Economics Commons^™

A Study Of The Chinese Toy Market: Does An Oligopsony Structure Force Manufacturers To Cut Costs?, Y. Allen Chen

Economics Theses

The growing incidence of product safety complaints pertaining to imported goods from China has been one of the most widely covered phenomena in 2007. China's reputation as the factory of the world suffered immensely, a result of product recalls ranging from poisoned dog food to children's toys saturated with lead. The Chinese government, as a result, attempted to repair their image as a producer of safe exports. These efforts culminated in the nationwide crackdown on the production on substandard goods and the arrest of 774 people on October 29, 2007. Pressures in the united States did not cease, however, with …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2007, Central Bank Of Nigeria

CBN Annual Report

In 2007, the Central Bank of Nigeria (CBN) faced significant challenges in monetary management due to statutory allocations to government tiers, autonomous foreign exchange inflows, and pre-election spending. These challenges were addressed through Open Market Operations (OMO), issuance of treasury securities, standing facilities, and foreign exchange swaps. The introduction of the monetary policy rate (MPR) in December 2006 moderated inter-bank rates, encouraged trading, and improved the transmission of monetary policy actions. The Bank intensified its non-regular management activities to ensure the Policy Support Instrument (PSI) target was met. The financial system at end-2007 comprised the CBN, the Nigeria Deposit Insurance …

Income Growth In U.S. States: Is It Pro-Poor?, Brandon Curtis

Master's Theses - Economics

While it is generally assumed that economic growth will have a positive effect the vast majority of the population, this claim is often left unchallenged. In particular, the effect of economic growth on the low-income segment of the population is not well understood. In particular, it is not clear if 1) the poor benefit from economic growth, and if so 2) what is the size of the benefit? A growing number of studies have been devoted to answering these questions. This field of study is commonly known as the pro-poor growth literature.

American Index Put Options Early Exercise Premium Estimation, Ako Doffou

WCBT Faculty Publications

"This paper examines empirically the value of early exercise by testing the ability of two American put valuation models to predict the early exercise premium for the S&P 100 American put options. An accuracy test and a quality test are performed on (1) the MacMillan (1986) & Barone-Adesi and Whaley (1987) model, and (2) the Carr, Jarrow and Myneni(1992) model. The test results show that early exercise premium is significant regardless of moneyness. Moreover, consistent with the theory, the value of early exercise is significantly negatively related to moneyness and interest rates and significantly positively related to time to maturity …

Increasing Competition In The U.S. Domestic Airline Industry Through International Competition, Pauline S. Seng

Economics Theses

The deregulation of the United States airline industry in the late 1970s has resulted in lower ticket prices and increased productivity, but deregulation has also created an oligopolistic domestic airline market with high carriers to entry that has obstructed competition. This present lack of competition in the industry has reduced social welfare. I will argue that engaging in cabotage and allowing foreign investments will create a monopolistically competitive environment that will enhance competition and social welfare in the United States airline market.

Providing Donors An Incentive For Ex Ante Investment In Disaster Relief, Katerina Marie Dehart

Economics Theses

A major concern for disaster relief today in the inefficiency of disaster relief efforts by disaster relief organizations (DROs). DROs, as non-profit organizations, rely considerably on donations. Donor-intent often leaves many DROs without the option of optimally allocating and utilizing these donations. Because donor intentions lean more towards immediate disaster relief rather than long term interests such as disaster prediction, prevention, and preparation, there tends to be a surplus of ex post investment and a shortage of ex ante investments for disaster relief. After identifying the economic reasons for a shortage of ex ante donor investment, this paper focuses on …

Incentives To Dual Practice New Institutional Economic Analysis Of Canada’S Mixed Public-Private Health Sector, Pholeng Chue

Economics Theses

There are many incentives for physicians to dual practice such as an increase in salary, technology usage, or less work hours. By using the New Institutional Economic approach, we examine these incentives of physicians in Canada's health care system in three scenarios of dual practice. In the first scenario is physicians dual practicing without any government policies or restrictions in the private sector. In the second scenario, physicians are not to allow to dual practice, meaning a full out ban of dual practicing. In the third and final tier, restrictions or government policies will be place in the private sector …

The European Neighborhood Policy And The Ukraine: Incentives For Economic And Political Reform, Jessica Alicia Bruce

Economics Theses

No abstract provided.

Trading Carbon Under Uncertainty: How Much Credit Should Be Given For Afforestation?, Ram Ranjan, James Shortle

Ram Ranjan

This paper designs an optimal trading ratio between carbon abatement measures that are certain (such as curtailing carbon emissions) and those that have elements of uncertainty associated with them (such as sequestration through afforestation). Carbon sequestration through afforestation is prone to leak back into the atmosphere through loss of forestry caused by natural disasters or harvesting. When stock of carbon sequestered in plantations is uncertain its value should be discounted compared to measures that have a permanent impact on the atmospheric stock of carbon. An optimal trading mechanism would involve equating the ratio of the marginal costs of the two …

The Future Of Credit Unions, Taylor Marsh

Economics Theses

No abstract provided.

