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Social and Behavioral Sciences Commons™
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- Keyword
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- Globalization (5)
- India (4)
- Exchange rates (3)
- Fragmentation (3)
- Production networks (3)
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- Production sharing (3)
- Terrorism (3)
- United States (3)
- Value of a statistical life (3)
- Asia (2)
- Asset inflation (2)
- Compliance (2)
- Democracy (2)
- Development (2)
- Economic development (2)
- Economic growth (2)
- Environmental auditing (2)
- Exchange rate regimes (2)
- Growth (2)
- International trade (2)
- Macroeconomics (2)
- Non-tradables (2)
- North American Free Trade Agreement (2)
- Open economy macro (2)
- Open-economy macro (2)
- Regional integration (2)
- Risk aversion (2)
- Tax rates (2)
- Trade (2)
- Trade balance (2)
Articles 1 - 30 of 65
Full-Text Articles in Social and Behavioral Sciences
How Global Rules And Markets Are Shaping India’S Rise On The International Stage, Aseema Sinha
How Global Rules And Markets Are Shaping India’S Rise On The International Stage, Aseema Sinha
CMC Faculty Publications and Research
Over the last quarter century, India has shifted from a hesitant economic power to a confident player on the international stage. In her new book, Aseema Sinha draws on extensive research to ask where this global activism has come from, and considers the international dimensions of domestic change. Here she discusses how her findings challenge standard narratives on globalisation and the supposedly homegrown character of India’s reform trajectory.
The Developmental Effect Of State Alcohol Prohibitions At The Turn Of The 20th Century, Mary F. Evans, Eric Helland, Jonathan Klick, Ashwin Patel
The Developmental Effect Of State Alcohol Prohibitions At The Turn Of The 20th Century, Mary F. Evans, Eric Helland, Jonathan Klick, Ashwin Patel
CMC Faculty Publications and Research
We examine the quasi-randomization of alcohol consumption created by state-level alcohol prohibition laws passed in the United States in the early part of the twentieth century. Using a large dataset of World War II enlistees, we exploit the differential timing of these laws to examine their effects on adult educational attainment, obesity, and height. We find statistically significant effects for education and obesity that do not appear to be the result of pre-existing trends. Our findings add to the growing body of economic studies that examine the long-run impacts of in utero and childhood environmental conditions.
Book Review, Political Science. Volume 1, The Indian State. Icssr Research Surveys And Explorations, Aseema Sinha
Book Review, Political Science. Volume 1, The Indian State. Icssr Research Surveys And Explorations, Aseema Sinha
CMC Faculty Publications and Research
This book maps the scholarly terrain on the Indian state. The book holds great promise, as the last survey was done in 1995. The volume seeks to understand the state through an analysis of the “social character” of the Indian state, the political economy of the Indian state, social policy, and law and rights. It is a well-edited collection from scholars based in India.
