Social and Behavioral Sciences Commons^™

Private Value Determinations And The Potential Effect On The Future Of Research And Development, Amy L. Landers

Amy L. Landers

Although the promise of an emerging patent market is thought to provide future benefits to invention, innovation, and the public, this essay examines the possibility that the aggregate influence of this activity could instead destabilize patent values in a manner that mirrors the "bubble" phenomenon that occurred in certain markets in the past. To the extent that this occurs, this would destabilize the patent system and might have negative consequences for the future of investment in research, development and innovation.

A Rationale For Meeting Quotas Asymmetrically, J. Patrick Meister, Robert S. Main

Robert S. Main

Under certain conditions, otherwise identical, competing firms may find it jointly preferable to face differing degrees of trade barriers on individual products rather than symmetric trade barriers. The key is the ability to reduce marginal production cost via research and development. The economic significance of this insight is that there could be a role for a market for quota allotments. This insight also has applications to Voluntary Export Restraints in which a priori symmetric, restricted firms may prefer to have individual production levels allocated asymmetrically. This indicates the need for detailed studies of how quotas are met by individual firms. …

Willingness To Overpay For Insurance And For Consumer Credit: Search And Risk Behavior Under Price Dispersion, Sergey V. Malakhov

Sergey Malakhov

Slutsky Equation And Negative Elasticity Of Labor Supply: Behavioral Bias Or Optimal Consumption-Leisure Choice?, Sergey V. Malakhov

Sergey Malakhov

Equazione Di Slutsky “Nelle Loro Mani”: Il Centenario “Sulla Teoria Del Bilancio Del Consumatore”, Sergey V. Malakhov

Sergey Malakhov

The paper presents the illustrative classroom application of the Slutsky equation to the consumption-leisure choice.

Human Capital Formation And Economic Development In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Mahboob Ul Hassan, Muhammad Shahid

Muhammad Irfan Chani

This study investigates the casual relationship between economic development and formation of human capital in Pakistan. Based on endogenous growth theory, this study empirically tests the standard growth model consisting of gross domestic product (GDP) per capita as a dependent variable and human capital formation, investment in physical capital and labor force as independent variables. Autoregressive distributive lag (ARDL) bound testing approach to cointegration is used to check the long-run equilibrium relationship between the variables included in the model. For checking the causal relationship between economic development and human capital formation, pair-wise Granger causality test is used for time series …

Some Socio Economic Determinants Of Fertility In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Muhammad Shahid, Mahboob Ul Hassan

Muhammad Irfan Chani

This study aims to investigate the role that various socioeconomic factors like female education, urbanization and female labour force participation play in determining fertility of women in Pakistan. ARDL bound test approach to cointegration is used to analyze the long-run relationship of the variables by using the data for the period from 1980 to 2009. The empirical results show that there exists a long-run as well as short-run relationship between fertility and urbanization, female labour force participation and female education in Pakistan. The analysis indicates there is a negative relationship between all 3 determinants with fertility. Female education and urbanization …

Economic Freedom And Fiscal Performance: A Regression Analysis Of Indices Of Economic Freedom On Per Capita Gdp, Jason Ockey

Jason R Ockey

This paper explores whether different forms of economic freedom drive fiscal performance. We also seek to determine which specific measurements of economic freedom have the most statistically significant impacts. Though the results of our analysis show that economic freedom does impact levels of per capita GDP, the interpretation of these results is more complicated. Because some indices of economic freedom have negative effects on per capita GDP or are statistically insignificant, it is important to note that simply generally increasing a country’s overall level of economic freedom will not necessarily spur economic growth or increase fiscal performance. This paper does …

The Historical Background Of The Communist Manifesto, George R. Boyer

George R. Boyer

[Excerpt] The Manifesto of the Communist Party, published 150 years ago in London in February 1848, is one of the most influential and widely-read documents of the past two centuries. The historian A. J. P. Taylor (1967, p. 7) has called it a "holy book," and contends that because of it, "everyone thinks differently about politics and society." And yet, despite its enormous influence in the 20th century, the Manifesto is very much a period piece, a document of what was called the "hungry" 1840s. It is hard to imagine it being written in any other decade of the 19th …

The Poor Law, Migration, And Economic Growth, George R. Boyer

George R. Boyer

The loss to the English economy caused by decreased migration resulting from relief payments to agricultural laborers is estimated. I conclude that, at worst, the Poor Law had a small negative impact on national product. If poor relief and wages were substitutes, the Poor Law may have had a positive impact on capital formation and economic growth.

New Estimates Of British Unemployment, 1870-1913, George R. Boyer, Timothy J. Hatton

George R. Boyer

We present new estimates of the British industrial unemployment rate for 1870- 1913, which improve on the Board of Trade's prior estimates. We use similar sources, but our series includes additional industrial sectors, allows for short-time working, and aggregates the various sectors using appropriate labor-force weights from the census. The resulting index suggests a rate of industrial unemployment that was generally higher, but less volatile, than the board's index. We then adjust our series to an economywide basis, and construct a consistent time series of overall unemployment for 1870-1999.

