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St. Cloud Area Quarterly Business Report, Vol. 8, No. 3, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report, Vol. 8, No. 3, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report
No abstract provided.
Some Evidence On The Relationship Between Performance Related Pay And The Shape Of The Experience-Earnings Profile, Sarah Brown, John G. Sessions
Some Evidence On The Relationship Between Performance Related Pay And The Shape Of The Experience-Earnings Profile, Sarah Brown, John G. Sessions
Economics Seminar Series
We investigate the relationship between the cost of procuring adequate worker effort over time and the shape of workers’ experience-earnings profiles. In particular, we argue that the slope of the profile depends critically upon the degree of ‘equity’ held by workers in their enterprise as measured by the extent of performance related pay (PRP). The implication is that the slope of the profile for PRP workers falls between those of their zero-equity fixed wage, and one hundred per cent equity self-employed, counterparts. Our empirical analysis of three British data sets, namely the British Social Attitudes Survey, the British Household Panel …
St. Cloud Area Quarterly Business Report, Vol. 8, No. 2, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report, Vol. 8, No. 2, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report
No abstract provided.
St. Cloud Area Quarterly Business Report, Vol. 8, No. 1, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report, Vol. 8, No. 1, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report
No abstract provided.
St. Cloud Area Quarterly Business Report, Vol. 7, No. 4, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report, Vol. 7, No. 4, King Banaian, Richard A. Macdonald
St. Cloud Area Quarterly Business Report
No abstract provided.
Spring 2006 Economics Newsletter, Economics Department
Spring 2006 Economics Newsletter, Economics Department
Economics Newsletter
No abstract provided.
Summer 2006 Economics Newsletter, Economics Department
Summer 2006 Economics Newsletter, Economics Department
Economics Newsletter
No abstract provided.
Fall 2006 Economics Newsletter, Economics Department
Fall 2006 Economics Newsletter, Economics Department
Economics Newsletter
No abstract provided.
Long Memory Versus Structural Breaks In Modeling And Forecasting Realized Volatility, Wei-Choun Yu, Kyongwook Choi, Eric Zivot
Long Memory Versus Structural Breaks In Modeling And Forecasting Realized Volatility, Wei-Choun Yu, Kyongwook Choi, Eric Zivot
Economics Seminar Series
In this paper, we explore the possibilities of structural breaks in the realized volatility with the observed long-memory property for the Deutschemark/Dollar, Yen/Dollar and Yen/Deutschemark spot exchange rate realized volatility. The paper finds the substantial reduction of persistence of realized volatility after removing the breaks. Our VAR-RV-Break model provides the superior predictive ability compared to most of the forecasting models when the future break is known. The VAR-RV-I(d) long memory model, however, is still the best forecasting model even when the true financial volatility series are created by structural breaks with unknown break dates and size.
Major League Duopolists: When Baseball Clubs Play In Two-Team Cities, Phillip Miller
Major League Duopolists: When Baseball Clubs Play In Two-Team Cities, Phillip Miller
Economics Seminar Series
This paper focuses on examining the attendance of MLB teams that play home games in the same metropolitan area – duopoly teams. Comparisons were made between the determinants of attendance for duopoly teams and monopoly teams. While duopoly and monopoly teams share most of the same determinants, the estimated weights on some determinants differ. There is evidence that one duopolist’s attendance is negatively related to the other’s performance. Evidence is therefore provided that fans of one team respond to quality changes in the other team in a city.
An Economic Approach To Allocating River Water To Estuaries In South Africa, Stephen Hosking
An Economic Approach To Allocating River Water To Estuaries In South Africa, Stephen Hosking
Economics Seminar Series
Estuaries are last in line as a recipient of river water and for this reason they are particularly vulnerable to negative environmental impacts due to water scarcity and pollution. They only receive the runoff that has not been abstracted or prevented from reaching rivers. When this runoff is substantially reduced their functionality is undermined and they often become less attractive for recreational use. This paper explores some aspects entailed in efficiently managing the allocation of water to estuaries problem and some associated problems. It is shown that efficient management requires the marginal social costs of the inflows to be brought …
Incentivizing Experiments: Monetary Rewards Versus Extra Credits, Mana Komai, Philip Grossman
Incentivizing Experiments: Monetary Rewards Versus Extra Credits, Mana Komai, Philip Grossman
Economics Faculty Working Papers
We use laboratory experiments with different salient rewards (monetary rewards versus extra credits) to study collective decision making behavior under different informational structures. The results show that even though subjects’ behavior follows a similar pattern in both cases, subjects tend to act more efficiently when they are compensated with extra credits rather than money.
Arab-U.S. Migration: The Effects Of Exchange Rates, Politics And Oil, Örn B. Bodvarsson, Abbas Mehdi
Arab-U.S. Migration: The Effects Of Exchange Rates, Politics And Oil, Örn B. Bodvarsson, Abbas Mehdi
Economics Faculty Working Papers
We hypothesize that exchange rates, commodity prices and geopolitical instability can affect international migration. If migrants send their earnings home, then appreciation of the destination country’s currency will make remittances more valuable in the home country, raising the likelihood of migration. Higher commodity prices in the home country can, on the one hand, discourage migration because of improved labor market opportunities at home, but can, on the other, encourage migration because greater prosperity makes relocation more affordable. Some parts of the World, for example the Middle East, have experienced considerable geopolitical instability, which may have induced greater levels of supply-push …
A Test Of Congressional Voting On Immigration Restrictions, Örn B. Bodvarsson, King Banaian, Anton D. Lowenberg
A Test Of Congressional Voting On Immigration Restrictions, Örn B. Bodvarsson, King Banaian, Anton D. Lowenberg
Economics Faculty Working Papers
Immigration policy is supplied endogenously through a political process that weighs the impacts of immigration on factor owners, together with other interests, in determining policy outcomes. The relative significance of constituent interests and legislator ideology in shaping policy is tested by identifying the correlates of congressional voting on immigration legislation. Conservative lawmakers are found to generally support stricter immigration controls. Legislators representing border states and urban areas favor looser restrictions, possibly reflecting the political influence of recent immigrants. There is evidence that immigration reform is a normal good and that substitutability between native and immigrant labor promotes tighter immigration restrictions.
Immigration Of Highly Skilled Professionals: Discrimination In Professional Baseball?, Örn B. Bodvarsson, Scott M. Fuess, Jr.
Immigration Of Highly Skilled Professionals: Discrimination In Professional Baseball?, Örn B. Bodvarsson, Scott M. Fuess, Jr.
Economics Faculty Working Papers
Are highly skilled foreign professionals paid differently than their native-born counterparts? To address this question, this study focuses on a particular profession with substantial inflows of immigrants, in which human capital is readily transferrable: Major League Baseball (MLB). Racial discrimination in professional sports has received considerable attention, but it remains to be seen whether there has been differential treatment of foreign athletes. Focusing on a 1997-1998 sample of 557 MLB players, we find that foreign players are indeed treated differently than native-born players, favorably in some respects and unfavorably in others. Moreover, when controlling for birthplace, the extent of racial …