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Articles 1 - 30 of 31
Full-Text Articles in Social and Behavioral Sciences
The Economics Of Entrepreneurship, Leticia Camacho
The Economics Of Entrepreneurship, Leticia Camacho
Faculty Publications
Parker (Univ. of Western Ontario, Canada) analyzes the connection between economics and entrepreneurship. Specifically, he shows how academic studies such as economics, policy, and social issues relate to entrepreneurship. The book is organized in four parts: selection (theories, empirical methods, determinants, and evidence), finance (debt, venture capital, angel finance, crowd-funding, wealth, etc.), performance (growth, job creation, innovation, survival, etc.), and public policy (policies, regulation, taxation, etc.). At the end of each, a concluding section provides a summary, a list of opportunities for future research, an extensive reference section, and an index.
The Economy Of You: Discover Your Inner Entrepreneur And Recession-Proof Your Life, Leticia Camacho
The Economy Of You: Discover Your Inner Entrepreneur And Recession-Proof Your Life, Leticia Camacho
Faculty Publications
Palmer, a senior editor and personal finance columnist for U.S. News & World Report, claims that, due to our uncertain economy, people need to find ways of earning income beyond their full-time jobs. The author believes that one of the biggest trends in business today is the microbusiness, and he posits that even small amounts of monthly earnings can make a huge impact on people's incomes over time.
Measuring Worth: Relative Worth Calculators And Data Sets, Leticia Camacho
Measuring Worth: Relative Worth Calculators And Data Sets, Leticia Camacho
Faculty Publications
Measuring Worth was founded in 2006 by Lawrence Officer and Samuel Williamson (both, Univ. of Illinois at Chicago). They are also the founders of the Economic History Association's EH.net (CH, May'04, 41-5036). Measuring Worth explores alternative ways to compare and measure the relative worth of things. The site includes historical data on economic aggregates from the US, UK, and Australia, and to a lesser extent, Japan and China.
North Versus South: The Effects Of Foreign Direct Investment And Historical Legacies On Poverty Reduction In Post-Đổi Mới Vietnam, Scott R. Sanders
North Versus South: The Effects Of Foreign Direct Investment And Historical Legacies On Poverty Reduction In Post-Đổi Mới Vietnam, Scott R. Sanders
Faculty Publications
This research examines the factors that account for variance in provincial poverty reduction rates between 2002 and 2008 in Vietnam. In particular, this paper uses spatial regression modeling to show that foreign direct investment (FDI) and the capitalist legacies of southern Vietnam significantly affected provincial poverty reduction during this time period. These findings suggest that although Vietnam as a whole has benefited from post-Đổi Mới economic reform and FDI, the historical capitalist legacies of the former Republic of Vietnam played a strong role in aiding provinces in the south in attracting FDI and subsequently reducing provincial poverty.
Consumer Financial Protection Bureau, Leticia Camacho
Consumer Financial Protection Bureau, Leticia Camacho
Faculty Publications
The Consumer Financial Protection Bureau (CFPB) was launched in 2011 by Congress through the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB site, available in English and Spanish, is updated daily and provides information about a wide range of financial products and services, including paying for college, foreclosure prevention, loan discrimination, credit reporting and scores, credit card agreements, and mortgage disclosures.
Rethinking Microfinance, Lan Cao
Tolerance, Democracy And Fundamentalism(S) : Challenges In Time Of Systemic Bifurcations, Guillermo C. Hansen
Tolerance, Democracy And Fundamentalism(S) : Challenges In Time Of Systemic Bifurcations, Guillermo C. Hansen
Faculty Publications
No abstract provided.
