余弦度量作为结构性经济相似性测度
Cosine metric as a structural economic similarity measure
- Pforzheim University（普福尔茨海姆大学）
- University of Cologne（科隆大学）
机构由 AI 辅助整理，请以论文原文为准。
AI总结：
本文提出用系数向量夹角的余弦度量经济机制的结构相似性，并开发推断程序；应用于1992年新泽西州最低工资改革，发现改革虽影响低工资分布，但工资决定机制本身未变。
AI中文摘要：
结构相似性，即经济机制对共同冲击作出类似反应的程度，对于经济预测、政策移植以及其他依赖可比环境证据的决策至关重要。对于由线性模型近似的机制，这一概念具有简单的几何表示：其系数向量之间的夹角越小，它们对相同冲击的反应就越相似。本文引入该夹角的余弦作为结构相似性的度量，并开发了相应的推断程序。将该方法应用于1992年最低工资改革前后新泽西州的工资机制，得出了有趣的证据：尽管该改革明显影响了工资分布的低工资部分，但将工人特征与工资联系起来的潜在机制与没有改革时的情况并无不同。
英文摘要：
Structural similarity, the extent to which economic mechanisms respond alike to common shocks, matters for economic forecasting, policy transfer, and other decisions that rely on evidence from comparable settings. For mechanisms approximated by linear models, this idea has a simple geometric representation: The smaller the angle between their coefficient vectors, the more similarly they respond to the same shock. This paper introduces the cosine of this angle as a measure of structural similarity and develops the corresponding inference procedure. Applied to New Jersey's wage mechanism around the 1992 minimum-wage reform, the approach yields interesting evidence: Although the reform clearly affected the low-wage part of the wage distribution, the underlying mechanism linking worker characteristics to wages was no different from what would have prevailed without it.
