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2012

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Economics

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Full-Text Articles in Social and Behavioral Sciences

Hambrunas Socialistas, Guillermo Arosemena Dec 2012

Hambrunas Socialistas, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


National Longitudinal Survey Of Public Health Systems: Comparative Report Of 2012 Results, Glen Mays Dec 2012

National Longitudinal Survey Of Public Health Systems: Comparative Report Of 2012 Results, Glen Mays

Glen Mays

The third wave of the National Longitudinal Survey of Public Health Systems was fielded in 2012 in a nationally-representative cohort of local communities. The survey measures the availability of 20 recommended public health activities in the community, the range of organizations that participate in performing each activity, and the perceived effectiveness of each activity. Prior waves of the survey were fielded in 1998 and 2006. Local health officials report data for this survey and receive a customized report of results that compare data for their community with national norms and with "peer groups" of similar communities. This document provides an …


Edad Y Enseñanza, Guillermo Arosemena Dec 2012

Edad Y Enseñanza, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


El Estadista Civilizado, Guillermo Arosemena Dec 2012

El Estadista Civilizado, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


Optimal Environmental Taxation With Pre-Commitment And Green R&D, Stuart Mcdonald Dec 2012

Optimal Environmental Taxation With Pre-Commitment And Green R&D, Stuart Mcdonald

Stuart McDonald

Two approaches for modelling investment in R\&D have been developed by d'Aspremont and Jacquemin (AJ, 1988) and Kamien, Muller and Zang (KMZ, 1992), when there are spillovers associated with R\&D effort. This paper examines how these two approaches predict investment in green technology, when environmental policy takes the form of an optimal emission tax. The results show that the two models are equivalent when there are no R\&D spillovers; but when R\&D spillovers are present, significant differences in their predictions are observed. Specifically, the KMZ model predicts higher emission tax rates, higher level of R\&D expenditures and higher levels of …


The Smallest Upper Bound For The Pth Absolute Central Moment Of A Class Of Random Variables, Martin Egozcue, Luis Fuentes García, Wing Keung Wong, Ricardas Zitikis Dec 2012

The Smallest Upper Bound For The Pth Absolute Central Moment Of A Class Of Random Variables, Martin Egozcue, Luis Fuentes García, Wing Keung Wong, Ricardas Zitikis

Martin Egozcue

We establish the smallest upper bound for the p absolute central moment over the class of all random variables with values in a compact interval. Numerical values of the bound are calculated for the first ten integer values of p, and its asymptotic behaviour derived when p tends to infinity. In addition, we establish an analogous bound in the case of all symmetric random variables with values in a compact interval. Such results play a role in a number of areas including actuarial science, economics, finance, operations research, and reliability.


Public Health Return On Investment: Making The Case, Glen Mays Dec 2012

Public Health Return On Investment: Making The Case, Glen Mays

Glen Mays

Fiscal pressures and policy imperatives have created a need for rigorous economic analyses of public health programs and policies. ROI analyses can reveal whether the benefits of public health strategies justify their costs, who realizes these benefits and costs, and under what circumstances.


Keynes,Hayak Y Marx, Guillermo Arosemena Dec 2012

Keynes,Hayak Y Marx, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


Comparative Effectiveness Research And Patient-Centered Outcomes Research In Public Health Settings: Design, Analysis And Funding Considerations, Glen Mays Dec 2012

Comparative Effectiveness Research And Patient-Centered Outcomes Research In Public Health Settings: Design, Analysis And Funding Considerations, Glen Mays

Glen Mays

The principles and methods of CER and PCOR have developed primarily with therapeutics in mind, but they must also be applied to the study of public health programs, policies, and delivery systems. This session surveys the emerging field, and provides examples of CER/PCOR methods applied in public health settings using practice-based research networks (PBRNs).


The Bank Of Tanzania (Bot) As The Custodian Of The Tanzanian Economy: Opportunities And Challenges, Conrad John Masabo Mr. Dec 2012

The Bank Of Tanzania (Bot) As The Custodian Of The Tanzanian Economy: Opportunities And Challenges, Conrad John Masabo Mr.

Conrad John Masabo Mr.

When Tanzania embarked on fundamental transformation of its economy almost two decades ago one of the top agenda in the economic reforms was the need to overhaul the financial system. And in view of pivotal role it plays in the country’s economy, the banking sector was the first to undergo reforms. Implementation of the reforms followed recommendations of the Presidential Commission on the need to modernize the banking sector dubbed the Nyirabu Commission. The BOT Act of 1995 was a landmark in Tanzania’s monetary history by adopting a single policy objective, i.e. price stability and moving away from multiple-policy objectives. …


La Economía Mundial En El 2060, Guillermo Arosemena Dec 2012

La Economía Mundial En El 2060, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


How You Estimate The Yield Curve Matters!, Luiz Paulo Fichtner, Pedro Santa-Clara Dec 2012