Standardization And The Impacts Of Voluntary Program Participation: Evidence From Environmental Auditing, Mary F. Evans, Lirong Liu, Sarah L. Stafford
Standardization And The Impacts Of Voluntary Program Participation: Evidence From Environmental Auditing, Mary F. Evans, Lirong Liu, Sarah L. Stafford
CMC Faculty Publications and Research
We explore how limits to our insight about the underlying decision-making structure of firms may affect the conclusions we draw about the likely impacts of participation in voluntary environmental programs. We develop a theoretical model to examine the conditions under which a multi-facility firm chooses to employ a standardized adoption policy for a voluntary program. We test this model empirically using a firm-level dataset on the adoption of a voluntary environmental auditing program and find that, consistent with the theoretical model, a standardized auditing outcome is less likely among firms with more heterogeneous portfolios of facilities. We also examine the …
The Vicious Cycle: Fundraising And Perceived Viability In U.S. Presidential Primaries, Cameron A. Shelton, James J. Feigenbaum
The Vicious Cycle: Fundraising And Perceived Viability In U.S. Presidential Primaries, Cameron A. Shelton, James J. Feigenbaum
CMC Faculty Publications and Research
Scholars of presidential primaries have long posited a dynamic positive feedback loop between fundraising and electoral success. Yet existing work on both directions of this feedback remains inconclusive and is often explicitly cross-sectional, ignoring the dynamic aspect of the hypothesis. Pairing high-frequency FEC data on contributions and expenditures with Iowa Electronic Markets data on perceived probability of victory, we examine the bidirectional feedback between contributions and viability. We find robust, significant positive feedback in both directions. This might suggest multiple equilibria: a candidate initially anointed as the front-runner able to sustain such status solely by the fundraising advantage conferred despite …
Linkage Politics And The Persistence Of National Policy Autonomy In Emerging Powers: Patents, Profits, And Patients In The Context Of Trips Compliance, Aseema Sinha, Tricia Olsen
Linkage Politics And The Persistence Of National Policy Autonomy In Emerging Powers: Patents, Profits, And Patients In The Context Of Trips Compliance, Aseema Sinha, Tricia Olsen
CMC Faculty Publications and Research
The Trade Related Intellectual Property Agreement (TRIPS) has had a profound effect on industrialization and innovation, as well as access to medicines in cases of public health crisis such as HIV/AIDS. However, compliance with TRIPS has varied in developing countries, despite heightened international pressure. For instance, Brazil has pursued a coherent approach to its HIV/AIDS health crisis, while India has failed to take care of its HIV patients despite late compliance with the TRIPS agreement and the presence of business firms that produce the generic medicines for HIV/AIDS. This article suggests that divergence in TRIPS compliance is the result of …
Policy Challenges In A Dual Exchange Rate Regime, Sven W. Arndt
Policy Challenges In A Dual Exchange Rate Regime, Sven W. Arndt
CMC Faculty Publications and Research
It is known that the effectiveness of macro policies depends on the exchange-rate regime. Pertinent models have typically considered either fixed or floating rates rather than mixed regimes. In recent years, however, the dollar has floated against most currencies, while being fixed against the yuan. This paper argues that a flex-price, dual-rate model consisting of the U.S., China and the Eurozone, combined with distinct adjustment patterns in tradables and non-tradables sectors and a tendency for policy makers to treat inflation in housing as pure asset inflation, provides a plausible explanation of the great moderation and its aftermath.
A Story Of Four Revolutions: Mechanisms Of Change In India, Aseema Sinha
A Story Of Four Revolutions: Mechanisms Of Change In India, Aseema Sinha
CMC Faculty Publications and Research
Sumit Ganguly and Rahul Mukherji’s India Since 1980 presents a bold and ambitious argument about change across and within India. Its unique contribution lies in its description of four distinct revolutions: social-political, economic, foreign policy, and religious. While many recent books have noted changes in India’s economy and foreign policy, India Since 1980 will be known for its juxtaposition of four different themes in one short, pithy volume. Even if one may disagree with the authors’ choice of the four dimensions of change, the book’s dominant message is that India is changing across a whole range of policies and arenas.
Scaling Down And Up: Can Subnational Analysis Contribute To A Better Understanding Of Micro-Level And National Level Phenomena?, Aseema Sinha
CMC Faculty Publications and Research
While cross-national analysis dominates comparative politics, many scholars have moved to the subnational level to test hypotheses generated at the national level. Subnational studies allow researchers to control for variation in a way that even the most sophisticated cross-national statistical studies are unable to.
Book Review: Modeling The Composition Of Government Expenditure, Cameron A. Shelton
Book Review: Modeling The Composition Of Government Expenditure, Cameron A. Shelton
CMC Faculty Publications and Research
Throughout the developed world, public finances dominate headlines. Given the widespread unsustainability of budget plans and the bitter attrition of retrenchment, they are like to do so for the next decade or more. As they have long done, different polities are likely to make different choices for how to spend dwindling public moneys. Understanding the sources of past heterogeneity—why countries have differed in their public spending—is thus of interest as we enter an age of fiscal adjustment. Messieurs Creedy and Moslehi offer us a technical primer laying the groundwork for modeling efforts.