Exit Timing Decisions Under Land Speculation And Resource Scarcity In Agriculture, Ram Ranjan, Sorada Tapsuwan

Ram Ranjan

This paper models the impact of water scarcity in agriculture on the timing of exit decisions for farmers faced with the prospect of declining profitability in agriculture but increasing benefits from land rezoning in the future. The prospects of land rezoning are modeled as a Poisson process. The analysis highlights the role of speculative rewards in making farmers resilient to declining profitability in agriculture and also identifies the circumstances under which water prices may become an ineffective policy tool for allocating water. An empirical application is performed for the case of a drought prone region in Western Australia. Results indicate …

Life And Debt For Etsu Graduate Students., Laura Nelson

Electronic Theses and Dissertations

Through in-depth interviews with 21 participants, this thesis investigates how graduate students at East Tennessee State University feel about their finances. Although all adults, by necessity, have everyday money concerns, this study explores the unique experiences that post-baccalaureate students have with debt, how they talk about it, and what meanings they attach to student loans in their daily lives. This study is novel in that little research to date has examined how graduate students' perceptions of adulthood are connected to their financial situations and their stage in life. For example, saving money is important to this population mainly because it …

Some Economic Issues In Indian Textile Sector, Badri Narayanan G.

Badri Narayanan G.

No abstract provided.

Recommendations For The Optimal Allocation Of Radio Spectrum Licenses In The European Union, Alex B. Twist

Economics Theses

Auctions are used by many organizations to assign property rights for a wide variety of goods. In our paper, we are concerned with the use of auctions by the European Union to assign radio spectrum licenses. Without state involvement, firms use the radio spectrum until its value is dissipated. Thus, it is preferable for the state to assign and enforce radio spectrum rights. Further, because of the non-competitive structure in the telecommunications market, it is also preferable for the state to assign radio spectrum rights in such a way as to encourage new entrants. Of the available allocation mechanisms, auctions …

The Firm Size, Farm Size, And Transaction Costs: The Case Of Hazelnut Farms In Turkey, Ibrahim Demir

All Dissertations

ABSTRACT This study analyzes the determinants of the size of the hazelnut farms in Turkey within the framework of the theory of firm and transaction costs. This study argues that, for a farm production function, land is a complex input with many transaction cost-increasing interactions with nature. Natural effects, such as land slope and variation in the weather conditions, can increase transaction costs. Transaction costs are the costs of using the inputs necessary for production. This study utilizes two separate data sets in order to test if the predicted relationship between transaction costs and farm size holds. The first data …

Essays On Electricity Regulation And Restructuring, Earl Davis

All Dissertations

The study of the regulation of the electric power industry is important to understanding the role of the industry in the economic development of this country. These essays attempt to clarify the analysis and emphasize the salient features of regulation and the restructuring of the electric power industry and the organization of the firms that make up the industry.

Essays On Sports Economics, Octavian Vasilescu

All Dissertations

The common thread behind the three papers presented here is the use of sports data to test economics theories. The effect of wage inequality on team production is an important question in labor economics. Data from sports are well suited to study this problem, with more than ten published papers in the last decade.In the first paper we analyze the effect of wage inequality both on team performance and efficiency, using data from Major League Baseball and a stochastic frontier model with a translog production function. Most studies have examined the impact of inequality within a linear framework, and found …

Nuestros Niños: Child Care Needs Assessment For The Latino Population In Bloomington-Normal, Andrew Maxwell, Joseph Alustiza, Sean Moore, Mary Stephen, Sanjay Soman, Andrew Kasprzak, Brian Hillery, Kara Harvey, Michael Hotard, Rebecca Bliss, Brandon Curtis, Adrienne Martin, Bishal Kasu, Jessica Aleksy

Community Project Design and Management Reports - Sociology

Immigration from the Latin American nations has become a prominent topic of discussion nationwide. Illinois is, to be sure, not an exception. The Latino population of Bloomington-Normal has grown drastically in recent years. To address these new developments, coalitions and organizations have been formed which endeavor to understand, and even provide for, the needs of this new community. Some hope this may facilitate their contribution to their new neighborhood.

This report is part of a larger needs assessment, which seeks to fulfill that goal of understanding. It examines the need for child care in relation to the Latino population in …

Solving The Beautiful Mind Coordination Problem, Ted C. Bergstrom

Ted C Bergstrom

There are n boys and m girls. The boys are all expected utility maximizers and agree about the desirability of the prospect of dating each girl. Boys assign utility v_i to a date with girl i, where v_1>v_2>\dots v_n>0 and a utility of 0to having no date. Girls don't care which boy they go out with and they prefer having a date to not having a date. We find the Nash equilibrium strategy for boys.

