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Social and Behavioral Sciences Commons™
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Articles 1 - 30 of 41
Full-Text Articles in Social and Behavioral Sciences
Economic Theory Gives Us Two 'Weapons' To Combat Gun Violence, Louis D. Johnston
Economic Theory Gives Us Two 'Weapons' To Combat Gun Violence, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Top Athlete Pay, Kevin F. Hallock
Top Athlete Pay, Kevin F. Hallock
Economics Faculty Publications
The US has a history of discussing the pay of the relatively well-paid. This is partly because pay levels of some are revealed publicly (e.g., CEOs of publicly traded companies). Americans are also characterized as being celebrity-obsessed. So discussing the pay of superstars seems inevitable. However, they do not have quality data on the compensation of the relatively highly paid in many organizations and professions. When the author speaks about compensation in front of large groups, someone (and in many cases, many people) gets incensed over what they term "outrageous" or "egregious" levels of executive compensation. Athletes are rarely mentioned. …
The Economics Of Black Friday And Buy Nothing Day, Louis D. Johnston
The Economics Of Black Friday And Buy Nothing Day, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Why Do We Have A State Budget Mess? Think Ventura Years And Baby Boomers, Louis D. Johnston
Why Do We Have A State Budget Mess? Think Ventura Years And Baby Boomers, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Economic Effects Of The Minimum Wage, Kevin F. Hallock
Economic Effects Of The Minimum Wage, Kevin F. Hallock
Economics Faculty Publications
The US minimum wage, at almost 75 years old, remains the topic of many academic studies and much policy debate despite the fact that only about 5% of hourly employees are currently paid at or below the federal minimum. There are many possible and interesting economic effects of the minimum wage. The issue that has received by far the most attention is whether increasing the minimum wage has a negative effect on employment, and if so, for whom and by how much. Economists first approach this question through the basic theory of a perfectly competitive labor market where all workers …
Why Not Some Fiscal Therapy And Go Over The Cliff?, Louis D. Johnston
Why Not Some Fiscal Therapy And Go Over The Cliff?, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Long Memory Regressors And Predictive Regressions: A Two-Stage Rebalancing Approach, Alex Maynard, Aaron Smallwood, Mark E. Wohar
Long Memory Regressors And Predictive Regressions: A Two-Stage Rebalancing Approach, Alex Maynard, Aaron Smallwood, Mark E. Wohar
Economics Faculty Publications
Predictability tests with long memory regressors may entail both size distortion and incompatibility between the orders of integration of the dependent and independent variables. Addressing both problems simultaneously, this paper proposes a two-step procedure that rebalances the predictive regression by fractionally differencing the predictor based on a first-stage estimation of the memory parameter. Extensive simulations indicate that our procedure has good size, is robust to estimation error in the first stage, and can yield improved power over cases in which an integer order is assumed for the regressor. We also extend our approach beyond the standard predictive regression context to …
Cookin’ Jobs Numbers? Crazy Talk From Jack Welch, Louis D. Johnston
Cookin’ Jobs Numbers? Crazy Talk From Jack Welch, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Coyote Use, Migration Duration And Remittances, David Ortmeyer, Michael A. Quinn
Coyote Use, Migration Duration And Remittances, David Ortmeyer, Michael A. Quinn
Economics Faculty Publications
The migration of Mexican immigrants to the U.S. is one of the largest bilateral migration flows in the world and remittances from these immigrants represent a crucial source of income for Mexican households. As the United States tightens controls on illegal migration, this may impact both migration durations and remittances. Tighter borders increase crossing costs, often because migrants need to pay smugglers (coyotes). Using data from the Mexican Migration Project, we find that higher crossing costs increase the probability of remitting, the remittance rate and the duration of stay as undocumented workers pay off the crossing debt. If immigrants did …
Intergenerational Transfers In Long Term Care, Monika Lopez Anuarbe
Intergenerational Transfers In Long Term Care, Monika Lopez Anuarbe
Economics Faculty Publications
How are parental inter-vivos transfers to their children and children’s informal care of parents influenced by personal characteristics, family conditions and state specific long term care policies? AHEAD data from 1993 and 1995 and a two-party choice model are used to guide the estimation of OLS and binary logit models of the amount and likelihood of inter-vivos transfers to children and informal care of parents. Results suggest that both parents’ characteristics and their offspring’s characteristics affect parental gifts to children and children’s time assistance to their parents, highlighting the interdependent nature of these decisions. Furthermore, though state policies did not …
Driving A Tank Off The Fiscal Cliff: Why Romney Doesn’T Believe In Budget Austerity, Louis D. Johnston
Driving A Tank Off The Fiscal Cliff: Why Romney Doesn’T Believe In Budget Austerity, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
The Problem With Asking: Are You Better Off Than Four Years Ago?, Louis D. Johnston
The Problem With Asking: Are You Better Off Than Four Years Ago?, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Regional Allocation Of Carbon Dioxide Abatement In China, Chu Wei, Jinlan Ni, Limin Du