Stabilization Policy In An Economy With Two Exchange Rate Regimes, Sven W. Arndt
Stabilization Policy In An Economy With Two Exchange Rate Regimes, Sven W. Arndt
CMC Faculty Publications and Research
This paper uses a flex-price open economy macro model to examine the effectiveness of U.S. monetary and fiscal policies when the dollar floats freely against the euro, but is fixed against the Chinese yuan. It is assumed that capital mobility is high between the U.S. and the Eurozone, but low between the U.S. and China. The model allows for short-run price flexibility and imperfect substitutability between domestic and foreign financial assets. The focus is on the implications for the efficacy of U.S. macro stabilization policies of China’s fixed-rate strategy. While many countries have pegged their currencies to the dollar, China …
Caught In A Poverty Trap? Testing For Single Vs. Multiple Equilibrium Models Of Growth, Cameron Shelton, Francisco R. Rodriguez
Caught In A Poverty Trap? Testing For Single Vs. Multiple Equilibrium Models Of Growth, Cameron Shelton, Francisco R. Rodriguez
CMC Faculty Publications and Research
We look for permanent effects to per capita GDP from exogenous, temporary shocks. Our shocks are temporary changes to the export revenues of small, open economies. We find no evidence that even the largest of these temporary shocks, in excess of 9.7% of GDP, produce permanent effects to the growth path of per capita GDP. The inability to reject a single-equilibrium world with shocks of this magnitude suggests that multiple-equilibria, if they exist, are too widely separated to be policy-relevant. Current aid initiatives, which are of a similar magnitude, are not likely to deliver transition to a higher growth path.
The "Great Moderation" In A Dual Exchange Rate Regime, Sven W. Arndt
The "Great Moderation" In A Dual Exchange Rate Regime, Sven W. Arndt
CMC Faculty Publications and Research
In the early nineties, the U.S. economy was emerging from a brief slump, monetary policy was easy, and economic activity recovered quickly during the decade, with GDP eventually reaching and then passing the consensus full employment level. Yet aggregate inflation remained surprisingly subdued. This moderation in prices at the aggregate level persuaded policy makers to allow the easy-money stance to continue in spite of the presence of inflation in non-tradables and in housing and construction in particular. This paper uses a flex-price, mixed-exchange rate model to examine some of the major contributing factors to economic developments in the two-decade period …
The Early Decision Option In College Admission And Its Impact On Student Diversity, Heather Antecol, Janet Kiholm Smith
The Early Decision Option In College Admission And Its Impact On Student Diversity, Heather Antecol, Janet Kiholm Smith
CMC Faculty Publications and Research
Colleges and universities that adopt early decision (ED) as an admission practice can generate additional resources by attracting wealthier students who make binding commitments to attend and forgo shopping for competing aid offers. An unanswered question is whether the resources generated from price discrimination are used by schools during the regular admission process to attract more diverse students. Using a sample of private national universities and liberal arts colleges, we model the choice to adopt an ED program and its impact on students’ racial and geographic diversity. We find that schools facing more competition for students are more likely to …
Adjustment In An Open Economy With Two Exchange-Rate Regimes, Sven W. Arndt
Adjustment In An Open Economy With Two Exchange-Rate Regimes, Sven W. Arndt
CMC Faculty Publications and Research
This paper examines adjustment in a model with three economies, two exchange-rate regimes, and varying capital mobility. In the benchmark scenario, the U.S. dollar fluctuates against the euro and the Chinese yuan, but capital mobility is high in the former and low in the latter case. This generates offsetting exchange-rate adjustments, which affect the efficacy of U.S. fiscal policy. In the next two scenarios, the yuan is fixed against the dollar. Rate pegging by a large country like China "interferes" with U.S. macro adjustment and undermines U.S. policy autonomy.
