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Full-Text Articles in Social and Behavioral Sciences
Banking Sector Reform In Ethiopia, Admassu Bezabeh, Asayehgn Desta
Banking Sector Reform In Ethiopia, Admassu Bezabeh, Asayehgn Desta
Asayehgn Desta
The fragile and inefficient state-dominated banking sector that existed in Ethiopia during the military government (1974-1991) was a major hindrance to economic growth. Since it took power in 1991, the current government has implemented a number of reforms. For instance, in 1994, the government legalized domestic private investment in the banking industry. In addition, it restructured the two development banks as commercial banks, and introduced a new Banking and Monetary Proclamation that gave more autonomy and further clarified the National Bank of Ethiopia’s activities as the regulator and supervisor of the banking sector. Although these measures have led to marginal …
The Relationship Between Health And Schooling: What's New?, Michael Grossman
The Relationship Between Health And Schooling: What's New?, Michael Grossman
Economics Working Papers
Many studies suggest that years of formal schooling completed is the most important correlate of good health. There is much less consensus as to whether this correlation reflects causality from more schooling to better health. The relationship may be traced in part to reverse causality and may also reflect "omitted third variables" that cause health and schooling to vary in the same direction. The past five years (2010-2014) have witnessed the development of a large literature focusing on the issue just raised. I deal with that literature and what can be learned from it in this paper. I conclude that …
Can Simple Mechanism Design Results Be Used To Implement The Proportionality Standard In Discovery?, Jonah B. Gelbach
Can Simple Mechanism Design Results Be Used To Implement The Proportionality Standard In Discovery?, Jonah B. Gelbach
All Faculty Scholarship
I point out that the Coase theorem suggests there should not be wasteful discovery, in the sense that the value to the requester is less than the cost to the responder. I use a toy model to show that a sufficiently informed court could design a mechanism under which the Coasean prediction is borne out. I then suggest that the actual information available to courts is too little to effect this mechanism, and I consider alternatives. In discussing mechanisms intended to avoid wasteful discovery where courts have limited information, I emphasize the role of normative considerations.
Revealing The Political Decision Toward Chinese Carbon Abatement: Based On Equity And Efficiency Criteria, Jinlan Ni, Chu Wei, Limin Du
Revealing The Political Decision Toward Chinese Carbon Abatement: Based On Equity And Efficiency Criteria, Jinlan Ni, Chu Wei, Limin Du
Economics Faculty Publications
China's economic reform over the past 30 years has allowed the free market to drive economic development. However, government still plays a key role in the energy sector by allocating energy conservation and emissions abatement. How does the government make an equity decision as a tradeoff to market efficiency? This is an unanswered question. The purpose of this paper is to illustrate the government's preference toward equity and efficiency. Using the provincial level CO2 intensity allocation data, we investigate the political decision that the government made based on the equity and efficiency criteria. We find that the equity index plays …
Market Efficiency And The Arena Football League: A Note, Ladd Kochman, Randy Goodwin
Market Efficiency And The Arena Football League: A Note, Ladd Kochman, Randy Goodwin
Ladd Kochman
With final scores like 99-68 and 80-74, can the market for wagers on Arena Football League games operate with the same efficiency generally associated with the more established betting markets? The question extends the argument by Pankoff (1968) that football point spreads are analogous to security prices and that profitable betting rules would create doubt about the efficiency of any competitive marketplace. Pankoff reasoned that bettors were no less numerous, knowledgeable or profit-maximizing than investors and that superior returns should be just as elusive to the former as they are to the latter. However, arena football's short point spread history …
Securities Market Efficiency And The Reigning Super Bowl Champions, Ladd Kochman
Securities Market Efficiency And The Reigning Super Bowl Champions, Ladd Kochman
Ladd Kochman
The vulnerability of stock prices has long intrigued investors and researchers. Beating the market has an inescapable appeal. The overwhelming evidence that regular above average returns are denied to all but those with inside information has not slowed efforts to find market errors or tap into profitable trends. One reason for hope is that past studies have never truly resolved how long securities must be held before a particular trading strategy can be measured. Pankoff has proposed that the market for bets on National Football League games can serve as a proxy for the securities market. Examining recent studies using …