Regional Allocation Of Carbon Dioxide Abatement In China, Chu Wei, Jinlan Ni, Limin Du
Economics Faculty Publications
https://doi.org/10.1016/j.chieco.2011.06.002
Ceos Off The Clock, Kevin F. Hallock
Ceos Off The Clock, Kevin F. Hallock
Economics Faculty Publications
There is new and interesting academic work on how executives spend their time and the personal choices they make to maximize utility. From a compensation point of view, one issue that has been at the forefront with respect to executives is perks. One CEO compensation perk that has also received increased scrutiny but is surviving better than club memberships is the use of private aircraft. In a related April 2012 paper, "Executives' 'Off-The-Job' Behavior, Corporate Culture and Financial Reporting Risk" (National Bureau of Economic Research working paper), Robert Davidson, Abbie Smith and Aiyesha Dey consider other off-the-clock behaviors of CEOs …
Remembering Minnesota’S Mr. Economics, Walter Heller, Louis D. Johnston
Remembering Minnesota’S Mr. Economics, Walter Heller, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Paul Ryan’S Views Of Government Seem More Influenced By Milton Friedman Than Ayn Rand, Louis D. Johnston
Paul Ryan’S Views Of Government Seem More Influenced By Milton Friedman Than Ayn Rand, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Efficiency Estimates And Rankings Employing Data Envelopment And Stochastic Frontier Analyses: Evaluating The Management Of U.S. Public Colleges, G. Thomas Sav
Economics Faculty Publications
This paper estimates and compares operating efficiencies of publicly owned associate degree granting colleges in the United States using data envelopment analysis (DEA) and stochastic frontier analysis (SFA). Comparisons are based on panel data for 698 colleges over four academic years, 2005-09. Included are both constant and variable returns to scale DEA estimates along with half and truncated normal inefficiency SFA estimates. The values 0.56 vs. 0.45 represent the largest mean DEA-SFA efficiency differential. DEA results indicate that 13% of colleges are fully (100%) efficient while SFA puts that percentage at only 1.7%. Comparisons of rankings based on efficiency performance …
Productivity Growth And Efficiency Changes In Publicly Managed U.S. Comprehensive Universities: Data Envelopment Analysis And Malmquist Decompositions, G. Thomas Sav
Economics Faculty Publications
This paper uses data envelopment analysis and Malmquist index decompositions in estimating productivity and efficiency changes of comprehensive degree granting, publicly owned U.S. universities. Panel data for 247 universities is employed for the academic years 2005-09. Results indicate that universities incurred productivity regress on the order of 4% per annum. The regress was due to declines in technological change that overpowered the efficiency gains achieved by universities. The latter derived from both university management and scale efficiency improvements. The dynamics of annual changes suggest that the financial crisis worsened productivity regress but created positive efficiency changes. It will, however, be …
Spillover Effects Of Crimes In Neighboring States Of Mexico, Mingming Pan, Benjamin Widner, Carl E. Enomoto
Spillover Effects Of Crimes In Neighboring States Of Mexico, Mingming Pan, Benjamin Widner, Carl E. Enomoto
Economics Faculty Publications
The recent surge in crime and drug-related violence in Mexico has had a profound effect on the Mexican economy. Thousands of businesses have closed in Ciudad Juarez, a city that borders the U.S., due to the violence that has erupted between drug cartels. It has been estimated by Rios (2007) that $4.3 billion of losses occur yearly to Mexico, due to illegal drug activity in the country. Using a spatial model, this paper analyzes the determinants of crime in Mexican states. It was found that high levels of total crime and drug-related violence in neighboring states of Mexico have spillover …
Paying Professors, Kevin F. Hallock
Paying Professors, Kevin F. Hallock
Economics Faculty Publications
One of the most interesting quirks of academia is professional tenure. Many argue that tenure is necessary so that faculty can be protected by "academic freedom" to study the issues they find important without outside interference or pressures to conform. It is also, obviously, a nonmonetary reward and this security for life could offset higher salaries. Few accounts of the tenure system, however, recognize that while tenure essentially grants a job for life, it does not come with guaranteed lifetime raises. Some academic organizations, however, give roughly across the board annual raises. They don't seriously reward performance until a faculty …
Does Graduating In A Bad Economy Penalize Your Pay Tor Life?, Kevin F. Hallock
Does Graduating In A Bad Economy Penalize Your Pay Tor Life?, Kevin F. Hallock
Economics Faculty Publications
Rigorous research has shown that the state of the economy when one graduates from college does matter. And, unfortunately, given the current slow-growth labor market, it matters not just for earning in the first job after college but also for compensation years in the future. Recessions are bad on graduates' pocketbooks, at graduation and in years to come. If that's not enough, it looks like recessions could be bad for these graduates' current and future health too. J. Catherine Maclean studies the effects of graduating from college during a bad economy on physical functioning, mental functioning and depressive symptoms on …
Stochastic Cost Inefficiency Estimates And Rankings Of Public And Private Research And Doctoral Granting Universities, G. Thomas Sav