Overview Of Monetary Policy In Nigeria, S. N. Ibeabuchi

Economic and Financial Review

This article provides and overview of monetary policy which is the instruments at the disposal of the monetary authorities to influence the availability and cost of credit/money M with the ultimate objective of achieving price stability. This overview is with reference to Nigeria.

Exchange Rate Versus Capital Account Liberalization In Nigeria: Some Important Issues, A. E. Akinlo, D. O. Yinusa

Economic and Financial Review

This article examines the relationship between exchange rate and account liberalization in Nigeria. It focuses on monetary policy design and management in a fast-changing world. It highlights that the need for continuous research into this subject is highlighted by the reliance on monetary policy as the principal tool for economic stabilisation in emerging market economies.

Monetary Policy Transmission Mechanism In Nigeria, M. Ajayi

Economic and Financial Review

This article reviews the monetary policy transmission mechanism in Nigeria and the various challenges of the transmission process. Also, it highlights the need to continuously examine the channels of monetary policy in the economy to enhance policy design and implementation in Nigeria. The paper is divided into five parts. Following the introduction as part I, Part II, discusses conceptual issues of monetary policy transmission mechanism, while Part III gives country experiences. Part IV x-rays monetary policy transmission mechanism in Nigeria and lessons from international experiences while Part V contains the concluding remarks.

Standing Facilities And Liquidity Management In Nigeria: Progress So Far And Challenges Under An It Environment, J. K. A. Olekah

Economic and Financial Review

This article discusses the Central Bank of Nigeria (CBN) standing facilities and their effectiveness in reducing interbank interest rate volatilities as well as the challenges that have been faced by both the CBN and market operators in the implementation. The paper is organized into six sections. Following this introduction in section II, the CBN indirect monetary policy instruments are discussed as a prelude to the introduction of the standing deposit/lending facilities in December 2006. The CBN standing facilities as instruments of liquidity management are discussed in section III. Some of the countries that have adopted the policy instruments are surveyed …

Exchange Rate Policy Design: Choosing The Right Exchange Rate Response In A Changing Environment, M. I. Obadan

Economic and Financial Review

This article examines exchange rate policy design with reference to how to choose the appropriate exchange rate Response for the right environment. The article is structured into four parts with the introduction as part I. Part II gives the overview of Nigeria's exchange rate framework. Part III reviews different concepts of equilibrium exchange rates with a focus on the fundamental equilibrium exchange rate (FEER) and the behavioural equilibrium exchange rate (BEER) approaches. Part IV discusses the challenges encountered in choosing the right exchange rate response in the new banking sector environment. Part V concludes the paper and proffers the way …

Towards Inflation Targeting Framework For Monetary Policy In Nigeria: The Challenges For Central Bank Of Nigeria, M. Hugman

Economic and Financial Review

This article examines inflation with reference to Nigeria. As an emerging market environment. Part one outlines briefly the underlying mechanisms of inflation-management and general approaches to inflation targeting. Part two focuses on issues that specifically relate to inflation targeting (IT) in emerging markets, including the possible macroeconomic impact of the transition process. Part three considers the sequence and timing of the transition to IT in Nigeria, on the shift in exchange rate management required to achieve long-term price stability. Additionally, Nigeria-specific challenges are also addressed. The paper concludes by noting that both the time frame and coordination for a successful …

Asset Price Movements And Derivatives: Implications For Monetary Policy In Nigeria, Ola Sholarin

Economic and Financial Review

The article highlights the importance of maintaining accurate market value for a wide variety of asset classes. From the perspective of speculators, the author discusses the methodology for identifying undervalued or overvalued assets for taking appropriate bet on such assets. From analysts, hedgers or investors perspective, this paper discusses how financial instruments derivative could be used to protect financial assets and return on such assets against volatility. The author highlights application of the same set of derivative instruments for speculative, regulatory arbitrageurs and other purposes. For the same group, this paper identifies fundamental variables that determine assets' prices in a …

Welcome Address, C. E. Nkwonta

Economic and Financial Review

This is the welcome address for the seminar on "Monetary Policy in a Changing Environment" for CBN Executive Staff.

Special Remarks, C.N.O. Mordi

Economic and Financial Review

This the special remarks delivered on the occasion of the opening ceremony of the 2007 CBN Executive Seminar on monetary policy in a changing environment for CBN Executive Staff.

Opening Address, O. A. Demuren

Economic and Financial Review

The opening address at the 2007 CBN Executive Seminar the on monetary policy in a changing environment.

Keynote Address By S. O. Alade, Sarah O. Alade

Economic and Financial Review

Keynote Address by Dr Sarah Alade, the Deputy Governor (Economic Policy), Central Bank of Nigeria at the CBN Executive seminar on monetary policy in a changing environment for CBN Executive Staff.