User Fees In Local Finance: Performance And Potential In Czech And Slovak Republics, Phillip J. Bryson
User Fees In Local Finance: Performance And Potential In Czech And Slovak Republics, Phillip J. Bryson
Faculty Publications
The Czech Republic and Slovakia, like other transition countries in Central and Eastern Europe, have given significant lip service to fiscal decentralization and engaged in public administration reforms. But the subnational governments of their public finance systems still lack relative autonomy, which could be addressed partly through developing independent revenue sources for their municipalities and regions. Currently, such independent revenue sources include the proceeds of a strictly nominal property tax as well as those of a small set of local user fees and taxes designed and approved by the central governments. Together they represent only about 5 percent of total …
Will Marriage Promotion Work?, Vivian E. Hamilton
Will Marriage Promotion Work?, Vivian E. Hamilton
Faculty Publications
No abstract provided.
Tolerance And Democracy Instead Of Fundamentalism And Empire, Guillermo C. Hansen
Tolerance And Democracy Instead Of Fundamentalism And Empire, Guillermo C. Hansen
Faculty Publications
No abstract provided.
Nations Of The World [Book Review], Leticia Camacho
Nations Of The World [Book Review], Leticia Camacho
Faculty Publications
Global learning is becoming an important topic in undergraduate courses. It is important for students to learn about other countries to prepare them for both globalization and life and work in a multicultural society. Libraries are experiencing demand for resources that contain international research and global issues information. This new edition of Nations of the World will provide undergraduate students with general political, economic, and business information.
Review Of Northern Naval Superiority And The Economics Of The American Civil War By David G. Surdam, Jeffrey Rogers Hummel
Review Of Northern Naval Superiority And The Economics Of The American Civil War By David G. Surdam, Jeffrey Rogers Hummel
Faculty Publications
No abstract provided.
A Tractable Approach To The Firm Location Decision Problem, Octávio Figueiredo, Paulo Guimaraes, Douglas P. Woodward
A Tractable Approach To The Firm Location Decision Problem, Octávio Figueiredo, Paulo Guimaraes, Douglas P. Woodward
Faculty Publications
The conditional logit model based on random utility maximization has provided an adequate framework to model firm location decisions. However, in practice, the implementation of this methodology presents problems when one has to handle complex choice scenarios with a large number of spatial alternatives. We posit the Poisson regression as a tractable solution to these problems. We demonstrate that by taking advantage of an equivalence relation between the likelihood function of the conditional logit and the Poisson regression we can, under certain circumstances, easily estimate a conditional logit model regardless of the number of choices. This insight should be particularly …
Economic Theory, Trader Freedom And Consumer Welfare: State Oil Co. V. Khan And The Continuing Incoherence Of Antitrust Doctrine, Alan J. Meese
Economic Theory, Trader Freedom And Consumer Welfare: State Oil Co. V. Khan And The Continuing Incoherence Of Antitrust Doctrine, Alan J. Meese
Faculty Publications
No abstract provided.
When Y2k Causes "Economic Loss" To "Other Property", Peter A. Alces, Aaron S. Book
When Y2k Causes "Economic Loss" To "Other Property", Peter A. Alces, Aaron S. Book
Faculty Publications
No abstract provided.
Self-Enforcing Union Contracts: Efficient Investment And Employment, John T. Addison, John B. Chilton
Self-Enforcing Union Contracts: Efficient Investment And Employment, John T. Addison, John B. Chilton
Faculty Publications
Baldwin (1983) asks whether a firm can credibly deter union opportunism that would lead to underinvestment. We show that the punishments Baldwin considers credible exclude tougher threats that only have the appearance of being self-destructive. If the firm's discount factor is sufficiently close to one, union opportunism can indeed be deterred. Moreover, we show that given the firm's discount factor, a shorter lifetime of capital does not necessarily promote efficiency. Although, as Baldwin emphasizes, it does enhance the firm's ability to punish union opportunism, it also creates adverse incentives for the firm to engage in opportunistic employment cuts.
Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell
Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell
Faculty Publications
No abstract provided.
