Public Economics Commons^™

Working Capital Requirement And The Unemployment Volatility Puzzle, Tsu-Ting Tim Lin

Economics Faculty Publications

Shimer (2005) argues that a search and matching model of the labor market in which wage is determined by Nash bargaining cannot generate the observed volatility in unemployment and vacancy in response to reasonable labor productivity shocks. This paper examines how incorporating monopolistically competitive firms with a working capital requirement (in which firms borrow funds to pay their wage bills) improves the ability of the search models to match the empirical fluctuations in unemployment and vacancy without resorting to an alternative wage setting mechanism. The monetary authority follows an interest rate rule in the model. A positive labor productivity shock …

Essays On Intergovernmental Fiscal Relationship, Bimal Soti

FIU Electronic Theses and Dissertations

The aim of this dissertation is to explore a number of issues in intergovernmental fiscal relationships in the United States. Three independent essays in the dissertation focus on three different issues of interest in public finance: the response of school districts and county governments to changes in state government grant allocations; political determinants of presidential disaster declarations; and the crowding out of federal transfers to states by private charitable donations with special reference to the proportion of federal welfare grants to all 50 U.S. states over the period 2005 - 2013.

Results in the first essay show that decreases in …

Estimating The Economic Impact Of The Construction And Operation Of The Plains And Eastern Clean Line Project, Katherine A. Deck, Mervin Jebaraj

Publications and Presentations

Clean Line Energy Partners LLC (Clean Line) is proposing to build the Plains & Eastern Clean Line project, an approximately 700-mile, high voltage direct current transmission line and associated facilities with the capacity to deliver 4,000 megawatts (MW) of wind power from the Oklahoma Panhandle region to utilities and customers in Arkansas, Tennessee, and other markets in the Mid-South and Southeast, areas that lack access to low-cost renewable power. The project will deliver enough energy to power more than one million homes annually in the MidSouth and Southeastern United States.

Monetizing Housing For Retirement In Singapore, Sock Yong Phang

Research Collection School Of Economics

In 2015, the value of housing assets owned by households in Singapore at the aggregate level was 55% of their net worth.1 Ninety percent of Singapore households owned their homes, meaning that almost all households had wealth saved in housing, and households’ housing wealth was 2.1 times that of the country’s gross domestic product. In addition, Singapore is facing an aging population. The resident old age support ratio, defined as the number of persons aged 20–64 per person aged 65 years and over, decreased from 9.0 in 2000 to 5.7 in 2015.2 Against this backdrop of asset-rich and aging households, …

Can Simple Mechanism Design Results Be Used To Implement The Proportionality Standard In Discovery?, Jonah B. Gelbach

All Faculty Scholarship

I point out that the Coase theorem suggests there should not be wasteful discovery, in the sense that the value to the requester is less than the cost to the responder. I use a toy model to show that a sufficiently informed court could design a mechanism under which the Coasean prediction is borne out. I then suggest that the actual information available to courts is too little to effect this mechanism, and I consider alternatives. In discussing mechanisms intended to avoid wasteful discovery where courts have limited information, I emphasize the role of normative considerations.

Expropriation Risk And Competition Within The Military, Madhav S. Aney, Giovanni Ko

Research Collection School Of Economics

How can agents in the military, who control the means of coercion, commit not to expropriate from producers? In this paper we propose competition within the military as one of the mechanisms that can deter predation and consequently create commitment. In our model, even if agents within the military could expropriate all output costlessly, it is attractive to protect producers from predating military units. This marginal defensive advantage and consequently defence is an effective way to potentially eliminate is because there is a other military units, reducing competition and leading to higher future payoffs. Our model predicts that greater internal …

Cguppi: Scoring Incentives To Engage In Parallel Accommodating Conduct, Serge Moresi, David Reitman, Steven C. Salop, Yianis Sarafidis

Georgetown Law Faculty Publications and Other Works

We propose an index for scoring coordination incentives, which we call the “coordination GUPPI” or cGUPPI. While the cGUPPI can be applied to a wide range of coordinated effects concerns, it is particularly relevant for gauging concerns of parallel accommodating conduct (PAC), a concept that received due prominence in the 2010 U.S. Horizontal Merger Guidelines. PAC is a type of coordinated conduct whereby a firm raises price with the expectation—but without any prior agreement—that one or more other firms will follow and match the price increase. The cGUPPI is the highest uniform price increase that all the would-be coordinating firms …

Singapore’S Housing Policies: Responding To The Challenges Of Economic Transitions, Sock Yong Phang

Research Collection School Of Economics

Singapore has developed its own unique state-driven housing system, with more than three quarters of its housing stock built by the Housing and Development Board and homeownership financed through Central Provident Fund savings. As a result, it has one of the highest homeownership rates amongst market economies. This paper provides a historical perspective of the main housing problems faced by successive prime ministers and their respective policy responses. Under the leadership of Prime Minister Lee Kuan Yew (1959-1990), the government established an integrated landhousing supply and housing finance framework to channel much needed resources into the housing sector to deal …

