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2004

Economics

Economics Faculty Research and Publications

Articles 1 - 16 of 16

Full-Text Articles in Social and Behavioral Sciences

Private Savings In Transition Economies: Are There Terms Of Trade Shocks?, Abdur Chowdhury Dec 2004

Private Savings In Transition Economies: Are There Terms Of Trade Shocks?, Abdur Chowdhury

Economics Faculty Research and Publications

Economic agents in the transition economies are subject to tight credit constraints, which are more pronounced during bad state of nature. Thus, adverse shocks to commodity prices in the world market can force them to reduce savings by a larger amount than they would otherwise have. Empirical analysis using a dynamic panel model and data from 21 transition economies confirm that most of the determinants of savings identified in the literature also apply to the transition economies. The transitory component in the terms of trade have a larger positive impact than the permanent component. This reflects the lack of access …

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What Determines Public Education Expenditures In Russia?, Inna Verbina, Abdur Chowdhury Sep 2004

What Determines Public Education Expenditures In Russia?, Inna Verbina, Abdur Chowdhury

Economics Faculty Research and Publications

Recent studies suggest that the allocation of expenditures in education is important for growth. The state of public education spending in many transition economies highlights the need for an assessment of the nature of education expenditures in these countries. This paper attempts to fill this gap in the literature by estimating the determinants of education expenditures in the Russian Federation. Results from panel data analysis show that revenue and the student-population ratio have a positive impact on education expenditures while the effect of population density is negative. Three regional variables also show significant impact. The income and price elasticity of …

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Complex Economic Systems: Using Collective Intentionality Analysis To Explain Individual Ldentity In Networks, John B. Davis Jun 2004

Complex Economic Systems: Using Collective Intentionality Analysis To Explain Individual Ldentity In Networks, John B. Davis

Economics Faculty Research and Publications

Une approche particulière de l'analyse de économies vues comme des systèmes complexes étudie l'interaction entre les individus dans des réseaus locaux ou de voisinage qui sont un sous-ensemble des économies plus larges. En rejetant la vision traditionnelle des fondations microéconomiques de la relation entre le comportement économique individuel et agrégé comme s'influençant réciproquement. Ce papier étudie la conception des réseaux de l'individu interactif utilisée dans l'analyse d'Alan Kirman (2001) dans le cadre de relations de loyauté entre les acheteurs et les vendeurs sur le marché aux poissons de Marseille, en utilisant le cadre du test d'identité que j'ai appliqué précédemment …

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Identity And Commitment: Sen's Conception Of The Individual, John B. Davis May 2004

Identity And Commitment: Sen's Conception Of The Individual, John B. Davis

Economics Faculty Research and Publications

This paper develops a conception of personal identity for Amartya Sen’s capability framework that emphasizes his self-scrutinizing aspect of the self and related concept of commitment, and compares this conception to the collective intentionality-based one advanced in Davis (2003c). The paper also distinguishes personal identity and social identity, and contrasts Sen’s framework with recent standard economics’ explanation of social identity in terms of conformity. Sen’s concept of commitment is examined in two formulations, and the later version is related to Bernard Williams’ thinking about identity-conferring commitments. The paper’s concludes by arguing that explaining personal identity as a special capability and …

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The Fiscal Dimensions Of Conflict And Reconstruction, Abdur Chowdhury May 2004

The Fiscal Dimensions Of Conflict And Reconstruction, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

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Introduction To The Elgar Companion To Economics And Philosophy, John B. Davis, Alain Marciano, Jochen Runde Jan 2004

Introduction To The Elgar Companion To Economics And Philosophy, John B. Davis, Alain Marciano, Jochen Runde

Economics Faculty Research and Publications

No abstract provided.

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Assessing Alternative Methods Of Estimating The Present Value Of Future Earnings: A Fifteen-Year Update, Brian Brush Jan 2004

Assessing Alternative Methods Of Estimating The Present Value Of Future Earnings: A Fifteen-Year Update, Brian Brush

Economics Faculty Research and Publications

No abstract provided.