Monetary Policy Preferences Of Individual Fomc Members: A Content Analysis Of The Memoranda Of Discussion, Henry W. Chappell Jr., Thomas M. Havrilesky, Rob Roy Mcgregor
Monetary Policy Preferences Of Individual Fomc Members: A Content Analysis Of The Memoranda Of Discussion, Henry W. Chappell Jr., Thomas M. Havrilesky, Rob Roy Mcgregor
Faculty Publications
The Memoranda of Discussion provide detailed records of Federal Open Market Committee (FOMC) meeting deliberations. Procedures are developed for coding the textual data in the Memoranda and assessing the reliability of those codings. The codings are then used in the estimation of parameters of individual FOMC members' reaction functions. Data from the 1970 to 1976 period are employed in the estimation. In the future, similar methods could be used to analyze newly released transcripts of FOMC meetings held after 1976.
Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese
Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese
Faculty Publications
The Chicago School of antitrust analysis has exerted a strong influence over the law of vertical restraints in the past two decades, leading the Supreme Court to abandon much of its traditional hostility toward such agreements. Chicago's success has provoked a vigorous response from Populists, who support the traditional approach. Chicago, Populists claim, has improperly relied upon neoclassical price theory to inform the normative and descriptive assumptions that drive its analysis of trade restraints generally and of vertical restraints in particular. This reliance is misplaced, Populists assert, because the real world departs from that portrayed by price-theoretic models and, at …
Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part One), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell
Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part One), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell
Faculty Publications
No abstract provided.
Nondisclosure As A Contract Remedy: Explaining The Advance-Notice Puzzle, John T. Addison, John B. Chilton
Nondisclosure As A Contract Remedy: Explaining The Advance-Notice Puzzle, John T. Addison, John B. Chilton
Faculty Publications
Prior theoretical work predicts an underprovision of advance-notice contracts stemming from their enforcement costs. In the present model, it is rather the fundamental inability of workers to alienate their right to quit taken in conjunction with parameters central to job separation decisions that jointly determine the mix of notice and no-notice contracts observed in equilibrium. Not all equilibrium contracts are efficient, but there is no underprovision of notice. Mandating notice cannot improve on joint value and indeed may reduce it. Furthermore, although a mandate can be merely redistributive, there are cases in which it harms all parties.
Avoiding Takings “Accidents”: A Torts Perspective On Takings Law, Eric Kades
Avoiding Takings “Accidents”: A Torts Perspective On Takings Law, Eric Kades
Faculty Publications
Viewing the Takings Clause of the Fifth Amendment as a form of insurance appeals to our intuition. The government, like fire, does not often "take" property, but when faced with extraordinary risk property owners naturally desire compensation. Recent scholarship, however, has dissolved the attractiveness of this perspective. This literature, through economic analysis, claims that the Takings Clause should be repealed and replaced with private takings insurance. This is the "no-compensation" result. This article argues that the insurance-based understanding of the just compensation requirement can be preserved without reaching the surprising no-compensation result. The intuitive appeal of understanding the Takings Clause …
Economic Performance, Voting, And Political Support: A Unified Approach, Henry W. Chappell Jr.
Economic Performance, Voting, And Political Support: A Unified Approach, Henry W. Chappell Jr.
Faculty Publications
A presidential vote function and a presidential approval ratings function are jointly estimated for U.S. post-war observations. The estimation technique treats the two equations as seemingly unrelated regressions with unequal numbers of observations. Cross-equation restrictions implying that voters and poll respondents use identical standards in judging the economic performance of incumbents are imposed and tested. Estimates show that both votes and approval ratings are influenced by GNP growth and inflation. The results suggest that poll respondents are more inflation averse than voters; however, tests of this hypothesis are not conclusive.