How You Estimate The Yield Curve Matters!, Luiz Paulo Fichtner, Pedro Santa-Clara

Luiz Paulo Fichtner

We evaluate a two-factor Cox et al. (1985a,b) model using Euribor zero-coupon yields. We estimate this model using a state-space framework, where we sum a log-likelihood function of the state vector dynamics to a log-likelihood function of cross-section pricing errors. We introduce a likelihood-scaling weight in the joint log-likelihood function and show that there is a tradeoff in how one estimates a yield curve. Giving more weight to the cross-section of pricing errors improves the fitting and forecasting of Euribor yields, while giving more weight to the log-likelihood function of the state vector dynamics improves interest rate derivative pricing at …


Out-Of-Sample Predictability Of Bond Returns, Luiz Paulo Fichtner, Pedro Santa-Clara Dec 2012

Out-Of-Sample Predictability Of Bond Returns, Luiz Paulo Fichtner, Pedro Santa-Clara

Luiz Paulo Fichtner

We test the out-of-sample predictive power for one-year bond excess returns for a vari- ety of models that have been proposed in the literature. We find that these models perform well in sample, but have worse out-of-sample performance than the historical sample mean. We write the one-year excess return on a n-maturity bond at time t + 1 as the difference between n times the n-maturity bond yield at time t, and the sum of n − 1 times the (n − 1)-maturity bond yield at time t + 1 and the one-year bond yield at time t. Instead of …


U.S. Monetary Policy: Qe3, Warren Coats Dec 2012

U.S. Monetary Policy: Qe3, Warren Coats

Warren Coats

The Federal Reserve’s latest round of quantitative easing (QE3) is not likely to help the U.S. economy’s recovery, which is already underway, but increases the risks of new asset bubbles and inflation.


Undiagnosed Disease, Especially Diabetes, Casts Doubt On Some Of Reported Health 'Advantage' Of Recent Mexican Immigrants, Silvia Barcellos, James Smith, Dana Goldman Dec 2012

Undiagnosed Disease, Especially Diabetes, Casts Doubt On Some Of Reported Health 'Advantage' Of Recent Mexican Immigrants, Silvia Barcellos, James Smith, Dana Goldman

Silvia Helena Barcellos

No abstract provided.


Waste Dynamics, Country Heterogeneity And The European Environmental Policy Effectiveness, Massimiliano Mazzanti Dec 2012

Waste Dynamics, Country Heterogeneity And The European Environmental Policy Effectiveness, Massimiliano Mazzanti

Massimiliano Mazzanti

No abstract provided.


An Optimal Strategy For Maximizing The Expected Real- Estate Selling Price: Accept Or Reject An Offer?, Martin Egozcue, Luis Fuentes García, Ricardas Zitikis Dec 2012

An Optimal Strategy For Maximizing The Expected Real- Estate Selling Price: Accept Or Reject An Offer?, Martin Egozcue, Luis Fuentes García, Ricardas Zitikis

Martin Egozcue

Motivated by a real-life situation, we put forward a model and then derive an optimal strategy that maximizes the expected real-estate selling price when one of the only two remaining buyers has already made an offer but the other one is yet to make. Since the seller is not sure whether the other buyer would make a lower or higher offer, and given no recall, the seller needs a strategy to decide whether to accept or reject the first-come offer. The herein derived optimal seller's strategy, which maximizes the expected selling price, is illustrated under several scenarios, such as independent …


How Long Will It Take To Lift One Billion People Out Of Poverty?, Martin Ravallion Dec 2012

How Long Will It Take To Lift One Billion People Out Of Poverty?, Martin Ravallion

Martin Ravallion

Alternative scenarios are considered for reducing by one billion the number of people living below $1.25 a day. The low-case, “pessimistic,” path to that goal would see the developing world outside China returning to its slower pace of growth and poverty reduction of the 1980s and 1990s, though with China maintaining its progress. This path would take another 50 years or more to lift one billion people out of poverty. The more optimistic path would maintain the (impressive) progress against poverty since 2000, which would instead reach the target by around 2025-30. This scenario is consistent with both linear projections …


Persuasive Talk, Delegation, And Announcements, Paan Jindapon, Carlos Oyarzun Dec 2012

Persuasive Talk, Delegation, And Announcements, Paan Jindapon, Carlos Oyarzun

Paan Jindapon

We study persuasion in a modified Crawford-Sobel sender-receiver game in which the receiver makes a binary decision to accept or reject a good recommended by the sender. The good's quality and the sender's type (neutral or biased) are not observable to the receiver. These alterations yield a simple model and a unique truth-telling equilibrium in which neutral senders who observe different qualities fully separate. In such an equilibrium, neutral senders can only communicate low quality levels with precision and biased senders adopt a mixed strategy that can successfully persuade the receiver to accept the good most of the time. Several …


Enfoques Teóricos De Las Reglas Por Defecto En El Derecho De Contratos: Complementariedades, Coincidencias Y Contradicciones, Daniel Monroy Dec 2012

