Tax Cuts and Employment Growth in New Jersey: Lessons From a Regional Analysis

The Whitman Administration’s 30 percent reduction in New Jersey’s personal income taxes from 1994-96 is prominently cited as a role model for state fiscal policy. We investigate whether the growth benefits attributed to the Whitman tax cuts are warranted. Panel data methods are applied to annual observations of county-level employment growth from New Jersey and the surrounding economic region. Our analysis does not support the hypothesis that tax cuts stimulated employment growth in New Jersey. While New Jersey did experience substantial employment growth subsequent to the tax cuts, most of this growth was shared by the nearby Economic Areas.Tax cuts, economics growth

How To Pick The Best Regression Equation: A Review And Comparison Of Model Selection Algorithms

This paper reviews and compares twenty-one different model selection algorithms (MSAs) representing a diversity of approaches, including (i) information criteria such as AIC and SIC; (ii) selection of a “portfolio” or best subset of models; (iii) general-to-specific algorithms, (iv) forward-stepwise regression approaches; (v) Bayesian Model Averaging; and (vi) inclusion of all variables. We use coefficient unconditional mean-squared error (UMSE) as the basis for our measure of MSA performance. Our main goal is to identify the factors that determine MSA performance. Towards this end, we conduct Monte Carlo experiments across a variety of data environments. Our experiments show that MSAs differ substantially with respect to their performance on relevant and irrelevant variables. We relate this to their associated penalty functions, and a bias-variance tradeoff in coefficient estimates. It follows that no MSA will dominate under all conditions. However, when we restrict our analysis to conditions where automatic variable selection is likely to be of greatest value, we find that two general-to-specific MSAs, Autometrics, do as well or better than all others in over 90% of the experiments.Model selection algorithms; Information Criteria; General-to-Specific modeling; Bayesian Model Averaging; Portfolio Models; AIC; SIC; AICc; SICc; Monte Carlo Analysis; Autometrics

Effect of leading-edge geometry on boundary-layer receptivity to freestream sound

The receptivity to freestream sound of the laminar boundary layer over a semi-infinite flat plate with an elliptic leading edge is simulated numerically. The incompressible flow past the flat plate is computed by solving the full Navier-Stokes equations in general curvilinear coordinates. A finite-difference method which is second-order accurate in space and time is used. Spatial and temporal developments of the Tollmien-Schlichting wave in the boundary layer, due to small-amplitude time-harmonic oscillations of the freestream velocity that closely simulate a sound wave travelling parallel to the plate, are observed. The effect of leading-edge curvature is studied by varying the aspect ratio of the ellipse. The boundary layer over the flat plate with a sharper leading edge is found to be less receptive. The relative contribution of the discontinuity in curvature at the ellipse-flat-plate juncture to receptivity is investigated by smoothing the juncture with a polynomial. Continuous curvature leads to less receptivity. A new geometry of the leading edge, a modified super ellipse, which provides continuous curvature at the juncture with the flat plate, is used to study the effect of continuous curvature and inherent pressure gradient on receptivity

On Estimating Marginal Tax Rates and Tax Progressivities for U.S. States

This research presents a simple procedure for improving state-specific estimates of marginal tax rates (MTR’s). Most research employing MTR’s follows a procedure developed by Koester and Kormendi (K&K, 1987). Unfortunately, the time-invariant nature of the K&K estimates precludes their use as explanatory variables in panel data studies. Furthermore, their estimates are not based on statutory tax parameters. In contrast, our procedure produces timevarying estimates of MTR’s that are directly related to observed changes in statutory tax parameters. Using comprehensive data on state tax policy parameters, our procedure produces state-specific MTR’s estimates for all 50 states over the years 1977-2004. We compare our refined MTR’s to alternative estimates and evaluate implications for estimating tax progressivity for US states.State tax revenues; Marginal tax rates; Tax burden; Tax progressivity; Economic growth.

Surface tension induced convection in encapsulated liquid metals in microgravity: Apollo-Soyuz test project experiment no. MA-041

This experiment was designed to determine the extent of surface tension induced convection caused by a steplike compositional variation in a liquid metal. Preliminary results are presented

Development and application of computer software techniques to human factors task data handling problems Final report, 21 Jun. 1965 - 21 Jun. 1966

Computer software techniques applied to human factors task data handling problem

Automatic mapping of strip mine operations from spacecraft data

The author has identified the following significant results. Computer techniques were applied to process ERTS tapes acquired over coal mining operations in southeastern Ohio on 21 August 1972 and 3 September 1973. ERTS products obtained included geometrically-correct map overlays, at scales from 1:24,000 to 1:250,000, showing stripped earth, partially reclaimed earth, water, and natural vegetation. Computer-generated tables listing the area covered by each land-water category in square kilometers were also produced. By comparing these mapping products, the study demonstrates the capability of ERTS to monitor changes in the extent of stripping and reclamation. NASA C-130 photography acquired on 7 September 1973 when compared with the ERTS products generated from the 3 September 1973 tape established the categorization accuracy to be better than 90%. It is estimated that the stripping and reclamation maps and data were produced from the ERTS CCTs at a tenth of the cost of conventional techniques

Automated strip-mine and reclamation mapping from ERTS

The author has identified the following significant results. Computer processing techniques were applied to ERTS-1 computer-compatible tape (CCT) data acquired in August 1972 on the Ohio Power Company's coal mining operation in Muskingum County, Ohio. Processing results succeeded in automatically classifying, with an accuracy greater than 90%: (1) stripped earth and major sources of erosion; (2) partially reclaimed areas and minor sources of erosion; (3) water with sedimentation; (4) water without sedimentation; and (5) vegetation. Computer-generated tables listing the area in acres and square kilometers were produced for each target category. Processing results also included geometrically corrected map overlays, one for each target category, drawn on a transparent material by a pen under computer control. Each target category is assigned a distinctive color on the overlay to facilitate interpretation. The overlays, drawn at a scale of 1:250,000 when placed over an AMS map of the same area, immediately provided map locations for each target. These mapping products were generated at a tenth of the cost of conventional mapping techniques

Independent electrons model for open quantum systems: Landauer-Buettiker formula and strict positivity of the entropy production

A general argument leading from the formula for currents through an open noninteracting mesoscopic system given by the theory of non-equilibrium steady states (NESS) to the Landauer-Buettiker formula is pointed out. Time reversal symmetry is not assumed. As a consequence it follows that, as far as the system has a nontrivial scattering theory and the reservoirs have different temperatures and/or chemical potentials, the entropy production is strictly positive.Comment: 12 pages. Submitted for publication in J. Math. Phys. on 2006-06-05. Revision and extension of: G. Nenciu, A general proof of Landauer-Buettiker formula, [math-ph/0603030