Do Environmental Audits Improve Long-Term Compliance: Evidence From Manufacturing Facilities In Michigan, Mary F. Evans, Lirong Liu, Sarah L. Stafford
Do Environmental Audits Improve Long-Term Compliance: Evidence From Manufacturing Facilities In Michigan, Mary F. Evans, Lirong Liu, Sarah L. Stafford
CMC Faculty Publications and Research
Using a unique facility-level dataset from Michigan, we examine the effect of environmental auditing on manufacturing facilities’ long-term compliance with U.S. hazardous waste regulations. We also investigate the factors that affect facilities’ decisions to conduct environmental audits and whether auditing in turn affects the probability of regulatory inspections. We account for the potential endogeneity of our audit measure and the censoring of our compliance measure using a censored trivariate probit, which we estimate using simulated maximum likelihood. We find that larger facilities and those subject to more stringent regulations are more likely to audit; facilities with poor compliance records are …
Intra-Industry Trade And The Open Economy, Sven W. Arndt
Intra-Industry Trade And The Open Economy, Sven W. Arndt
CMC Faculty Publications and Research
This paper explores the implications of cross-border production networks and vertical intra-industry trade for macroeconomic adjustment and for the effectiveness of monetary and fiscal stabilization policies. Vertical intra-industry trade introduces direct links between countries’ imports and exports and thereby affects the manner in which trade balances respond to variations in exchange rates and to global shocks more generally. The precise effects depend on whether the direct link runs from exports to imports or vice versa. In the U.S., for example, exports of auto parts and components rise with an increase of imports of passenger vehicles from Mexico. This produces a …
India: Rising Power Or A Mere Revolution Of Rising Expectations?, Aseema Sinha, Jon P. Dorschner
India: Rising Power Or A Mere Revolution Of Rising Expectations?, Aseema Sinha, Jon P. Dorschner
CMC Faculty Publications and Research
In 2009–2010 India faces dramatically different foreign policy challenges than it faced even ten years ago. Similar to other ascendant powers such as China and Brazil but unlike smaller powers, India must not only cope with a transformed international system and project the country's global aspirations, but also ensure that its emergence as a rising power responds to its domestic dilemmas and constraints. India's actions and aspirations on the global stage have changed dramatically toward greater activism and leveraging of its newfound economic strengths. Yet, despite powerful pressures and opportunities nudging India toward a greater role in the global system, …
Measuring How Risk Tradeoffs Adjust With Income, Mary F. Evans, V. Kerry Smith
Measuring How Risk Tradeoffs Adjust With Income, Mary F. Evans, V. Kerry Smith
CMC Faculty Publications and Research
Efforts to reconcile inconsistencies between theory and estimates of the income elasticity of the value of a statistical life (IEVSL) overlook important restrictions implied by a more complete description of the individual choice problem. We develop a more general model of the IEVSL that reconciles some of the observed discrepancies. Our framework describes how exogenous income shocks, such as unexpected medical expenditures, may affect labor supply decisions which in turn influence both the coefficient of relative risk aversion and the IEVSL. The presence of a consumption commitment, such as a home mortgage, also alters this labor supply adjustment. We use …
Can Weak Substitution Be Rehabilitated?, V. Kerry Smith, Mary F. Evans, H. Spencer Banzhaf, Christine Poulos
Can Weak Substitution Be Rehabilitated?, V. Kerry Smith, Mary F. Evans, H. Spencer Banzhaf, Christine Poulos
CMC Faculty Publications and Research
This paper develops a graphical analysis and an analytical model that demonstrate how weak substitution can be used for non-market valuation. Weak complementarity and weak substitution represent preference restrictions that allow us to develop equivalent price changes to describe quantity or quality changes in non-market goods. The price changes are Hicksian equivalents in that they yield the same utility changes as would the quantity or quality changes. After discussion of several potential applications of weak substitution, the paper develops the parallel between the restriction and recent strategies from modeling differentiated goods.