Determination Of Import Demand In Pakistan: The Role Of Expenditure Components, Muhammad Irfan Chani, Zahid Pervaiz, Amatul R. Chaudhary

Muhammad Irfan Chani

The paper uses imperfect substitution approach to derive the aggregate import demand function on the basis of disaggregated expenditure components. This derived import demand function is then empirically tested for Pakistan by using co-integration and error correction mechanism. The empirical results show that elasticity of import demand with respect to different macro components of final expenditure is different. The import demand in Pakistan is affected positively and significantly by all expenditure components. The relative prices have negative but insignificant relationship with import demand in Pakistan. The findings indicate that use of aggregate expenditure variable in the aggregate import demand function …

Poverty, Inflation And Economic Growth: Empirical Evidence From Pakistan, Muhammad Irfan Chani, Zahid Pervaiz, Sajjad Ahmad Jan, Amjad Ali, Amatul R. Chaudhary

Muhammad Irfan Chani

This study aims to investigate the role of economic growth and inflation in explaining the prevalence of poverty in Pakistan. ARDL bound testing approach to co-integration confirms the existence of long run relationship among the variables of poverty, economic growth, inflation, investment and trade openness over the period of 1972-2008. Empirical results show that economic growth and investment have negative and inflation has positive impact on poverty. The effect of trade openness on poverty is insignificant in this study. The short run analysis reveals that economic growth has negative and inflation has positive impact on poverty whereas the role of …

Financial Crises And Economic Growth In Pakistan: A Time Series Analysis, Rauf -I- Azam, Iram Batool, Rabia Imran, Muhammad Irfan Chani, Ahmed Imran Hunjra, Javed Mahmood Jasra

Muhammad Irfan Chani

The purpose of this research is to investigate causal relationship between economic growth and major indicators of financial crisis -- inflation rate, interest rate and the volume of foreign debt-- in Pakistan. This study also highlights the stability of the relationship between indicators of financial crisis and economic growth. The annual time series data ranging from 1972 to 2010 is used for the analysis. Johansen's co-integration test is used to check the stability of long nm equilibrium relationship between the variables used in the study. The results indicate that is long nm stable equilibrium relationship between economic growth and the …

Gender Inequality And Economic Growth: A Time Series Analysis For Pakistan, Zahid Pervaiz, Muhammad Irfan Chani, Sajjad Ahmad Jan, Amatul R. Chaudhary

Muhammad Irfan Chani

This paper attempts to analyze the impact of gender inequality on economic growth of Pakistan. An annual time series data for the period of 1972-2009 has been used in this study. We have regressed growth rate of real gross domestic product (GDP) per capita on labour force growth, investment, trade openness and a composite index of gender inequality. The results reveal that labour force growth, investment and trade openness have statistically significant and positive impact whereas gender inequality has a significant and negative effect on economic growth of Pakistan.

A Note On Causal Relationship Between Fdi And Savings In Bangladesh, Mohammad Salahuddin, Muhammad Shahbaz Shahbaz, Muhammad Irfan Chani

Muhammad Irfan Chani

This paper aims to investigate the causal relationship between foreign direct investment and gross domestic savings in Bangladesh over a period of 1985-2007. In doing so, Johansen cointegration technique and error correction methods are employed to examine the long run and short run relationship between foreign direct investment and gross domestic savings. To determine the direction of causality, we used innovation accounting approach. Results suggest that there exist bi-directional causal relationship between foreign direct investment and gross domestic savings but the movement is stronger from domestic savings to foreign direct investment. The result also implies complimentary relationship between them and …

Being Consumed: Economics And Christian Desire, William Cavanaugh

William T. Cavanaugh

Are Christians for or against the free market? Should we not think of ourselves as consumers? Are we for or against globalization? How to we live in a world of scare resources? William Cavanaugh brings us a theological view and practice of everyday economic life with the use of Christian resources. He argues that we should not take the free market, consumer culture, globalization, and scarcity as givens, but change the terms of debate in each case. His consideration of the free market is not a question of for or against, but when exactly a market is truly free. He …

Democracy Autocracy And Macroeconomic Performance In Pakistan, Nasir Iqbal, Sardar Javaid Iqbal Khan, Muhammad Irfan Chani

Muhammad Irfan Chani

Pakistan showed a healthy growth rate of 5.6 percent during the entire history and faced many ups and downs in economic growth due to dramatic changes in political regimes. The literature shows mixed results regarding the impact of autocracy or democracy on economic growth. The aggregate growth of the economy under autocracy remained better as compared to democratic period. Financial indicators show consistent path through out the history of Pakistan. Different trade policies are designed in different regime to run the external sector and the impact of each policy was different.