Enfoques Teóricos De Las Reglas Por Defecto En El Derecho De Contratos: Complementariedades, Coincidencias Y Contradicciones, Daniel Monroy

Daniel A Monroy C

El artículo muestra una lectura crítica en lo que respecta a la noción, las funciones y el diseño de las reglas por defecto en el derecho de contratos a partir de tres enfoques teóricos a saber: la perspectiva jurídica tradicional; la visión del Análisis Económico del Derecho (AED) en su versión clásica y; el enfoque del denominado behavioral law and economics (BL&E). El documento destaca con particular atención que en lo correspondiente a la noción y las funciones de las reglas por defecto en el derecho de contratos, existe un alto nivel de coherencia entre la perspectiva jurídica tradicional por …


Credit And Debt In Economic Theory: Which Way Forward?, Thorvald Grung Moe Nov 2012

Credit And Debt In Economic Theory: Which Way Forward?, Thorvald Grung Moe

Thorvald Grung Moe

Background paper for INET workshop on Debt and finance in economics in Waterloo, Toronto nov. 2012


Data Acquisition Plan For The Public Health Multi-Network Practice And Outcome Variation (Mprove) Study, Glen Mays Nov 2012

Data Acquisition Plan For The Public Health Multi-Network Practice And Outcome Variation (Mprove) Study, Glen Mays

Glen Mays

This brief details the steps to be followed in obtaining and compiling data on the core (and optional) measures of public health service delivery for the MPROVE study. MPROVE data will need to be obtained from several different sources. Data for some measures already exist in administrative records, surveillance systems, or other sources maintained by the local and state public health agencies that participate in your PBRN. For other measures, it may be necessary to obtain data from other agencies that collaborate with the public health agencies in your PBRN. In still other cases, it may be necessary to undertake …


La Clase Media, Guillermo Arosemena Nov 2012

La Clase Media, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


Final Set Of Public Health Delivery Measures Selected For The Multi-Network Practice And Outcome Variation Examination (Mprove) Study, Glen Mays Nov 2012

Final Set Of Public Health Delivery Measures Selected For The Multi-Network Practice And Outcome Variation Examination (Mprove) Study, Glen Mays

Glen Mays

The Multi-Network Practice and Outcome Variation Examination Study (MPROVE) engages public health practice-based research networks (PBRNs) in the collection and analysis of measures of public health delivery across a large number of local practice settings in order to examine the causes and consequences of practice variation in public health. This document summarizes the final set of measures selected for the MPROVE study, including measures of the reach, volume, intensity, and quality of public health delivery in three domains of activity: chronic disease prevention, communicable disease control, and environmental health protection.


An Economic Analysis Of Judicial Careers, Paolo Polidori, Désirée Teobaldelli, Davide Ticchi Nov 2012

An Economic Analysis Of Judicial Careers, Paolo Polidori, Désirée Teobaldelli, Davide Ticchi

Davide Ticchi

The aim of this paper is to analyze from an economic perspective the effects of the judicial careers arrangement on the trials’ outcome. The institutional organization of judicial careers follows two distinct ideal systems. One is characterized by the fact that public prosecutor and judge belong to the same professional body, as magistrates, while the other one is characterized by the separation of the judiciary from prosecutors. We model this feature of the judicial system as a continuum variable and explain why this choice can be appropriate. We obtain that a more unified system of judicial careers leads to fewer …


Convex Combinations Of Quadrant Dependent Copulas, Martin Egozcue, Luis Fuentes García, Wing Wong, Ricardas Zitikis Nov 2012

Convex Combinations Of Quadrant Dependent Copulas, Martin Egozcue, Luis Fuentes García, Wing Wong, Ricardas Zitikis

Martin Egozcue

It is well known that quadrant dependent (QD) random variables are also quadrant dependent in expectation (QDE). Recent literature has offered examples rigorously establishing the fact that there are QDE random variables which are not QD. The examples are based on convex combinations of specially chosen QD copulas: one negatively QD and another positively QD. In this paper we establish general results that determine when convex combinations of arbitrary QD copulas give rise to negatively or positively QD/QDE copulas. In addition to being an interesting mathematical exercise, the established results are helpful when modeling insurance and financial portfolios.


¿Comienzo Del Fin?, Guillermo Arosemena Nov 2012

¿Comienzo Del Fin?, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


¿Tiro De Gracia?, Guillermo Arosemena Nov 2012

¿Tiro De Gracia?, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


Desigualdad E Innovación, Guillermo Arosemena Nov 2012

Desigualdad E Innovación, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


Online Appendix: Spatial Mobility And Environmental Effects On Obesity, Zhenxiang Zhao Nov 2012

Online Appendix: Spatial Mobility And Environmental Effects On Obesity, Zhenxiang Zhao

Zhenxiang Zhao

No abstract provided.