A Quantile Estimation Approach To Identify Income And Age Variation In The Value Of Statistical Life, Mary F. Evans, Georg Schaur
A Quantile Estimation Approach To Identify Income And Age Variation In The Value Of Statistical Life, Mary F. Evans, Georg Schaur
CMC Faculty Publications and Research
In theory, heterogeneity in individual characteristics translates into variation in the marginal willingness to pay for a mortality risk reduction. Two dimensions of heterogeneity, with respect to income and age, have recently received attention due to their policy relevance. We propose a quantile regression approach to simultaneously explore these two sources of heterogeneity and their interactions within the context of the hedonic wage model, the most common revealed preference approach for obtaining value of statistical life estimates. We illustrate the approach using data from the Health and Retirement Study (HRS). We find that the impact of age on the wage–risk …
Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess
Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess
CMC Faculty Publications and Research
We perform an empirical investigation to estimate the macroeconomic cost of September 11 attacks on the United States economy. We estimate the impact of the attacks to be approximately a 0.50 percentage point decrease in GDP growth or $60 billion. Our upper bound estimate of the impact of September 11 is approximately twice that or $125 billion.
Bridging The Gap Between The Field And The Lab: Environmental Goods, Policy Maker Input, And Consequentiality, Christian A. Vossler, Mary F. Evans
Bridging The Gap Between The Field And The Lab: Environmental Goods, Policy Maker Input, And Consequentiality, Christian A. Vossler, Mary F. Evans
CMC Faculty Publications and Research
This paper explores the criterion validity of stated preference methods through experimental referenda that capture key characteristics of a stated preference survey for a proposed environmental program. In particular, we investigate whether advisory referenda, where participant votes have either known or unknown weight in the policy decision, can elicit values comparable to that of a standard, incentive-compatible referendum. When participants regard their votes as consequential, our results suggest there is no elicitation bias with advisory referenda. For advisory referenda where participants view their votes as inconsequential, and for purely hypothetical referenda, we observe elicitation bias.
Regulation With Direct Benefits Of Information Disclosure And Imperfect Monitoring, Mary F. Evans, Scott M. Gilpatric, Lirong Liu
Regulation With Direct Benefits Of Information Disclosure And Imperfect Monitoring, Mary F. Evans, Scott M. Gilpatric, Lirong Liu
CMC Faculty Publications and Research
We model the optimal design of programs requiring heterogeneous firms to disclose harmful emissions when disclosure yields both direct and indirect benefits. The indirect benefit arises from the internalization of social costs and resulting reduction in emissions. The direct benefit results from the disclosure of previously private information which is valuable to potentially harmed parties. Previous theoretical and empirical analyses of such programs restrict attention to the former benefit while the stated motivation for such programs highlights the latter benefit. When disclosure yields both direct and indirect benefits, policymakers face a tradeoff between inducing truthful self-reporting and deterring emissions. Internalizing …
Hybrid Allocation Mechanisms For Publicly Provided Goods, Mary F. Evans, Christian A. Vossler, Nicholas E. Flores
Hybrid Allocation Mechanisms For Publicly Provided Goods, Mary F. Evans, Christian A. Vossler, Nicholas E. Flores
CMC Faculty Publications and Research
Motivated by efficiency and equity concerns, public resource managers have increasingly utilized hybrid allocation mechanisms that combine features of commonly used price (e.g., auction) and non-price (e.g., lottery) mechanisms. This study serves as an initial investigation of these hybrid mechanisms, exploring theoretically and experimentally how the opportunity to obtain a homogeneous good in a subsequent lottery affects Nash equilibrium bids in discriminative and uniform price auctions. The lottery imposes an opportunity cost to winning the auction, systematically reducing equilibrium auction bids. In contrast to the uniform price auction, equilibrium bids in the uniform price hybrid mechanism vary with bidder risk …
