{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2023,10,17]],"date-time":"2023-10-17T23:40:02Z","timestamp":1697586002064},"reference-count":22,"publisher":"Wiley","issue":"6","license":[{"start":{"date-parts":[[2003,9,4]],"date-time":"2003-09-04T00:00:00Z","timestamp":1062633600000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["J of Applied Econometrics"],"published-print":{"date-parts":[[2003,11]]},"abstract":"<jats:title>Abstract<\/jats:title><jats:p>A practical aggregation method for heterogeneous log\u2010linear functions is presented. Inequality measures are employed in the construction of a simple but exact aggregate representation of an economy. Three macroeconomic applications are discussed: the aggregation of the Lucas supply function, the time\u2010inconsistent behaviour of an egalitarian social planner facing heterogeneous discount rates, and the case of a simple heterogeneous growth model. In the latter application, aggregate CPS data is used to show that the slowdown that followed the first oil shock is worse than usually thought, and that the \u2018new economy\u2019 growth resurgence is not as strong as it appears.\n<jats:disp-quote content-type=\"quotation\"><jats:p>The reaction of one man could be forecast by no known mathematics; the reaction of a billion is something else again.\u2014<jats:italic>Foundation and Empire<\/jats:italic>, Isaac Asimov (1952)<\/jats:p><\/jats:disp-quote>\n Copyright \u00a9 2003 John Wiley &amp; Sons, Ltd.<\/jats:p>","DOI":"10.1002\/jae.715","type":"journal-article","created":{"date-parts":[[2003,12,4]],"date-time":"2003-12-04T08:00:35Z","timestamp":1070524835000},"page":"665-678","source":"Crossref","is-referenced-by-count":1,"title":["A practical log\u2010linear aggregation method with examples: heterogeneous income growth in the USA"],"prefix":"10.1002","volume":"18","author":[{"given":"Pedro H.","family":"Albuquerque","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2003,9,4]]},"reference":[{"key":"e_1_2_9_2_1","volume-title":"Handbook of Mathematical Functions with Formulas, Graphs and Mathematical Tables","author":"Abramowitz M","year":"1972"},{"key":"e_1_2_9_3_1","doi-asserted-by":"publisher","DOI":"10.2307\/2298128"},{"key":"e_1_2_9_4_1","volume-title":"Lectures on Macroeconomics","author":"Blanchard OJ","year":"1989"},{"key":"e_1_2_9_5_1","doi-asserted-by":"publisher","DOI":"10.2307\/1241491"},{"key":"e_1_2_9_6_1","doi-asserted-by":"publisher","DOI":"10.2307\/1914138"},{"key":"e_1_2_9_7_1","doi-asserted-by":"publisher","DOI":"10.1086\/262023"},{"key":"e_1_2_9_8_1","doi-asserted-by":"publisher","DOI":"10.1017\/CBO9780511805653"},{"key":"e_1_2_9_9_1","doi-asserted-by":"publisher","DOI":"10.1016\/S0304-4076(99)00040-8"},{"key":"e_1_2_9_10_1","volume-title":"Information Theory and Statistics","author":"Kullback S","year":"1968"},{"key":"e_1_2_9_11_1","doi-asserted-by":"publisher","DOI":"10.1162\/003355397555253"},{"key":"e_1_2_9_12_1","doi-asserted-by":"publisher","DOI":"10.2307\/2297869"},{"key":"e_1_2_9_13_1","doi-asserted-by":"publisher","DOI":"10.1257\/jep.3.4.181"},{"key":"e_1_2_9_14_1","first-page":"326","article-title":"Some international evidence on output\u2013inflation tradeoffs","volume":"63","author":"Lucas RE","year":"1973","journal-title":"American Economic Review"},{"key":"e_1_2_9_15_1","doi-asserted-by":"publisher","DOI":"10.2307\/1912849"},{"key":"e_1_2_9_16_1","volume-title":"Measuring Income Inequality","author":"Nyg\u00e5rd F","year":"1981"},{"key":"e_1_2_9_17_1","doi-asserted-by":"publisher","DOI":"10.2307\/1913126"},{"key":"e_1_2_9_18_1","doi-asserted-by":"publisher","DOI":"10.2307\/1911190"},{"key":"e_1_2_9_19_1","doi-asserted-by":"publisher","DOI":"10.1086\/261407"},{"key":"e_1_2_9_20_1","first-page":"1827","article-title":"Empirical approaches to the problem of aggregation over individuals","volume":"31","author":"Stoker TM","year":"1993","journal-title":"Journal of Economic Literature"},{"key":"e_1_2_9_21_1","volume-title":"Linear Aggregation of Economic Relations","author":"Theil H","year":"1954"},{"key":"e_1_2_9_22_1","volume-title":"Economics and Information Theory","author":"Theil H","year":"1967"},{"key":"e_1_2_9_23_1","volume-title":"Principles of Econometrics","author":"Theil H","year":"1971"}],"container-title":["Journal of Applied Econometrics"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.wiley.com\/onlinelibrary\/tdm\/v1\/articles\/10.1002%2Fjae.715","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/pdf\/10.1002\/jae.715","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,10,17]],"date-time":"2023-10-17T23:08:46Z","timestamp":1697584126000},"score":1,"resource":{"primary":{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/10.1002\/jae.715"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2003,9,4]]},"references-count":22,"journal-issue":{"issue":"6","published-print":{"date-parts":[[2003,11]]}},"alternative-id":["10.1002\/jae.715"],"URL":"https:\/\/doi.org\/10.1002\/jae.715","archive":["Portico"],"relation":{},"ISSN":["0883-7252","1099-1255"],"issn-type":[{"value":"0883-7252","type":"print"},{"value":"1099-1255","type":"electronic"}],"subject":[],"published":{"date-parts":[[2003,9,4]]}}}