Stochastic Cost Inefficiency Estimates And Rankings Of Public And Private Research And Doctoral Granting Universities, G. Thomas Sav
Economics Faculty Publications
Stochastic frontier cost and inefficiency estimates are provided for research and doctoral granting universities in the U.S. Separate sector estimates are produced for public and private non-profit universities. Panel data spanning four academic years, 2005-2009, is used to estimate underlying cost structures. Inefficiency is modeled as depending on institutionally specific environmental factors. Results indicate that public universities are on average more efficient than their private counterparts. The latter exhibit greater variability and when evaluated at the median inefficiencies there does not appear to be any statistically significant difference. Time varying inefficiency estimates point to public sector efficiency gains but private …
Governance And Executive Compensation In Nonprofits, Kevin F. Hallock
Governance And Executive Compensation In Nonprofits, Kevin F. Hallock
Economics Faculty Publications
Corporate governance has attracted much attention lately, justifiably many would argue. In the past couple decades, important legislative changes and public pressure have driven rapid changes in board governance and reporting, much focused on executive compensation, in particular. Still, there seems to be less focus on these issues in nonprofit organizations. This despite the fact that more than one-quarter of Americans volunteered through or for an organization last year, with the likely majority of these organizations being nonprofits. Adjusting for organization size, however, cash pay is not that different in for-profits and nonprofits. Resources exist for helping nonprofit boards govern …
(Review) A Short History Of Ethics And Economics: The Greeks, Spencer J. Pack
(Review) A Short History Of Ethics And Economics: The Greeks, Spencer J. Pack
Economics Faculty Publications
No abstract provided.
Why Do We Tip?, Kevin F. Hallock
Why Do We Tip?, Kevin F. Hallock
Economics Faculty Publications
Some economists may argue that the billions of dollars a year spent on tipping are difficult to understand. After all, there is no requirement to tip. In a recent article "Why Tip? An Empirical Investigation for Tipping Car Guards" (Journal of Economic Psychology, February 2010), Stephen G. Saunders and Michael Lynn summarize potential reasons for tipping as: to increase the probability of good service upon repeat business, to reward good work, to redistribute income to service workers, to avoid societal disapproval or gain societal approval and to conform to internalized norms. Tipping hair stylists and babysitters clearly fits into the …
Why We Don't Need To Worry About Inflation, Louis D. Johnston
Why We Don't Need To Worry About Inflation, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
For-Profit College Entry And Cost Efficiency: Stochastic Frontier Estimates Vs Two-Year Public And Non-Profit Colleges, G. Thomas Sav
For-Profit College Entry And Cost Efficiency: Stochastic Frontier Estimates Vs Two-Year Public And Non-Profit Colleges, G. Thomas Sav
Economics Faculty Publications
This paper provides stochastic frontier cost and (in)efficiency estimates for private for-profit colleges with comparisons to public and private non-private colleges. The focus is on the two-year U.S. higher education sector where there exists the largest and fastest growing entry of for-profit colleges. Unbalanced panel data is employed for four academic years, 2005-2009. Translog cost frontiers are estimated with an inefficiency component that depends upon environmental factors defined by college specific characteristics. More experienced public and private non-profit colleges are found to be more cost efficient relative to the newer entrants. In addition, the newer for-profits exhibit greater efficiency variability …
Massive Kinked Bonuses, Kevin F. Hallock
Massive Kinked Bonuses, Kevin F. Hallock
Economics Faculty Publications
While most people are paid by the hour or with a yearly salary, some are also paid bonuses. And, some are paid very large, all-or-nothing bonuses. The author's favorite recent example is from last summer when golfer Darren Clarke earned a $3-million bonus from his sponsor. But it was how the payout was structured more than the amount that so intrigued him -- his sponsor's payout was all or nothing. How people are paid is fascinating. It is particularly interesting in this case of very, very large bonuses. The sports odds that Darren Clarke would win the tournament going into …
Examining Income Trends Around Minnesota, Louis D. Johnston
Examining Income Trends Around Minnesota, Louis D. Johnston
Economics Faculty Publications
No abstract provided.
Is The Production Of Religious Knowledge Efficient? Managing Faith Related Postsecondary Institutions, G. Thomas Sav
Is The Production Of Religious Knowledge Efficient? Managing Faith Related Postsecondary Institutions, G. Thomas Sav
Economics Faculty Publications
The focus of this paper is on the efficiency of producing and managing religion based knowledge in postsecondary institutions. Panel data is used to estimate a stochastic cost frontier and associated inefficiencies for a panel of 222 U.S. bible colleges, theological seminaries, and other faith based higher education institutions over the 2005-09 academic years. Results indicate that institutions offering undergraduate only education are on average less inefficient than graduate only or combined undergraduate-graduate education institutions. Government provided student loans and private philanthropy are efficiency improving, while institutional debt acts to increase inefficiency. Time varying inefficiencies show efficiency gains over the …