Do Footprint-Based Cafe Standards Make Car Models Bigger?, Brianna Marie Jean

Economics

Corporate Average Fuel Economy (CAFE) standards have historically been set equal across all manufacturer fleets of the same type. Concerns about varying costs across firms and safety implications of standards that are set homogeneously across firms and models resulted in a policy shift towards footprint-based standards. Under this type of standard, individual car models face targets based on the size of the area between the wheelbase and wheel track, so that larger models face less stringent standards, and manufacturers who make, on average, larger cars will face a lighter fleet standard. Theoretical models have shown that this type of policy …

Home Prices And Inequality: Singapore Versus Other Global Superstar Cities, Sock Yong Phang

Research Collection School Of Economics

The Global City concept originates from the work of sociologist Saskia Sassen, which dates back to the 1980s. In an age of globalisation, division of labour is international in scope and production activities are distributed across the world. A global city is a significant point where the internationally oriented financial and producer services that make the global economy run choose to agglomerate.

Waste And Duplication In Nasa Programs: The Need To Enhance U.S. Space Program Efficiency, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

The U.S. Government faces acute budgetary deficits and national debt problems in the Obama Administration. These problems have been brought about by decades of unsustainable government spending affecting all agencies including the National Aeronautics and Space Administration. (NASA). An outgrowth of this fiscal profligacy is the presence of wasteful and duplicative programs within NASA that prevent this agency from achieving its space science and human spaceflight objectives. These problems occur due to mismanagement of these programs from NASA and the creation of these programs by the U.S. Congress and congressional committees. This occurs because congressional appropriators tend to be more …

Syllabus: Introduction To Permaculture, Lisa Depiano

Sustainability Education Resources

The Permaculture Design Course is a three-credit course that offers students a foundation in permaculture history, ethics, principles, design process, and practical applications. The framework behind the theory and practice of permaculture is rooted in the observation of natural systems. By observing key ecological relationships, we can mimic and apply these beneficial relationships in the design of systems that serve humans while helping to restore the natural world. This course trains students as critical thinkers, observers, and analysts of the world(s) around them, and then goes on to provide students with the tools needed to design for inspired and positive …

Shikkhangon: A Non-Disruptive Primary Education Center For The Underprivileged Children In Bangladesh, Nisar Ahmed

Journal for the Advancement of Developing Economies

Over the last few decades, Bangladesh has achieved significant progress in providing access to primary education for all children. But, the underprivileged segment of the population still cannot send their children to schools, primarily due to the inflexible nature of the traditional school system that conflicts with their lifestyle and livelihood. Also, the quality of students’ achievements under the traditional system suffers due to low quality of pedagogy. In order to provide a quality education befitting the lifestyle of the underprivileged, a departure from the traditional schooling is proposed. This new model allows students to access and learn from motivated …

Technical Efficiency Of Onion Production In Pakistan, Khyber Pakhtunkhwa Province, District Malakand, Abid Khan

Journal for the Advancement of Developing Economies

This research was conducted to estimate the technical efficiency and determinants of onion production, by using the Cobb-Douglas stochastic frontier production function with the inefficiency effects model. A multistage sampling technique was used to collect data, randomly, from 93 respondents. The empirical results showed that urea, farm yard manure (FYM), irrigation, and pesticides were the major factors that influence changes in onion production. Farm-specific variables such as education and area were found to have significant effects on the technical inefficiency among the onion producers. The technical efficiency of farmers varied from 0.7478 to 0.9851 with a mean technical efficiency of …

Does Financial Literacy Contribute To Food Security?, Katherine Grace Carman, Gema Zamarro

Education Reform Faculty and Graduate Students Publications

Food insecurity, not having consistent access to adequate food for active, healthy lives for all household members is most common among low income households. However, income alone is not sufficient to explain who experiences food insecurity. This study investigates the relationship between financial literacy and food security. We find that low income households who exhibit financial literacy are less likely to experience food insecurity.

State Of The Northwest Arkansas Region 2015 Report, Katherine A. Deck, Mervin Jebaraj

State of the Northwest Arkansas Region Report

The State of the Northwest Arkansas Region Report is an annual publication, commissioned by the Northwest Arkansas Council, that serves as a tool for evaluating the economic performance of the region. The Northwest Arkansas Council announced in January 2015 that the organization’s five-year strategic plan for 2010-2015 was completed one year ahead of schedule. As a result, the Northwest Arkansas Council created a blueprint for development that outlines new peer regions and strategies for 2015-2017. In the new three-year plan, the performance of Northest Arkansas is benchmarked with other contemporary, high-performing regions such as Austin, Des Moines, Madison, and Raleigh-Durham. …

Urban-Focused Comprehensive Economic Development Strategy (Ceds), Thomas Edison State College, The John S. Watson Institute For Public Policy, New Jersey Urban Mayors Association, Michael N'Dolo, Jim Damicis, Rachel Selsky, Abby Straus, John Findlay

Urban Mayors Policy Center

This Comprehensive Economic Development Strategy (CEDS) is the outgrowth of a long running effort by the John S. Watson Institute for Public Policy at Thomas Edison State College (Watson Institute) to support economic and community development in New Jersey with a particular focus on urban areas in need of revitalization. The Watson Institute was previously awarded a United States Economic Development Administration (USEDA) grant to complete an economic analysis of the North Central New Jersey Region. The USEDA approved that analysis and awarded additional funds to continue our work, culminating in this CEDS plan.