Sexual Orientation Wage Gap: The Role Of Occupational Sorting And Human Capital, Heather Antecol, Anneke Jong, Michael Steinberger
Sexual Orientation Wage Gap: The Role Of Occupational Sorting And Human Capital, Heather Antecol, Anneke Jong, Michael Steinberger
CMC Faculty Publications and Research
Using data from the 2000 U.S. Census, the authors explore two alternative explanations for the sexual orientation wage gap: occupational sorting, and human capital differences. They find that lesbian women earned more than heterosexual women irrespective of marital status, while gay men earned less than their married heterosexual counterparts but more than their cohabitating heterosexual counterparts. Results of a Oaxaca-Blinder decomposition indicate that the relative wage advantages observed for some groups of lesbians and gay men were mainly owing to greater levels of human capital accumulation (particularly education), while occupational sorting had little or no influence. The relative wage penalties …
The Persistent Problem: Inequality, Difference, And The Challenge Of Development, Aseema Sinha, John Echeverri-Gent, Leslie Elliott Armijo, Marc Blecher, Daniel Brumberg, Valerie Bunce, Kiren A. Chaudhry, John W. Harbeson, Evelyne Huber, Bronwyn Leebaw, Susanne Hoeber Rudolph, Loren Ryter, Susan L. Woodward
The Persistent Problem: Inequality, Difference, And The Challenge Of Development, Aseema Sinha, John Echeverri-Gent, Leslie Elliott Armijo, Marc Blecher, Daniel Brumberg, Valerie Bunce, Kiren A. Chaudhry, John W. Harbeson, Evelyne Huber, Bronwyn Leebaw, Susanne Hoeber Rudolph, Loren Ryter, Susan L. Woodward
CMC Faculty Publications and Research
This report highlights the complex, multidimensional nature of inequality in the era of globalization. It documents that despite the impressive strides by nations like China and India, absolute inequality between the richest and poorest countries is greater than ever before in history. It demonstrates that the rise of China and India creates a new dimension to the persistent problem of inequality.
Complementarity And The Measurement Of Individual Risk Tradeoffs: Accounting For Quantity And Quality Of Life Effects, Mary F. Evans, V. Kerry Smith
Complementarity And The Measurement Of Individual Risk Tradeoffs: Accounting For Quantity And Quality Of Life Effects, Mary F. Evans, V. Kerry Smith
CMC Faculty Publications and Research
This paper considers the factors responsible for differences with age in estimates of the wage compensation an individual requires to accept increased occupational fatality risk. We derive a relationship between the value of a statistical life (VSL) and the degree of complementarity between consumption and labor supplied when health status serves as a potential source of variation in this relationship. Our empirical analysis finds that variations in an individual’s health status or quality of life and anticipated longevity threats lead to significant differences in the estimated wage/risk tradeoffs. We describe how extensions to the specification of hedonic wage models, including …
Comments On Lederman And Maloney’S ‘In Search Of The Missing Resource Curse’, Cameron Shelton
Comments On Lederman And Maloney’S ‘In Search Of The Missing Resource Curse’, Cameron Shelton
CMC Faculty Publications and Research
The paper by Daniel Lederman and William Maloney is part of a larger project of the authors.1 Their broader goal is to drive home the point that the possession of natural resource wealth does not inevitably lead to lower growth rates and thus lower per capita GDP. In their words, “the central tendency is not negative” and natural resources are neither curse nor destiny.
Book Chapter: The Lexus And The Olive Branch: Globalization, Democratization And Terrorism, Gregory Hess, S. Brock Blomberg
Book Chapter: The Lexus And The Olive Branch: Globalization, Democratization And Terrorism, Gregory Hess, S. Brock Blomberg
CMC Faculty Publications and Research
This chapter provides an original study into how democratization and globalization influence terrorism, examining the motives of terrorists and how democratic institutions and international integration influence nonstate economic actors.