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“Sweeping The Heavens For A Comet”: Women, The Language Of Political Economy, And Higher Education In The United States, Ann Mari May
“Sweeping The Heavens For A Comet”: Women, The Language Of Political Economy, And Higher Education In The United States, Ann Mari May
Department of Economics: Faculty Publications
The importance of increased levels of education in improving the status of women throughout the world is well established. Higher levels of education are associated with lower birth rates, higher incomes, and greater autonomy for women. Yet, women’s struggle to have a voice in higher education has been fraught with difficulties in the US and worldwide, particularly in overcoming widely held perceptions that limit their entrance into certain academic fields, tenured positions, and elite universities. This essay examines the role political economy has played in providing narratives that rationalize women’s limited participation in higher education. By examining the representation of …
Assessing The Forecasting Accuracy Of Alternative Nominal Exchange Rate Models: The Case Of Long Memory, David Karemera, Benjamin J. C. Kim
Assessing The Forecasting Accuracy Of Alternative Nominal Exchange Rate Models: The Case Of Long Memory, David Karemera, Benjamin J. C. Kim
Department of Economics: Faculty Publications
This paper presents an autoregressive fractionally integrated moving-average (ARFIMA) model of nominal exchange rates and compares its forecasting capability with the monetary structural models and the random walk model. Monthly observations are used for Canada, France, Germany, Italy, Japan, and the United Kingdom for the period of April 1973 through December 1998. The estimation method is Sowell’s (1992) exact maximum likelihood estimation. The forecasting accuracy of the long-memory model is formally compared to the random walk and the monetary models, using the recently developed Harvey, Leybourne, and Newbold (1997) test statistics. The results show that the long memory model is …
The U.S. Tax System In International Perspective, John E. Anderson, Council Of Economic Advisers
The U.S. Tax System In International Perspective, John E. Anderson, Council Of Economic Advisers
Department of Economics: Faculty Publications
All governments face two important decisions. They must choose the scope and scale of public goods and services to provide for their citizens, and they must also decide how to collect the funds to finance those public services. Chapter 5, The U.S. Tax System in International Perspective, examines U.S. choices in the context of other countries. It makes three key points:
• Fundamental choices about tax systems matter because they affect the living standards of citizens.
• The United States has made different choices from other countries. The United States has a relatively low tax burden compared to the rest …
Working Hours In Japan: Who Is Time-Privileged?, Scott M. Fuess Jr.
Working Hours In Japan: Who Is Time-Privileged?, Scott M. Fuess Jr.
Department of Economics: Faculty Publications
In the U.S. the relationship between hours worked and employee earnings has been reversed. Whereas the highest earners used to work the shortest hours, now they work the longest hours. This study examines whether such a reversal has occurred elsewhere, namely, Japan. Since the early 1990s the Japanese government has sought to transform the country into a “lifestyle superpower” by trying to encourage more daily time for leisure and less time on the job. Analyzing data for 1976-2003, it is clear that scheduled and actual working hours did indeed fall after 1990. During the early years of the sample, 1976-89, …
Foreign Direct Investment And Economic Growth: A Time-Series Approach, Atrayee Ghosh Roy, Hendrik F. Van Den Berg
Foreign Direct Investment And Economic Growth: A Time-Series Approach, Atrayee Ghosh Roy, Hendrik F. Van Den Berg
Department of Economics: Faculty Publications
Research has often focused on how foreign direct investment (FDI) transfers technology from developed economies to less developed economies. Most FDI occurs between developed economies, however, and the country receiving the greatest inflow of FDI is the United States. This paper examines whether such FDI inflows have stimulated growth of the U.S. economy. We apply time-series data to a simultaneous-equation model (SEM) that explicitly captures the bi-directional relationship between FDI and U.S. economic growth. FDI is found to have a significant, positive, and economically important impact on U.S. growth. Also, our SEM estimates reveal that FDI growth is income inelastic. …
Leisure Time In Japan: How Much And For Whom?, Scott M. Fuess Jr.
Leisure Time In Japan: How Much And For Whom?, Scott M. Fuess Jr.
Department of Economics: Faculty Publications
Japan is famous for long working hours. For decades the Japanese government has tried to influence how people spend their free time. In 5-yearly surveys since 1986, the government has surveyed “quality of life” by gauging how much time people spend daily in various “noneconomic” activities. Using results from the 1986, 1991, 1996, and 2001 surveys, this study determines whether time spent daily on leisure activities has actually changed. Controlling for labor market forces, in recent years Japanese adults have not experienced more leisure time overall. They have increased time spent, one hour per week, in media-oriented leisure; this increase, …
Trends In High Incomes And Behavioral Responses To Taxation: Evidence From Executive Compensation And Statistics Of Income Data, Nada O. Eissa, Seth H. Giertz
Trends In High Incomes And Behavioral Responses To Taxation: Evidence From Executive Compensation And Statistics Of Income Data, Nada O. Eissa, Seth H. Giertz
Department of Economics: Faculty Publications
This paper examines income trends from 1992 to 2004 and the responsiveness of different income measures to tax changes for corporate executives and for the very highest income U.S. taxpayers. We detail the growth in executive compensation and break down the components of that growth by sources, such as the value of options and stock grants, as well as bonus income. We then examine income trends at various points in the income distribution for executives and for all taxpayers. An empirical strategy similar to that employed by Goolsbee (2000) is then used to examine the responsiveness to tax rates of …
The Elasticity Of Taxable Income During The 1990s: A Sensitivity Analysis, Seth H. Giertz
The Elasticity Of Taxable Income During The 1990s: A Sensitivity Analysis, Seth H. Giertz
Department of Economics: Faculty Publications
This paper examines alternative methodologies for measuring responses to the 1990 and 1993 federal tax increases. The methodologies build on those employed by Gruber and Saez (2002), Carroll (1998), and Auten and Carroll (1999). Internal Revenue Service tax return data for the project are from the Statistics of Income, which heavily oversamples high-income filers. Special attention is paid to the importance of sample income restrictions and methodology. Estimates are broken down by income group to measure how responses to tax changes vary by income. In general, estimates are quite sensitive to a number of different factors. Using an approach similar …