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External Debt, Growth And The Hipc Initiative: Is The Country Choice Too Narrow?, Abdur Chowdhury Jan 2004

External Debt, Growth And The Hipc Initiative: Is The Country Choice Too Narrow?, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

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An Empirical Study Of The Dynamics Of International Stock Markets Interdependence, Michael Hutchinson, Farrokh Nourzad Jan 2004

An Empirical Study Of The Dynamics Of International Stock Markets Interdependence, Michael Hutchinson, Farrokh Nourzad

Economics Faculty Research and Publications

This paper examines the interaction between international national stock markets using daily data and a VAR model. The results indicate that the speed of adjustment to equilibrium after a shock is about two days, indicating that markets are highly efficient at processing international information. Moreover, the US market appears to be the most important in the system, while Japan is very independent and does not have much effect on the other markets in the sample. Finally, the recent Asian financial crisis appears to have amplified the importance of the Asian markets to the rest of the global exchanges.

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A Global Lottery And A Global Premium Bond, Tony Addison, Abdur Chowdhury Jan 2004

A Global Lottery And A Global Premium Bond, Tony Addison, Abdur Chowdhury

Economics Faculty Research and Publications

Proposals are evaluated, from both an economic and an ethical viewpoint, for development funding through a global lottery, along with a complement to this: a global premium bond (a loan instrument in which the interest takes the form of a lottery prize, the capital being repayable on request, so that it has the characteristics of a savings product, which makes it potentially attractive to ethical investors). The chapter starts by looking at how a global lottery might work, evaluating the issue by discussing lottery operators and their regulation, the market for lotteries, competition between the global lottery and national lotteries, …

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Gasoline Prices, State Gasoline Excise Taxes, And The Size Of Urban Areas, James Mcgibany Jan 2004

Gasoline Prices, State Gasoline Excise Taxes, And The Size Of Urban Areas, James Mcgibany

Economics Faculty Research and Publications

A monocentric model of land use that assumes urban spatial size is determined by a set of exogenous variables is employed to test the hypothesis that urban land size is negatively related to gasoline prices. Using a model from Brueckner and Fansler (1983), the amount of urbanized land area is shown to be a function of population, income, agricultural land prices and commuting costs. The latter is measured as the price of gasoline, broken into two components; the amount of any state gasoline excise tax imposed plus the total price paid by consumers minus such a tax. Using 1990 data, …

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Money Demand Stability Under Currency Substitution: Some Recent Evidence, Santi Chaisrisawatsuk, Subhash C. Sharma, Abdur Chowdhury Jan 2004

Money Demand Stability Under Currency Substitution: Some Recent Evidence, Santi Chaisrisawatsuk, Subhash C. Sharma, Abdur Chowdhury

Economics Faculty Research and Publications

This study deals with the issue of independent monetary policy and the stability of the domestic money demand function in the presence of currency substitution and capital mobility in five Asian economies. It is argued that money demand will be less stable and more difficult to control in the presence of international variables. The money demand function is derived using the portfolio balance approach. The results from the cointegration analysis reveal that capital mobility and currency substitution are significant factors in the domestic money demand equations for Indonesia, Korea, Malaysia, Singapore, and Thailand. The results also show that the US …

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Economics As A Colonial Discourse Of Modernity, John B. Davis Jan 2004

Economics As A Colonial Discourse Of Modernity, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

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The Agency-Structure Model And The Embedded Individual In Heterodox Economics, John B. Davis Jan 2004

The Agency-Structure Model And The Embedded Individual In Heterodox Economics, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

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Review Of Reconstructing Economic Theory: The Problem Of Human Agency By Allen Oakley, John B. Davis Jan 2004

Review Of Reconstructing Economic Theory: The Problem Of Human Agency By Allen Oakley, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

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Collective Intentionality, Complex Economic Behavior, And Valuation (Book Chapter), John Davis Jan 2004

Collective Intentionality, Complex Economic Behavior, And Valuation (Book Chapter), John Davis

Economics Faculty Research and Publications

No abstract provided.

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