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Full-Text Articles in Business
Credit Risk Dynamics In Response To Changes In The Federal Funds Target: The Implication For Firm Short-Term Debt, Kwamie Dunbar, Abu S. Amin
Credit Risk Dynamics In Response To Changes In The Federal Funds Target: The Implication For Firm Short-Term Debt, Kwamie Dunbar, Abu S. Amin
WCBT Faculty Publications
The recent credit crisis has raised a number of interesting questions regarding the role of the Federal Reserve Bank and the effectiveness of its expected and unexpected interventions in financial markets, especiallyduring the crisis, given its mandate. This paper reviews and evaluates the impact of expected and unexpected changes in the federal funds rate target on credit risk premia. The paper's main innovation is the use of an ACH-VAR (autoregressive conditional hazard VAR) model to generate the Fed's expected and unexpected monetary policy shocks which are then used to determine the effects of a Federal Reserve policy change on counterparty …
Tobacco Politics And Electoral Accountability In The United States, Per G. Fredriksson, Khawaja Mamun
Tobacco Politics And Electoral Accountability In The United States, Per G. Fredriksson, Khawaja Mamun
WCBT Working Papers
This paper investigates whether reputation-building strategies guide U.S. governors’ state cigarette tax choices, and whether the federal cigarette tax influences such behavior. Using 1975-2000 data, we find evidence that governors in states with relatively important agricultural tobacco production and tobacco manufacturing, and which are densely populated by smokers, appear prone to reputation-building. Moreover, lame ducks are more prone to raise the state cigarette tax the lower the federal tax.
Gubernatorial Reputation And Vertical Tax Externalities: All Smoke, No Fire?, Per G. Fredriksson, Khawaja Mamun
Gubernatorial Reputation And Vertical Tax Externalities: All Smoke, No Fire?, Per G. Fredriksson, Khawaja Mamun
WCBT Working Papers
This paper investigates whether reputation-building strategies guide U.S. governors’ responses to changes in federal cigarette taxes (i.e. vertical tax interactions). Using 1975-2000 state cigarette tax data, we find that reputation-building strategies affect the nature of vertical tax externalities. Lame duck governors exhibit a more negative response to changes in the federal cigarette tax. Thus, by reducing the state tax base and by causing a decline in the state tax, an increase in the federal tax rate reduces state tax revenues in states headed by lame ducks.
Effective Communication In The Intranational Workplace: Models For Public Sector Managers And Theorists, John F. Kikoski
Effective Communication In The Intranational Workplace: Models For Public Sector Managers And Theorists, John F. Kikoski
Political Science & Global Affairs Faculty Publications
This article discusses theoretical models for effective interpersonal communication in the intranational workplace for public sector managers in the U.S. Effective communication is complete when the message has been understood. A message has been understood when it has been both clearly sent and received. Effective communication is a requisite to every step in the organizational process--from the mutual recognition and understanding of a topic or problem that triggered the communication in the first place to its final resolution. The second classical model of interpersonal communication was published by David Berlo. Berlo elaborated upon the Shannon-Weaver model. He recognized that interpersonal …