Job Displacement, Relative Wage Changes, And Duration Of Unemployment, John T. Addison, Pedro Portugal
Job Displacement, Relative Wage Changes, And Duration Of Unemployment, John T. Addison, Pedro Portugal
Faculty Publications
Using special CPS data on displaced workers, this article investigates the wage consequences of job displacement in a framework that emphasizes the effects of past job duration(s) and unemployment duration(s) on postdisplacement wages. Our model also attempts to take account of the simultaneity between unemployment duration and the postdisplacement wage. It is found that duration strongly reduces subsequent earnings and that considerable overstatement of the loss in firm-specific training investments is implied by conventional routes to measuring wage losses.
Union Effects On Productivity, Profits, And Growth - Has The Long Run Arrived?, John T. Addison, Barry T. Hirsch
Union Effects On Productivity, Profits, And Growth - Has The Long Run Arrived?, John T. Addison, Barry T. Hirsch
Faculty Publications
This article interprets literature examining union effects on economic performance. Production function studies indicate small overall union impacts on productivity; positive effects, where they exist, appear to result from management response to decreased profit expectations and from a natural selection process. Lower profitability among unionized firms is well established; more interesting is the possibility that unions appropriate quasi rents deriving from long-lived tangible and intangible capital. the connection between unions, investment behavior, and productivity growth emerges as a particularly fruitful line of empirical inquiry, although it does not encourage a sanguine view of unionism's long-run impact.
Economics Of Agricultural Development In Tropical Africa By Seth La-Anyane, Mark W. Delancey
Economics Of Agricultural Development In Tropical Africa By Seth La-Anyane, Mark W. Delancey
Faculty Publications
No abstract provided.
Political Vs. Economic Incentives, B. Delworth Gardner
Political Vs. Economic Incentives, B. Delworth Gardner
Faculty Publications
H this paper is the best challenge that can be brought against the New Resource Economics (NRE) and its advocacy for privatization of the public lands, we are likely to see both around for a long time. If there is fallacy in the idea of privatization, it is not illuminated in the arguments of this article. The paper misrepresents what the NRE is, shows little comprehension of the basic concepts on which it rests, and completely reverses the basic nature of the privatization solution. I hope to demonstrate as much in this critique.
Presidential Popularity And Macroeconomic Performance: Are Voters Really So Naive?, Henry W. Chappell Jr.
Presidential Popularity And Macroeconomic Performance: Are Voters Really So Naive?, Henry W. Chappell Jr.
Faculty Publications
The article focuses on the relationships between the macroeconomic performance of political administration and their popularity or vote getting ability. All of the studies that has been performed to analyze the relationships agree that votes and popularity can be explained well by models which suppose that voters judge policy makers on the basis of retrospective evaluation of past macroeconomic outcomes. While conventional popularity functions assume that voters simply punish inflation and reward output or low unemployment, voters who understand the long and short run relationships noted above would evaluate policymakers differently. Inflation in a given period is largely determined by …
Campaign Contributions And Congressional Voting: A Simultaneous Probit-Tobit Model, Henry W. Chappell Jr.
Campaign Contributions And Congressional Voting: A Simultaneous Probit-Tobit Model, Henry W. Chappell Jr.
Faculty Publications
Full-information maximum likelihood (FIML) estimates of the simultaneous probit-Tobit (SPT) model suggest that effects of campaign contributions on voting are smaller than single equation probit estimates would indicate. The author has generally unable to conclude that contributions have a significant impact on voting decisions, apparently votes are most often decided on the basis of personal ideology or preferences of constituents. These findings differ markedly from earlier results of economists Gary C. Durden and Jonathan J. Silberman, whose single equation models showed a substantial impact of contributions on voting decisions. Despite the lack of significance according to model SPT, it would …
Review Of Economics As A Coordination Problem: The Contributions Of Friedrich A. Hayek By Gerald P. O’Driscoll, Jr., Jeffrey Rogers Hummel
Review Of Economics As A Coordination Problem: The Contributions Of Friedrich A. Hayek By Gerald P. O’Driscoll, Jr., Jeffrey Rogers Hummel
Faculty Publications
No abstract provided.