Several years ago, the Watson Institute …

Cell Phone Repairers In Cameroon, 2000-2013, Walter Gam Nkwi

Journal for the Advancement of Developing Economies

This article focuses on cell phone repairers in Cameroon history. It examines how the cell phone has been appropriated by Cameroonians by repairing and extending its life. It questions the ways the repairers have understood the inner parts of the cell phones. How has the repairing of cell phones led to sustaining the livelihood of the repairers? It appears that life would have been unimaginable in the second half of the 21st century without better communication. In Africa mobile phone communication has expanded exponentially over the last decade and will hopefully continue to do so during the coming decades. Cell …

Role Of Intelligence Inputs In Defending Against Cyber Warfare And Cyber Terrorism, Aniruddha Bagchi

Faculty and Research Publications

No abstract provided.

Developing Economies By Advancing Entrepreneurship: An Interview With Amaury De Parcevaux, Simone T.A. Phipps, Amaury De Parcevaux

Journal for the Advancement of Developing Economies

Today, Amaury de Parcevaux is the President of Beeleev, a company he co-founded with Hugues Franc, Founder and CEO. Franc and de Parcevaux attended boarding school together in France, and reflect the vision and mission of Beeleev, which aims to build a collaborative business platform for entrepreneurs seeking to grow their business internationally. Entrepreneurs can benefit from Beeleev via membership. Beeleevers’ membership opens a farreaching network that connects entrepreneurs from different countries, providing the necessary contacts to aid entrepreneurs as they conduct business in another country. For example, if an American entrepreneur needs to find a way into the Korean …

Monetary Expansion And Bank Credit: A Lack Of Spark, Lucjan T. Orlowski

WCBT Faculty Publications

This paper aims to evaluate the effects of the Federal Reserve monetary expansion over thepast 15 years on the credit channel of monetary policy transmission. To do so, we analyze the allocation of the Fed vast liquidity injections by the U.S. banks. The underlying hypothesis is that the considerable monetary expansion neutralized the bank credit expansion as banks channeled borrowed liquidity into other assets.

The monetary expansion was propelled by the financial crisis of 2007–2008. The crisis led to the rapid deterioration of asset performance and liquidity of the banking system. Among the key factors contributing to the crisis was …

Breaking The Chains Of Poverty Among Filipino Households: Will It Be In This Lifetime?, John Paolo R. Rivera

Angelo King Institute for Economic and Business Studies (AKI)

The Asian Development Bank (ADB) attributes persistent poverty in the Philippines to “weak macroeconomic management, employment issues, high population growth, an underperforming agricultural sector and unfinished land reform agenda, governance issues including corruption and a weak state, conflict and security issues, particularly in Mindanao, and disability” (Asian Development Bank [ADB], 2005, xvii). Despite copious and varied government initiatives to remedy the situation, however, Filipinos in the lower income deciles continue to suffer from the constant deprivation of basic necessities (Schelzig, 2005).

What Is A Lien? Lessons From Municipal Bankruptcy, David A. Skeel Jr.

All Faculty Scholarship

From the outset of Detroit’s bankruptcy, an unlikely set of issues kept coming up: What exactly is a lien? Who has a property interest or its equivalent in bankruptcy? Did general obligation bondholders have special status, due to Detroit’s promise to use its “full faith and credit” for repayment? What about Detroit’s pension beneficiaries, who could point to a provision in the Michigan Constitution stating that accrued pension benefits cannot be diminished or impaired. In this Article, I explore these and related issues that have arisen in Detroit and other recent municipal bankruptcy cases.

Part I of the Article briefly …

From Chrysler And General Motors To Detroit, David A. Skeel Jr.

All Faculty Scholarship

In the past five years, three of the most remarkable bankruptcy cases in American history have come out of Detroit: the bankruptcies of Chrysler and General Motors in 2009, and of Detroit itself in 2012. The principal objective of this Article is simply to show that the Grand Bargain at the heart of the Detroit bankruptcy is the direct offspring of the bankruptcy sale transactions that were used to restructure Chrysler and GM. The proponents of Detroit’s “Grand Bargain” never would have dreamed up the transaction were it not for the federal government-engineered carmaker bankruptcies. The Article’s second objective, based …

Antitrust, Competition Policy, And Inequality, Jonathan B. Baker, Steven C. Salop

Georgetown Law Faculty Publications and Other Works

Economic inequality recently has entered the political discourse in a highly visible way. This political impact is not a surprise. As the U.S. economy has begun to recover from the Great Recession since mid-2009, economic growth has effectively been appropriated by those already well off, leaving the median household less well off. The serious economic, political and moral issues raised by inequality can be addressed through a panoply of public policies including competition policy, the focus of this article. The article describes the channels through which market power contributes to inequality, and sets forth a range of possible antitrust policy …